I guess you have mostly decided that Malaysia will be your new home. Any particular reason why you never took on Australian citizenship after so many years there?

I came close to giving up my Malaysian citizenship in 2009 to take on British citizenship but decided to hold off as at that time UK was going through a major economic crisis that appeared as if it was set to be game over and Asia was the future which was why I agreed to relocate to Singapore.

Did not realise their pension system is means tested and the threshold to be considered wealthy is relatively low considering income levels.

The uni my dad was a teaching fellow at had its own pension scheme for its academic faculty and a different scheme for its administrative staff. However only their permanent rather than contract staff could participate in it.

Your wife might be in for a surprise that her younger sister does not want her around. That seems to be the case with my mum and her 4 younger sisters. She thought she would spend more time with them but they mostly have different interests and priorities .

I have no kids and wanted to leave my options open (like retiring in Msia). If i had kids, most likely i would have taken up Aust citizenship because parents usually want to be around children/grandchildren when we get old.

The pension scheme you are referring to (for your dad) is the defined pension super scheme. I am in that scheme too - you can opt for a pension/lump sum. I am in the NSW State Super Scheme (SASS https://www.statesuper.nsw.gov.au/). I can elect to take a pension for life or opt for a lump sum. A lot of my colleagues are in this scheme and they have elected to take lump sum - you can 'double-dip' if you take the lump sum option. The reason why you can double-dip is because you can blow off (or buy a bigger house as own house is exempt) any excess by keeping your assets around A$480k (couple) so that you can still get the aged pension when you hit 67  .

Fascinating on the double dip. Never thought such a loophole could exist within the system.

Have you started disposing and packing items to be repatriated back to Malaysia then?

I am giving my wife A10k for my retirement present as i have never expected to get a golden handshake. She saw a nice Chanel bag (cost about A$10,500) and wanted to buy it with the A$10k i gave her. I now tell her not to buy the bag as the future is very unpredictable - she is now a bit upset with me  !!  Can't understand women - why need so many handbags (she already got about 5 Chanel handbags - all very costly eventhough we bought it quite a few years ago. I really cannot understand women 

I wasn't aware of it at all - one of my Msian colleagues (taken up Aust citizenship) worked in HR and told me about 6 years ago before she left (also got payout as she was made redundant). She was just a junior in the Uni and was getting about A$72kyr base then - she had a choice between getting A$910/wk (for life) or taking a lump sum of A$620k. She has been working in the Uni for 30 years and she was 65 years old. She took the lump sum and at that time she wanted to upgrade to a bigger house and go on the pension (govt) after that. At that time, i thought she was crazy but now after many years thinking about it, it makes sense!! If you opt for your own pension (from your own superfund) then you will not be entitled to the govt pension.

I don't have much stuff left in Sydney - my wife has been taking a lot of stuff back each time we went back to KL over the past few years. I will probably give away all my furniture to a good friend who used to work with me at the Uni.

Women are like that one. But also the virus has kinda made everyone feel lower than ever. Maybe having the bags gives her a sense of security that everything is still as is. You can either get it for her or take her mind off of it. I can't really say to take a vacation together due to current situations. What I can really say is to possibly cut down on your own expenses and maybe buy the Bag "used" from carousell. Give it to her on your anniversary or some other important date for both of you.

Carousell Aus is still a good place for these kinds of stuff as the younger (read:gullible) people kept buying stuff they can't ultimately afford. You can bring it to a Chanel store to confirm its authenticity. Or buy a new one if she's the type that's very picky on it.

Though losing $250k must have been frustrating for you. But I'll assume most if not all your commitments are cared for prior to that.

PS. Fam member was an avid upcar shoe collector. Buy 50+ odd shoes but never really use em. In the end left the leather to dry rot. 

Interesting though I could not imagine wanting a bigger home in my retirement.

I guess that would make things easier if there is nothing to cart back. Unfortunately that is something I do not know how to manage as there are some things that I just would not sell and could never sell or give it to anyone. One of that thing is the 1965 MGB that used to belong to my late granddad and was given to me by my now passed on grandma. I think I would probably pass it on to one of my kids or hopefully grandkids.

Shit - you have a 1965 MGB? Those kinds of car will sell for a decent amount in Sydney (we have a lot of pommies here who loves their MGs).

I don't like to do housework so i would prefer a smaller place when i get older. In Sydney getting someone to do house cleaning will cost about A$35/hr (minimum 3-4 hours). That is why i like Msia - getting someone in is so much cheaper 

My wife has already got 5 Chanel bags and 2 Chanel purses (started buying about 20 years ago)  . I told her even if she has 50 Chanel bags also not enough to satisfy her 'greed'.

I actually promised my wife A$20k angpow but with the condition that my payout is more than A$300k but because my payout was less than A$300k, she only got A$10k ang pow.

I used to have a few Rolex in my younger days (Day/Date, Datejust 2 tone, Submariner) but now i am just wearing a simple Seiko (bought rm650 about 10 years ago). I have sold off/given away to my relatives all my Rolex and i am a simple man who don't crave for designer brands anymore. I can afford these luxuries but i feel i have no more craving anymore (maybe i am getting older now). I look back and saw i had a lot of 'greed' in my earlier days.

Same here, I am not a housework person and I definitely do not do my fair share of housework. Thankfully I do have a maid that I employed to look after the kids. Unfortunately it has become much more difficult now to find domestic help as many left the country last March/April and the border has been opened for them to return.

Yes, my MGB was bought new in Oxford by my grandparents in 1965, they drove it around UK for a month and then drove it half the world to Kuala Lumpur. I wish I was as adventurous but the last time I brought it to Thailand for a classic car rally I loaded it on a flatbed to be transported to Phuket rather than drove it the entire journey. It underwent a full restoration in 2017 and on average I get asked once a month if I would sell it.

Greed isn't all that bad though, it give a sense of motivation to push harder and earn more. But being happy with whatever you have is great as well, taking care of face in front of others is tiring.

And really if you think 5 Chanel bags are bad.... you haven't met my grandma. Thank god ayam put more emphasis on function rather than aesthetics.

inb4 buy her a pasar malam chaplang Channel bag 

Your MGB will sell for a motza in Sydney!

When i told my wife angpow may be A$20k if i get more than A$300k in my payout, she took me to see Hermes Birkin bags in the Hermes shop here in Sydney(King/Castlereagh Street corner). Aiyoh  ! The cheapest handbag there was about A$14k - i only sat on their couch and she spent about half an hour going through all the Birkin selection. There was even a queue to go into the shop as they could only allow in a small number of customers due to Covid restriction. After viewing all the bags, the French salesgirl took us to see all the other Birkin stuff - homewares, furniture, scarfs, etc.. (3 floors in total). Told us we must join their membership (free to join) and once we show we have an interest in Birkin products, we will be given priority when we buy Birkin stuff. Aiyoh. All their stuff have at least four zeros (Aussie)  .

After that i told my wife to keep the angpow i gave her and buy some bank shares, she wouldn't want to talk to me. I tell her every 6 mths can still get a bit of dividend - she gave me the ugly look!!

Sorry but that was funny, she's just sulking 
She's on her track to becum liek bijan's wife?
Chanel ok lah but Birkin... GG

That's why - cannot never finish buying loh.

After that, she will ask - why your retirement savings every year so much more extra? Why don't go buy another Birkin?

She bought 2 Classic Chanel bags in 2015 (Jumbo Classic and another called GST model). One was A$6,250 and the other GST was about A$3,500. The GST is no longer being produced and the Jumbo which costs A$6,250 is now selling for about A$12,500. She then challenges me - tell you sure make money before, you don't believe..... Aiyoh    I told her just because the price has gone up doesn't mean she made money. She kept insisting she has made money!! How to argue like that?

Haven't asked her to sell it?
Bet she'll be furious and annoyed with you throughout the day 

invitation to rob and spite.

That's why - cannot never finish buying loh.

After that, she will ask - why your retirement savings every year so much more extra? Why don't go buy another Birkin?

She bought 2 Classic Chanel bags in 2015 (Jumbo Classic and another called GST model). One was A$6,250 and the other GST was about A$3,500. The GST is no longer being produced and the Jumbo which costs A$6,250 is now selling for about A$12,500. She then challenges me - tell you sure make money before, you don't believe..... Aiyoh    I told her just because the price has gone up doesn't mean she made money. She kept insisting she has made money!! How to argue like that?

My ex wife was very much into Chanel bags. I used to scold the heck out of her for even wanting to pay that much for a bag.

She would argue the same thing that the bag after 3 years can sell and she would get back her money.

What she never said or knew was in order for it to get good money it needs to be taken good care off and need to be spa-ed twice per year.