would you rent your apartment to a frail looking 70 year old man?

If you don't, many others would. Old age pensioner is not known to pay higher for rental.

This post has been edited by icemanfx: Jul 26 2022, 07:27 PM

dunno ler, my family said landlord don't like to rent to single old people.... risk of dying in their unit...

so owning a place, even if single .. is important lo....

Although I am inclined to rent , but as I get older, I do see their point....

This post has been edited by Chrono-Trigger: Jul 26 2022, 07:36 PM

Imo house is a must. Wanna save then buy somewhere cheap (need commute further), or get cheap second hand house (likely need renovate more for repairs).

Up to you wanna go for condo or landed.

This post has been edited by Davidtcf: Jul 26 2022, 08:01 PM

Another thing is

Landlord can ask for a raise after contract and this will definately take a hit on your cost of living

And with a fully paid house, you have one lesser thing to pay after you've retired

Holding Malaysia Ringgit for FIRE = playing fire. Look at Sri Lanka, and good luck.🤞

😬😂
A very large portion of accumulated saving and assets of majority of malaysians is being held in MYR.
What are the current composition ratios of your net assets between MYR versus Non MYR?

This post has been edited by MUM: Jul 27 2022, 06:08 AM

Chances to get unit bashed up, unpaid rental, etc is higher among the younger tenants. Landlord need to weight risks and decide.

With supply > demand and more new supply, rental of most units is unlikely to rise in the foreseeable future.

For those who can't save on rainy day, blame no one but themselves. Born poor, not own fault. Die poor, own mistake?

Nope, my beloved parents do not owe me anything . I am blessed they did not uphold the antique traditional mindset into my upbringing.

I just want to make it clear if a parent bring out a child in this world, that is on parent's choice / decision.

The irony of conservative parents, once children sustain themselves and never return the favor (in parent's own term), they will be automatically labelled as ungrateful son/ daughter.

Or Turkey, another moderate islamic country.
2012 USD1=TRY1.78
2022 USD1=TRY17.80

This post has been edited by MGM: Jul 27 2022, 10:44 AM

Speaking as a parent - i agree with U that children never had a say, it's the parents' choice/decision on the children's being conceived and born.

Thus, IMHO, it's the parents' duty to do their best to grow their children to be able to care for themselves and hopefully, others like their partner, own children & help out in society. All i want from my kids are to see them - f2f or video-calls, and if possible spend some time with them.

agree... this is why I'm investing more overseas such as US and SG. Using their currency is a safer bet.

still got invest in Bursa but just a small amount in banks and REITs. And also some emergency fund.

This post has been edited by Davidtcf: Jul 27 2022, 11:44 AM

Imagine hundreds of thousand ppl doing this with millions.

yea, that is why many rage when they wanted to implement tax on incoming money transfer from overseas this year.. those VIP ppl themselves have much vested interests in US, EU and elsewhere too. Good thing this plan kena postpone again.

This post has been edited by Davidtcf: Jul 27 2022, 01:21 PM

Above is indeed a very tricky issue. In Spore, a Parent Maintenance Act is passed. This mean if parents when old feel children are not feeding/looking after them etc even if they are financially capable to, the parents can sue their children in court to claim maintenance (lump sum or monthly). The fact this is passed as a law indicates the number of such cases happening in Spore. I think in Msia should be happening the same but unfortunately no corresponding law to protect the parents.

Per an article published 11 yrs ago.
1 in 3 Malaysian elderly abandoned

A recent report has found that nearly one in three Malaysians aged 60 and above have been abandoned by their children, prompting some to call for a law similar to Singapore’s Maintenance of Parents Act, TodayOnline reported.

The 2010 census conducted by Malaysia’s Department of Statistics last year showed that there are 1.1 million male and 1.2 million female senior citizens aged 60 and above in the country, the New Straits Times reported yesterday.

Of those, about 675,000 – or nearly 30 per cent – have been abandoned and receive no financial support from their children, according to the recently released Fourth Malaysian Population and Family Survey conducted by the National Population and Family Development Board (LPPKN).

https://www.google.com/amp/s/www.theborneop...bandoned/%3famp

This post has been edited by MUM: Jul 27 2022, 03:35 PM

So 11 years ago, there is a call but 11 years later no outcome becuz the govt feel this is not an important issue? Or 11 years later the numbers have gone down from 30% so there is no need to have such a law? Hmmm....

In that 11 yrs old article,... There were mentions of,.
"Malaysia’s Women, Family and Community Development Minister, Datuk Seri Shahrizat Abdul Jalil, said filial piety is “inherent in our culture” and only needs to be encouraged by means other than fines.

“Rather than a law to punish children who abandon their parents, my ministry believes in engagement via advocacy – by promoting close family relationships and care for the elderly,” she said.

Legal, advocacy and public education manager for women’s rights group Sisters in Islam, Suri Kempe, said a punitive parents maintenance act will not deter the unfilial from dumping their aged parents in welfare homes or hospitals.

agreed.

I feel it is disgusting when some parents born child to treat / build the child as their future banks / ATM machine / slaves.

I am fine if older generation's parents to have such thinking, but for newer generations, i don't expect so. If i have childs, i will give them money, not asking money from them.

Actually your above sentence go the other way too. Some born child treat their parents it is their mandatory obligatory to give them monies to spend. They retort you give birth to me so you better give me monies spend else why give birth to me. Sounds familiar in soap opera? Well it happen in reality too. So don't this kind of thinking disgusting as well? Parents are born to give monies to children even when they are grown up and they can start earning monies. Once parents monies use finish, bye bye grown up child leave.