Looking forward to retirement in a few years
Hi, I am new here and joined this forum as I am looking for a retirement forum.
I am currently 38 years old, a female locum GP Dr from Singapore and am looking forward to retirement in few years time. I am married with 2 young boys age 4 and 8 years old.
I would like to share my journey towards retirement and have advice from people who have already retired on life after retirement.
My husband and I were fortunate as we bought our current terrace house at the right time in 2010 with $300k profit from selling off our condominium. It was bought at $1.1 million and over these 3 years has doubled in value which enabled us to buy a semi detached house in Malaysia on full equity loan for $400 k (houses there are much cheaper than Singapore). In 2012, we also bought a small studio condo unit which will be completed soon by 2016 and then we can rent it out.
We hope to pay off our outstanding mortgage on our terrace in a few years time with Central Provident Fund savings and cash savings. Then, the rental from the condo can fund the semi-d in Malaysia and itself while the approx. $5000 rental income from our terrace can finance our monthly expenses when we move to live in Malaysia.
I am very excited at the thought that I will be able to retire or semi-retire soon and it is all made possible because of the good money we can make by investing in properties in Singapore.
Malaysia or Iskandar JB where our semi-d is has a much lower cost of living so we can survive with S$5K a month there. My expenses in Singapore monthly is twice that as the cost of car ownership is high here.
My children can study in an international school which is right outside my gated and guarded semi -d estate.
I will need to save also for a deposit to be made into Malaysia My 2nd Home scheme which mandates that we need to make a deposit of RM $300K which is equivalent to S$120K so prob can only retire in 5-6 years time when I am about 45years old.
Excited and looking forward to that day....