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Michael Ong's MM2H Retirement Dream in JB At 55 years old, Michael Ong, a widower from Bishan, is considering early retirement. After spending decades in the corporate world, he's now ready to shift to a more relaxed, more laid-back lifestyle. With his home in Bishan fully paid off, Michael plans to rent it out and use the rental proceeds, along, optionally, with his CPF savings and his fixed income investments, to pay* for his new life in JB. Why JB Appeals to MichaelMichael is drawn to JB's much lower cost of living, first and foremost. As a result of the boost in disposable income, living in JB will enable him to enjoy a comfortable, indeed expat-type lifestyle, without any financial worries. From housing to everyday expenses, everyday purchases, bills and subscription charges, JB offers the kind of affordability that simply isn't possible in Singapore. In a nutshell, thanks to the favourable cost of living and currency exchange arbitrage opportunities offered by the two neighbouring countries, Michael's rental SGD income will stretch by a factor of at least three once converted to Malaysia Ringgit.For someone who values his independence, JB provides the perfect mix of relaxation and convenience. So Michael plans to rent a home in JB initially, giving him the chance to explore the area and experience life in Malaysia, i.e. on his regular 30-day social pass, before transitioning to the MM2H visa and buying a property. Whilst the social pass may suffice for a while, eventually, it makes more sense to get MM2H. The flexibility of this long-term visa is ideal for his retirement plans, as it allows him to reside in JB for at least 10 years, without the hassle of visa runs or worrying about one day having to clarify his 30-day chops when going through CIQ. , Benefits of the MM2H Visa for RetireesThe MM2H visa offers long-term residency for up to 10 years, which can be renewed. For retirees like Michael, this provides the peace of mind that comes with knowing he can stay in Malaysia without worrying about the immigration issues. He can take his time settling into JB and can explore to his heart's content all the lifestyle benefits it offers.JB also provides a more unhurried pace of life, one, in fact, that Michael is looking forward to, after years in Singapore's fast-paced environment. He can spend his time enjoying the local culture, trying out the many local shopping malls and visiting the numerous nearby natural attractions. Incidentally, the food scene in JB is another significant JB draw, with cheap hawker centres, local cafés and plenty of fine dining establishments offering a wide range of choices, including copious buffets at very friendly process. Healthcare in JBJB offers excellent healthcare options, making it a popular choice for retirees and expat families, alike. Its various private hospitals provide a wide range of medical services, from routine check-ups to advanced surgical procedures, all at significantly lower costs compared to Singapore. The medical staff are highly trained, with many specialists having international qualifications, ensuring a high standard of care.For Michael, the availability of top-quality healthcare, coupled with the proximity to Singapore for any additional medical needs, offers both peace of mind and cost-effective health management, making JB an ideal retirement destination. Seamless Connection to SingaporeBeing able to return to Singapore easily is excellent, no doubt about it. And with the RTS soon to be completed, commuting between JB and Singapore will be quicker and more convenient than ever. This allows Michael to remain closely connected to his family and friends in Singapore, ensuring that he can maintain his social life across the Causeway, whilst also enjoying the benefits of living in JB.Incidentally, JB has seen a growing community of Singaporean citizens and retirees. This community benefits from the strong social networks forming among expatriates and locals. The increasing number of Singaporeans settling in JB has also led to a rise in amenities and services catering specifically to this demographic, something Michael will of course also benefit from. Considerations for Relocating to JB?When evaluating a move to JB, it's vital to consider the local context. While safety is generally not a major concern, JB's security dynamics are distinct from those in Singapore. Singapore's unique safety notwithstanding, as with any city, minor incidents can occur. By exercising basic caution and awareness, however, we can confidently minimize potential risks.JB's transportation system also requires a bit of flexibility. Unlike Singapore's integrated network, JB's public transport isn't quite as comprehensive. For one thing, there's no MRT in JB and buses tend to run less frequently than we're used to in Singapore. Of course, the good news is that Malaysia's budget-friendly cars present an attractive alternative; with cheap locally-made and imported cars, owning a vehicle in JB is a very economical choice, especially given the minimal maintenance expenses and very low petrol price. In fact, owning a car in JB resolves any transportation challenges right off the bat. Affordable, Stress-Free RetirementMichael sees retiring in JB, combined with the MM2H visa, as the perfect way to retire in comfort, close enough to Singapore to be considered next door, yet without the high costs of living that living in Singapore entails. Additionally, JB offers the leisurely pace of life he's been aching for, as well as a low cost of living, without having to foresake the conveniences of modern-day life that he needs to enjoy his retirement fully. It appears, for Singaporeans at least, that retiring in JB enables them to eat their cake and have their cake.Knowing this goes some way in explaining why it is that more and more Singaporeans are getting ready to follow in Michael's footsteps. After all, a lifestyle boost opportunity this rare probably comes along only once in a lifetime. If you, too, want to explore retiring in JB, click MM2H.com.sg for all relevant information. *With MM2H, all bank transfers from Singapore to Malaysia are tax-free, covering a broad range of income sources, including rentals, fixed deposits, dividends, CPF and capital gains. |
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