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Living Like Expats in JB: A Couple's Dream Retirement As a couple in our 50s, with our children grown and independent, my wife and I have been exploring the idea of moving to JB by applying for this Malaysia My Second Home visa. With our condo in Singapore fully paid off, we can rent it out for about S$4-5k per month. We believe that this rental income, in ringgit, allows us to live a very comfortable life in JB. But additionally, we have sufficient funds in cash and investments that generate steady income, which we can also tap into at will. All of this should provide us with the financial freedom to really enjoy our retirement years there. The MM2H visa is an attractive option for many reasons. It allows us to stay in JB long-term, providing a stable and secure environment for our retirement. But the tax benefits are another major draw. Because all income from overseas is tax-free for holders of the MM2H visa. For us, this means that neither our rental money from Singapore, nor our investment gains will be taxed when we remit it to our bank in JB. Obviously, this is a great financial boost, especially since it comes on top of the already much lower cost of living that side. The Expat Way With all these monetary tailwinds, JB offers a lifestyle that is both relaxed and luxurious, particularly with the Singdollar getting us 3x more bang for our buck in JB. We already calculated and found that we can afford to live in a nice landed house, for instance. Of course, in Singapore, we can only dream of a landed. But by changing from SGD to MYR, we instantly triple our spending power, allowing us to enjoy a high standard of living, something like an expat standard of living. We're quite excited about this. We've worked hard all of our lives and we feel the time has come to enjoy the fruit of our labour. For us, MM2H is like a godsend, a unique opportunity, one we feel we have to take. But we've also considered the convenience factor. Because the upcoming RTS means we can travel between JB and Singapore whenever we want. This closeness of JB to Singapore was already ideal for us, but with RTS, it's even closer. Like this, it's absolutely perfect: we get to enjoy a luxurious and more laid-back lifestyle in JB, but we also stay connected with our family and friends in Singapore. Talk about having our cake and eating our cake :) And let's not forget that culturally, we'll likely feel quite at home in JB. Our shared history, similar cuisine and common languages make it easy for us Singaporeans to integrate into JB society. Plus, the growing community of Singaporeans in JB also gives a sense of familiarity and probably support, making the transition even easier. In fact, we've heard that there's quite a lot of Singaporeans who are contemplating this move, which would probably increase home prices in JB. This is why we've actually already submitted our MM2H application. If all goes well, we should be in JB before the end of the year. Can't wait! Other Benefits By the way, we found that the MM2H visa also offers many other benefits, such as access to really good, yet affordable healthcare. Even better, some of the hospitals and clinics in JB are run by Singapore medical groups. So, we've decided that, for us, this is an opportunity to enjoy our retirement years to the fullest. Living a life of comfort and convenience, whilst still being close to our roots in Singapore. We believe that moving to JB with the MM2H visa is the best decision for us, offering a better quality of life, financial security and easy-going lifestyle. Anyway, if you want to take a look at MM2H for yourself, just visit the MM2H.com.sg website. George (and Janine) Lee, Singapore |
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