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David and Liz: Building a Comfortable Retirement by Relocating to JB with MMH2

Is relocating to JB the right choice for your retirement? David and Liz, who live in Novena, have been considering whether the financial benefits of moving to JB are worth it. Read about their journey to see if life in JB could help you achieve a more comfortable retirement.

May We Introduce
David and Liz Chang, a couple in their early 60s, have spent their working lives in Singapore. David works as a business analyst, while Liz is a staff nurse. They own a fully-paid terraced house, which offers them significant financial flexibility as they approach retirement. However, the rising cost of living in Singapore has made them reconsider how they want to enjoy their retirement years. To make the most of their savings, CPF and a modest investment in Bitcoin, they've been exploring ways to upgrade their lifestyle without stretching their resources. Moving to JB, possibly by using the MM2H visa, has become an oft-discussed option for them. To go or not to go? That seems to be the question.

Lower Property Purchase Threshold for MM2H Participants
Why would they opt for MM2H, as opposed to using the regular 30-day chop? Well, one of the key reasons David and Liz are drawn to the MM2H visa is the lower property purchase threshold it affords them. Unlike Singapore's ABSD, the MM2H visa actively incentivises foreigners by allowing them to purchase homes at a lower price than those that don't hold the visa. For some states, the incentive can amount to RM100,000 or more. This windfall helps buyers with the opportunity to own a landed home in a desirable location. In JB, living in a spacious home, set in a leafy suburb, is actually affordable for David and Liz. Courtesy, at least in part, of MM2H.

Tax-Exempt Bank Transfers From Singapore
Another benefit that appeals to David and Liz is the ability to transfer funds from Singapore to Malaysia without incurring any taxes upon arrival. Since the MM2H visa allows for tax-free overseas bank-to-bank transfers, the couple can set up a standing order to periodically TT their savings to their Malaysian bank. Basically, they can rely on their Singapore-based funds to finance their lives in JB, transferring whatever they need, whenever needed, without worrying about additional financial burdens in Malaysia.

Lifestyle Upgrade With Expat-Style Living
No wonder that David and Liz are particularly excited about this opportunity to upgrade their lifestyle. With the very favourable SGD to Ringgit exchange rate, they can enjoy a more luxurious standard of living in JB. Better still, they plan to rent out their Novena home, which will generate quite a healthy rental flow. After all, once converted to Ringgit, this income at least triples their purchasing power in JB. In fact, the couple has calculated that this passive income stream alone allows them to afford an expat-style of living in JB, complete with access to the kind of pleasant extras that expats tend to enjoy. Resort-living indeed.

Stunning Natural Surroundings and Laid-Back Pace of Life
But separate from all the monetary benefits, as they approach retirement, David and Liz are also looking forward to a slower pace of life. JB offers them a more laid-back lifestyle, with beautiful natural surroundings, including greenery galore, holiday island beaches and hiking trails. Additionally, the contrast to the fast-paced environment of Singapore is palpable. Malaysia's more easy-going pace of life enables the couple to spend their retirement years in a more peaceful, scenic setting.

Thriving "Little Singapore" in JB
Now, one of the concerns that David and Liz had initially was the possibility of perhaps feeling a little isolated in a foreign country. However, JB is already home to a thriving Singaporean community. Many Singaporeans have already made the move across the Causeway and once the couple experienced the familiar vibe, they felt reassured in the knowledge they'll never be far from fellow Singaporeans. Besides which, given the many similarities with Singapore in terms of the makan, language and culture, JB offers quite a familiar backdrop to begin with, rendering any transition anxiety pretty much a non-item.

Easy Commuting via the Upcoming RTS
Although they'll be residing in JB, David and Liz will still have the option to visit Singapore frequently, all the more so once the upcoming RTS is completed. This direct link-up to the Singapore MRT will provide seamless travel between JB and Singapore. Once it's up and running, the couple expects that popping over to Singapore will be a breeze, especially since one of MM2H's privileges is limitless travel in and out of Malaysia and the fact that passport-free travel may one day also be permitted.

JB's Continuously Expanding Infrastructure
In addition to the lifestyle and discretionary spending benefits of rebasing to JB, the region's infrastructure is rapidly improving too. To wit, the city is expanding its Special Economic Zone (SEZ) and Special Financial Zone (SFZ), attracting investment and development. As a matter of fact, some quarters are comparing the greater JB area to the early days of Shenzhen. Either way, it looks like JB's future growth will bring even more amenities, services and opportunities to the area, making it an increasingly attractive destination for expats like David and Liz. Having a stake in JB's promising future is like the icing on the cake.

First-Rate, Affordable Healthcare
Healthcare is a major consideration for retirees and JB offers high-quality medical services at a significantly lower cost than in Singapore, for instance. And as it happens, some healthcare facilities in JB are actually owned by Singaporean companies, ensuring that the standard of care is indeed excellent. As such, David and Liz can access top-class healthcare without the need to travel back to Singapore for medical treatment, although the option to do just that is equally available of course.

Option to Rent a Home Before Committing
Before making a long-term commitment to purchasing a home in JB, David and Liz have the option to rent. This flexibility allows them to experience life in JB, explore its various residential estates and decide on the best location for their home away from home. Renting initially ensures they make a well-informed decision.

Flexibility to Return to Singapore
While David and Liz are excited about residing in JB, they appreciate the flexibility of being able to return to Singapore whenever they feel like it. Since they still own their Novena home, they have a secure base in Singapore. In other words, the couple always has the option to move back to their home country. Peace of mind.

Recapping
For David and Liz, residing in JB, particularly with MM2H, is the perfect way to maximise their retirement savings and enjoy a higher quality of life. They can look forward to a luxurious and peaceful retirement in JB and they'll never even lose their connection to Singapore. This is where Singaporeans are doubly lucky, because they get to eat their cake and have their cake. Or perhaps we should say "kueh" :)

Interested in learning more about retiring or residing in JB? Click MM2H.com.sg for the latest details.