Is This A Possible Reflection Of Singaporeans Moving Towards Johor For A More Sustainable Retirement?

This is going to be a relatively short post just to show the similarities of what the Hong Kongers are thinking and doing, compared to what some Singaporeans are thinking and doing.

Last month, I came across this video by Channel News Asia (CNA) Insider, discussing how Hong Kongers themselves think that it is more beneficial overall for them to move to Mainland China to reside during retirement years, in more affordable areas like the Greater Bay Area.  According to the interviewee Ms Mandy, with a retirement fund of HKD 1M, it does not last long in Hong Kong, but with the same amount, it can definitely last much longer in Mainland China, coupled with a better quality of life.  The amount available will seem to have greater value because goods and services are generally all cheaper in Mainland, residences are more spacious and the pace of livelihood is slower, which is more suitable for retirement living compared to the fast-pace life in Hong Kong.

Upon watching this, it basically seems to reflect the situation here in Singapore, with some Singaporeans having the intention to move to Johor, Malaysia, or even other regions like Kuala Lumpur or Penang, to spend their retirement years.  In fact, there are already quite a handful percentage of Singaporeans currently spending their retirement years in Malaysia.  This is mainly due to a stronger Singapore currency, which make goods and services in Malaysia seem more affordable, larger residences which means more space available, and a slower pace of life compared to Singapore.  A simple comparison will show that all the reasons Singaporeans have for wanting to move to Malaysia are similar to why Hong Kongers want to move to Mainland China.

However, besides the above push factors for the move, there are also pull factors that made many Singaporeans reconsider this action.  Some of these pull factors considered are accessibility of healthcare, ease of application of various long term visa like 'Malaysia My 2nd Home' (MM2H) and general safety (this is especially of concern recently due to the kidnapping case that happened in Johor).  These are definitely important points of consideration as they will affect how comfortable and fuss-free one is experiencing during retirement in another country.  

As much as it is up to individual to consider their final decision whether to make the move or not, I will definitely be moving back to Johor when I hit my FIRE goals.  However do note that I am so definite in my decision because I am in a different scenario since I am a Malaysian (Singapore Permanent Residence).  Therefore the above points of consideration are non-existent for me because as a citizen I have access to affordable and relatively quality healthcare in Johor, I need not worry about any visa issues, and to me, Johor is not as unsafe and scary as social media projects it to be.  I believe that with respect to safety, it is the same as when we travel overseas.  Just be wary when walking outdoors, especially in the night time, and just remain vigilant and have basic common sense not to flaunt any form of wealth and all should be fine.

Most importantly, find the most suitable place for yourself to enjoy your golden retirement years.  After all the hard work, it is important that you live your golden years to the fullest.  The location, though important, should not be the sole determining factor.  Proximity to friends and family so that you remain socially active are just as important.  Most important, retire active, remain happy.  Barista FIRE, here I come...!