I am 52 single (Ipoh) no debt-no credit card, got property no car, can co-habitate or commit with me 😊.
@bobafett575713 күн бұрын
Maybe its better for u to stay single forever ok
@kuanhy13 күн бұрын
I feel buying a property at this age is a risk for CL. He should consider self contribute to epf the excess money, including the inheritance and the fixed deposits.. this will keep his epf on a healthy 400k and compound dividends over 10 years if he retire at 60. As for emergency fund. He can rely on account 3. 10% of self contribution will be at there for any emergency use. I feel binding his money in property is just too much of a risk.
@mjsajida5 күн бұрын
Hi Sean, please elaborate more on the reverse mortgage scheme. What happens after one passed? The bank hold the ownership of the house? What if there's family members still living in the house, wife & kids?
@Hansescapade15 күн бұрын
Wow! Learned so much in this episode!!! Now i know there is reverse mortgage for retired citizens. Thank you for sharing!!
@iherng15 күн бұрын
Thanks for watching!!
@JoanKSX14 күн бұрын
Me too.
@bengjiun17 күн бұрын
The cruel truth is time is not on CL’s side. Loan tenure is going to be short and rent won’t be enough to cover the loan payment if he can secure one. He should just put the money in EPF with a healthy yield. Some of the hidden costs such as renovation and lawyer fees associated with rental property has not been considered by him as well.
@bengjiun17 күн бұрын
Alternative to invest in REITs
@yuenhowe11 күн бұрын
Hi sean, can talk more about reverse mortgage, never heard of that at all. Wat happen,such as What if i live beyond 100YO and bank already finish paid what they owe us?
@astudio655717 күн бұрын
Hi Sean, since he was from Penang can try apply through LPNPP Rumah Penang.. applicable for 1st home buyer.. application form can get from komtar.
@iherng17 күн бұрын
Thanks for sharing!! Hopefully he sees this.
@JoanKSX14 күн бұрын
Hopefully he will get since I heard they give priority to family with spouse and children and low income, not sure about single people, and the location of house is based on the government's choice, not the purchasing person. Correct me if I'm wrong, thanks
@yhyau23517 күн бұрын
Once passed 50, unless you have more than 4 million cash in bank, forget about property investment. It's going to be negative cashflow every month. Better just put in good dividend stocks
@iherng17 күн бұрын
At this rate, it's not really investment anymore lah. Just having a roof over the head and certainty to not have people chasing us out from any house. But I definitely agree on the dividend stocks, but based on the background story I'm not even sure this audience knows anything about stock buying...
@yhyau23517 күн бұрын
@ I'm someone who went thru this path of buying (not 1 but 2 properties) after 50. Now both under water and regret like crazy. Could have kept the cash and afford to rent a nice place for 20 years .
@GodOfTetris17 күн бұрын
When u are past middle age, try NOT to withdraw from EPF unless you have account balance more than RM400k. Unless you are good at investing to grow your money, EPF dividends are probably the safest & fastest way to accumulate your savings for old age. More importantly, keep monthly commitments & loan repayments at the LOWEST amount possible (absolutely the right thing to do & WILL very likely affect your financial situation at some point). Keep in mind the possibility that you will lose your property in case of default.
@iherng17 күн бұрын
Great point of playing it safe. Thanks for sharing!!
@mosquitoooooooooo17 күн бұрын
Hmm...looks like the former Sungai Besi Airbase next to the Smart Expressway is going to build a Theme Park by Sim Leisure and some residential houses....very big place to play around by Sim Leisure Group...something for you to check and review. Very interesting since many people are so bored of Sunway Lagoon already...
@kennyng833515 күн бұрын
No Bandar Malaysia?
@bryanchow898717 күн бұрын
Hi Sean, can you do a review on Mulberi Condominium, Segambut? 😊
@nickloong18 күн бұрын
Maybe he should consider getting a 3 room apartment and renting out 2 of the rooms since he's single. That is if he can live with that lifestyle. That'll be the best option at his age.
@iherng17 күн бұрын
That's part of the proposal mah. Get an affordable housing project by the government, which usually comes in a 3 bedroom format. Then rent out to compensate the installment, 15-20 years later then it'll be secondary income.
@nickloong17 күн бұрын
@iherng Believe it or not, but before your vlog reached that point of conversation when i was watching it, I already posted my comment. Paiseh lah bro. Haha!
@jylaw949518 күн бұрын
He has RM50k in EPF account 2, not the total amount. His total EPF should be around RM200k for both Acc 1 and 2.
@iherng17 күн бұрын
You are right. But you can only withdraw half by 55, the other 50% at 60. The problems are still pretty much the same haha.
@lowtahcheng15 күн бұрын
at 50, normal salary worker, better dont buy property for investment. You can't flip becos its a normal value property, you can't sell becos there are always nicer and newer ones coming up, then u have no choice but to hold the property until your last day. Then what happens? transfer title to relative? Do it only if u have loads of cash. If not, just rent and be happy. If nobody want to rent to u, just go into retirement home. Ipoh got so many retirement homes.
@JoanKSX14 күн бұрын
Retirement homes also need money right? I heard the Buddhist Old Folks' Home in Penang need to pay RM3000 monthly...
@lowtahcheng12 күн бұрын
@JoanKSX ofcos need money. But it will cost him lesser than buying a property n be stuck with it till death.
@JoanKSX14 күн бұрын
I don't know but in Butterworth area, I heard 100k property yielding RM600 per month. Not sure about island site.
@iherng14 күн бұрын
Well I'm not too sure too because I got no direct location or project. But thanks for sharing Joan!!
@JoanKSX14 күн бұрын
@iherng My pleasure
@crazyhellfirez17 күн бұрын
49 as a teacher in private school getting rm3500 only?! seriously? which private school? so KEDEKUT!
@iherng15 күн бұрын
Er… if the teacher is not satisfied they can always choose to leave right?
@JoanKSX14 күн бұрын
That's the real life of private sector... I guess. My mother worked in private factory for more than 40 years, still her last monthly salary less than an overtimed working foreigner labour. OMG
@101modifiedcars13 күн бұрын
Thank u sir, really appreciate the advice :)
@polinaasmr34017 күн бұрын
own nothing since 50 just rent and be master tenant and rent out the other rooms.. no loan commitment no hassle .. not worth to commit somemore loans at 50 not worth it. kudos for no credit card debt.. damn frugal la ..
@JoanKSX14 күн бұрын
Credit card debt are charging crazy interest rate. Better clear up every month than giving more money back to the bank, for real
@zengirl51211 күн бұрын
Try to increase your passive income, build your income to attain building financial wealth. With his current standing, tough to get investment property as that range may not be great. Build your income and buy commercial shoplots etc. Shop around for distressed sale. You might get one jackpot.
@iherng11 күн бұрын
Huh?! Commercial shop lot? He can barely own an affordable home by state gov lah…
@SaadonAksah17 күн бұрын
300k for a walk up in penang? 😱
@revolusirevolusi-jw7tn17 күн бұрын
He pulled the figure from his ass
@iherng17 күн бұрын
No lah. His initial plan was to get one about RM 180k-RM200k range.
@asdsad1718 күн бұрын
you vill own nothing and you vill ve happy.
@heyitsj-qf7wi15 күн бұрын
or be a youtuber.... u can make ridiculous amounts of money
@May-cz2uo17 күн бұрын
Just rent room and live off EPF.
@iherng17 күн бұрын
Yea. But what if people don't wanna rent to you?
@ssddsquare18 күн бұрын
What about epf? In few years, the epf account will turn into accout emas past the retire age and the past years dividend can match the rental roi without the fuss of maintenance, fees, and tax.
@ssddsquare18 күн бұрын
12:23 100k plus can generate 1k rental meh? Is that even realistic?
@iherng17 күн бұрын
Well I just look at the property portal while recording. You can check it out...