M’sian receives RM100,000 inheritance, asks if they can retire at 29 by living frugally
A Malaysian wondered if they could retire by 29 and spend the next 40 years living frugally on their newly bequeathed inheritance of RM100,000 (S$32,378).
In a post shared on a Facebook forum page run by Ricebowl, a Malaysian job recruitment company, an anonymous user said they had only saved RM10,000 after five years of work. However, they “unexpectedly exploded in riches overnight” after being notified of the inheritance from a relative.
The 29-year-old lamented feeling exhausted with their job and not wanting to work anymore, but doubted whether the inheritance could sustain them until the age of 70.
“If I try my best not to spend money carelessly, not start a family, cook three meals a day, and live my days simply, is RM110,000 enough to last 40 years?” the writer wondered.
They also floated the idea of working a “relaxing” part-time job to supplement the inheritance.
Netizens don’t think amount is enough
Commenters uniformly agreed that RM110,000, after factoring in the RM10,000 they saved, was not enough for retirement at such a young age
“Young folks have never dealt with money before. Don’t have to say ringgit, even US$100,000 is not enough,” one netizen commented.
One user advised the anonymous user not to retire, saying she had walked a similar path. She had stopped working and gone on an extended break, but received a rude awakening just two years later.
“You never know what surprises life will throw at you, and the necessary and unnecessary costs you will incur,” the netizen shared. She added that the original poster may have to return to work after a few months and that employers may then question the long career break they took.
Instead, she urged the writer to apply for a one-month break from work to recharge instead of quitting completely.
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