Retire In Malaysia With $200,000 Of Savings?: "Malaysia’s cities offer the modern amenities that Westerners demand, in exotic surroundings made for outdoors gawking, browsing and noshing.
All this for eye-opening prices. According to Numbeo’s cost-of-living figures, a one-bedroom apartment in George Town averages $175 in the city center, and $140 in the suburbs. A centrally located three-bedroom apartment runs around $465. For buyers, condo prices run $136 per square foot. (Overall cost of living in Kuala Lumpur will be 20% higher, with rents costing three or four times as much.)
Pocket money goes farther in Malaysia, too. A meal at an inexpensive restaurant runs as little as $2, and a three-course meal for two at a mid-range restaurant averages $15. A trip on an efficient mass transit system is 56 cents.
ESTIMATING YOUR COST OF LIVING
The cost-of-living site Numbeo provides a breakdown of consumer prices, including real estate costs, in the Malaysian cities and towns most attractive to expats. You need to run the numbers for yourself to determine whether you require expensive or moderate shoes and booze. But it shows that a couple can live a “moderate” lifestyle in a one-bedroom apartment in the center of George Town for as little as $1,065 monthly, even if they eat Western food at home, dine out fairly often and keep up a health club membership. Add in several vacations a year and a few other amenities like taxis, and costs could go to $1,565 a month. Upgrade to a three-bedroom centrally located apartment and it rises to $1,870 monthly.
At the lower limit for a couple in George Town some basic math suggests that your $200,000 savings would last more than 15 years, though only eight at the upper limit as described.
This is just a back-of-the-envelope example, of course. It doesn’t include taxes or medical costs, and only you know what other unavoidable expenses you may incur. It also assumes your monthly expenses stay exactly the same, that your retirement savings don’t grow and that you won't have any other source of income.
ADD IN SOCIAL SECURITY
Most Americans get Social Security payments, of course – an average $1,328 a month ($2,176 for a couple). These will cover a good chunk of your monthly expenses, stretching your savings further. Ditto if you find a place out of a city center or share the apartment."
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All this for eye-opening prices. According to Numbeo’s cost-of-living figures, a one-bedroom apartment in George Town averages $175 in the city center, and $140 in the suburbs. A centrally located three-bedroom apartment runs around $465. For buyers, condo prices run $136 per square foot. (Overall cost of living in Kuala Lumpur will be 20% higher, with rents costing three or four times as much.)
Pocket money goes farther in Malaysia, too. A meal at an inexpensive restaurant runs as little as $2, and a three-course meal for two at a mid-range restaurant averages $15. A trip on an efficient mass transit system is 56 cents.
ESTIMATING YOUR COST OF LIVING
The cost-of-living site Numbeo provides a breakdown of consumer prices, including real estate costs, in the Malaysian cities and towns most attractive to expats. You need to run the numbers for yourself to determine whether you require expensive or moderate shoes and booze. But it shows that a couple can live a “moderate” lifestyle in a one-bedroom apartment in the center of George Town for as little as $1,065 monthly, even if they eat Western food at home, dine out fairly often and keep up a health club membership. Add in several vacations a year and a few other amenities like taxis, and costs could go to $1,565 a month. Upgrade to a three-bedroom centrally located apartment and it rises to $1,870 monthly.
At the lower limit for a couple in George Town some basic math suggests that your $200,000 savings would last more than 15 years, though only eight at the upper limit as described.
This is just a back-of-the-envelope example, of course. It doesn’t include taxes or medical costs, and only you know what other unavoidable expenses you may incur. It also assumes your monthly expenses stay exactly the same, that your retirement savings don’t grow and that you won't have any other source of income.
ADD IN SOCIAL SECURITY
Most Americans get Social Security payments, of course – an average $1,328 a month ($2,176 for a couple). These will cover a good chunk of your monthly expenses, stretching your savings further. Ditto if you find a place out of a city center or share the apartment."
'via Blog this'
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