We can all retire in luxury at 55 if we have no dependents at 55 and our
HDB flat is paid up. Here's how.
Retire in Penang. Penang is a good place to retire. Many expats all over the world are flocking to Penang to retire. Penang has a lot of interesting places to visit and explore. Penang is a multi cultural place and we can fit it well. People are very friendly.
Penang has a low cost of living for a retired couple.
- Rental for a 3 bedroom condo, facing the ocean RM1500 pm
- Food and utilities RM1000 pm
- Transport RM300 pm (assume purchasing a RM50k car in cash)
- Medical RM200 pm
- Entertainment RM500 pm
- Misc RM500 pm
- Total spending RM4000 pm
How do you finance your retirement expenses in Penang?
- Rent out your paid up
HDB flat S$2500 pm
- Convert to RM, get RM7250 pm
- Savings RM3250 pm
So, if you have an open mind, you can enjoy a luxurious retirement in Penang. You can live in a condo with an ocean view and own a car.