Assisted retirement living could cost approximately 60,000 a year in 2024.

     In Asian culture, the idea of placing an elderly loved one in a nursing home may not be well-received. However, caring for an aging individual is a full-time commitment, and not everyone can stay at home and provide full-time care.

This is where the concept of assisted living comes into play, ensuring that the elderly person is comfortably cared for.

The average monthly cost for a semi-private room with basic care services is RM2000. A private room with professional and specialized healthcare provided by trained nurses and in-house doctors can cost up to RM8000 a month. Additional services like diapers may incur separate charges.

Monthly Costs:

Shared Room:

Walking, assistance with ADLs: RM2500 - RM 3500

Bed-ridden: RM2300 - RM 3300

Single Room:

Shared bathroom: RM3000 - RM 4000

Attached bathroom: RM3500 - RM 4500

Couple: RM4000 - RM 5000

Glove+Pad+Diapers: RM400

Lifestyle enrichment: RM200 -RM500

    The prices cover 24-hour care, assistance and nursing, health check-ups, 5 meals a day,  Astro TV, and laundry. All rooms are fully air-conditioned. Reflexology/massage or physiotherapy usually charges separately. Medical-related fees are charged separately and prices vary according to care and treatment.

On average, here’s how much you’ll spend in a year in a nursing home:

Multiple-sharing room: RM3000 x 12 = RM36000

Diapers: RM400 x 12 = RM4800

Medical check-up at a private hospital: RM1500

Medication & supplements: RM200 x 12 months = RM2400

Annual premium for medical insurance: RM6000

Lifestyle enrichment: RM500x12 months = RM6000

Total: RM56700

Please note that these costs are estimates and the actual costs may vary. 

Do comment and help find out the extra cost which I might missed out.

How Much Does It Cost to Retire in Malaysia in 2024? 40k? 50k?

    Suppose you’re aging gracefully with no significant health issues, but you might need some help with household chores, which would require hiring a maid. You’ve settled your mortgage and car loan and have no outstanding debts, and you wish to lead a simple lifestyle.

Here’s an estimate of your average yearly expenses in today’s value:

• English-speaking maid: RM1,600 X 12 months = RM19200
• Private hospital medical check-up: RM1500
• Medication & supplements: RM200 x 12 months = RM2400
• Annual medical insurance premium: RM6000
• Groceries: RM900 x 12 months = RM10800
• Transport (fuel & toll): RM250 x 12 months = RM3000
• Annual 3-day vacation within Malaysia: RM1200
• Utilities (water, electricity, etc.): RM200 x 12 months = RM2400
• Total: RM46500

However, this is a very cautious estimate and overlooks many of the complications associated with aging.

It simply presumes that the elderly individual can live semi-independently with minimal assistance. But that’s not always the case.

As we get older, our mental and physical health declines, and there may come a time when living alone is no longer feasible. That’s when assisted living becomes necessary.