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.

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