The REAL Cost Of RETIREMENT In Penang Island, Malaysia 2024 Edition With Budget Breakdown

[@corporatebreakoutcouple]

Thanks for watching! Comment "Penang Retirement" if its your dream retirement destination ❤

[@GyrotexGaming]

Loved your video and presentation. New subscriber!

[@corporatebreakoutcouple]

@@GyrotexGaming wow thanks so much! 😍 Appreciate it!

[@vwchan841]

Yes, Penang Island is my go to retirement spot for half of the year and I just bought in Batu Ferringhi. I can give the seaviews to my future generations.

[@corporatebreakoutcouple]

@@vwchan841 wow!! That's awesome!

[@xiaomashitu]

Welcome Retire in Malaysia 🎉

[@corporatebreakoutcouple]

@@xiaomashitu ❤️

[@christopherk7920]

Penang has everything I want for a wonderful retirement, my only gripe is the traffic. I would love to stay in Tanjong Tokong or around that area as it is more strategic. Thank you for the updates 👍

[@corporatebreakoutcouple]

@@christopherk7920 you're most welcome! The beauty of being retired is that you go out on weekdays on non peak hours and there is literally smooth traffic. We are hardly in traffic jams in Penang 😍

[@christopherk7920]

@@corporatebreakoutcouple good to know 🙂

[@constanceloh-s8g]

Hi John Tkss v much for sharing Yes, I'll definitely consider retiring in Penang

[@corporatebreakoutcouple]

@@constanceloh-s8g thank you for watching! That's exciting to know that Penang is one of your destinations for retirement!

[@congruent-thoughts8781]

Yes, this is why I did search and found your video. Thank you for sharing.I have seen many people from different countries who are very glad, finding the Island after have been in KL and are happy in or around Georgetown. But I will see this for my self and if my heart and stomach says yes, I like to stay. I thought about China too - a beautyfull country too - but from Malaysia, it it's much more easy to travel to China or Thailand, then from Europe or USA.

[@corporatebreakoutcouple]

@@congruent-thoughts8781 Thank you for watching our videos! Let us know your experience in Penang after your visit!

[@jerryxiao5855]

Great info. and thanks for sharing! Love the cost breakdown with a holistic view. Is there any information or resources you can share on private medical insurance plans and its coverage since some “home” insurance does not cover the cost except only emergency? Thanks a bunch!

[@corporatebreakoutcouple]

@@jerryxiao5855 a lot of people who retire in Malaysia actually do buy insurance in Malaysia. We are a unique case because we actually split our time between Singapore and Penang, so our insurances are all from Singapore. You can do a quick check online from AIA or Prudential Malaysia or even speak to a local agent

[@ratnoinamaew7822]

I loved it over there. Good info, one thing you really need to be aware of is "Mosque Noise" as you do not want to hear this at 4 am every day; that was the mistake I made when I booked accommodation just outside of Georgetown (Hoping for a quiet sleep); I guess its just a case of choosing accommodation then looking to see if a Mosque is nearby unless you have other suggestion? Other thing what about the west side? is there much to do there? do foreigners stay there? Overall I loved Penang, next time I think I will stay in Georgetown as I am a foodie, Batu Ferrangi is also a good possibility to stay - Is that the best beaches? I mean in terms of clean, clear water, does it get any better in other parts of the island?

[@corporatebreakoutcouple]

@@ratnoinamaew7822 Balik Pulau and Teluk Bahang has really nice beaches.

[@Swampzoid]

Thank you. I'd love to visit Georgetown Penang and possibly retire there. It seems to offer so very much.

[@corporatebreakoutcouple]

@@Swampzoid come on over!

[@garyt7232]

Appreciate the Penang vlog. Wish I was there right now. Here in the States, things are getting crazy over the election. No matter who wins, there will be unrest.

[@corporatebreakoutcouple]

@@garyt7232 we are watching closely as well. Because whatever the outcome is in the US, it impacts the rest of the world too

[@pklee7395]

Hi John I am a Singaporean living in Los Angeles for the past 20 plus years Considering retiring in Penang and will love to catch up for a drink with you when I visit Penang the next time

[@corporatebreakoutcouple]

Pm us!!

[@eddieyeoh4098]

Aiyo!! So cheep cheep ah!!! 🤗

[@corporatebreakoutcouple]

@@eddieyeoh4098 😂😂😂 Ssshhh... Don't let the Malaysians hear you 😜

[@paulsandford3345]

I am really considering Penang, one of my main concerns would be the constant heat 24/7 and the other would be the cost of medical insurance Malaysia?

[@corporatebreakoutcouple]

@@paulsandford3345 you can purchase local Malaysian insurance that covers hospitalisation, surgery etc etc. It's not costly and the coverage is at private hospitals, which Penang is known as a medical hub

[@DanielFernandez-jv7jx]

Thank you so much for these numbers. I would seriously consider retiring in Malaysia, and I think Penang is about as good as it gets for those who can take the heat, however the MM2H program has become very expensive, unless I settle on one of the two provinces on Borneo. "sigh."😢

[@corporatebreakoutcouple]

@@DanielFernandez-jv7jx there is still hope if you apply for SMM2H. You can stay in West Malaysia as long as you fulfill the minimum 30 days stay in Sarawak.

[@corporatebreakoutcouple]

@@DanielFernandez-jv7jx feel free to check out our latest update on SMM2H which we did just 2 weeks back

[@DanielFernandez-jv7jx]

@@corporatebreakoutcouple Thank you. I'll look into it.

[@teatree6228]

Sarawak is best place❤❤❤❤❤❤ Peaceful Natives and local chinese mixed in a harmonious province Pomynesian culture is so besutiful

[@johnyjsl9219]

I visited from the USA in September and found the weather suffocating. Are there months that are cooler or dryer? I will watch your videos to see how you spend your retirement days there.

[@corporatebreakoutcouple]

Penang island is all hills and sea. That's the reason why it's hot and humid. It can also be rainy certain months in a year. If you want breezy areas, Tanjung Bungah, Batu Feringghi is ideal. You can also spend some time up Penang Hill. Some people even opt to live up there for the cool weather.

[@corporatebreakoutcouple]

Penang is Fran's hometown. So naturally we spend more time there due to family and friends. That being said, we also spend lots of time in Singapore as John is from there and we also have lots of friends and family

[@teatree6228]

Go sarawak Cooler Lots of trees Cools down at nights

[@Luthaniel83]

Curious as to how long you can stay in Penang (Malaysia) before you need to go back to Singapore to do a U-turn? Or are you able to get some kind of retirement pass to stay there for a long term ?

[@corporatebreakoutcouple]

@@Luthaniel83 John is on long term visit visa, under spouse.

[@Luthaniel83]

@@corporatebreakoutcouple i watched another episode and realised wifey is Malaysian. My next questions is, what if both of us are Singaporeans? How would that work ?

[@corporatebreakoutcouple]

@Luthaniel83 there are 3 ways for a Singaporean couple. MM2H, Digital Nomad Visa and Business Visa We covered the various visas extensively in our previous retirement videos on Penang

[@Luthaniel83]

@@corporatebreakoutcouple i see. Ok let me slowly watch your videos. Many thanks for creating this channel and your replies ! Very informative. I myself travel to Malaysia often and retiring in MY was in my considerations. LOL

[@corporatebreakoutcouple]

@Luthaniel83 the easiest way to legally live in Malaysia for both of you would be MM2H - Malaysia My 2nd Home program. Alternatively, if one of you works remotely and is in the digital space, you can apply for the De Rantau visa (digital nomad visa).

[@edgevz]

How about doing a video on The REAL Cost of RETIREMENT in Penang Mainland ? Would like to explore retirement cost living in batu kawan, bukit mertajam or ard penang sentral

[@corporatebreakoutcouple]

We did a video on Penang mainland already. The cost of living is pretty much the same except for accommodation. It's around 35% less compared to Penang Island. This is due to land scarcity on the island whereas mainland has so much land.

[@sheldonwong1155]

Thank you for the video, I really apreciate your meticulous calgulations. BTW, are there any ways to rent a car instead of buying or clling a Grab?

[@corporatebreakoutcouple]

Absolutely! There are plenty of car rental options in Penang. There's the familiar brands such as Avis, Hertz and many many more

[@sheldonwong1155]

@@corporatebreakoutcouple Thank you for your response. I’m checking around.

[@richards8718]

What is the best way to rent a condo, you mentioned property guru is that the best one to use?

[@corporatebreakoutcouple]

Yes, i property and property guru

[@gothops2632]

Will the restaurants let you eat if you don’t want to buy a drink? The last time I was in Malaysia, the restaurant workers got very annoyed with ne when I said I didn't want to buy a drink. I think the drinks are ridiculously expensive in relation to the food. You are basically paying half the food price for a small drink. That's why I buy my water from the supermarket and carry it with me to drink. I don’t like being basically forced into buying a drink every time I eat out in Malaysia!

[@corporatebreakoutcouple]

@@gothops2632 Restaurants yes. Certain coffee shops aka kopitams no. Drinks at kopitams are very affordable - RM1.60 or so for hot drinks, RM2 onwards for iced drinks.

[@fireat40]

Restaurants make much more money on drinks than food. Thats's why some insist you buy drinks!

[@KevinTrickKnee]

How much would a solo upper class monthly budget be? With NO CAR.

[@corporatebreakoutcouple]

@@KevinTrickKnee You can lead a very good life in Penang with RM10k a month with no car. RM5k per month on rental in a very nice condo and the balance on meals, hobbies, utilities etc. If you want to include travel to other countries, then RM20k per month would be great.

[@CKology]

Great insights as always! 🟨

[@corporatebreakoutcouple]

@@CKology thanks CK!! ❤️

[@dlk3904]

for foreigners are there opportunities to make passive income via real estate?

[@corporatebreakoutcouple]

If you are looking for rental yield, it's not the best in Malaysia. The rental market is slow and low. Too much demand. That being said, you really need to do your own due diligence to spot good buys.

[@dashong8912]

Second is JB.

[@corporatebreakoutcouple]

@@dashong8912 that's the Singaporean dream

[@opagodaswirling9383]

Interesting -- but don't you think a bottle of Tiger beer is worth mentioning ? Btw , I recently got a quote for a tooth implant from a dentist in Ipoh.I thought it would be cheaper there . That was not the case . Any ideas about Penang costs for such a procedure ? Thanks .

[@corporatebreakoutcouple]

@@opagodaswirling9383 we prefer Guinness 😉 Not sure on the costs of tooth implants but you can check out this article : www.bangkokpost.com/thailand/pr/2272727/tooth-implants-costs-in-malaysia-are-worth-it

[@joeawk]

Retire to Pulau Langkawi for cheap beers

[@corporatebreakoutcouple]

@@opagodaswirling9383 You can Google the price of tooth implants in Penang. The price would really be dependant on the comfort level of the dental centre as well. We find that many dental places in Penang now look like spa centres, complete with sandals, TV, coffee machines and comfortable sofas in the waiting area. All of that no doubt will be pegged into the total bill.

[@corporatebreakoutcouple]

@joeawk a lot of wealthy people buy exotic cars in Langkawi and leave them there. They will head over to drive them around Langkawi occasionally

[@babibrain]

Once the lrt completed. Property prices will be double. Buy now before too late

[@corporatebreakoutcouple]

@@babibrain This is an interesting perspective. If this is Singapore, we would say yes, definitely buy now! For Penang, it remains to be seen if an LRT station will push prices up. Only time will tell.

[@gif24gt60]

How does penang compare to ipoh?😮

[@corporatebreakoutcouple]

Penang has the beaches, great hawker food, city life, art murals, heritage houses and it's a Unesco heritage site, island life. So more things to do in Penang. Ipoh has fantastic Cantonese cuisine, lots of space, nature, limestone hills, slower pace of life. So it really depends on what one is looking for.

[@peterfischer7084]

I wouldn't want to live at sea level because of the heat and humidity. Are there good retirement destinations at higher elevations you could recommend?

[@corporatebreakoutcouple]

@@peterfischer7084 If you are looking at South East Asia, every country is hot and humid. You can try Hanoi or Dalat in Vietnam but it is a communist country so no retirement visas for you to obtain

[@andregan3223]

Try Cameron Highlands. Nice cool temperature in the low 20s and decent living atmosphere

[@corporatebreakoutcouple]

@andregan3223 great idea! As long as one doesn't mind navigating the steep windy roads to get to the rest of Malaysia, CH is a great cool place to chill

[@teatree6228]

Sarawak or sabah

[@holdthel1n331]

All the things in Malaysia are price correctly.......... Not feeding the hands of the hungry landlord which are sucking us dry

[@corporatebreakoutcouple]

@@holdthel1n331 Rental in Malaysia is affordable

[@candywisdom]

The real cost to me is the mm2h, if go penang need to buy a property at 600-800k ringit to fulfill the basic silver requirement.... gosh but its difficult to confirm this decision and not knowing their property market! Would you have any suggestions please! thank you very much!

[@corporatebreakoutcouple]

@@candywisdom depends on your intention to be in Penang. If it's for own long term stay, sure. Go ahead and buy a property to live in. Just know that this money you put into the property will not be yielding you much, if any capital gains. If its just for a few years, less than 5 or even 8 years, don't bother purchasing any property there. Which also means don't bother with MM2H. Just rent. There are many ways to stay in Malaysia legally. MM2H is not the only way. We have done many videos on this so feel free to check them out.

[@candywisdom]

​@@corporatebreakoutcouplethanks, have watched all the penang videos from your site or course! Yea it seems if you stayed more then 90 days you will be questioned on next visit, and we have a cat so we felt we want he could be taken care if we got rejected by custom on entry... On top we have no relatives to fall back in singapore. No job or digital nomad visa to apply with. Hence didn't able to find another solution so far

[@corporatebreakoutcouple]

@candywisdom if your intention is to live in Penang long term, then MM2H makes the most sense. It doesn't mean that you will lose money when you buy property in Penang. You just need to know the purpose of buying the property. Is it for investment or is it for own stay? If its for investment, then be prepared for a long wait for capital appreciation and a low rental yield. If it's for own stay, then it doesn't really matter in the long term. Think of the property as an investment fee for your living conditions. A fee which holds its value and you can always take back most of your investment the moment you decide to give up MM2H

[@FrancoisT]

@@candywisdom I would suggest you contact a reliable agent and see what they can do. I know the Sarawak MM2H had different rules and allowed you to stay anywhere in Malaysia but rumour has it they may start (if not already) closing the gaps. As per the video, the property market is far more positive for renting, I would not buy property any time soon (and not just Malaysia) as I think the cost and risk to rent is much lower. Good luck and hope you get a solution - Malaysia/Penang is an amazing place.

[@candywisdom]

Thanks! I understand. If i were bullish malaysia property i wont be so worried somehow. Yes the east malaysia mm2h gap has already closed ​@FrancoisT

[@HS-nk1vw]

Routine dental cleaning in Kuching is MYR85

[@corporatebreakoutcouple]

@@HS-nk1vw Good to know! Dental fees will vary in Penang depending on where you go. The ones we go to looks like spa centres rather than dental clinics. They serve coffee, teas and the whole experience is next level to ease anxiety and fear of dentists.

[@teatree6228]

Oooh Thank you I shall go

[@wesgraham2262]

Beware of @joeawk. If you say something he doesn’t agree with, he will call you names and ridicule you as he just did to me, simply for saying that I like Cambodia. He said only losers will choose Cambodia and it doesn’t have anything to offer retirees like his Malaysia does. How messed up is that? What a snob!

[@corporatebreakoutcouple]

@@wesgraham2262 😱 Thank you for sharing. Our 2 cents is to not let all these comments get to you. We cannot control what people say but we can control how it affects us. Cheers! 🥰

[@teatree6228]

Cambodia is ❤ too and you get permanent visa there too. The khmer culture is beautiful

[@corporatebreakoutcouple]

@teatree6228 can you share what kind of visa does Cambodia offer?

[@andytai7773]

How ironic that there are 1.13 million Malaysians residing in Singapore and I bet 10% or more of it are from Penang. Would be so interesting to see those Penangites U-turn to ‘retire’ back in Penang

[@corporatebreakoutcouple]

@@andytai7773 👍🏻

[@DR-ps4fl]

Penang consists of Penang Island and Penang Mainland. Penang has more than 2m population. If you listen to the video carefully, he did mentioned Penang Island but not Penang

[@corporatebreakoutcouple]

@DR-ps4fl yes, it's literally in the title as well. We are only referring to Penang Island.

[@erictan9482]

Great video… what Visa must be secured to stay in Penang? What are the requirements? Thank you.

[@corporatebreakoutcouple]

@@erictan9482 if you are married to Malaysian, you can apple for long term visit visa and your spouse will sponsor you. There is always work visa aka employment visa And for retirement, there is MM2H, Malaysia My 2nd Home program We've done many MM2H videos, feel free to watch them

[@lkt357]

Wow! If can buy own apartment, monthly goes down to about RM5,000 (about SGD1,700). Can use income generate from CPF Life to sustain most of this.

[@corporatebreakoutcouple]

@@lkt357 yes!!

[@kennyyoutp]

I believe BW will be even more affordable right?

[@corporatebreakoutcouple]

Yes, mainly for housing. Everything else is pretty much the same cost

[@kennyyoutp]

@@corporatebreakoutcoupleNow still striving for living. I would love to retire in Penang too, especially in the Tanjung Bungah area. 😊

[@corporatebreakoutcouple]

@kennyyoutp yeah that's a great area

[@mrbbkk]

I think it is overbuilt and crowded.

[@corporatebreakoutcouple]

That's OK if you don't want to retire there. Plenty of other places in the world if you have the option to move

[@MrBlurpBlurp-hg3dj]

I'm planning to sell off my condo and move to the mainland or to Kedah as Penang is getting too expensive. It's because of tourist and expats like you, my 2nd home making this damn island expensive. We locals cannot afford to live here anymore.

[@corporatebreakoutcouple]

@@MrBlurpBlurp-hg3dj Really? Our family & friends in Penang are all locals because Fran is a Penangnite and we find Penang is affordable to live in compared to KL, Johor, Selangor. Housing may be cheaper in Ipoh but eating out, even in hawker centres, is more expensive than Penang island. We have travelled all over Malaysia the last 2.5 years and we know the prices and numbers very well.

[@corporatebreakoutcouple]

@@MrBlurpBlurp-hg3dj perhaps instead of moving out of Penang, you can look at ways to increase your income. Our friends and family in Penang are living very comfortably.

[@wesgraham2262]

None of what you say here matters if a foreigner cannot afford to stay in Malaysia because of the outrageously expensive MM2H retirement visa! Here is the cost in deposit alone >>> Deposits: Malaysia requires a minimum of US$32,000 (RM151,000). Thailand is not much better. They require a deposit of 800,000 baht which is US$24,000. The Philippines SSRV retirement visa costs US$10,000 or $20,000 depending on age. Cambodia 1-year ER retirement visa is ONLY US$290. Renewable yearly forever. Never have to leave the country!

[@corporatebreakoutcouple]

@@wesgraham2262 one can always head to other cheaper countries, definitely. There are always pros and cons in each country. Sometimes money isn't the only factor determining one's choice for retirement.

[@joeawk]

Am working in Cambodia. Yaks, Cambodia. Only losers retire to Cambodia which offers next to zero for retirees when compared to Malaysia in general. Among ASEAN, Malaysia offers the best value and convenience. My home state Penang is as per in this video is certainly a good choice.

[@wesgraham2262]

@ You are acting like a very arrogant and judgemental jerk. Why? What’s wrong with you?

[@wesgraham2262]

@@joeawkYou’re a real jerk buddy. Name-calling and being dismissive of someone else’s choice? Grow up or be silent!

[@corporatebreakoutcouple]

@joeawk we have friends working in Cambodia. We will visit them one day and create a video!

[@Lena-cj7cs]

Don't trust KZbin too much. That's all I can say.

[@corporatebreakoutcouple]

We totally agree! Do your own due diligence

[@varvoom]

It was a very interesting plan until your last video bit, where you rucksack your dog and all your plans become Gila.

[@corporatebreakoutcouple]

@@varvoom whatever do you mean?

[@varvoom]

@@corporatebreakoutcouple When you put your poor dog in a rucksack, denying its ability to run around, that is a sickening Gila mindset and all your retirement plans suddenly flew off to saner grounds.

[@corporatebreakoutcouple]

@varvoom that is a dog backpack. Malaysia is a Muslim country. Not all places allow dogs to roam freely, hence the backpack. We bring him places in a safe manner than let him stay home whilst we enjoy ourselves. Goes to show your level of ignorance with your comments. But thanks for commenting ya!

[@varvoom]

@@corporatebreakoutcouple which is called dog abused even in an Islamic state.

[@corporatebreakoutcouple]

@@varvoom 😂😂😂😂 We love how out of touch with reality you really are.

[@techeah3830]

Food safety is low : 1 palm oil has preservative, some koay tiau have formaldehyde, & make eyes blur. China apples have insecticide. 99% hor fan in Pg & Kedah are no match to London / Perak's. 99% bread & rice are no match to UK's. >½ of traffic lights ( on Pg island, PW & Kedah ) are stupid : only 1 road's traffic can proceed in a green light. Ayer Itam dam's water has mud. MBPP blocks open / road spaces to force users to pay for parking / fines. >½ of police cannot speak English.

[@corporatebreakoutcouple]

@@techeah3830 😂😂😂

[@amyooi884]

Only yummy delicious foodie. But no security. 😂

[@corporatebreakoutcouple]

@@amyooi884 security? What do you mean? If you are worried about safety & security, Penang is one of the safest states in the whole of West Malaysia.

[@greg2502]

Take it easy Chicken Little

[@corporatebreakoutcouple]

@greg2502 😂