Regarding health insurance I have local Malaysian health and hospital insurance, which suits all of my needs. Most of the expats I know here have local insurance instead of paying extremely high fees for international health insurance policies. Healthcare in Malaysia is excellent and a fraction of the cost back home. Most expats here believe that the high costs of international policies are overkill because they are based on US payouts and costs. I must point out at this time that even though we, as American citizens have paid a fortune into Medicare, the simple fact that we live abroad disqualifies us from receiving the Medicaid benefits which we paid for. Besides this penalty for living abroad the US also penalizes us expats by requiring us to report our bank accounts and the amounts to the Department of the Treasury and also the IRS. These laws have caused some banks not to offer banking services to US citizens abroad.
Once I took care of the banking and healthcare issues I was ready to move. I sold my house, transferred the money to my Penang account and left for Malaysia on the 4th of July. I bought a condo and a new car and was all set to start my retirement life in Malaysia. By the way unless you buy a locally produced car, be prepared to pay 3 times as much for a safer foreign made car, such as Toyota or Ford. I have now been here almost 5 years and I guess I have almost gotten used to living here. I still haven’t gotten used to the extreme heat and humidity, but I am perfectly fine with the food and everything else. The cost of living here is very reasonable, when it comes to most items. Food is cheap unless you buy the few imported items available from back home. Some items such as vitamins are very expensive, so I order mine online which saves a lot of money, even including the shipping costs.
I find the people here to be extremely friendly and helpful. I do not hang around the expat community, as I prefer the company of local friends. Unfortunately there are many expats I know who do not choose to mix with the locals or take part in the local culture. There are many expat groups, as well as communities, for people who wish the company of fellow expats. I personally believe that if you choose to live abroad you should be involved in the community you have chosen to live in. Living abroad is not for everyone, but for those adventurous souls who have the courage to try something different I strongly recommend it and I also highly recommend Malaysia as a possible retirement home.
Click for more about Malaysia.
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I am a single woman 55 years old trying to live off of my Social Security each month. I am considering a move to Malaysia would I be able to get by on $800. USD a month and be comfortable ??
Linda, if you don't live a lavish lifestyle you could live fairly comfortable.
you skipped many details,how old are you and what is your tax situation?
don't mean to pry,but comments on US citizen looking to live in Malaysia,what is the tax situation and medicare ?
also you mention medicare and then refer to medicaid,which one are you commenting on?
jsmith
I am 65 years old. I retired at 60. As I told you in the article I receive only social security, a monthly annuity payment and a pension. I do not pay much money in taxes. Naturally the more money you have the more you pay in taxes. In reference to medicare and medicaid, you receive no benefits because you live abroad. The only government benefit you can receive is social security. In Malaysia you do not pay taxes on money received from the US. However, you must pay US taxes on money you may earn in Malaysia, or any other country for that matter. The US is the only country that does tax you on income earned while living outside the US.
Hi Mr Sovie,
We have been an expat family for the last 6 years Visiting 11 Countries so far and living in 4 countries abroad. We love Malaysia and I am thinking of making the move there permanent I'm ready to settle down. I am retired from the US Army and make about 3K a month (but I will not qualify for a retirement program as I am only 31-I was hurt on deployment to Iraq and am now 100% disabled). Was wondering if you could give me some advice on where to start as far as looking for rentals etc. I have been looking online but it is not as easy as the other locations we were considering. I also have 2 school age children who are home-schooled right now and one last bun in the oven..Thank you and I look forward to hearing from you soon.
Hi Expat Mommie.
You should have no problem living on that amount, as long as you don't want to live in luxury. I know couples who live quite well on a lot less. Most expats now rent instead of buying since the real estate prices have risen to quite high levels. If you email me at ssovie@gmail.com I can put you in touch with a couple of good realtors. For a very nice apartment in a high end condo you can expect to pay $700 to 800USD, which would include a gym, swimming pool etc. It is nice that you are home schooling, as the local schools are not that good and recently they stopped teaching math and science, as well as other subject, in English. There are international schools, but most are based on the British system, which still confuses me. They teach to memorize, not understand. Here in Penang, there is an American international school,which is Christian based. I knew a few people who home schooled so that their children could return to the US for higher education. Outside of Penang, I am not familiar with the schools, but you can Google them. I hope this helps.
Mr Sovie,
Thank you so much for your reply I have already emailed you!!
I've lived all over SE Asia and love Malaysia. I am searching for a MM2H agent. Do you have any recommendations? Thank you.
Hi db,
Here is a link to a very good agent. Tell them I sent you.
http://www.penangmyhome.com/
Hi Mr. Sovie,
I am 63 years old and I have a small motel business in SC, USA.
I like fishing, planting and I need a good medical facility near by.
Where I should take to live for retirement?
I am a Korean American...
Thanks...