Study: Malaysia Is The Safest Place In Asia To Retire For Less Than RM9,100 Per Month
According to the study, the average cost of living for individuals in Malaysia is RM4,850 per month.
By Wayne Garreth — 17 Jul 2023, 01:06 PM
GOBankingRates, a personal financial resource publication, just released their findings on the top safest places in Asia to retire for less than USD2,000 per month (approximately RM9,100)
Published on the website of NASDAQ, an American-based financial service corporation, a description of the study stated that many Americans are considering retirement in places beyond their own country.
"Retiring abroad is becoming increasingly popular, because many countries can offer expats a more affordable cost of living, with all the benefits of cultural enrichment that living abroad offers," stated a section of the study.
Elaborating on how they sought to attain a comprehensive list for study, GOBankingRates revealed that they pulled data from the United Nations Pacific-Asia Region Group and the gross domestic product (GDP) from WorldPopulationReview to find these specific locations.
Additionally, the study also attained figures from Numbeo and the Global Peace Index from the Institute of Economics and Peace Global Peace Index 2022 Report. A precursor score of 2.0 was stipulated to be the minimum global peace index set by the company for a country to qualify under the list.
According to the report, Malaysia has been listed as the safest place in Asia to retire for less than RM9,100 a month
Detailed in the study, it was stipulated that the average monthly cost of living in Malaysia is just USD1,066 (approximately RM4,850) per month.
"Malaysia takes the number one spot with a cost of living index that is 22.9, and a GDP of USD481.9 trillion (approximately RM2,192.6 trillion). With average monthly expenses at just over USD1,000 (approximately RM4,550), it's an excellent place for retirees to consider," continued the report.
Narrowly missing the top spot, Kuwait came in at number two with a average monthly cost of living at USD1,741 (approximately RM7,922), with Mongolia wrapping up the top three with an average of just USD940 (approximately RM4,277)
Here's a full rundown on all of the top 10 countries in the list, alongside their respective average monthly cost of living in each place:
1. Malaysia (USD1,066; RM4,850)
2. Kuwait (USD1,741; RM7,922)
3. Mongolia (USD940; RM4,277)
4. Vietnam (USD1,117; RM5,085)
5. Indonesia (USD940; RM4,277)
6. Jordan (USD1,331; RM6,056)
7. Cambodia (USD1,387; RM6,310)
8. Oman (USD1,513; RM6,884)
9. Cyprus (USD1,964; RM8,936)
10. Nepal (USD684; RM3,112)
The findings for all 10 countries also revealed that the Global Peace Index score for all nations were below 2.0, with the highest being in Nepal at 1.947.
What do you think about the findings of this study? Do you agree? Let us know!
Click here to read the full study.
