I found a couple who retired at 40 in Penang | Tips on visa and property @corporatebreakoutcouple
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- čas přidán 25. 06. 2024
- Today we'd learn about retiring in Penang from Fran and John who are based there. We'd talk about visa questions, standard of living and also Penang property tips!
0:00 Introduction
1:17 Singaporeans retiring in Penang
3:15 Penang vs KL
4:57 Standard of living in Penang
6:05 Buying malaysian car
8:04 Buy or rent property
9:55 Medical and insurance
12:20 Property for foreign retirees
14:50 Visa questions
18:10 Digital nomad visa
#retirement #retire #retireinmalaysia #financialfreedom
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Agreed on the digital nomad hack, there is a bunch of SCs work in ICT field are renting out their HDB, stay in a luxury rental condo at JB/KL. Since there are able to WFA. Enjoy dual SGD streams and spend in MYR.
Very practical and useful tips about retiring in Penang. Thanks 👍
:)
This is an interesting interview with fresh perspectives from a couple already on the ground, great job!
Thanks for the high praise chris
Hey Chris, we would love to connect with you some day. ❤
Pls note that they are not really retired. They spend only a section of time in penang, so the headline or subject of this interview a bit of a misnomer. Not sour grape but alerting listeners that info/advice must be taken w pinch of salt.
@@kongakau5058 the rest of the time are spent travelling. Still retired though
Thanks for the sharing, Malaysia is indeed so much cheaper than SG, it's like complete different worlds, majority of Singaporeans who have worked for few decades with CPF saved up can easily retire in Malaysia.
No probs. Share with someone who should hear too :)
Welcome to stay in Penang. Your comments are positive but truths in reality. Hope you have good life here. Best wishes guys.
Thank you so much ❤
Thankful for shared great ideas of living, so can retirement without much to worry in life
No probs. Share with a friend who could hear the sharing too
Practical tips 👍 been watching their videos random basis and thot such interview format is nice. Ghib Ojisan also did an interview many months back with an older Singaporean couple living in Penang … Corporate Breakout much younger 😊
Yes I saw that interview too as part of the homework in prep for thai
Great video ....penang is a great choice !
very interesting video !! How about Bali, China, Taiwan etc. Would be great if you can find people to interview. Thailand as mentioned by one of your readers is interesting too. ...............and would be great if you can include a segment on language issue. Thanks Josh
Stay tuned :)
Penang is food heaven.. Happy you both enjoying yourselves
Thailand & Indonesia are what my peers are talking about for retirement. Would be awesome if you have contents from these destinations too.
Noted. I’d keep a look out 👍
We will be heading to Thailand to do a retirement series in the very near future. Stay tuned!
@@JOSHTANLIVE @THEJOSHTANSHOW Perhaps, an overview of the mkt zeroing (based on research) on good areas, too. This will provide a different type of advisory that brands you an expert/semi-expert in that area.
It’s like interviewing a singaporean and their partner from eg aussie/ Europe who works in Aussie m/Europe but retire in sg. Zz
Gleneagles charges S$ prices .
In singapore with super high grants and heavy subsidy is hundred times more expensive than malaysia with singapore heavy geants n subsidies
Awesome sharing! Can you please share where can I get information on special needs (autism) home, facilities, programs in Penang? Thanks!
Thank you for the high praise.
That's quite specialised a topic, anyone has insights?
Its not slightly lower than singapore , its a LOT LOT lower than singapore
Me too dislike kl is similar to singapore but quite difficult to apply to get approved for pr .
Hi Josh, I enjoyed this interview.
Just to share a thought, Langkawi is not ideal for a retiree especially for older folks who need healthcare. Healthcare facilities are sorely lacking in Langkawi........
Thanks thanks, ya good point raised
Yes that's correct. Langkawi is a great holiday destination but a bit rural to live
Hi Josh, any opinions on Bali? Thanks!
Ah haven’t been there in a long while. I think Jean voronkova has some sharing on it. Let’s see if I can link up w her 🙂
Thank you so much🙂
How abt the crime rates?
Working as a digital nomad as a hack.... what if that is not an option? Any other ways to get a long stay visa? Of course...... the only other retirement option i can think of would be to become a "retiree nomad". Chop passport every month and every 3 to 4 mths, head to another regional country to do the same. Essentially, staying a few mths each year in say phuket, bali, Penang, Batam and so forth.
The transport cost could step up but ya feasible
I’m a Penangite working in Singapore, single and still can’t decide if I shall convert citizenship (mainly to get a hdb to stabilise crazy increased rents) as I really love to retire in Penang in years to come
PR status currently now?
Ya tough choice
From a pure cost-benefit perspective, I would imagine the better option is to remain as a PR esp since you are single. You retain the flexibility of earning in SGD in your work capable years, and retiring and spend that hard earned money in MYR.
I would only imagine there being value for you to convert if you had children, where you get to enjoy benefits for which there is clearer differentiation between PRs and Citizens e.g. education (where PRs are prioritised less for school entry and pay more for school fees).
Of course, the decision might be different if you had other considerations beyond just cost-benefit.
I m Penangnite . Came to Singapore 1986. Married Singaporean and divorced after 30 years of marriage . Luckily I kept my citizenship . Not easy to get long term visa in Malaysia . Earn in Singapore and retire in lower cost countries like in Penang . As long as u don’t buy a car in Singapore and spend on expensive show off items and food , u can save money . And …. Invest and make your money work for u . Be wise
Thank you for the sharings!
My point of considerations covers as follows:
Scenario where I hold on to my malaysia citizenship:
1. Y-o-y increase in Rents (in my early 30s meaning I still have at least 10-15 years to go before getting to financial independent, if rental market continue to be rocking high like 50% increase in rental this year, my annual salary adjustments will all be used up just like this) also quality of rented houses are not very conducive
2. Cpf life (very good tools to tap on for retirement and if one day I stop working in sg, my PR may not get renew and won’t be able to benefit from this)
Scenario where I convert:
1. Visa approval in malaysia in future will be very difficult once we give up, could only try my chances through mm2h or other forms of visa
2. Property that I currently owned in malaysia will not be easy to realised
Medical wise I will say it’s almost similar as Penang also has very good medical centres while sg has Medisave!
Hoping for sg gov to make changes in housing policy and allows single pr to own a hdb too (we have been contributing similar tax rates too! 😂)
Fren.
... U wanna give ur citizenship for a flat rented from gahmen? Do wat really suits u.
I dunno ur age. I worked in Spore all my life.
The luckiest thing now is I can retire in Msia.
I'm a proud Penangite. I can hike the Tiger hill just beside my condo and where can find hawker food for less than RM5 and go to Balik Pulau for durian?
Nice :)
Would like to hear about retiring/buying property in JB
Got chance will find someone to discuss on it =)
@@JOSHTANLIVE am msian spore pr, interested in section of jb ppty not for sporeans. Criteria - safety, security, community, facility, good value amongst others. Perhaps, an overview of the mkt zeroing on good areas. Ok w working w others to explore, mostly because easier to work/research/check out w kakis.
Been to Penang many times. I prefer the food in Singapore. The only thing I love there is the giant durian which you cannot find elsewhere
Best is still SG home. At least we can settle down permanently.
Haha agree, National day fever
The reason the MM2H was revised to a higher amount was because, the South Asians ie: Bangladeshi, India Nationals, Pakistani and Nepalese could easily meet the earlier requirement when they liquidate their business and properties in their home country and this outcome of influx of South Asians in the MM2H foreseeably would create an imbalance in the population dynamics .
Hence the increase of the income requirement of the MM2H programme. FYI 😊
interesting point
Penang people are
More friendly is good
For retiremen
I tell u the truth about Penang. Penang lang Siang Tolan Spore lang. Don’t expect anyone from there to help you if your car broke down. Once my SG car battery drained due heavy raining. After the rain stop, I approached almost 15 Penang vehicle to borrow their car to jump start my car. But the moment they saw SG plate car they accelerated their car. No one will help u. In the end, I called a mechanic on-site & gotten slaughter. For food wise, I think the younger generation don’t know whether what is good food as long as there is belancan chilli & black soy sauce, wonder why their Cantonese Wanton mee also in black color soy sauce. I think if it compare to KL or Ipoh hawker food they’re not on par…I would say just can eat lah if u are hungry. Even canton restaurant & dim sum also much differ from KL,Ipoh & SG. Sorry, the only hawker dish that is distinctive & nice is Penang Char Kway Teow. This one dish I have to be honest is nice but not to the extend of craving it.
I'm Hongkonger planning to retire in M'sia and Penang is definitely one of the several considering states, many thanks for your 1st handed comments which are absolutely useful for innocent me about the place (another post comment Penang's insufficient medical backup when incident(s) appear), any clues for a state(s) is/are more retirees friendly?
m turning 60yo, while still reasonably fit (fingers crossed) as a gym goer, outskirt area will be desirable so as to gain the peace while the town center still reachable when needed
Its S$ 140K coe
I heard MM2H now is not easy to apply. Has the new ruling kicks in? 1 million rinngit to be deposit to bank account in order to grant MM2H, is it true?
ya its RM1m now. Fran and John, any new insights?
Interesting concept but retiring this way is rather tiring, i think just stay put at homeland and spend reasonably and comfortably.
Just proposing alternatives :)
I’d like an adventure someday and stay for an extended period
Is penang over crowded like singapore ?
Feels ok when I visited. kL on the other hand is jammed
Regarding digital nomad visas in Malaysia, will banks there allow foreigners to open accounts using this visa? If not, how can foreigners like U.S. citizens open a bank account in Malaysia?
BTW, thank you Josh for keep up the videos and finding knowledgeable and well prepared guests with real-world experiences.
Thank you for the high praise. The question I’m also curious on the answer
Most Malaysian banks do not allow foreigners on long term visit pass and the digital nomad pass to open bank accounts. You may want to consider applying for MM2H
Most banks won't but a few digital nomad visa holders have recently found banks that have allowed them to open accounts
One half need to be Malaysian, so that he/ she be there with you. So that, he/she know the "Malaysia Way" to fully enjoy.
true true =)
And also know the best spots for makan! Haha! ❤
Penang got a lot of good food? There are more good food in Melaka and Ipoh.
What you say Fran? =P
She use her malaysia citizen to buy local price house. Please interview couple who are both Singaporean that retired overseas
Be thankful for the sharing. Don’t demand
@@JOSHTANLIVE😊
@@dadaebiko8332 Hi, thankful if you are ok to share your story. Do email to joshtantap@gmail.com 😊
Maximum 29 days u have to leave . I left 30 days and was banned from entering which is more than 30 days .
Oh? Anyone else have same experience?
Yes please leave on the 30 th day, from the FIRST day you are in Malaysia.
Are property freehold in penang .
Most yes
How can penang be more green than spore?
LOL. Penang hill taller
@@JOSHTANLIVE 😂 ....that's true, always wondered why bukit timah when bt a molehill (in terms of height)
How about safety in Penang..?
I feel KL can be unsafe. Penang is ok. Any other opinions?
Penang feels safe. We noticed that the moment we moved back to Penang in 2022. We spoke to many friends and family and they shared that Penang has been ramping up on their safety measures and generally the whole island has lower crime rate. Of course, low crime doesn't mean no crime.
@@JOSHTANLIVE situation in msia including penang is variable. If your guest a penangite, she would be able to confirm the situation that (1) penang before current ph gov has security issues, (2) it is reported that there is demographic changes in penang leading to concerns about oncoming state election and future.
Retired at 40. What are they going to do with the remaining 40-60 years of their life?
"retire" is just a term. Maybe define "financially free" - pursue a new endeavour that you'd like?
Enjoy life, doing whatever we want whenever we want, wherever we want. ❤😊
What do you mean by "Unfortunately Penang is still under Malaysia"??
chill
@@JOSHTANLIVE every country has all the rights to change its rules and fees. Malaysia has been very generous for not adjusting its policies for a long time. Just be fair to Malaysia. Don’t become suckers by taking advantage of malaysia’s benefits offered to its citizens. Anyone think it’s not right, can choose not to come to malaysia
Harsh response fm some people
I'm a Penangite working in Singapore. I think the picture is not as rosy as you painted. 1. Visa - if you are a Singaporean single who doesn't qualify for MM2H and spousal visa, it will be hard to retire in Penang. Every 29 or 30th day you have to leave Malaysia and re-enter. And i know there have been many cases where Malaysian Immigration are unwilling to give you the full 30days visa because you have entered Malaysia on this visa too frequently. They will reduce it to less than 30days. 2. Living cost is not as cheap as you think. The main problem is the weak MYR. Only goods made in Malaysia will remain cheap. THe rest, still need to use the weak MYR to convert. Ie. Uniqlo, starbucks, skincare and cosmetics, US or AU supplements - almost equivalent to SGD. 3. Traffic jam - Lol, this couple is quite modest about it. Try driving during morning and evening peak hours. Stressful. Try finding a car park in Gurney Plaza or Queensbay Mall for 45mins during festive weekends. You would find Singapore MRT and Singapore affordable taxis / grabcar heaven sent. You should compare the cost and comfort to get to one place to another and not the car price. In pg, we buy cars because we are forced to. Public transport not so efficient. Then you will find Singapore is still much cheaper.
I agreed om MYR depreciation part. Also you don't need a car in SG - the reason for high COE quota is to discourage car ownership. SG MRT and bus is efficient, fast, clean and reliable.
Josh, pls go… lol… Was there many time and friend staying there. Many down side not shared.🤦🏻♂️Cannot compare to Singapore earning power la… traffic there is heavy… Singapore still best
Earning power of coz sg. Penang as a retirement place...
What concerned you when you lived there?
Possible retirement ages (IMO)
married with kids in SG - 55+/-2
married with no kids in SG - 45+/-2
married with no kids + geographic arbitrage out of SG - 40+/-2
single in SG - 50+/-2
Single + geographic arbitrage out of SG - 45+/-2
Oh How come married is less than single for geographic arbitrage?
@@JOSHTANLIVE 2 persons cam share their savings and spend less than 2 x single person eg 2 persons only need 1 bedroom just like a single person does.
@@ocswoodlands youve a point
What would the folks do there after 1 year eating cheap, walking and laughing if they retire at 55? And the following 30 years?
I’d advocate for semi-retirement. Find a new part time, relaxing form of work or do volunteer 👌🏻
@@JOSHTANLIVE that makes sense. Those young adults talking abt retirement at 40s, it is just inexperienced. When they are 55, they know why they had wished to retire at 65yrso.
It's never abt money, or eat to sleep. It's abt living...even if u have a loving spouse.
@@leanne2330 agree!
@@leanne2330we chose to retire at 40 to do exactly that! To live more, laugh more, love more. We have the time freedom to live the life we want to live. ❤
Get a Sarawak mm2h, lower bars to meet
Yes i know. But Penang seems more developed?
Sarawak MM2H allows you to stay anywhere in Malaysia but min 30 days stay in Sarawak per annum. But Sarawak may be changing the criteria soon. Heard that Sabah may have their own MM2H program soon but that’s still up in the air.
@@raymondlau560wow when ?
What is their CZcams link?
corporatebreakoutcouple =)
youtube.com/@corporatebreakoutcouple
Do we want to follow?
you decide. Sharing perspectives
@@JOSHTANLIVE - Certainly. Thanks for the perspectives.
the couple no kid~? those with kid(s) would be challenging to retire elsewhere unless they are fully independent by themselves~
no kids. Yes with kids, priority is education for them over early retirement
Pls note that they are not really retired. They spend only a section of time in penang, so the headline or subject of this interview a bit of a misnomer. Not sour grape but alerting listeners that info/advice must be taken w pinch of salt.
I guess they are pursuing digital based income from youtube at this phase leaving corporate. Not seating by the beach.
Beyond that Fran and John can share more =)
We spend the rest of our time travelling back and forth Singapore and travelling extensively to other countries. The rest of our time, we spend it with our loved ones. CZcams is something that we are building to agree) share our experiences and teach people that there are other ways to live other than the rat race. Cheers.
Host said "Standard of living is slightly lower"..you must be joking
Precisely.....but
40 is way too young to retire. I guess its a more a leisurely working life.
Oh yes. Do part time or start something different =)
No kids. Can retire any time and anywhere..
Equation is simpler agree
Will be easy with children though
Ringgit will keep dropping, don’t invest in property there
Agree
@@JOSHTANLIVE let’s meet up for coffee one day
Who retires at 40..its weird
At young age, I guess its more of semi-retirement. They are engaged in youtube alot in this period =)
For the healthcare part, if there is an emergency like heart attack that requires major surgery, good luck with the medical bills 😂
There are shortcomings of course. A solution will be to insure while there?
@THEJOSHTANSHOW that would be those global health insurance bills that assume any Penang clinics offer.
Retired at 40 ?? The only reason is TYNK - two income with no children consideration.
DINK dual income no kids.
I understand your pov
Penang island traffic is terrible. There is nothing much to do in Penang other than eat and sleep. Can’t cycle round island nor able to run to other neighbourhood as there is no joining pedestrian walkways ; i will grow fat and lazy staying in Penang
Oops haha
Then Mallorca, Spain will be it. Can cycle and may even meet your TdF heroes. Highly likely to obtain the cyclist climber bod.
@@jinngeechia9715 ooh Chris Froome type body
@@JOSHTANLIVE I grew up in Penang and still go back occasionally but will never visit more than 1 week. It’s nice place for old retirees (eg bald ang mohs in Batu Feringgi). I love Singapore and the amenities we have around each neighbourhood; it’s a more healthy and lively country to live in
@@simcn73 Now is Jonas Vingegaard or Tadej Pogacar already. Strong legs and heart with noodles for arms. 😄
Singapore is better. Don't come to Malaysia.
Singaporeans always said Malaysia not reach the Singapore standard!
Cheaper standard of living 🙏
Pap loves non stop tax profiteering .