–>Penang Malaysia Cost of Living
–>Penang Malaysia Best Area to Stay, Best Tours, Cheapest Flights
–>Penang Malaysia Old Town Walking Tour
–>Penang Malaysia Street Art
–>Penang Malaysia Beach and Buddha Tour
–>Penang Malaysia Kek Lok Si Temple and Penang Hill Tour
–>Penang Malaysia Nightlife (Bar Hopping) Tour
–>Best Food and Experiences for Digital Nomads
–>Penang Facts and History
Best Retire Cheap in Paradise Locations in the World
This is my Retire Early on $1000 Month in Penang Malaysia information. My name is Dan and I am presently in lockdown during the coronavirus.
But I will keep sharing content I created traveling to 65 countries over the last 13 years. This is the content I created investigating the top places to retire early and cheap worldwide. I will show you pictures of Qiang Hui and I as I explain.
Penang Malaysia is definitely a great choice to retire early for cheap.
One of the biggest mistakes I made when I first started living internationally was to try to recreate my life in my home country. I kept going to restaurants serving my home country foods instead of learning about local foods. Food is one of the easiest ways to both save buckets of money and integrate yourself into a new world.
Let me teach you one of the best money-saving tricks I wish I knew when I started living internationally. Malaysia is a former British colony, so the locals typically speak some English. When you first arrive in a new country, ask a local, “What is your favorite Malaysian food?” Then ask, “What restaurant in town do you go when you want to eat this food?” Write both the name of the dish down and where they eat it most often. Then ask, “What are the top 5 dishes most Malaysians love to eat?” Write it down otherwise you won’t remember.
This one trick is likely to save you a few hundred dollars per month in almost any country in the world. Do you know why? Because foreign food restaurants (Italian, American, German, etc.) triple your food bills in most retire cheap countries including Malaysia.
You see, Expats flock to foreign food restaurants in Penang and easily might pay $8 per entree. But locals are only paying $1 to $3 per meal in neighborhood Malaysian restaurants, they call Mamma’s restaurants. Every neighborhood has many Momma’s to choose from.
Plus, if you search Youtube and learn how to make the favorite Malaysian foods, you will be able to find all of the ingredients in the local public markets for peanuts. But if you shop in the expensive expat grocery stores you will bust your budget wide open. Expat style grocery stores are where the food prices are easily twice as much.
Now you have a new hobby … learn where to eat for $2 per meal and how to cook the top 5 local dishes for $1 per meal. Plus, you will have a much richer experience.
Okay, let’s talk about why some people will be able to retire early on $XX Month in Penang Malaysia, and others will not.
When I first went to Penang back in 2016, it cost me $300 a month more to live there than it cost me on my last visit in 2019. With inflation, it should have cost me more. If you listen to me, hopefully, you’ll catch on and save money sooner than I did.
In my cost of living table for 2019 for Malaysia, I estimated that it would cost a single person about $916 per month to live in Malaysia for food, rent, and local transportation.
But that included rent at $22 per day for a furnished studio apartment we rented on Airbnb. But that is too high for someone with a lease. We could get a comfortable 1 bedroom apartment in Penang for about $250 to $350 per month on a one year lease. So that estimate is too high.
Plus, the table estimated 8 meals a month in tourist (expat) restaurants at about $8 USD per meal. It also included 48 meals in neighborhood restaurants at $3 per meal. That is also too high.
If you followed my advice about eating the top 5 favorite Malaysian foods, you would be saving money in the local Momma’s restaurants and cooking meals at home too.
We have included a link to our favorite Momma’s neighborhood restaurants so you can start enjoying delicious $2 meals on your first day in Penang.
None of these estimates include alcohol and that is not cheap in Malaysia. If you enjoy drinking I recommend you drink at this neighborhood dive bar ($1 USD Beers) when in Georgetown Penang.
We rode the local buses all around the Penang island. They cost about
So if you add all that up a single person that is cheap like me should be able to retire early on $1000 a Month in Penang Malaysia, at least with respect to the big three, food, rent, and local transportation.
The links at the top of the page will take you to all the other information about Penang. Thanks for stopping by Vagabond Buddha.