A Beautiful City In Southeast Asia With One Of The Lowest Costs Of Living Has Some Of The Best Food In The World

Retirement is all about enjoying your life — and stretching your savings enough to do so for as long as possible. While there are certainly great places to retire in the U.S., increasingly Americans are looking abroad for retirement. Retiring in a different country can offer countless benefits including a lower cost of living, better access to healthcare, and cultural enrichment, just to name a few.

One destination, in particular, that is gaining attention, according to Business Insider, is Kuala Lumpur, the capital of Malaysia. The city is known for its towering skyscrapers, lush parks, major festivals, and multicultural environment that blends eastern traditions and cuisines with western ones. Perhaps most importantly, the Southeast Asian city has one of the lowest costs of living among global capitals, with very little lifestyle drawbacks. This can make it an ideal place for Americans looking to enjoy their golden years without breaking the bank or sacrificing their lifestyle.

For retirees looking to stretch their savings as much as possible, Kuala Lumpur can be a great choice. According to SmartAsset, the overall cost of living in Malaysia is 53.6% lower, with rent prices averaging 78.8% less, than in the U.S. This lower cost of living means that renting can be extremely affordable, even in the capital city. On average, a one-bedroom apartment in Kuala Lumpur can be found for $373 per month, and retirees can live comfortably on around $2,500 a month.

However, before making the move overseas it's important to understand the legal steps involved with retiring abroad. For example, in Malaysia retirees will need to apply for the Malaysia Second Home (MM2H) visa. This visa provides long-term residency and tax benefits to foreigners. However, there are several financial and medical requirements in order to qualify for the program. It may also be wise to consult with a financial advisor or tax professional before retiring abroad. These professionals can help you understand how the move may affect your Social Security benefits and taxes. A bit of pre-planning can help you avoid costly mistakes, such as non-U.S. citizens losing monthly benefits after living outside the U.S.

Beyond its affordable cost of living, Kuala Lumpur is also celebrated for its vibrant food culture. Local cuisine provides a mix of Malay, Chinese, and Indian flavors, which reflect the city's multicultural roots. For a few dollars, retirees and tourists can try savory foods like Mee Ayam, an egg noodle soup with chicken and warm broth, or Roti Canai, a crispy flatbread which is common street food. Overall, visiting local markets or hawker centers can satisfy your palate and budget.

If you're looking for more upscale options in Kuala Lumpur, it can still be done without spending much. According to Numbeo, a basic meal will cost around $5 and a three-course meal for two will run around $28. Common grocery items are also easy on the wallet, with a loaf of bread under a dollar and eggs costing about $2.19 per dozen. Between the low costs of living and exceptional food scene, Kuala Lumpur offers everything needed to enjoy retirement to the fullest.