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Another warm and sunny locale, this Southeast Asian country is attracting many retirees. The low cost of living means your money goes much further here than in Canada, U.S. or in European countries. A three-course meal for two people, for example, could cost as little as $10.
How much would a couple need to retire in Penang?
Monthly average rent for 1-bedroom apartment: $424.72
Monthly utilities: $90.09
Monthly restaurant costs (2 people): $185.56
Monthly food and groceries costs (2 people): $313.06
Monthly car costs: $346.77
Monthly retirement income: $1,405.50
Source: Numbeo, Aug. 26, 2015 (excluding clothing and ‘other’ expenses)