by - Andrew Taylor, 70, left the US a decade ago to retire in Malaysia.
- He now lives in a two-bedroom apartment in Kuala Lumpur, the capital, which costs about $620 a month.
- “I probably wouldn’t be retired if I was still in the U.S.,” Taylor said.
At the age of 60, Andrew Taylor retired and left the US to move to Malaysia.
Taylor, who used to do administrative work, started thinking about retirement in his mid-50s. However, the high cost of living in the US made it feel like a pipe dream.
“I realized I probably wouldn’t be able to stay in the United States, or I would have to work until I was 80,” Taylor, now 70, told Business Insider.
Andrew Taylor moved to Malaysia from the US ten years ago. Andrew Taylor.
He started considering retiring abroad, and he did so through his then partner – who lived in Penang, a state in northwestern Malaysia. – that he first heard about the Malaysia My Second Home, or MM2H, visa program. The MM2H program was introduced by the government in 2002 to attract foreigners to retire and live in Malaysia.
The conditions for the visa have been tightened over the years.
Based on the most recent rule changes announced in 2024, there are now three different categories: platinum, gold and silver. Depending on the visa category they apply for, applicants must have a minimum bank deposit of between $150,000 and $1 million and also purchase property in Malaysia. The validity of the visa varies from 5 years to 20 years. Because Taylor was granted a visa under an earlier version of the visa rules, he did not have to purchase property in Malaysia.
After having been there several times, the idea of living in Malaysia appealed to him. He said he saw the visa program as something that could help him retire much earlier.
He applied in late 2014 and was approved a few months later. In 2015, Andrew packed his bags and moved from Washington, DC – where he had lived for forty years – to start the next chapter of his life.
Creating a dream apartment in the city
It has been ten years since Taylor arrived in Malaysia. He spent seven years in Penang before moving to Kuala Lumpur, the capital, three years ago.
He spent seven years in Penang before moving to Kuala Lumpur, the capital, three years ago. Andrew Taylor.
He has been living in his current rental home – a two-bedroom apartment – for about five months.
Taylor said his previous unit had two floors and he had to climb 20 steps to reach the bedroom. “I’m 70 and the stairs annoy me now, so I want everything to be on one floor,” he said.
Taylor says it took him just one weekend to find his apartment, which was about two miles outside the city center. The view of the city immediately caught his attention.
“I’m on the 22nd floor and I can see the Twin Towers. I can see all the big towers in KL, and it’s just a beautiful view. I think if I’m going to be in KL, that’s what I wanted,” said Taylor.
The view from the windows of his apartment immediately caught his attention. Andrew Taylor.
His rent costs 2,800 Malaysian ringgit, or $620, per month. This concerns a two-year rental contract with an option for a third year. Unlike his previous apartments, this time he opted for an unfurnished apartment.
“I really never liked the furniture in the apartments I rented,” he said, adding that he had always been interested in interior design. Most of his furniture comes from the region.
“It’s a little eclectic,” he said, describing his apartment. “I have oriental rugs and things like that, but with modern furniture.”
His apartment building is part of a five-building apartment complex that offers amenities such as a pool and a gym.
Rent costs 2,800 Malaysian ringgit, or about $620, per month. Andrew Taylor.
This is Taylor’s fifth apartment in Malaysia, and he says he plans to continue renting and riding around town on his Vespa for the foreseeable future.
The lessons he learned along the way contributed to his decision. The first place he moved to after arriving in Malaysia was on the 35th floor of a building in Penang.
“The landlord said, ‘Oh, they’ll never build for it.’ Well, they built right in front of it,” he said. “When you buy a place, it’s just harder to move on.”
The apartment has two bedrooms. Andrew Taylor.
Americans retire abroad
Taylor is not alone in his decision to retire abroad.
Analyzes from the past year have estimated that one person should earn $96,000 per year live comfortably in many major American cities. It’s no surprise that more and more Americans are priced outside the US.
There’s also a retirement crisis raging across the country, with more and more people over 65 still punching the clock because they can’t afford to retire.
An AARP survey of 8,368 people conducted in January 2024 found that 1 in 5 Americans age 50 and older reported having no retirement savings. More than half of them also said they don’t have enough money to stay afloat in retirement.
It’s a sentiment Taylor shares. “I probably wouldn’t be retired if I was still in the U.S.,” he said.
The swimming pool at Taylor’s apartment in Kuala Lumpur. Andrew Taylor.
The MM2H visa, on the other hand, has made Malaysia an attractive destination for expats.
As of January 2024, there were 56,066 active MM2H pass holders in the country, Malaysian Minister of Tourism, Arts and Culture Tiong King Sin said during a parliamentary session, according to local newspaper The Star. Chinese nationals make up about 44% of pass holders, followed by those from South Korea and Japan. There were 1,340 pass holders from the US. The ministry did not respond to a request for comment from BI.
‘Quite similar’ lifestyles in both countries
Although Taylor’s lifestyle in Malaysia is “fairly similar” to that in the United States, the lower cost of living here means his money can go further each month.
“I would say I used to try to keep my budget at $2,000. Now it’s a little more than that. I’d say I’m living on $2,500 now,” Taylor said, adding that he doesn’t think he could do it to live. the same amount back in the US.
He has basic health insurance that costs 340 Malaysian ringgit monthly.
“There are other, much better policies, but I chose the cheap option,” Taylor said. He says it only covers hospitalization and associated costs.
He is also satisfied with the healthcare facilities in Malaysia.
“And you don’t have to wait a long time for an appointment or wait a long time for your appointment,” he added.
Aside from the cost of living, Taylor says he also feels safer in Malaysia.
“I’ve never felt safer anywhere. Where I lived in my last place outside of D.C., I would sometimes hear gunshots from outside my window, and that’s just so strange here. That doesn’t exist,” he said. “I’ve never had an uncomfortable feeling when I’m out, even when I’m walking around alone.”
These days, Taylor spends his time filming YouTube videos about what it’s like to live in Malaysia.
However, he says such a drastic step may not be for everyone – especially those who have children, grandchildren or even elderly parents. It only worked for him because he had loose family ties.
Looking back, Taylor says he has learned not to be afraid to live outside his comfort zone.
“My family thought I would last about six months, and then I would come back. Ten years later, and I’m still here, and I have no intention of ever going back to the U.S.,” he said.
Have you recently moved to a new country and found your dream home? If you have a story to share, please contact this reporter at agoh@businessinsider.com.