UK man retired at 50 & now lives in Penang, where the only expensive thing is alcohol

SINGAPORE: Many of us dream of getting out of the rat race and retiring while we’re still young enough to enjoy life. A British man and his wife were actually able to do this, retiring in their early 50s and moving to Penang, Malaysia.

The story of James Hirst and his wife, Laura, was told earlier this week in The Telegraph, in a report that underlined that more and more of their countrymen are choosing to go this route. It quoted the British High Commission in Kuala Lumpur as saying that there are 16,000 British expats estimated to live in Malaysia.

One big reason why is the cost of living in the United Kingdom. In comparison, the piece quotes Mr Hirst as saying that the only thing expensive for him in Penang is alcohol. The couple had gone to Malaysia twice before, and living there made sense, since it was less expensive than any other place in Europe that they had visited.

Another reason is that the Malaysia My Second Home (MM2H) visa has made it relatively easy for foreigners to settle in the country.

Mr and Mrs Hirst sold their home in the UK and now live in a three-room flat in Penang. They made the move in early 2020, just before the COVID-19 pandemic struck. This meant they could not see their friends and relatives for two years, but they had fortunately got things in order before major shutdowns were imposed.

The couple, who have no children, have always loved to travel and had looked into options for early retirement years ago. Today, they not only go home every eight months, The Telegraph reported, but also entertain visits from relatives regularly.

The Hirsts have also been smart with their money, having invested the funds from the sale of their home into fixed deposits in Malaysian bank bonds. In addition, they also have their pension to live on.

They now enjoy a life of cultural variety, inexpensive food, friendships within the expat community, cheaper rental rates, a variety of sports such as golf and squash for Mr Hirst and dragon boating for Mrs Hirst, and hiking.

“Petrol is subsidised, so you can get a tank for about £10 (S$17.36). The only thing that is expensive is alcohol. Malaysia is a Muslim country, so it is taxed quite heavily — wines cost about three times as much as in the UK,” The Telegraph quotes Mr Hirst as saying. /TISG

Read also: American man who retires in Malaysia at age 60 says he would have worked till he was 80 years old if he was still in the US