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Foodie Retirement Haven: George Town, Malaysia

By WTOP Staff

George Town, Malaysia, is not only one of Asia’s best options for retirement living, but also a top choice worldwide. Though the city has grown a great deal over the years, it has managed to retain its British colonial flavor. At the same time, it has developed to be hugely culturally diverse. Wandering around the historic downtown, it’s easy to imagine yourself in another era and even another place. There are neighborhoods reminiscent of China, India, an old Malay village and everywhere you find architecture and infrastructure harkening back to England’s colonial heyday.

Impressive British-colonial buildings serve the same functions they did more than a century ago. Some are banks, churches and residential mansions. Many of the dilapidated Chinese shop houses have been scrubbed, painted and renovated into attractive hotels, community centers, cafes, galleries and private homes. The early Indian traders have left their legacy, as well, with a vibrant Little India with ornate Hindu and Sikh temples and a commercial district where you can shop for yard goods, clothing, incense, fruits, spices, herbal teas and natural remedies. Other parts of the city reflect the Malay culture, with mosques and more shopping. Adding to the ambiance are dozens of murals and whimsical wrought-iron sculptures depicting life in the early days of the city.

Historic George Town, the capital of the state of Penang, got its start in the 18th century, when the British established a colonial outpost to control trade in the Straits of Malacca and to exploit a thriving opium market. Commerce prospered, and by the 19 th century George Town had a busy financial district, an active seaport and scores of wholesale shops. Immigrants flooded the town hoping to improve their fortunes.

Today you find at least a dozen museums in George Town, along with venues for indulging in high culture, including the Penang Philharmonic, the ProArt Chinese Orchestra, the Performing Arts Center and the Actors Studio at Straits Quay. Free concerts are offered in various locations in George Town and across Penang Island during the summer months. For lovers of the outdoors there are jungle parks, secluded beaches and exotic wildlife. Amusement parks provide family fun. Expat clubs meet regularly to serve the large foreign community.

Malaysia is an especially appealing retirement choice for foodies, and nowhere more so than in George Town. There’s no need to cook with so many eateries serving delicious and inexpensive gourmet fare. When the sun goes down, cooking smells permeate the air, and tables fill with enthusiastic diners. Few places in the world offer such diverse and varied cuisine prepared from fresh ingredients and available for such bargain prices, explaining why George Town is consistently recognized as one of the world’s top dining out destinations.

While you’ll find many fine restaurants in George Town, the real food scene is in the little cafes, open air restaurants and hawker stalls. This is where chefs prepare regional Chinese, Cantonese, Hokkien, Hakka, Malay, Indonesian, Indian, Nyonya, Teochew and Thai cuisines, all manner of seafood, as well as Western-style dishes, using recipes that have been perfected over generations. Prices are something to rave about, too. Unless you’re eating in an upscale restaurant, you can eat well for about $3 per person.

Retirees interested in settling in for the long term can take advantage of this country’s Malaysia My Second Home program, which comes with a host of benefits, including a visa that is valid for up to 10 years, duty-free importation of personal belongings, a duty-free allowance to import or purchase an automobile and a reduction in the required minimum purchase price of a home in the state of Penang.

If you don’t hold MM2H visa status, you are restricted to buying a home or condominium valued at 1 million ringgit (currently about $307,000) or more. MM2H visa holders are permitted to buy property on Penang Island valued at half that amount. Unlike other countries in this region, Malaysia allows foreigners to purchase and hold clear title to land, houses and condominiums.

It is common for foreigners to move here, rent for a year or two, then purchase homes of their own. These expats and foreign retirees have formed sizable communities living in luxury condos with ocean views or quiet, residential homes in the suburbs north of George Town, enjoying each other’s company and also integrating easily into the local community. Malays are exceptionally friendly people, and language is not a barrier as everyone speaks English.

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group .

More from U.S. News

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How to Prepare for Retirement Overseas

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Foodie Retirement Haven: George Town, Malaysia originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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