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Check this website as it gives cost of living in many countries and cities around the world. 

Where do you want to stay? Peninsular or Borneo?

Did you have a look at Malaysia My Second Home (MM2H)? If not through MM2H I'm not sure how you're gonna get a long term visa since i suppose you're retired.

Yes.. you can leave pretty well here with yr pension.

if you have 500K, you can buy a house and automatically received M2H Visa. To make it more easy u require aother 50K to buy car for your transportation.

Then, RM 8500 is  enough. depend on your style of living.

If you bring your wife, of coz its effect.

Since you already 60 plus, I assume you want to live in well manner and enjoy your retirement & travel a lots. I advice you to find a place away from Kuala Lumpur (which the cost of Living is much more higher.) Go to Perak or Negeri ( where house & cost of living is relatively cheap). With 500K you can buy a Bungalow, with acre of space.
Your monthly expenses would be:-
1. Utility, Water & Electricity = Up to RM 500.00 (with aircond & other high end electric product). Can be reduce significantly if you use green product and of coz save earth mentality. My parent living in big house, with aircond, water heater, and all high end product only spend less than RM 100 per month.
2. House maintenance (Normally the neighbourhood will need some money for security guard, etc) = up to RM 300.00 monthly depend on the neighbourhood type/class.
3. Travelling - Petrol & Toll. = Depend on how you travel everyday = between RM500.00 to RM 1000.00 for normal one. If you travel extensively to enjoy malaysian beauty, put it as RM 2000.00 monthly.
4. Food - As for me and wife, we use around RM 1000 monthly for groceries. Not sure about you. to be safe, put it as RM 2000.00 monthly


Walla... thats budget for your monthly usage. you need to add up your shopping, golf membership, night life (if you wanna enjoy night life than u need to stay somewhere near with KL and the cost of living will shoot up.)

you can find out everything you need to know from the Government offices related to Grey haired scheme similar to Malaysia my 2nd home scheme

are you talking Malaysian Ringget per month to let you know you could live very well on the amount you are quoting