retiring in portugal

Last activity 15 October 2012 by pigletinportugal

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palmtree22Active member13 October 2012 22:39:33

I currently live in the us and am looking for a good place to retire overseas.
I am a single male, 62 years old with a pension and am old enough to begin collecting social security although I'm putting that off so it will grow a little.

I have traveled a lot to Mexico and parts of Central America, and, although my experiences have been good, I'm not sure if that area would be a good fit for me.

I have been checking out countries in Europe and Portugal sounds like a great place to live based on my research, great weather, low crime, decent cost of living and friendly people. Portugal is definitely the next trip I will take, but I do have one important question>

The cost of living is my main concern. I know the us dollar is worth less in Europe. I would have around $2500 a month to spend on everything. I am also concerned about the future economic outlook for Europe. Can anybody give me some info. on this situation? Would $2500 still be considered enough to live comfortably for a single person?

Thanks in advance for any info. you are willing to share.

vtorresActive member14 October 2012 00:02:50

hi,

considering you are a single person, the referred value can give you a lfe in some confort. I mean, house, car , normal expenses and money for the restaurants, visit places, etc.

br

vitor

juliedawnfoxNew member15 October 2012 09:17:15

Hi Palmtree,

Even though the economic situation is worsening in Portugal for people who are working or unemployed, in your situation, you should be able to live comfortably on §2,500, depending on your lifestyle, of course.

The cost of living continues to rise but unless you have very expensive tastes, you should have plenty to spare to cover any further increases.

Petrol is ridiculously expensive, so bear that in mind when you choose a location. Cars are also overpriced due to inflated taxes so be prepared to fork out a lot more than you might expect to pay in order to get a decent one.

In terms of investment - I'm definitely no expert on the subject but it seems prudent to hedge your bets and not bring all of your money with you into Europe.

Good luck!

pigletinportugalActive member15 October 2012 20:05:38

Hi palmtree22

Hey that's about 1900 a month! Providing you are not extravagant and do not want to play golf every day that should be plenty. I know people who survive on 800 a month! and many Portuguese people even less

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