Something Terrible Is Happening, The SECRET To Retire... Madeira Portugal

[@LinkDreams2Vision]

We did the same, sold everything and moved to Sicily. Paid cash for everything, debt free and live comfortably. Created a second income stream. I will still work occasionally as a remote worker in IT but only when I want to and not because I have to. Life is what you make of it so make the most of the time you have.

[@ItllBeFun]

Olá! Exactly. Thank you for sharing.

[@vicpso1]

I love these peaceful, romantic Portuguese Atlantic islands!

[@ItllBeFun]

They are truly fantastic!

[@tamaramadelin4831]

Best advice...live below your means and that doesn't mean missing out on the good life! I've always felt that decluttering your home/things declutters your mind!! True freedom is not chasing your bills and your things...Found freedom here in Portugal!

[@ItllBeFun]

Congrats! Thank you for sharing.

[@ItllBeFun]

*Bom dia!* Work till You die! Walmart Greeters was not our idea of retirement. We will show you how to create a new re-imagined retirement. Our *It'll Be Fun Moving abroad Program* is available at www.itllbefunretirement.com/movingabroad-1 Join the *It'll Be Fun online meet-up crew* at www.patreon.com/itllbefun

[@jeffzaucha3834]

Great video as always a good reminder that there is a way to just make a plan and take action. Of course the beauty of our wonderful island in the back ground. Thanks for the great video.

[@ItllBeFun]

Olá Jeff, Thanks for watching and sharing.

[@almarcano6964]

When are kids graduated from college, I advised them if a job interviewer ask you at the end if you have any questions, ask if company will match or put a percentage into your 401k investment. I also advised them that 65 will sneak up on you, so be prepared! Obrigado once again with your extremely important life advice! Adeus.

[@ItllBeFun]

Great advice! Nice to hear from you.

[@John_McFadden]

Great advice, Alan! It's never too early to imagine, or too late to realize, your perfect retirement. Cheers!

[@ItllBeFun]

Olá John, We miss you guys!!!!

[@chrismedeiros3201]

Very solid advice given in this video. Taking control of one's spending, setting up a retirement plan and working it will pay off in the end. And Madeira is a fantastic place check out as a retirement home!

[@ItllBeFun]

Bom dia Guys, We hope all is going well for you these days.

[@Servant_of_Christ]

I'm 53 and I'm retired since 13 years. I bought a classic Swedish sailboat, 27 ft and I will move to mainland Portugal. It is easy for me as a Swede because the Schengen deal. I probably will visit Madeira and Azores to try out the fishing. 🎣⛵

[@ItllBeFun]

Sounds like life is good!

[@fernandovieira8479]

Portuguese here, just wanna validate you choosing Madeira, been there a week for vacations and for sure is a good place for what your family intended, I would also be happy there as a retiree or even where I am and been all my life, Cascais.

[@ItllBeFun]

Olá! Thank you for sharing. Portugal has many lovely place and the people are fantastic. Your home town of Cascais is lovely. We got to visit in the spring.

[@manuelab1677]

I always enjoy watching your videos. I am from the Azores, Portugal but have been in California for over 36 years.

[@ItllBeFun]

Bom dia Manual Thanks we are greatful for your support.

[@Northern_Squirrel]

Bom Dia. You are definitely inspiring your community. Extra income will be a bonus.

[@ItllBeFun]

Northern squirrel what a great name!!!!

[@estelladog1]

Your vids are always informative, beautiful and fantastic! I really enjoy them. Keep them coming. Great continued incentive!

[@ItllBeFun]

Olá! Thank you!

[@birdynumnum3473]

Good episode and excellent video quality👍.

[@ItllBeFun]

Obrigado! Thanks for watching!!!

[@wallywal6139]

The advice you've given has always been solid with achievable goals along with being inspiring. We were able to purchase a property in Portugal last year and are now quite close to the final move. We will live well below our means like you suggested and during our trips I discovered a niche that fits my skill set like a glove. Already developing a business to fill that void with some new friends who have compatable skills. We could not have retired comfortably in the US and I would have worked until I couldn't. It can be done. We're 67 and 68 so not exactly spring chickens.

[@ItllBeFun]

Olá Wally, Congrats! Thanks for sharing your story. It doesn't matter your age. You are going to have a wonderful time.

[@lauras8674]

I am reimagining now Allen. I bought your move abroad kit! I will retire sooner than later!!!

[@ItllBeFun]

Keep planning it will happen! Thanks for buying our program. Hopefully we will see you in August at the online It'll Be Fun Moving Abroad Meetup.

[@lauras8674]

I will be there ☺️

[@jonathansargent6224]

Thanks for sharing your journey! What is the name of the path your walking? Does it connect different towns? So pretty!

[@ItllBeFun]

Olá! Levada Nova in Tábua it goes though many town. But we were above Tábua.

[@garykraun8950]

We are very confused about taxes on SS and our Pension. As well as keeping SS benefits in Portugal. We have an income from both of 100k. I’m seeing 48% taxation on our money. Can you help me understand what the deal is?

[@ItllBeFun]

Olá Gary, Portugal taxes can be high. Unless you have a old NHR program or qualify for the new one. The basics are listed below. The best thing is a discuss with a Portuguese tax attorney. Ours is listed in the description. Tell her we sent you. Also France has a good tax treaty with the USA, and Greece and Italy have some good tax programs still available. As of November 2024, Portugal's Non-Habitual Resident (NHR) tax regime is undergoing significant changes. The original NHR program, which offered tax benefits to new residents, is set to conclude on December 31, 2024. In its place, the Portuguese government has introduced a new scheme, informally referred to as "NHR 2.0," officially known as the Tax Incentive for Scientific Research and Innovation (IFICI). Key Features of the New NHR 2.0 Program: Eligibility Criteria: Individuals must become tax residents in Portugal. Applicants should not have been tax residents in Portugal for the previous five years. Eligible professions include: Teachers and scientists. Professionals in high-value-added activities such as: Extractive and manufacturing industries. Tourism-related sectors. Information technology and related services. Agriculture, aquaculture, and forestry. Research and development, especially in high-tech areas. Defense, environment, energy, and telecommunications. Shared service centers. Highly qualified professionals working in recognized entities or startups certified by relevant Portuguese authorities. Tax Benefits: A flat 20% tax rate on qualifying Portuguese-sourced income. Exemptions on most foreign-sourced income, including dividends, interest, capital gains, and rents. Notably, foreign pension income is excluded from these exemptions and will be taxed at progressive rates ranging from 14.5% to 53%. The primary objective of the NHR 2.0 program is to attract and retain highly skilled professionals in sectors deemed strategic for Portugal's economic development. This targeted approach aims to foster innovation and bolster the country's competitive edge in various industries. For individuals interested in applying, it's essential to verify that their professional activities align with the specified eligible categories. Additionally, maintaining compliance with Portuguese tax residency requirements is crucial to fully benefit from the program. Given the evolving nature of tax regulations, potential applicants are advised to consult with tax professionals or legal experts familiar with Portuguese tax law to ensure accurate and up-to-date guidance.

[@shahnazpersian330]

Hi. Is there a lot of public smoking happening in Madeira?

[@ItllBeFun]

Smoking is still acceptable in Europe. So you will encounter it throughout the countries as you travel.

[@MrDamon888]

Misconception. You may double your money every 7 years, but it only barely keeps up with devaluation of currency.

[@ItllBeFun]

Thus is true. Thanks for sharing.

[@birdynumnum3473]

Whatever happened to Rrrrrrrrrex the cat?

[@ItllBeFun]

Rex is an extra happy guy these days since we moved to our new place.

[@trevorkelly5036]

The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.

[@ItllBeFun]

Olá Trevor, Since we don't know how you are invested recommendations would be dangerous. We learned to manage and build our portfolio through a program called Rule 1. You can read the book by Phil Town to get started or go to the website and take a look. There are so many good books and learning programs available. The best is to keep reading and learning.