Why Retiring in Portugal Should Be at the TOP of Your List

[@chinesecrested9528]

I moved to Mexico in 2009. Sold the beach house in 2020 and never looked back. We own a house in Thailand since 2020. Great life but gets super hot and busy and humid. We now bought a place in Central Portugal east of Nazare. Price index is good, people are friendly and we are learning Portuguese. We literally drove from Faro to the northern border above Braga near Spain without any concern. Roads are excellent and there is zero road rage. We will not be moving again.

[@jamescalifornia2964]

• Sounds nice. You have travel experience living in other countries. Thanks for the info. 👍

[@desertdweller8520]

I moved to Portugal. I live on Madeira island. This is one of the best decisions I have ever made. I can live well on my pensions. I am purchasing a property with an 8 year mortgage. I am loving my life here. My life would be so different in the US. It's not for everyone but it's perfect for me.

[@markbrownfield437]

Madeira is a paradise! We were there in Nov 2022. Favorite place in Portugal and the people were super. Sounds like a great move!

[@jamescalifornia2964]

Learning the language is the only obstacle for most expats 👍

[@paulhaas4299]

Our Rich Journey is an excellent You Tube Channel, with a family that retired to Portugal early. Very good resource on the subject.

[@csmankowski]

Very timely. We just returned from 3 weeks in Portugal. Friends just moved there and wanted us to do the same. Found both good and bad, a bit different from the “Instagram Portugal”. When my wife saw this video she asked if I was still interested in Portugal. 😂 This isn’t a Portugal video, this is my retirement guy!

[@macaccount4315]

I just found this and am so happy to see. I did the Golden Visa 3 years ago and am retiring early there now. It is unbelievably affordable compared to the USA

[@beverlypatterson2550]

Thank you for the wonderful video. I did not see a link to view more of your videos. Hopefully I will be able to see the next time you post.

[@torycook1215]

Excellent advice as usual. Thank you. 👏👍🏆

[@2Rugrats9597]

My goal when I retire is to stay in a country for 90days at a time cause that why my passport will allow in most countries. Portugal is one of those countries in Europe where I will be staying for 90days then Poland, Hungary, Czech Republic, then come back to the U.S. for 4-6 months and keep doing that every year as long as my health keeps up well. There is so much to see around the world and many places you can live short term for between $1K - $2k a month as a single person and live very very well

[@jonathanjacques7250]

Smart plan.

[@JorgeLopez-dg7ei]

Great plan

[@mattwoodhead2441]

Unfortunately you will have to change your plan to 90 days in a Schengen country then 90 days outside Schengen area.

[@2Rugrats9597]

@@mattwoodhead2441 sounds good to me!

[@annyates2880]

I’d love to learn to how to do this. Guess it would be hard to bring my cats, huh? Lol

[@matthewcarlson3016]

In March I walked from Lisbon through Porto to Spain (Camino). Warm and welcoming people, clean!, great pace of life….the language is a challenge but many young people speak English.

[@megbrewer6860]

How was the section from Lisbon to Porto? Did you have challenges finding accommodation that time of year? I’ve walked France’s & Norte. Looking for my next walk to celebrate retirement next year. Thanks in advance!

[@amyyates8273]

I’ve been waiting for this video! It verifies everything I have heard and read. We are currently visiting my husbands family in the UK, heading to Portugal next week to see if it’s a potential retirement destination. My SIL and BIL love living there and I hope we might too. Thanks!

[@timelston4260]

Portugal scores 96 out of 100 on the Freedom House freedom score. That's compared to the US score of 83. Only Sweden, Norway, and Finland have scores of 100, but they are much more expensive.

[@jamescalifornia2964]

Interesting ... 👍

[@anthonybutler3157]

Great video. Liked the highlights but there is much more to portugal than the principle cities and the Algarve. We have lived in small town portugal for 4 years and love it. it does take some work to learn the language but definitely worth it to particpate in and be welcomed by the culture. keep up the great videos

[@HolySchmidt]

Thanks for your input Anthony.

[@ralphhardie7492]

You're not wrong People are especially wonderful. Awesome history and good neighbours... Perfect

[@sfuller94]

i worked in Sintra (south of Lisbon) back in the 90’s. Loved it!

[@theotherdonald8604]

This was done very well with your format. I would like to see more destinations from you. Thanks

[@HolySchmidt]

Thanks Donald

[@ppw8716]

Thank you, Mr Schmidt. I enjoyed this thoroughly. Portugal is somewhere I’d love to visit and, perhaps, even retire to one day. I enjoy all videos tremendously. Your videos are succinct, very informative and on point.

[@chessdad182]

Nice. I probably won't retire there, but a long visit sounds good.

[@HolySchmidt]

Seems like a sensible option CD. I know someone is going to spend 2 years there before making further life decisions.

[@estateruby]

Also remember visiting a place is NOTHING like living there. Not even close. I’ve seen this first hand when I lived outside of the U.S. Most have stars in their eyes from visiting, and turn around and go back within a year at most.

[@sct4040]

A year abroad is not bad.

[@Nemo-yn1sp]

I'm avoiding air travel because of serious health issues with the chemicals in fragrances (from dryer sheets to hair & body sprays, etc) that caused me to retire a lot earlier in 2015 than I'd planned, and has pretty much made me a recluse other than to deliver product to customers (started a small, unique business that is in the process of being sold and transferred). Currently working out how to move to Mexico from FL (oh what a horrible state!) because I can drive (but that got so much more expensive in the three years since I started the plan), whether to keep my funky property or sell, and the details to getting my temporary residency, and redistributing a lifetime of possessions. So many decisions and hard tasks (for example, sentimental things - what to with them?) Your channel is a on-going valued resource in this journey for me. Thank you. I hope you are appropriately compensated for your work and knowledge.

[@davidsiemer7578]

Definitely in my top 5 list of places to retire. Also looking at Boquete and Baguio as well. Good commentary 👍😏

[@nancyesposito1020]

This was great I would love to also send comparison for living in Italy on retirement. Thank you love your videos!

[@HolySchmidt]

Good idea Nancy. Let me think about how to do that.

[@MonicaGz]

Same!

[@spankynater4242]

I am moving next door to the bunny ranch when I retire.

[@robreeves4059]

Excellent video. Great information. Please continue to share videos and information like this. Many of us are retired or close to retirement and living abroad may offer many benefits to us that we simply aren't aware of. Again, excellent video and shared information.

[@HolySchmidt]

Thanks for the kind word Rob

[@HolySchmidt]

Thanks Rob

[@2Rugrats9597]

Even though it’s about 40% less than U.S., it’s really 30% cause you have to factor in the exchange from dollar to euro which is about a 10% loss exchange in value, but I have been to Portugal and absolutely love it, from the friendly open minded people, culture, food, nightlife, beaches, etc

[@sharilove6222]

right now it is 1.04 US to 1.00 EU ....much better exchange rate than even 6 months ago

[@Drewbie2415]

Excellent video. I am deciding between Porto and Valencia (Spain) for my retirement. You can't beat either for cost of living and personal safety.

[@HolySchmidt]

Thanks for the comment Drew

[@icedteamama176]

Not sure about cost difference but Valencia is soooooooo beautiful!!

[@Calventius]

I would say Valencia or Maliga.

[@luisvasconcelos1053]

Coming from US makes more sense going to Spain because most of US citizens already speak Spanish

[@josephpettit8572]

I agree Portugal is a great place, I would also recommend spain, southern Italy( naples and lower) and greece (outside of Athensand other tourist locations). Some very beautiful and cost effective locations

[@WrightViewLLC]

Portugal's moving up on my list!

[@HolySchmidt]

Outstanding!

[@dianaford003]

We're moving to Mexico. Much closer to home, with all the amenities you're talking about. It'll allow us to retire easily 4 yrs earlier than originally planned.

[@kevinmccarthy2793]

We're looking at Portugal, the mountains of Spain and NW France. My wife is an artist and we'd love to have art workshops come in.

[@seanpatterson7035]

Thanks for another great video, Schmidt. Muito obrigado

[@HolySchmidt]

My pleasure!

[@dlg5485]

I have been researching migrating to Portugal when I retire (still 10 years away) and it is an amazing choice for so many of reasons. That said, glowing videos like this one are ruining the 'secret' haha. Some expats currently living in Portugal have blamed expats for the rising cost of housing in Portugal. A lot of westerners with a desire to move there and plenty of money to spend are not doing their homework and are significantly overpaying for housing and other goods and services. This is making things increasingly costly for natives, which is unfortunate.

[@HolySchmidt]

Thanks for the comment D.

[@Mexicobeanpole]

Once any retirement location hits media it’s soon to follow that some will get priced out.

[@scrillathekid5562]

Portugal also had a very attractive golden visa program for years. A lot of Chinese (25%) take advantage of the program. The program has recently changed, but it’s definitely not just the overspending americans that are driving up the prices. It’s an attractive location to live and work for folks from all over the world.

[@icedteamama176]

@@debiwillis9045 really? My sister mentioned Costa Rica still cheap!

[@nakho3550]

Why is it that people worry about American expats driving up cost but never worry about immigrants in America driving driving costs up or down? It's called capitalism. Inflation drivings up cost, not Americans. If there are more people looking to purchase homes than is in the inventory, of course prices will go up. It doesn't matter if the buyers are locals or expats. I'm sure there are locals profiting off tourism who make enough money to purchase a home.

[@gurrrrlish]

I live int he US - but I am from Portugal...best place on earth....

[@brown-eyedgirl858]

Thanks so much! This is really helpful information. 🙏

[@HolySchmidt]

My pleasure.

[@scottdawson3604]

Nice, but I grew up in So Cal. and ditched school quite often to go surfing. Nazare is the top of my list, not that I'd go out, but it's a beautiful place to watch 80 foot waves.

[@davidabbott1951]

We've been thinking about exploring Europe for a few years from a base location WITHIN Europe - going over once, then visiting the various places by train or air without having to deal with long travel times or jet lag. Having a nice, warm, sunny, affordable and safe place to come back to would make it a lot more doable.

[@latinaalma1947]

Great idea.

[@frankellis9627]

Portugal, Colombia, and SE Asia are 3 places on my list. America is getting too expensive to live in and I have no reservations about moving to a foreign country. You can live really well on $1500 Social Security a month in most countries 😎

[@MrWaterbugdesign]

True on the cost, but you can live really well on $1500 in the US too. I've been researching countries for 2 years and I don't really see much difference. It really comes down to what you want. For example if you really want to live near a beach, or on a beach, with all year warm weather then SE Asia is super cheaper than Hawaii. I you want a young attractive feminine wife that's going to be super expensive in the US but can be had for that $1500/mo budget in SE Asia. But there are many downsides too. It's really hard to compare.

[@kathleenreyes4345]

Thank you for this post/video!!

[@AhJodie]

For some reason, this country is calling me, because there is something in the history and terraced agriculture land that seems familiar, although I have never been around any, from Wisconsin, USA. Thank you for the video.

[@bam111965]

Thanks! Portugal just jumped to the top of my list of places to explore!

[@HolySchmidt]

You bet Brian.

[@FaeDruid]

Loved this video but I wish you’d talked more about the visa process. Thanks.

[@FaeDruid]

@@CutFromYaJobAiAiAiSorry4Ya thanks!

[@mikeflaherty9304]

Great info!! Thanks Mr. Schmidt

[@stephenchen4448]

Thanks. Good to know.

[@wxmath]

We are planning to retire in southern Italy nrxt year but you make a strong case for Portugal instead. Great video, love the diversity in your topics. I watch every one as I'm nearing retirement. Lucky to have found your channel.

[@MrWaterbugdesign]

Very cute, "we are planning". Single men retire to SE Asia.

[@deanpapadopoulos3314]

Good job, Holy and thank you for putting Portugal in its rightful place as a destination for any length of period.

[@Xrusader]

After watching videos hyping up Portugal over the last few years, I made my first trip to Portugal two weeks ago to evaluate it as a retirement spot. I drove about 800 miles through various areas of Portugal to get an idea of the landscape and costs. I found it to be not much less expensive than the US. The food was good - but not great. English is widely spoken in the major cities/tourist areas, but you'll need some Portuguese outside of that. I enjoyed myself, but can't see spending the rest of my life there. Last year I visited Greece. It's still at the top of my wish list for retirement.

[@HolySchmidt]

A lot of the difference is if you lived as a tourist (ie hotels and restaurants only) or as a resident. My guess based on your comment is that you never had an apartment or home.

[@Xrusader]

@@HolySchmidt I'm a homeowner in my 50's. But I live in Ohio - which isn't much more expensive than Portugal (although Ohio's weather sucks). If you're from California or New York, Portugal would seem much more appealing from a cost standpoint.

[@seanpatterson7035]

the average monthly income in Portugal is around €800 per month. One can live as frugally or as lavishly as you like. Third safest country in the world, excellent and safe public transportation, excellent healthcare system, European culture and close proximity to other great countries via budget airlines, choices of climates, think San Diego, ( Cascais ), Seattle and Portland ( Porto and Coimbra ) and so on. Beautiful vistas everywhere. Most people under the age of 50 speak English , except maybe in smaller towns and villages.

[@Tony-fh2wi]

The food was good - but not great? Really? Portugal have one of the best food in Europe and the fish is Top quality!

[@michaelcollins8316]

I have been to Portugal several times and you still need to be careful of pickpockets and petty thieves in places like Lisbon especially in the town center. I agree it is a great place but you still need to be observant. I actually prefer Malta or Greece, interesting video.

[@clam371384]

Petty thieves are everywhere, my wallet once got taken out from my purse in paris metro by three young girls. So it is EVERYWHERE! i’ve visited Lisbon three months ago and love it!

[@michaelcollins8316]

@@clam371384 that is just what I wanted to point out, I loved Portugal too. We had 2 girls try to get my better half’s purse on the metro in Rome using an oversized art case but didn’t realize that I was with her until I told her to watch her purse very load in the train car, they left quickly.

[@chessdad182]

@@clam371384 Hah. I visited Paris 40 years ago and I remember the swarm of children with newspapers in their hands. They ran up to tourists and pressed the newspapers to the tourist bodies during the pickpocket activity. My friend and I were big guys so they left us alone.

[@clitsing6034]

no pickpockets in greece? where do you go?

[@nakho3550]

@@michaelcollins8316 If you know petty thieves and pick-pocketers are EVERYWHERE, why did you feel it necessary to make the comment about petty thievery in Portugal?

[@desertdweller8520]

You are preaching to the choir. I am moving there within the next 7 months.

[@HolySchmidt]

Well done

[@trackguy4038]

I will consider it!!!!

[@BarryMcColeman]

Like these type of videos as well as your others!

[@estateruby]

We have researched Portugal extensively, and scouted it twice with third time to come this year. We also have a relative there. We are looking for a place to retire. Much of what you say is correct, but you don’t mention the realities and downsides. If you are to live in the more popular areas, there is very little difference in cost of living than much of the U.S. It’s not like it used to be. You have to go to the smaller areas to find the savings. Also, it’s a must to have private health insurance, which may not be as cheap as you think….especially when you compare it to Medicare. Which is another expense you have, unless you know you’re never going back to the U.S. again. So, you’ll have two health insurance premiums. The promotional companies give good information, but are in the business of making money and will always push the positives without mentioning the negatives. Their cost of living estimates are way off. We have been in Europe extensively, and it’s also worth noting that many expats can’t deal with the major differences, and go back to their home country. Portugal is still great, but is changing fast. We’re looking at other countries too, which I strongly suggest.

[@seanpatterson7035]

Relocating to another country, especially if you’ve not traveled abroad much and still want to have things done like they are in the US can be a big adjustment, sometimes too big. Lots of KZbin videos describing the good, the bad and the ugly of retiring to another country, take the time to become educated. And take the time to live like a local in a place that interests you, don’t just be a tourist. Third safest country in the world, nice quality of life living in a beautiful country with European charm, mild weather, excellent and affordable healthcare,medical bankruptcy in Portugal doesn’t exist, excellent and safe public transportation system, many cities a car is not necessary. The average monthly income in Portugal is €800. One can live as frugally or as lavishly as one likes.

[@joaquimrequio212]

You know that when you become a Resident in Portugal you will also have access to the public health service. Even more important is, in the case of serious diseases, public hospitals are much better equipped with cutting-edge technology, so much so that private hospitals send these serious cases to the public.

[@estateruby]

That is why our next visit to Portugal is going to be in December. We want to be there when there are few tourists, and not so wonderful weather. And, will go nowhere near any tourist areas, and live like a local as much as we can.

[@silveriorebelo2920]

"changing fast" - you mean the price of renting or buyingan apartment in the very central or very turisty areas?? - yeah, it is true, but the rest is pretty unchanged - you are not being serious about health insurance, are you?

[@MrWaterbugdesign]

Yes, I've found the same in videos for many countries. Not cheaper when comparing apples to apples. In most moving to rural and smaller towns is costs less but you get less and again this is exactly the same in the US. You can live cheaper in rural KY...do you want to?

[@SD-mo4io]

Our Rich Journey has a series of great Portugal retirement videos. This and theirs are great resources.

[@HolySchmidt]

Thanks SD

[@joekuhnlovesretirement]

I never considered Portugal. Excellent

[@patrickmchargue7122]

A good video. I hope that you'll explore other foreign nations too.

[@joedyer1785]

Thanks

[@user-ey9bt7fs6n]

Great stuff. Keep up the excellent content. I do hope to visit Portugal one day.

[@Hawking1969]

Great topic and video format. Sounds a bit too hot for me. How is north Portugal? Maybe it's cooler there.

[@stevewise1656]

I read that index last night and shouldn't have been shocked the US is near the bottom for peacefulness, quality of life, and cost of living. We've visited Lisbon, though need to travel to other regions.

[@jamescalifornia2964]

😖👎 The USA is on the skids. Not likely to improve any time soon ...

[@paullemiremusic3101]

Great video! I’m goin to Portugal!

[@miguelbarradas9858]

I am Portuguese brother 🇵🇹😍😍👍👏👏

[@richardc488]

Thank you Schmiddty

[@patriciamoore3166]

loved this!

[@HolySchmidt]

My pleasure.

[@ka7krz]

What about Costa Rica? When I was young it was a great place, haven't been back for 50 years.

[@gabyfields3235]

Could you have a video about U.S. taxation for retired expats in this connection? Will expats have to pay taxes in the U.S. plus taxes in the country of residence?

[@LeonardBottleman]

As a US citizen you are always required to file taxes no matter where you live. Many countries have tax agreements with the US (Portugal is one) so you do not pay double taxes. Typically you pay taxes in the country where you are a resident, and then deduct the amount you paid from your US taxes (this depends upon the type and source of your income).

[@gabyfields3235]

@@LeonardBottleman Yes, I know that we will be required to file, regardless of where we reside. I also know that you can exclude earned income up to ca. $110k (per person) from U.S. taxation, but this does not apply to SS or pensions. I would like to know whether there potentially would be double taxation.

[@anthonybutler3157]

check out the NHR tax scheme in portugal. reduced taxes for foreign retired residents. Portugal has a tax treaty with the USA so no double taxation

[@JerryStevens]

Portugal sounds awesome. I'd like to vacation there. Proximity to family is too important to us to retire overseas. Yes, we can fly back for visits but not as often as we see family now without eating up the savings of living overseas.

[@HolySchmidt]

Thanks Jerry

[@jimsmith8324]

The other issue for me is property laws. When I buy, I need to know my contract is iron clad. I don't want to run afoul of some arcane rule like I've read about in Panama.

[@EricOnYouTube]

I am preparing to move to Germany. But am hoping to eventually retire in Italy.

[@lroberts4162]

Very interesting video. For the first time in watching your videos, I sense a departure from the USA?

[@davidmartinspresents]

Another top location to retire in Portugal are the Madeira Islands. English is widely spoken. Portugal and England have the oldest alliance in the world, many British live in Portugal and Madeira.

[@headlibrarian1996]

I'm surprised, islands are usually very expensive places to live.

[@davidmartinspresents]

@@headlibrarian1996 It is relative some items higher in Madeira but not a big difference for most things. Madeira has become very popular these last few years therefore all the foreigners moving there are driving up the real estate prices, same also happening in Lisbon, Porto and Algarve.

[@paulgoble9655]

Good points, but you're not living like royalty for $2500 a month. It can be done, but you'll be living in a 1-bedroom flat and not eating out too much. A nice 2 bedroom apt in a medium size city, not the Algarve or Lisbon, is going to be around $1500 - $2000 a month. A nice 3-bedroom house or condo is around $400,000 to $500,000. Not even beachfront, but somewhat close to the beach. I've been looking at rental and purchasing prices the past couple of months. Sure, it's cheaper than LA or NYC, but there are places in the Mid-West that would be comparable. I think medical care and overall lifestyle is the main reason I'm leaning towards Portugal.

[@nrs6956]

A god analyses. Thank you.

[@HolySchmidt]

You bet

[@tricot6]

i would think another factor to consider is what taxes need to be paid in portugal ..

[@stanm2.0]

Love your channel and always get great information from you. All the information on Portugal was great, but I have never seen a good video that address the effect and need to convert dollars to the local currency. The loss (any maybe the gain) of buying power to convert your money as a ExPat. I would love to hear your thoughts or any direction to information on the subject. Thanks

[@maisiepoot5574]

Any loss or gain will fluctuate over time, as the FX changes. You just need to be aware of that - future FX cannot be predicted with certainty.

[@lindadorman2869]

After traveling and working in 40 countries since 1990, I considered Portugal for retirement but found a better choice in Malaysia. The cost of living is less with major cities (Kuala Lumpur, Penang), mountains, beaches, islands, parks and more. Great food, diverse culture, world-class healthcare, shopping, modern conveniences and everyone speaks English! Have to do the Sarawak My Second Home (S-MM2H) program vs. peninsular MM2H as the financial requirements are lower.

[@icedteamama176]

Very interesting! A friend of mine is also planning to retire in Malaysia. Is healthcare free for everyone or you need to be a resident/citizen first? LOVE Malaysian foods!!!

[@yannip2083]

Totally agreed. Malaysia is more advanced too, with modern conveniences, state-of-the art shopping malls, more variety of food, etc. English is widely spoken and people are so welcoming too.

[@yannip2083]

@@icedteamama176 I don't think healthcare is free but it is very affordable even if you pay out of your own pocket, and cost way less than the copay in the U.S.

[@MrWaterbugdesign]

Malaysia is top of my list. And actually living in Sarawak is currently my first stop. Buying land is a little more available in Malaysia than other SE Asian countries.

[@yannip2083]

What are the current financial requirements for Sarawak vs Peninsular?

[@butopiatoo]

Interesting to think about but does the reality of moving to a foreign culture match the fantasy of living there? Living as a tourist gets old after awhile and the "locals" may not greet you the person with open arms. Still fun to fantasize about doing it.

[@anthonybutler3157]

been here in small town portugal gor 4 years. The portuguese have been most welcoming, though learning the language is most beneficial.

[@butopiatoo]

@@anthonybutler3157 sounds like a beautiful place i hope to visit sometime.

[@jeroldpaquette9068]

A nice country but to visit and not relocate! My children and grandchildren are all within a few hours drive; Portugal is a very inexpensive country, which clearly is a bonus.😊

[@LeonardBottleman]

Thanks for sharing. "Alentejo" is pronounced "al in TEJ ooh". The 'j' is Portuguese is not like the 'j' in Spanish, and trailing 'o' is pronounced like a long 'u'.

[@carlj4992]

Thanks for correcting that as their is a tendency for American folks to pronounce the J with the Spanish pronunciation. Now no more Americans in Portugal or other immigrants or you’ll increase the cost of living!😂

[@I-LikeColdBeverages]

Why doesn't Medicare coverage extend to overseas Americans? They seem to manage health care expenses for US veterans who live outside the country.

[@olegkon1]

"Cost of living is 1/3 of US" how did you come up with that? Yes, food, health insurance, travel, etc - maybe. But consider the cost of yearly rent (say, in Algarve), where it's available from Oct to April, but summer - prices jump very much and almost impossible to find a 12 months rent. Also, check the cost of gas: E1.7-1.85/liter (that is about $7-8/galon. yes, distances there are shorter). Price of cars would be at least 50% higher than in US (incl. tax). Cloth would be around US prices. I love Portugal, but lets be more precise!

[@eduardoavm4197]

18 beaches?!!!! 80! Eighty, man. Probably more. Forgot about islands: Madeira and the 9 islands of Azores, 5 hours flight to the US. Otherwise, a very nice video.

[@bwake]

“By the time, someone tells you the secret of their success, it’s too late.”

[@benv5812]

Holy Schmidt... you need to diversify your hand gestures. Same pattern repeated. Pretty obvious. Good video information.

[@2023Red]

The stip by step basic steips please: I want a 2 bdm 2 bath furnished near the beach for a year lease. And healthcare similiar to my current medicare orignal with plan f. Where and how to get it done?

[@robocop581]

I think the Gov't is only offering Golden Visas via property investment in less developed areas. Only the property investments inland and possibly rural or low-density areas are eligible.

[@grizfan93]

That is correct. But, there are definitely better options for most than the golden visa. the GV is great if you want residency without having to live here most of the time. But if your goal is to get Portuguese residency and live here? D7 is a much better option.

[@ridemfast7625]

A friend lived in Lisbon for a couple months and learned to not say he was American. Their is resentment due to "rich" people moving there.

[@andympro1]

transferring Social Security from the US without any extra fees?

[@paulataylorluxuryexperiences]

Its great to see a lot of Portugal's plus points being checked off in this video. Love the name Holy Schmidt too! I was raised in the Algarve and have lived in Madeira Island for the last 15 years. I was a TUI holiday rep here for many years helping people have amazing holidays and these days I am part of the local Sothebys Realty team helping people find their dream properties in Portugal. I hope its alright joining in. I might be a useful contact for people considering moving to the mainland Portugal or Madeira Island. I am English but I went to school here, am employed here, have rented as well as bought & sold several homes here and I even have a Portuguese language crash course for those who want an easy way to learn Portuguese. :0)

[@Databhoy]

I’ve been looking to retire on the Silver Coast of Portugal where the climate is milder - not a fan of the heat. I am interested in the tax ramifications of relocating - which US taxes do I have to pay and which Portuguese taxes do I have to pay?

[@jimsmith8324]

What about banking? I will only place my money in an American bank. Does JP Morgan have a branch in Lisbon?

[@alfredoltinocol]

Another excellent video. Thanks for the information as it is highly appreciated.Due to personal circumstances I'm probably still 8 years away from retirement as I'll most likely wait until I hit 70 yrs old to retire but it never hurts to start looking at alternatives. How do you compare Portugal to Spain?

[@MrWaterbugdesign]

Higher cost in Spain.

[@taunyawren8020]

I would be curious if you could do a video on retiring in Europe with more countries. I’m very interested in England, Scotland and France. It seems confusing and difficult. In the UK apparently we can go freely for 6 months and then after 5 years apply for a long stay. But what would we do between 6 months and 5 years? Go get our passport stamped? Is this good enough? I want assurances before moving, like before moving my pets, buying a house. Then there’s the question of whether we can get a home loan or if we should pay cash or just rent? In France it seems great to buy but it seems like you need cash.

[@jimsmith8324]

As a cancer survivor, healthcare is at the top of my list. Does my American Medicare work in Portugal or am I on my own? Also, how are drug costs vs USA? IE, the cost of Enbrel for rheumatoid arthritis in Lisbon vs anywhere in the US?

[@jamescalifornia2964]

✔️ No , USA MediCARE does not work in other countries. You may find private medical insurance in countries such as Portugal just as good and possibly cheaper . 👍

[@acastro5197]

I wonder how Portugal compares to France .. France has a large retiree community .

[@Rockin4D]

Not for long. Californians have single-handedly blown up the real estate markets wherever they settle. It’s pricing locals out of their own country ! There are already news articles about this.

[@jasonjames4254]

Yep, nobody seems to like carpetbagging Californians - especially other carpetbagging Californians!

[@latinaalma1947]

So very true abput Californians.

[@edhenry2848]

Shhh! We don’t want the place overrun, inflated and ruined by retiring Americans. Those who already know Portugal is a top place to move and retire don’t want to see it get discovered and overrun. Still, it shows that Holy Schmidt knows his stuff.

[@HolySchmidt]

Thanks Ed

[@brianwhite1189]

It's already happening. Many more Portugal expat/digital nomad youtube channels since covid restrictions ended and it's at or near #1 on every retiree/digital nomad places to relocate.

[@jjgreek1]

Greece should be higher on the list because they tax retirement income only at 7% for all foreigners. Plus Greece has the lowest "Golden Visa" requirement at only Euro 250,000. There are many golf courses, thousands of beaches, the best wine, a very vibrant capital Athens, and already tens of thousands of American retirees there. The Peloponnese, which is the Tuscany of Greece, has many beautiful towns on the coast and this region has been a magnet for Americans and other European retirees.

[@r.l.666]

Nice video however I need more balance to avoid falling into the romance vs reality trap. Quite frankly, if one limits exposure to Big Media and electronic screens, the USA, in the right areas, is very affordable and a wonderful place to live.

[@jwiki1]

The trouble with Portugal is if you have medications that you need. My friends went through a nightmare getting their meds and spent a fortune. Otherwise it’s awesome!!

[@Tony-fh2wi]

medications in Portugal are cheap, what medications you mean?

[@Colkev2024]

sounds like he likes Porto the best

[@audiophileman7047]

In the movie Casablanca (1942) refugees are looking for passage to Lisbon and then the United States to obtain freedom. Now we have refugees from the United Sates looking for passage to Lisbon to obtain freedom. Unless they have good guitar shops in Portugal, I'm staying in the U.S. 🎸🎸🎸

[@JoeL-sc4cy]

For health care, will medicare or my part-c pick-up any of my medical care expenses?

[@commonsense6967]

Nope.

[@JoeL-sc4cy]

Would I still need to pay the SSA the mandatory payments for part b ? Right now part a, b and d are running me about 700 per month. If this was eliminated, I could probably could afford decent doctor, hospital and drug coverage there.