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In this Our Rich Journey video, we discuss the costs of living and retiring abroad in Portugal and Thailand. Did you know that the average American couple currently needs $3,300 a month to retire in the United States . . . and that’s just the average – many people need much, much more! To retire with $3,300 a month, a couple would need to have at least one million dollars in investments.
IN THIS VIDEO . . .
In this video, we discuss the benefits of retiring abroad and we discuss two great places (Portugal and Thailand) to retire. We also give a break down of the costs for retiring in Portugal and Thailand. Spoiler alert – they’re both well under the average American cost of retiring in the United States!!!
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What do expats do about end-of- life arrangements if they have no relatives who live in those countries abroad? Hospice? Funerals? Burials? Let's say you are healthy, fit, and independent until 70 yrs old. For the next 15 to 20 yrs, you may seriously need assistant living. How do expats deal with that in a foreign country when there is no extended family?
Where did you guys end up trying to?
Finally I find what I looking for!
Albania n Montenegro which country is good for settle down n how to get visa n which person we can meet for my paper work please give me reply thanking you
I retired 19 years ago at 45. I spend $600/mo including everything. I do own my house and live in a nice neighborhood of central Phoenix. The concept that a couple "needs" $3300/mo is silly.
You all are covering so many of the topics my husband and I are considering as we finalize our plans to live abroad. THANK YOU!
I am from Thailand and I estimated that I would need 3500$ a month for my retirement without rent as I already have a house. However my parents are retired and they live happy lives with 1200$ a month. Again no rent as they already have a house as well. This is for Bangkok
I love this video , thank you so much . You guys are awesome, I hope to meet you both one day !!
Also worth noting foreigners cannot own land in Thailand, only buildings solely or condominium units. So if purchasing real estate is important, Portugal would be a better option than Thailand.
Very useful information! We're living in Nicaragua at the moment due to the pandemic. We love living here and it's so affordable. Good to know more about what other options are out there when we decide to move on.
My partner and I are followers of your videos and oddly I stumbled across this one today! And even super oddly, we are planning to retire in Thailand for awhile and then … Portugal!!
We are Australians and just wanted to let you know to obtain a visa to stay in Thailand we each have to keep a sum AUD $33k in a Thai bank account. With this visa we don't have to worry about visa runs every 3 months.
We are planning to move to Thailand in 2 years. By the way, Thailand is on top of the pandemic crisis. They've got strict rules of course and everyone is following. I do feel sad for businesses though, they are suffering due to the lack of visitors. In Australia we can't leave the country and currently borders are shut.
Meanwhile, please keep making wonderful videos. We are really enjoying them.
What about all the visa and travel costs to refresh visa?
What can you tell us about life in Porto, Portugal (healthcare, expenses, visas, etc) for US military veterans who have VA disability benefits and would like to relocate there?
I love your videos! Your easy, conversational style is what makes all of your videos awesome. Plus, this is the absolute best side by side comparison of the US cost of retirement to 2 other awesome cities abroad! This real life budget comparison of US vs other cities is rarely done by others so I'm so glad I found your site!😁
Do you guys speak Thai or Portuguese? I understand it’s cheaper in many parts of the world but there is a language barrier. I toured different countries as a tourist for a week but it’ll be a different ball game to live for long.
What about spain?
Can you please review how you handle expat taxes with the US? Would really appreciate any information & advice. Thank you….Bob V
We're thinking about retirement in Portugal in about 2.5 years. What should we start doing right now?! Thank you! Love your content
How do you guy withdraw money from your investments living abroad? Thanks.
God so dizzy with the spinning photos. Too many in in a row.
Thank you. I visited Porto and loved it. Could you please do a video about cost of living in USA vs Spain?
Guys, Thank you for sharing FIRE secrets. I am a 52 year old teacher, recently divorced. Went to Spain and loved it. Why did you choose to retire in Portugal vs Spain?
I've been fantasizing on retiring overseas for awhile now, alth I'm 45 and don't plan to retire until 62-65. I've considered Portugal, Thailand, Vietnam, Colombia, and Costa Rica. I'm tired of American politics and the negativity here. Why did you guys decide to leave America ?
A question I have is: do you pay double taxes when you retire outside the US? How much trouble do you face taking American dollars outside the US? Do you have to give up your US citizenship? And if you do, how does it affect your children’s citizenship? Do you have to return to the US every year?
My parents are looking to retire abroad but to a "cool" climate. Do you have any suggestions? Thanx😁
I haven't seen this question, so my apologies if it has already been asked. How much at all from a percentage standpoint would you say being away from your biological family played in your decision to retire abroad? I guess after retiring early, you can go home all that you want to, but I was just wondering this. Thanks for all that you all do!!
Great little video! Thanks!
You guys are inspirational. We are planning to visit Portugal in June to see if it might work for us.
I love Chiangmai BUT currently Chaing Mai ranked as the worst city because of the pollution 😢😢😢 I live in Madrid, Im on the way to become like you guys.
Are retirees required to pay income taxes to these countries if living in Portugal or Thailand? I know I'll be paying to the US for the rest of my life.
Please stop with all of the spinning pictures. Great content, but I have epilepsy and can’t watch it. Or if you have spinning pictures maybe have them less frequently spinning amongst so many different pictures. Best of luck with your adventures.
What are the gun laws in these countries abroad? If I can’t have my firearms then it is a dealbreaker. Pretty much the reason why I won’t be living anywhere else other than gun friendly states in the U.S.