This is video is a response to a question posed by Madi B about where we will retire in Portugal.
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This is video is a response to a question posed by Madi B about where we will retire in Portugal.
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Thank you for providing your insights.
Joric , thank you. I asked you in a previous video about entering Portugal. I am just home from a lovely trip to Lisbon, porto & Faro. Such magical cities can’t wait to return !!!
I will move over there for retirement even though I will maintain my home in the US. What work do you do in Portugal? My apologies if you mentioned it before and I missed it.
I believe you’ve answered the question to the best of your or anyone’s ability. Not many can predict what will happen 10 years from now. Just take a look in the rear view mirror. BTW—you only mentioned taxes once. Just curious if you’ve applied for the 10-year NHR program? (Apologies if I’m not remembering.) Once expired my understanding is one would be taxed like other PT citizens. Could be another determining factor. Cheers.
"Most of the people coming to Portugal are retiring, whether you're coming from the UK and France, or Canada and the US" – That may be true for your circle of social connections but I doubt that affirmation survives careful scrutiny of the official numbers. Even on simple anecdotal evidence, I can give you many YouTube links of people from those countries who are digital nomads, students, off grid farmers (many off-grid farmers and VanLife afficionados), investors, the crypto currency tribe, etc. In terms of YouTube videos retirees are clearly outnumbered.
"it's still affordable, it's still safe, still got a good healthcare" – this sentence carries the underlying suggestion that, given enough time, those three characteristics are somehow doomed. That's highly debatable, at least regarding safety and healthcare:
a) Portugal's safety/criminality indexes have improved markedly since the early 90s (AT THE SAME TIME we absorbed a huge wave of immigrants in the early 2000s from countries with higher criminality than ours – Romania, Brazil and Ukraine – a fabulous feat that is never mentioned) and have stabilised recently at their present levels. Why would they deteriorate now?
b) I'm pretty sure that our healthcare statistics have improved in the last two decades (I didn't double check though…). Why would they get worse now?
c) yes, there is some pressure on prices, but as long as we keep receiving a constant flux of Brazilians for whom our minimum wage feels great (it is three of four times higher than what they earned in Brazil…) I think Portugal's inflation will remain lower than in other comparable countries (real estate excluded). And I see no reason for that influx of Brazilians to slow down anytime soon given the state Brazil is in.
I found that interesting that you said you won't be doing that much traveling when you retire. That's our main plan when we retire is to travel. So being near the airport will be good. Our plan was next year but with the recession looming, it may get pushed off a couple years. One thing I will NOT do is move back to the US.