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Home Lifestyle

Why Allen And Linda Retired To The Algarve, Portugal

Just How Cheap Is Portugal?

Kathleen Peddicord by Kathleen Peddicord
Aug 21, 2020
in Lifestyle, Portugal, Retirement/Living
0
carvoeiro in the algarve

Carvoeiro, Algarve Image Source: iStock/Nisangha

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It sounds like a vacation—and for many it is—but, at these prices, you can afford to make it a holiday that never has to end.

In fact, I bet it’s cheaper to live here than it is where you are now.

I’m talking about Portugal… where you could live a very comfortable life—frequent dinners out, cocktail hours, shopping, household help, a home near the water, etc.—on as little as 1,786 euros (about US$2,000) per month.

But the great thing about Portugal is that you could go much cheaper if you wanted…

Forgo the frills, and you could live well on just 922 euros (less than US$1,100) per month.

As Portugal retiree Allen Freeman explains, “We knew we had to retire overseas.”

“It’s cheaper and easier. And with all the chaos back home, we were ready to take that step.

“It was the right time. We just… didn’t know where.”

For years, Allen and his wife Linda had researched far and wide.

Exotic locations all over the world.

But they settled on Portugal.

Why?

Because they found it was the cheapest and safest place in all Europe.

“We are in gorgeous Silves, nestled in the Algarve region,” Allen explains. “A little walk and we’re in Old Town, where we can take a coffee break, get some sun, and avoid the tourists.

“There’s a castle, a cathedral, museums, tons of beaches…

“Having our own villa a few blocks from the beach is a dream we could never afford in America.”

Here on the Portuguese coast, Allen and Linda can live the retirement they’ve always wanted and then some.

Former teachers, they had never led expensive lives, and they weren’t ready to start in retirement.

But in Portugal they’re enjoying a lifestyle that could definitely be described as rich… on a schoolteacher’s budget.

Lots Of Places Are Cheap—But They’re Not Portugal

For about US$200,000 you could buy a two-bedroom, two-bath villa in one of our favorite towns in this country.

You could eat out for US$6, grab a pint of beer for US$2, and drink a cappuccino for US$1. A grocery trip for a week’s worth of food will put you back just US$18.

All in, Allen and Linda are living in a villa close to the beach in a charming town for about US$1,600 a month.

As Allen says, “During our working years, Linda and I never lived as well as we do now. It’s like we’ve earned this.

“We finally got to live like we always hoped but could never achieve before.”

A Simple Life By The Coast In The Algarve

Despite being near the ocean, the cost of living in Portugal is, on average, 30% lower than in any other country in Europe.

The southern region of Algarve in the country is our #1 choice for living overseas—it also happens to be incredibly affordable.

To give you a better idea, here is a breakdown of monthly expenses for a couple:

  • Rent (for a basic apartment about a 15-minute walk to the water): 400 euros
  • Public Transportation (for an unlimited pass for the bus that can take you all around): 40 euros
  • Gas/Electricity/Water: 130 euros
  • Cable/Phone/Internet Bundle (TVMucho annual subscription for WiFi and TV): 78 euros
  • Entertainment (for a couple dining out at a restaurant twice a week): 204 euros
  • Food and Groceries (for fresh, local foods… imported, frozen, and processed foods will cost you more): 70 euros

TOTAL: 922 euros

Kathleen Peddicord

 

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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