Bom dia!!!! We are so glad you are here! Come join us on patreon we have monthly group online meetups. It's a great way to learn about moving abroad, make new friends and just have fun. *www.patreon.com/itllbefun* . Also sign up for our newsletter, sign up for a one to one meetup and also our It'll Be Fun moving Abroad Program. They are all available on our website *www.itllbefunretirement.com* Get a FREE One to One meetup when you sign up for the Moving Abroad Program use code *FREE1To1* **
@@ItllBeFun Thanks guys. Hopefully, one day we also can enjoy the island the way you guys are enjoying. Enjoy as much as you can. Just remember, “Always leave it better than you found”.
This family is living proof that you don't have to have to be worried and poor in retirement if you're not fortunate enough to have a million bucks in the bank. They have shared their lifestyle and budget a million times on this channel. It's a great option if one has the courage to take the leap. Thank you, Alan and family!
You are so lucky to have been born into such a lovely family. I feel like some Americans are buying too soon. I feel that one has to spend more time in a country in order to make sure that they love the place they're moving to. Thank you for sharing your life with us.
Hi Guys! A very useful video that will be of great help, particularly to people who first thought of moving here a few years ago. The updated information you provided will help them modify their budget to determine if the cost is still within their means. Great info! Cheers!
Olá! Nice to hear from you. We are all safe. We waited a week to get out and drive around. However the other day we drove around the outside of the island. We saw the smoke but not the fires. Mainly because driving a 1970 Bug into a fire area is just silly. But we will show you what we saw in the video on Saturday.
The $3100 is for your family right? So a single person can expect maybe $500 less would you think? It’s food, entertainment, and meds that would be different I think. I’m just trying to get an idea for myself. Thanks for sharing ❤😊
Olá! The 3100 includes 500 for both Alan and Leslie a month for travel. The numbers are for a couple using 800 for a one bedroom apartment. So adjust for the price of your apartment and then remove 30%. If you had a 800 euro rental. Then about 2100 would make a very nice life.
If a couple earns say $36000 in social security income then they pay 37% Portuguese tax rate. After paying taxes they will only have about 22,000 for living expenses You guys need to start talking about that. Lower living cost there comes with a hefty tax pay. I heard most expats bail out from Portugal once first 10 year 10% tax rate for NHR is over.
Olá Fred, It's a graduated tax system. So while the taxes may be higher than the USA they may not be as bad as you think. It is best that each person work with a Portuguese tax professional. That way they can understand.
It really depends on the quality of life you are looking to create. Each of us factors and values things differently. It is so important to do your own research and find the perfect place for you.
You have to look at your total financial picture in order to determine if becoming a tax resident would work for you. I know for example that our taxes would be higher, and some purchases would be more expensive but we'd easily save 20k a year in health insurance/health care costs.
Olá No you cannot Thanks for all of your support. We truly appreciate it. As for the car, we think you will enjoy yourself more if you could purchase one. However the island offers bus passes so you really can easily get around easily.
I live in Dubai and your living expenses were interesting to compare. Excluding accommodation rent, it is costing around €1000 a month less to live here, €1312 vs €2394. The rent for a 3bed townhouse is costing us €1458 per month, but that does include gym, pool, boating lake, sports pitches, and a water park, gate security in the cost. But we have different expenditures that probably make up a lot of the difference . There is no personal tax here and IVA is 5% so Portuguese tax is looking like an elephant in the room, but anyone moving to Portugal should consult a tax planning specialist as there are some efficient ways of legally investing and paying very little tax. But there is also the environmental quality. Madeira wins hands down with its lush sub-tropical vegetation and the very pleasant temperature range. Despite the tax, which we are happy to pay our share, we will still be moving to Madeira to retire to once our home is built and we like your choice of Santa Cruz as it gives great value for money compared to the over rated property hotspots on the island. I know you have had a poor experience of buying property in the past, but we concluded our purchase in less than 1 week after contacting the sellers agent, so experiences can vary.
Olá Russmoor, Thanks for sharing. Actually we are very happy with our real estate agent and company. Any issues we spoke to had to do with the sellers and their agents
Can you post something about school, international as well as local. I have a 9 year old son, we are from India looking forward to Portugal. Also what about jobs in IT space here
Hello, wow amazing ya been there 3 years already, thank you for sharing ya experiences, time passes so fast, how much would it cost for health insurance if ya were citizens vs now , it was $500 then went to a $300 deductible, I assume it would go down but by how much, and are gonna stay the next 2 years to get citizenship
Olá jPuma We actually already have public health cover. Which is covered by the taxes you pay on your everyday purchases. So other than small co-pays you pay very little extra. We choose to keep private coverage. It helps keep you from waiting for appointments or treatments. Hope that helps. Come join our Patreon group www.patreon.com/itllbefun
Love reading your viewer' comments. Some based on gratitude for what you do and others hellbent on proving you wrong. Lol...As soon as I get this 68yr old hip replaced we're on our way to Madeira for a extended stay. We'd appreciate any contacts you might have for a 3 month stay and car rental.
We got you covered. Our trusted vendor list has our Madeira car rental company. They are wonderful to work with and local. As you know we work hard to support local companies. As for the three month rental. Send us an email. www.itllbefunretirement.com And thank you for reading and noticing the comments. They can be colorful and everyone is allowed to have an opinion. Have a wonderful day!
@@ItllBeFun Thanks guys we'll but sure to contact your recommended car rental company! What if anything do you have in terms of a 3 mo. vacation rental ?
Not meaning to be too pedantic, but Alan is in Madeira where lower IVA rates apply compared to the mainland, and the Azores are even lower, and that applies to personal tax too.
3100euros is stretchy. Only 1200 euros to rent a house seek idealista to set prices correct. And only 60 euros in gasoline that is not realist especially with your car
Ola! We talked about that. While they are not a problem where we are..we have echosen not to hike or travel in the areas where they are. We feel it is more helpful to the people and teams that are working to get them under control. We will however travel to the levadas in the area when they are under control and everyone is safe. We will be able to show you the damage and the recovery of the plant material. Hope this helps. Have a wonderful day.
@@ItllBeFun I've looked at about 10 properties (with Claudia) in the last 2 weeks, and I think only 1 was owned by a non-Portuguese. However, I'm not looking at high end properties, so maybe that makes a difference.
the cost of living has gone up everywhere .. there are few cheap places .. don't move to a place just because it is cheap .. that's the carrot being thrown around you tube to expats .. move because you want to move ..
Olá! Thanks for watching and supporting our channel. Let's see that is really difficult to answer. In Funchal it would be 400k or 500k euros if all fixed up. If you can find one. As you go out lower 250 to 350k. A new one even more. Hope that helps.
Thank you for this video. It gives one an idea of the basic cost of living in Madeira. It is encouraging for others interested in Madeira for a place of residency or an extended stay. Like your other videos have pointed out, everyone's situation and expectations are different. Nonetheless, this video gives a great framework for individuals to build on, along with additional research for their specific situation.
Olá Chris, What a perfect way to sum it all up. Each of us can build a wonderful life, with a little planning and patience. Thank you for your support. Have a wonderful day!
Did you get your health care insurance at age 65 or earlier? I have been told it is cheaper if you apply before age 65 and then the rates will not rise as fast as you age past age 65. Did your pre-existing heart condition get covered?
Olá! How sweet you are. He had 6 inches cut off last month. It is sad that you don't like it. But there are plenty of men with short hair you can like instead.
Bom dia!!!! We are so glad you are here! Come join us on patreon we have monthly group online meetups. It's a great way to learn about moving abroad, make new friends and just have fun. *www.patreon.com/itllbefun* . Also sign up for our newsletter, sign up for a one to one meetup and also our It'll Be Fun moving Abroad Program. They are all available on our website *www.itllbefunretirement.com* Get a FREE One to One meetup when you sign up for the Moving Abroad Program use code *FREE1To1* **
How I miss beautiful Madeira. Can't wait to go back.
It will be here when you get back!!!
You are not the only one, we miss it too.
Hi guys. Another beautiful video showing the other side of the island where I'm a bit rusty about it. More please. All the best for all of you.
Obrigado Rui. We absolutely love the island of your birth. You are a truly lucky man.
@@ItllBeFun Thanks guys. Hopefully, one day we also can enjoy the island the way you guys are enjoying. Enjoy as much as you can. Just remember, “Always leave it better than you found”.
And you know that we will. Have a wonderful day.
This family is living proof that you don't have to have to be worried and poor in retirement if you're not fortunate enough to have a million bucks in the bank.
They have shared their lifestyle and budget a million times on this channel. It's a great option if one has the courage to take the leap.
Thank you, Alan and family!
OMG! We love you!
You are so lucky to have been born into such a lovely family.
I feel like some Americans are buying too soon. I feel that one has to spend more time in a country in order to make sure that they love the place they're moving to.
Thank you for sharing your life with us.
I'm not going to deny it, you have a very valid point.
Obrigado Teddy,
We truly appreciate your kind words and support.
Have a wonderful day!
Hi Guys! A very useful video that will be of great help, particularly to people who first thought of moving here a few years ago. The updated information you provided will help them modify their budget to determine if the cost is still within their means. Great info! Cheers!
Cheers! Thank you for your support. You are correct. Times are changing but the dreams and plans don't have to end. Maybe change a bit...
Been seeing clips on wildfires there. Hope you are all safe and well. Great important video~I save them all for my future. Thank you for these!
Olá! Nice to hear from you. We are all safe. We waited a week to get out and drive around. However the other day we drove around the outside of the island. We saw the smoke but not the fires. Mainly because driving a 1970 Bug into a fire area is just silly. But we will show you what we saw in the video on Saturday.
@@ItllBeFun WOW scary stuff! Looking forward to it as always!!!!
Thank you for sharing my beautiful country of Madeira.
Your country is truly beautiful. Muito obrigado
Great video guys. We will see you in a couple weeks. Cheers Ron and Donna
Olá Ron and Donna,
Thanks for all of your support. We truly appreciate it!
Have a wonderful day!
See reports of the fires on Madeira, hope you are safe, praying for Madeira, no loss of life and a quick recovery for all!
Olá. Yes it is scary. We are safe and people that live in the are being evacuated.
Let us know which cover you like best!
The $3100 is for your family right? So a single person can expect maybe $500 less would you think? It’s food, entertainment, and meds that would be different I think. I’m just trying to get an idea for myself. Thanks for sharing ❤😊
Olá! The 3100 includes 500 for both Alan and Leslie a month for travel. The numbers are for a couple using 800 for a one bedroom apartment. So adjust for the price of your apartment and then remove 30%. If you had a 800 euro rental. Then about 2100 would make a very nice life.
If a couple earns say $36000 in social security income then they pay 37% Portuguese tax rate. After paying taxes they will only have about 22,000 for living expenses
You guys need to start talking about that.
Lower living cost there comes with a hefty tax pay.
I heard most expats bail out from Portugal once first 10 year 10% tax rate for NHR is over.
Olá Fred,
It's a graduated tax system. So while the taxes may be higher than the USA they may not be as bad as you think. It is best that each person work with a Portuguese tax professional. That way they can understand.
@@ItllBeFun thanks!! Bit more relived now😀
@@RS-cp5wc thanks. Not too bad considering lower living cost plus free healthcare in Portugal 👍
It really depends on the quality of life you are looking to create. Each of us factors and values things differently. It is so important to do your own research and find the perfect place for you.
You have to look at your total financial picture in order to determine if becoming a tax resident would work for you. I know for example that our taxes would be higher, and some purchases would be more expensive but we'd easily save 20k a year in health insurance/health care costs.
The Place is Beautiful, NO doubt. A little bit Expensive Now. Car Dependent, it seems. Some people might take that into Consideration.
Olá No you cannot
Thanks for all of your support. We truly appreciate it. As for the car, we think you will enjoy yourself more if you could purchase one. However the island offers bus passes so you really can easily get around easily.
Another informative video. Thanks guys x
Thanks for watching!!! We appreciate your support.
I live in Dubai and your living expenses were interesting to compare. Excluding accommodation rent, it is costing around €1000 a month less to live here, €1312 vs €2394. The rent for a 3bed townhouse is costing us €1458 per month, but that does include gym, pool, boating lake, sports pitches, and a water park, gate security in the cost. But we have different expenditures that probably make up a lot of the difference .
There is no personal tax here and IVA is 5% so Portuguese tax is looking like an elephant in the room, but anyone moving to Portugal should consult a tax planning specialist as there are some efficient ways of legally investing and paying very little tax.
But there is also the environmental quality. Madeira wins hands down with its lush sub-tropical vegetation and the very pleasant temperature range.
Despite the tax, which we are happy to pay our share, we will still be moving to Madeira to retire to once our home is built and we like your choice of Santa Cruz as it gives great value for money compared to the over rated property hotspots on the island.
I know you have had a poor experience of buying property in the past, but we concluded our purchase in less than 1 week after contacting the sellers agent, so experiences can vary.
Olá Russmoor,
Thanks for sharing. Actually we are very happy with our real estate agent and company. Any issues we spoke to had to do with the sellers and their agents
Can you post something about school, international as well as local. I have a 9 year old son, we are from India looking forward to Portugal. Also what about jobs in IT space here
Great content as usual!
Bom dia Miranda
Thanks for all of your support. It makes a big difference for us.
Have a wonderful day
Hello, wow amazing ya been there 3 years already, thank you for sharing ya experiences, time passes so fast, how much would it cost for health insurance if ya were citizens vs now , it was $500 then went to a $300 deductible, I assume it would go down but by how much, and are gonna stay the next 2 years to get citizenship
Olá jPuma
We actually already have public health cover. Which is covered by the taxes you pay on your everyday purchases. So other than small co-pays you pay very little extra. We choose to keep private coverage. It helps keep you from waiting for appointments or treatments. Hope that helps.
Come join our Patreon group www.patreon.com/itllbefun
Love reading your viewer' comments. Some based on gratitude for what you do and others hellbent on proving you wrong. Lol...As soon as I get this 68yr old hip replaced we're on our way to Madeira for a extended stay. We'd appreciate any contacts you might have for a 3 month stay and car rental.
We got you covered. Our trusted vendor list has our Madeira car rental company. They are wonderful to work with and local. As you know we work hard to support local companies. As for the three month rental. Send us an email.
www.itllbefunretirement.com
And thank you for reading and noticing the comments. They can be colorful and everyone is allowed to have an opinion.
Have a wonderful day!
@@ItllBeFun Thanks guys we'll but sure to contact your recommended car rental company! What if anything do you have in terms of a 3 mo. vacation rental ?
Send us an email
misleading - upper tax rates apply on moderate income, deductables are minimal value, and sales tax is 23%
We have a full write up on our website at Www.itllbefunretirement.com come join us. Thanks for watching and supporting our channel.
Not meaning to be too pedantic, but Alan is in Madeira where lower IVA rates apply compared to the mainland, and the Azores are even lower, and that applies to personal tax too.
It is best to contact a PT tax attorney and have your numbers run. Each of us receives our income differently and therefore get taxed differently.
i am a bilingual CPA by the way
What languages do you speak? Do you do just US taxes or do you take care on US expats taxes?
3100euros is stretchy. Only 1200 euros to rent a house seek idealista to set prices correct. And only 60 euros in gasoline that is not realist especially with your car
Thanks, we understand that you do not think it will work for you. However this is our actual costs and it works for us. Have a wonderful day!
Could you guys do something timely on the fires? Not looking for fear, just objective reporting.
Ola! We talked about that. While they are not a problem where we are..we have echosen not to hike or travel in the areas where they are. We feel it is more helpful to the people and teams that are working to get them under control.
We will however travel to the levadas in the area when they are under control and everyone is safe.
We will be able to show you the damage and the recovery of the plant material.
Hope this helps.
Have a wonderful day.
High Rents and real estate vs their income ..its a bubble
I wonder how many of the properties being sold or rented are actually owned by the Portuguese. That would be an interesting statistic to research...
@@ItllBeFun I've looked at about 10 properties (with Claudia) in the last 2 weeks, and I think only 1 was owned by a non-Portuguese. However, I'm not looking at high end properties, so maybe that makes a difference.
the cost of living has gone up everywhere .. there are few cheap places .. don't move to a place just because it is cheap .. that's the carrot being thrown around you tube to expats .. move because you want to move ..
Good advice.Thanks for sharing.
Wonderful video and great info.
Can you please tell how much is the cost of an apartment/ house as big as yours currently in Madeira . Thank you.
Olá! Thanks for watching and supporting our channel. Let's see that is really difficult to answer. In Funchal it would be 400k or 500k euros if all fixed up. If you can find one. As you go out lower 250 to 350k. A new one even more. Hope that helps.
@@ItllBeFun thank you so much for answering.
The hell with beard trims and hair cuts!! LOL Let me know how the hell to get out of California!!!!! :)
Olá WiL
It is pretty darn fabulous. Come take a look at the It'll Be Fun Ultimate Moving Abroad Program. www.itllbefunretirement.com
Thank you for this video. It gives one an idea of the basic cost of living in Madeira. It is encouraging for others interested in Madeira for a place of residency or an extended stay. Like your other videos have pointed out, everyone's situation and expectations are different. Nonetheless, this video gives a great framework for individuals to build on, along with additional research for their specific situation.
Olá Chris,
What a perfect way to sum it all up. Each of us can build a wonderful life, with a little planning and patience. Thank you for your support.
Have a wonderful day!
Great video! Can you share your health insurance company with me? Thanks!
Yes, we use Mgen.pt
Did you get your health care insurance at age 65 or earlier?
I have been told it is cheaper if you apply before age 65 and then the rates will not rise as fast as you age past age 65.
Did your pre-existing heart condition get covered?
Portugal still the cheapest country to live in Europe. A couple can live on 1500 euros per month easily
Yes, they can!!! We are proof
Haircuts Wolf, haircuts???? What about a haircut?? It won't hurt , I promise!!!!!!!!
Olá! How sweet you are. He had 6 inches cut off last month. It is sad that you don't like it. But there are plenty of men with short hair you can like instead.
Wolf looks awesome with his hair long. Why whine about another person’s choice ?
I like it as well.
I think jawaka was trying to be funny, not mean. 😊