ERE country : Portugal
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For inspiration and some underlying philosophy, a good place to start is with the books Jacob listed here:
http://earlyretirementextreme.com/my-li ... books.html
Some of these may appeal to you more than others. I also like Seneca:
http://www.tripinsurancestore.com/4/on- ... f-life.pdf
http://earlyretirementextreme.com/my-li ... books.html
Some of these may appeal to you more than others. I also like Seneca:
http://www.tripinsurancestore.com/4/on- ... f-life.pdf
Re: ERE country : Portugal
Yes...
I am searching new project to fullfill my days and my mind.
A new activity.
A new purpose of life.
It is not easy.
Thanks
I am searching new project to fullfill my days and my mind.
A new activity.
A new purpose of life.
It is not easy.
Thanks
Re: ERE country : Portugal
Me too searching for a new project...
You are still in Portugal?
What you work with?
You are still in Portugal?
What you work with?
Re: ERE country : Portugal
Read the book: "How to retire happy, wild and free". It is not just for retiring but also for living. It helped me a lot, especially with the following two techniques: Get-a-life-tree and Ultimate Life's Adventure List. You can google them as well.
Regarding your 500k€ you need. (Whats your number thread) --> You need Passive Income Streams which generate you income. Look for different portfolio asset allocations if you don't want to invest into the real estate business.
Re: ERE country : Portugal
[quote=liberty
yes
being so many years on same job, it is hard...
yes
being so many years on same job, it is hard...
Re: ERE country : Portugal
Could you change your job?
Another way could be to show your monthly costs, in order to try to give you some ERE-ideas or -inspirations.
Have you analyzed the Big3 already?
-Housing ... € p.month.p.Person
-Food ... € p.month.p.Person
-Transport/Mobility ... € p.month.p.Person
and what's about:
-Entertainment
-...
If you provide more information about your situataion, maybe there could be some improvements.
Re: ERE country : Portugal
Have I read that you need 500k€ to retire in Portugal?
I think you can do with much much less. I actually think the "7k/year" would be fairly easy in Portugal. Personally, my portfolio goal for retiring in Portugal is 10k€/year on a 4% withdrawal rate (WR), i.e. a 250k portfolio. It's a goal that I feel is quite feasible and keeps me motivated, however I don't plan to pull the plug immediately and plan to accumulate a bit more (to achieve a WR that is as low as possible).
Some of the reasons why I think it wouldn't be too difficult to manage with 7k/y:
I think you can do with much much less. I actually think the "7k/year" would be fairly easy in Portugal. Personally, my portfolio goal for retiring in Portugal is 10k€/year on a 4% withdrawal rate (WR), i.e. a 250k portfolio. It's a goal that I feel is quite feasible and keeps me motivated, however I don't plan to pull the plug immediately and plan to accumulate a bit more (to achieve a WR that is as low as possible).
Some of the reasons why I think it wouldn't be too difficult to manage with 7k/y:
- Housing is cheap in Portugal (except for Lisbon right now) and gets cheaper as you move away from the main cities. There's many beautiful small villages throughout the country where you could live cheaply (close to sea, mountains, or in the woods, there's a lot to choose from)
- Owing to the fantastic weather, it's really easy to grow stuff in Portugal, so if you're willing you can rely on agriculture for a sizeable chunk of your basic food needs (likely with leftover produce)
- It's cheap. A cup of great espresso in your average 'café bar' will cost you 0.65€ and you can have great meals for 5€ in modest places.
Re: ERE country : Portugal
Maybe because 4% WR is seen as too high.
I'm in Italy, which shares many of the pluses of Portugal (cheap, good weather and food, plenty to see and do by staying local...), and with our taxation, crazy bureaucracy and generally higher potential for instability I feel like we need more than 4%
I'm in Italy, which shares many of the pluses of Portugal (cheap, good weather and food, plenty to see and do by staying local...), and with our taxation, crazy bureaucracy and generally higher potential for instability I feel like we need more than 4%
Re: ERE country : Portugal
[quote=MDFIRE2024
I would say that to keep a good life we would need about 1.500 EUR
We can decrease some expenses and eliminate others and achieve 1.000 EUR / month.
All big items are paid, like house and cars.
I would say that to keep a good life we would need about 1.500 EUR
We can decrease some expenses and eliminate others and achieve 1.000 EUR / month.
All big items are paid, like house and cars.
Last edited by frugal on Sat Sep 30, 2017 10:32 am, edited 1 time in total.
Re: ERE country : Portugal
[quote=Josué
I think you are right.
But I am too
I prefer to have double what is necessary.
This is a good safety margin.
We never know what will be the return of our passive investments , correct?
What if the next 10 years we have a recession?
I think you are right.
But I am too
I prefer to have double what is necessary.
This is a good safety margin.
We never know what will be the return of our passive investments , correct?
What if the next 10 years we have a recession?
Re: ERE country : Portugal
you need more than 4% or more amount invested?
Re: ERE country : Portugal
[quote=frugal
Double of what is needed? "Safety margin", recessions etc is already taken into account in the SWR. A 3% SWR has worked all 30 years periods, even starting on the worst possible times, while 4% has worked 88% of the time. I suggest you use 3% SWR, without any additional safety margin.
What are your current expences? Housing, food, transport etc?
Double of what is needed? "Safety margin", recessions etc is already taken into account in the SWR. A 3% SWR has worked all 30 years periods, even starting on the worst possible times, while 4% has worked 88% of the time. I suggest you use 3% SWR, without any additional safety margin.
What are your current expences? Housing, food, transport etc?