Hopefully this isn't a duplicate of a posting in another thread. Judging by posts I've read on the forum, a few people are thinking of retiring in Europe. This recent article provides some information on good places to consider......
https://www.travelandleisure.com/trip-ideas/senior-travel/best-places-to-retire-in-europe
Unfortunately this is something that will never be an option for me.
You are not alone, Ken. Single woman here. Can't meet guaranteed income requirements (though I can live and travel quite on same budget😊. Go figure)
Some of these places are highly touristed, and I am not sure I would want to be part of that, but one could be in the burbs or a train ride away and still have these benefits at your doorstep.
I will say, with retirement this summer and the plan to travel months on end, I have been reviewing retirement and expat websites to get some different insight on country's regions for 1-3 months stays. (Then I head to birdwatching sources to see what's in a similar area). I don't want the coffee scene or meet ups, but I expect the knowledge I can hear English or see something familiar may be welcome at some stage. Also knowing what safety and healthcare is like also helps.
Thank you for that. I saw my Budapest on the list. I enjoyed that. I bought an apartment there about 15 years ago. It will be my part time retirement some day (airbnb till then). But there are a few factual errors in the article about Budapest so while its a fun read, if anyone gets serious you might want to check with a local immigration attorney. But for those with fixed income, the income requirements were pretty low and housing is inexpensive and yes, living in the burbs is the way to go and then hop the tram to city center for the restaurants and wine bars and theater and ..... Beautiful place.
The article is more useful for short term rentals of less than 3 months. It doesn’t cover the cost of buying property (very expensive in the Algarve for example) or the tax position - for example if you own a property in Spain, you pay a wealth tax based on its estimated value.
We looked into a number of countries when Brexit was voted for and other than Portugal with its 10 year golden visa, we would be considerably worse off in France, Spain and several other EU countries than in the U.K., which has a low tax regime.
The cost of living on the Algarve is about the same as the U.K. other than wine, which is cheaper there! It was cheaper 10+ years ago. Cars and fuel prices there are more expensive than the U.K. Bordeaux wouldn’t be my destination of choice in France either.
Yeah, if you're looking to stretch your retirement $, the Algarve is not the place. But plenty of other spots in Portugal are, and from the reading I've done, they seem to be one of the easier places to establish yourself, with no taxes for ten years.
For our future, I see us bouncing around more, not tied to one spot/country. It seems that as more countries join the EU, I assume that the schengen restrictions will go with that. So you won't be able to duck out to Croatia while you're resetting your '90 day clock'.
My wife is eligible for Irish citizenship, she just needs to get her paperwork in order. She doesn't want to do it until retirement as she has a security clearance for work. I really doubt that would impact it, but after 35 years I know not to argue that point.
bdokeefe, timing and location have a lot to do with it. When I bought my first place in Budapest (near the opera house) it cost less than my Ford. Now, well now I couldn't afford that one, but a little further down the tram line, still about the cost of my new Ford. Of course these are closer to European housing standards than US housing standards. Anything that meets US housing standards is considered high end luxury. For those that want to bounce around a bit, then you find a place that is a discount airline hub. Again, Budapest worked out well for that; but there are other places that are just as good. $60 takes me to most of Europe East and West. Today if I were going to do it, I would look towards places like Montenegro. Freaking gorgeous from Adriatic to Dinaric Alps and very affordable.
Oh do keep in mind that the 90 Schengen Visa is only one form of Visa. You can get extended visas for a lot of situations but it isn't always easy and may require an attorney. After reading the Hungarian requirements for a long term visa I had pretty much decided it would have to be 3 months on and 3 months off. But last trip I met with an attorney that specializes in Visas and he told me otherwise. Never got to follow up as COVID hit.
I went to Israel - as an adventure - in my early 20's on a 6-month govt. program to promote immigration. The program was not well thought out and the experience wasn't ideal yet I discovered a spiritual connection to the country and locals were very friendly and encouraging back then, indeed most Israelis were either immigrants themselves (many many refugees from Europe and Arab countries) or were children of immigrants. I decided to make Israel my home. Looking back there were a number of underlying factors that I wasn't aware of that brought me to that decision. I made new friends quickly, many of whom were new immigrants like me, with few connections to locals.
I can't think of another country where integrating into the community would be nearly so easy - even here in Israel new immigrants have a rough time "breaking in" - parents connect with others through their kids' school, men through their army service (men under about 40 are required to do a short basic training and then reserve duty every year), adults through work, etc. Before thinking about uprooting yourself, consider what day to day life will be like. It's a heck of a lot different that being a tourist for a few weeks.
James- Good points. A good airport hub certainly is nice. We've been to Budapest twice, scheduled to return in November 2022. We've really enjoyed our time wandering the city. Anyplace with a good tram/subway that I can figure out gets high marks in the rating scheme. Nothing better than wandering until I'm lost, finding a tram stop and making my way back to a known point using my 24 hour pass, all while letting my feet rest.
Oh the things that you stumble upon. The more I travel, the less I plan. So nice when you don't have the pressure of, "I've got to see this now, I'll never be back!", switching to the mindset, 'this is pretty nifty, I want to return'. The longer stays allow you that mindset.
bdokeefe, you and I think an awful lot alike. I've found all sorts of wonders by accident and wandering till I am lost is always on the itinerary.
