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"Wealthy millionaire retires to foreign country"

• toomuchtodo 4y ago
  You can move to Portugal on a D7 visa with no more than €10k/year in passive, pension, or remote income for a single person. For a family of four, it’s closer to €20k/year. More income = improved housing quality and location, of course. Private health insurance (a visa requirement) for a year for a family of four was quoted to me at ~$1200. For the entire year. For comparison, I spend ~$18k/year for premiums and deductibles with an employer provided health plan. After five years, you can apply for citizenship and have free movement to all of Europe. Social Security income recipients, in many cases, meet that bar. Portugal also has a treaty with the US where earned income in Portugal can count towards your US social security earning record.
  • cableshaft 4y ago
    The couple in the article bought a home for €500,000 cash (no mortgage) and are making $130,000 a year just on dividends. You're probably right, but so is the parent. They're wealthy millionaires. According to this video[1], $1.9 million yielding 5.2% will give you $100k per year in dividend income, so they have to have even more than that invested. [1]: https://youtu.be/DWu3oU6dcBs?t=772 https://youtu.be/DWu3oU6dcBs?t=772
    • toomuchtodo 4y ago
      Point taken. There’s always nuance.
• larryett 4y ago
  "our portfolio of high-yielding stocks and mutual funds paid roughly $130,000 a year in dividends" I mean can you imagine? That would barely keep the wine cellar stocked let alone anything left over to afford original works of art.