😊An informative video. Did not realize that stray dogs and cats were a problem on the island. Thank goodness that there are kind-hearted people like you to donate.
Hello! Thanks for watching and for the kind feedback. There are dogs and cats without homes, or pets who have ran away. ( especially January during the fireworks- we are told) Some are chipped , others are not. The biggest problem is they are not neutered or spayed. Once found, the city or private charities do neuter them. The attitude towards animals is changing in the younger people so the at is great to see. Cheers! M&D
Great facial expression intro! And thanks for the info. Canada has become ridiculously expensive. I'm paying at least double or triple what you're paying on pretty much everything from groceries to car insurance to home electricity and heating. Pretty depressing. 😂 The main reason to leave though is three shootings in my neighborhood just last week and it's a supposed to be a safe, upscale suburb. There's too much crime in this country now. Was never an issue in the past where I live and it's gotten progressively worse over the last few years. See you soon!
Hello! We hear you! We felt the same about Canada. A lot of political division, violence and it just wasn’t going in the right direction. We are so happy that we made the decision to move here. It’s been amazing. Thanks for watching and we are so glad you find value in our content. Cheers! M&D
Hello Patrick! That was absolutely our pleasure to help out in a small way. There are many people/groups here doing so much more including neutering and spaying , re homing dogs and educating people. It’s something we care about and hope to help out more in the future. Thanks for watching ! Cheers! M&D
@@Track_Us_Down haha he does a great job. The poop emoji when you said doodoo was funny too! I hate editing!! So I would love my husband to do it for me 🥹
Hello! Thanks for watching and for the kind feedback. We don’t budget for monthly taxes. Our income tax is removed at source in North America. Cheers! M&D
Hello! Yes we will pay council tax on our property. There is an exemption for the first 3 years of one’s principal residence. We call it property tax. It will be between 300-400 € per year for our home. 🏡
Wow good content. Just stumbled on you two. Your lovely island has been on the list awhile. Spent most of a winter on the Algarve and Costa del Sol. Looking to escape Canuckistan too. Nearly time for your next financial report. Wish you both the best! Subscribed
Hello! Thank you so much for watching our video and we are glad that you’ve found value in our content! It sounds like you’ve spent time in several places here in Portugal. Absolutely check out this amazing island! Yes we will be doing another cost of living for 2025! Appreciate you being here and subscribing! Happy Holidays 🎄! M&D
Hello! Glad you enjoyed the video! We appreciate you being here. Please consider subscribing! 😃 It was an unconventional option for us as a teacher and police officer but it’s truly been amazing! 🤩! Cheers! M&D
I subscribed a while back and have watched probably most of your videos. One of my favorites was the one where you drove all around the island. Madeira is still on my retirement radar. Appreciate all the insights!@@Track_Us_Down
Hi Doug & Monique, thank you for this yearly update on the costs. We will definitely keep watching to make a decision about where to retire when we are ready - hopefully in a couple of years! Please post a video about the NHR program ending's effect on the costs, especially on the real estate.
Hello! Thanks for watching and we hope you’ll consider subscribing. The NHR tax scheme has ended ( maybe to be replaced by ???) and we are keeping an eye on real estate prices. We have heard not surprising that there is somewhat less demand from Americans, however Europeans are still coming, also others who didn’t care about NHR only purchasing Holiday homes… so we will keep watching. Cheers! M&D
Thank you for bringing up the issue of stray dogs on Madeira. My wife and I were born in Portugal and living in Canada. I encourage animal lovers to visit the SPCA Animal shelters anywhere on Mainland Portugal or the islands and make a donation or consider adoption if possible. Hopefully we can make a more positive change for our 4 legged friends in Portugal.
Hello! Thank you for watching and for your amazing suggestion! It’s encouraging to see younger people’s attitudes towards animals changing here and there are organizations going into schools and rescuing and spaying and neutering animals. Many expats are helping as well and adopting! The two strays we found both were adopted and the new owners send me pictures and it makes my day. We will join you in encouraging visitors to make a donation and help an amazing cause. We appreciate your thoughts. Cheers! M&D
Living winters in the Caribbean on the Island of Montserrat…. Thinking of retiring year round. No heating … good climate can grow things year round once you get over the learning curve. Can meet many people easily. Peaceful place. 4500 population.
I had to watch this video because (in addition to loving you and wanting to be supportive of course!) I was curious to see your cost of living comparison because it's such a hot topic! I know people are really interested in this. I have been meaning to do a similar video. It's so interesting to hear about your activities and social things. How fun to play tennis overlooking the ocean and pay only €1! Great video! Very interesting and well done ... it's great to hear that the cost-of-living is so low! 👍 XX Dara
Hello Dara! Thank you so much for watching and supporting the channel. We appreciate it! Yes it’s always fun to see how other people spend their money and what the cost of living is in different location. Cheers! M&D 💕
Thank you for sharing your experiences! How much different would a 12 month avg cost of living look like vs just January? How much do you budget for travel to off-island destinations, hosting family & friends visits to Madeira, and tax preparation services?
Hello! Thank you for watching and for your comment. January is a regular month so it would be indicative of an average month. When our boys are here, or guests and we are doing more touristy things and more restaurants the cost would be higher. We have videos about travel to the mainland and Africa and costs. The flights are usually very affordable under 150£ return per person and usually much, much better than that. Flights to North America are of course more. We have explored home exchange and also we often get and Airbnb . Tax prep is very reasonable if your tax situation is straightforward. Cheers! M&D
Valuable information as always. You didn't reference taxes, and I know some expats don't because might indication personal income and investment information best left private. And taxes paid in Portugal are variable as well depending upon country of origin, duplicate tax treaty status, NHR membership, etc, But property tax, auto tax costs for me in Algarve is just under $500/year. 🤑
Hello! Thanks for watching and for your comment. We are NHR and there is a dual tax treaty with Canada. We pay a withholding tax in Canada and no tax for now, in Portugal. We do pay auto and house insurance, which we mentioned in the video, as well eventually house/property tax (council tax) which is approximately 300 -400€ per year. Pretty great! Cheers! M&D
@ Hey Monique, Doug - The buzz is that there is a new program that is replacing the NHR. And so the anxieties everyone including your truly, was having about the NHR going away are not applicable anymore. Is that true ?.
Hello! That’s “the word on the street”, as they say! Have not heard it officially in any way yet. So at this point , nothing concrete to report. We are in touch with our tax lawyer often and when we know more - our followers will know more. 😊 We know it’s important and timely. It’s been tough on a lot of people. Fingers crossed! Thanks for watching and for the great comment. Cheers! M&D
Hello! Thank you so much for watching our video and we hope you’ll consider subscribing! 😃Portuguese is tough. We have used apps like UTalk which we enjoyed and of course daily immersion! We will take formal classes in the fall. The motivator for us is citizenship! You can for sure get by with English! Cheers! M&D
Hello! Thanks for watching and for the comment. That’s a good idea! I’d say 7€ for a fast food lunch to 12€ for a dish of the day lunch with appetizer, main, wine and dessert. We can also share a pizza, salad and 2 beers under 20€. For dinner of course, depending on the restaurant- anywhere from 15€ - 25€ per person with all the courses , wine and coffee. ☕️ All depends! Hope that helps a little! Cheers! M&D
Hello Edward! Yes Madeira is perfect to retire to with a pension! Our taxes on our home are 350€ per year. Pretty great! You can watch our home tour and the following video about all our costs. Thanks for watching! Cheers! M&D
can you please cover tennis subject in more details? where to play ? where to live to reach tennis courts by foot or with minimal public transportation? where to find people to play with on Madeira? Thank you in advance!
🎾 Happy to help.. There are a few places to play tennis tucked around Funchal and the other towns on Madeira,, all very inexpensive to rent a court. My favorite place to play is Quinta Magnolia, centrally located and easy access in Funchal. The courts are stunning, from 2 main center courts, to 2 more stepped in the adjacent valley. Incredible environment to play in. My other favorite is right under the airport runway, in Machico. It's a big sporting complex, with 2 courts right along the gorgeous ocean, surrounded by massive concrete pillars holding up the remarkable concrete runway high overhead. During the week, it's only 2€ per hour. It's easy to find people to play, either via Facebook on "Madeira Expats" group, etc., or especially on WhatsApp - the "Tennis Madeira" chat group. You can mention your ranking/skill level, etc, and easily find compatible players. 🎾 Good luck!
Hello! We are happy to answer. This comment seems to appear on our cost of living video! Car- yes we have one, in terms of all the others- accommodations, fees , etc We have many other videos about properties and costs. If you have a further questions - let us know! We’ll do our best! Cheers! M&D
The utilities costs are amazing, but perhaps not all that amazing given the mild climate. Does your electric bill possibly show how much you save via the solar panels? Here in Indiana near Chicago, we now pay $75-85 per month for water, sewer, and trash/recycling pickup. Is trash pickup free there? Thanks again for the great content!
Hello Stephen! Thanks for watching! We can’t tell how much we save having solar panels. We are thinking of installing another- then we can maybe see how much more we pay. ??? There is no cost ( probably paid within council taxes ( property tax)) for garbage/ recycling. Cheers! M&D
If you are portuguese you need to work till 66y with a miserable salary and hope to be able to live after that with 65%of that miserable salary called retirement pension. if you are american with salaries of 200000plus per year, its easy
Hello! Thank you for watching and sharing your knowledge. We do know from our Portuguese friends what you are talking about. Even though we are not Americans, we do know most do not make that amount of money, struggle to save for retirement and have huge health insurance/ health care cost. You are correct that if one makes a very large sum of money- really anywhere in the world- retirement is much easier. Thanks for your input. Cheers! M&D
You are on point. This is parallel to a north American wage earners situation, who is hoping to retire before just dying at work. Cost of living makes retirement saving very difficult if not impossible for some.
Very helpful and informative video although I am getting to it late. I am curious when you applied for a D7 visa you had to provide documentation for a 12 month lease as part of the application process. You can no longer do an Airbnb to fulfill that requirement.how did the two of you find something to rent in Portugal while in the United States? Is it more challenging if you are looking for something that is also dog friendly? Thank you.
Hello! Thank you for watching and for your kind comment. Yes we only had an air bnb and a letter of intent to purchase/ rent when we applied for the D7. You are correct that no longer is acceptable. It ended just after us. You can work with a real estate agent to find a rental prior to your arrival and meet your D 7 requirements. If you would like our real estate contact to begin that process- send us an email to Trackusdownbusiness@icloud.com Cheers! M&D
Hello! It’s quite expensive and we wouldn’t recommend it. Part of living a better second half of life is letting go. We’ve done a few videos on downsizing, photographing momentoes and things and digitizing photo albums. It’s truly freeing. Some have shipped from the USA, it’s a lot of money, sometimes they ask for more money en route, it arrives much later than promised and is expensive and a pain to store it here if you can’t claim it immediately. Most people have said the eu regretting doing it! Thanks for watching ! Cheers! M&D
I have been binge watching your videos! great work! question... how much would be enough to retire in Portugal? Im 45 and Portugal is the place for us to retire but im worried I will keep moving the goal post... Ive been to portugal 3 times in the last three years but as you can imagine I lived "the tourist experience". Im curious if you know net worths of expats moving to Portugal. Thanks! Sal
Hello! It’s a pleasure to meet you! Thank you for watching our videos and we are glad that you find value in our content. As we reported we live a very comfortable lifestyle with 2000€ a month, owning our own home and being completely debt free. We could for sure spend more- more travel and toys- as well we could probably spend even less. It’s what works for us. We are living currently on one pension and not touching any of our investments or savings. We have no doubt that net worths among expats here vary. It all depends on your monthly cost of living and tax situation. Which we highly recommend you speak to a professional about. If your pension or investments or savings could cover 2k and you could purchase your own home here. You’d be fine. Hope that helps a little! Cheers! M&D
I have read that some have had difficulties getting rid of their contract with the internet company when they had to move. Have you encountered that OR know people who couldn't get out of their contract?
Hello! We had no difficulty with the internet company. We used Meo and moved our services to our new home. We also haven’t heard anyone having difficulties. We’ll keep our ears open ! Thanks for watching! Cheers! M&D
Good call on the healthcare. A major break from most of the US contingent, many of whom seem to think that paying hundreds of euro in private healthcare providers is absolutely essential. I think the "other category" is such a large component that it should have been broken down more. I do not know what you remembered to include or omit, beyond the things directly mentioned. For instance, did you budget for new phones, laptops etc every couple of years? Did you budget the cost of a new car every 10-15 years? I don't know. I assume for the former, you may have, but probably not the latter. Also, how about IUC costs? Was that included in transport?
Hello! Yes we notice a lot of Americans “ feel” the need to pay for healthcare or buy into the idea that private healthcare is better. Maybe they are just unsure of and uncomfortable with public healthcare .🤷🏻♀️ We have done many cost of living videos - sometimes we’ve gotten into detailed items in the other category. It’s just so different for everyone. The idea is for people to look at what we are spending and do their own numbers for all categories. Not sure what ICU is?? Thanks for watching and great comment! Cheers! M&D
Hello Edward! Most expats here did not take advantage of the Golden Visa. The advantage of that visa is simply you don’t need to live in Portugal and the time you own a property still counts towards citizenship. Most of us are here on a D7 visa and with that visa we have to live in Portugal a specific amount of time. I think it’s something like 8/12 months . Sorry I can’t remember exactly. It’s definitely most of the time. Thanks for watching! Cheers! M&D
So how much is private health insurance even if not used please mention it. I heard in Spain is $40 per month for private health. How much is in Portugal? Planning retirement there in 4 years
Hello! Here is a link to a whole Health care video we did with all the costs. ua-cam.com/video/YEh2flR1wvE/v-deo.htmlsi=D-qph9g0xQDIbt65 Thanks for watching! Cheers! M&D
Hello! Yes we remember spending the same or more with 2 teenage boys! When every week it’s $300 or more at Superstore…. You start thinking 🤔 this is crazy!! Thanks for watching and commenting. Cheers! M&D
Hello! Apologies for slow reply- we’ve been a little overwhelmed. Most retirees here are on a D7 visa . That’s also the visa we came here on. Thanks for watching and good luck to you! Happy Holidays 🎄! M&D
Hello! Yes a hidden Easter Egg! There was 💩 on the laptop, but not for the reason you think! 🤔 we don’t live a touristy lifestyle at all! The 💩 was because I said “ We do do a lot of….” And that was Doug’s message to me for my choice in words! Lol 😂 Talking to the camera is tough and sometimes words come out funny! 😄 We get a good laugh at ourselves. Thanks for watching! Cheers! M&D
@@Track_Us_Down we are good! Currently having our master bathroom torn out and remodeled. We had to move out of our bedroom AND bath. Thankfully we have two other bedrooms ... a T3? 😉
Is this guy the singer of swedish group Aha? Expensive rental on that island. better off on the mainland on beach near a small town. Do you pay 40-50% tax on any income streams these days? ty 4 vid
Hello! You think Doug looks like the Swedish singer from Aha? 🤷🏻♀️🤷🏻♀️🤷🏻♀️ Rentals may be cheaper on the mainland, maybe but the mainland isn’t Madeira! We have travelled all around and Madeira is still the most amazing place especially for weather. No we do not pay that tax rate at all on income streams. Thanks for watching. Cheers! M&D
Hello! No we didn’t mention taxes as that is something we don’t calculate or account for monthly. Our pension is taxed at source ( taxes paid upfront) and so what we receive is after tax. As we are on the NHR program here in Portugal and our money is taxes 15% at source, therefore because of the dual tax treaty it is not taxed again here in Portugal. Thanks for watching and commenting. Cheers! M&D
Well , we're not sure what's the trick , but my wife called my attention to you two She asked me to ask you both what's the trick you guys know that we don't since both are looking younger than the last time we saw you on UA-cam So , what's the trick?
Hello Raimundo! You and your wife are too kind. It must be the “ Blue zones” type lifestyle here on Madeira and happiness! Thanks so much for watching and for the kind comment. Cheers! M&D
Great video and super informative! As someone who is currently working in high finance 80 hours/week, I am physically and mentally exhausted every single day and looking to retire early in Portugal. If you dont mind me asking, how much net wealth did you have before you pulled the trigger and what source of income that support you guys there? Thanks
Hello! Welcome to our channel! We are glad you’re here. We know how you feel! Doug as a homicide detective, worked long hours and crazy overtime. Retiring in Portugal is for sure worth considering. You can check out all our cost of living videos as well as our home tour and home purchase videos, that will give you some idea of the cost. We retired here to live on Doug’s pension alone. Approximately 4K USD. That provides us the lifestyle we show on our videos. We are not touching our savings and my pension doesn’t kick in until I’m 55. We did come also with a little over 300k Euros to purchase a home and then that took care of the biggest monthly cost. We go over all the numbers in detail in those videos. Hopefully that can help you as you plan your own Better Second Half of Life! Thanks for watching! Cheers! M&D
Hello! We tell them in euros as the exchange rate fluctuates and it depends when you’re watching. We also think in euros now. As well, we are not American. Thanks for watching! Cheers! M&D
Hi, thank you for the informative video. Can you please share the real estate agents E-mail address? I would love to make contact about renting/buying. Thanks so much.
Hello! Thank for watching and sharing your thoughts. We are expats as we are here - for now- we have not immigrated to make a live, work and raise a family. Just saying.
@@Track_Us_DownThis is a semantic difference that only really exists in English. If you move to a foreign country to live and hopefully pay taxes there, then you are an immigrant. There is nothing wrong with being an immigrant. You show up in Portugal’s migration statistics…
😊An informative video. Did not realize that stray dogs and cats were a problem on the island. Thank goodness that there are kind-hearted people like you to donate.
Hello! Thanks for watching and for the kind feedback. There are dogs and cats without homes, or pets who have ran away. ( especially January during the fireworks- we are told) Some are chipped , others are not. The biggest problem is they are not neutered or spayed. Once found, the city or private charities do neuter them. The attitude towards animals is changing in the younger people so the at is great to see. Cheers! M&D
Great facial expression intro! And thanks for the info. Canada has become ridiculously expensive. I'm paying at least double or triple what you're paying on pretty much everything from groceries to car insurance to home electricity and heating. Pretty depressing. 😂 The main reason to leave though is three shootings in my neighborhood just last week and it's a supposed to be a safe, upscale suburb. There's too much crime in this country now. Was never an issue in the past where I live and it's gotten progressively worse over the last few years. See you soon!
Hello! We hear you! We felt the same about Canada. A lot of political division, violence and it just wasn’t going in the right direction. We are so happy that we made the decision to move here. It’s been amazing. Thanks for watching and we are so glad you find value in our content. Cheers! M&D
For most of my life, I could never think of moving and living somewhere other than Canada.... but now ?!?!?!
@@Track_Us_DownWhat direction do you want Canada to go in ?
Totally agree
Hello Guys. We loved the dramatic introduction. Yes, the prices are going up and up.
Hello Rui! Thanks for watching and for your fun 🤩 comment! We had a good time making the video! Cheers! M&D
Thanks for rescuing the dogs!
Such a good thing to do. 🐕
Hello Patrick! That was absolutely our pleasure to help out in a small way. There are many people/groups here doing so much more including neutering and spaying , re homing dogs and educating people. It’s something we care about and hope to help out more in the future. Thanks for watching ! Cheers! M&D
Love the year over year comparison. Well done! Obrigado!
Hello Chris! Thanks for watching and for the kind comment. Cheers! M&D
OH, YOU GUYS COULD NOT HAVE SHOSE A BETTER PLEASE ON EARTH. 🙏🌎♥️✨️😂🇵🇹
Hello! Thank you so much for watching and for your kind comment 💕 Cheers! M&D
Doug, nice edit on the "cooking at home" comment 😂
Hi! Yeah Doug and his editing! Want to go halfsies on an editor? lol! 😂 M
@@Track_Us_Down haha he does a great job. The poop emoji when you said doodoo was funny too! I hate editing!! So I would love my husband to do it for me 🥹
Another great video!! What was left out though was income tax ... You need to factor that into your budget calculation; my two cents.
Hello! Thanks for watching and for the kind feedback. We don’t budget for monthly taxes. Our income tax is removed at source in North America. Cheers! M&D
Thank you for this video Doug and Monique. Do you pay municipal tax? If so what is the range? Is it paid monthly or yearly?
Hello! Yes we will pay council tax on our property. There is an exemption for the first 3 years of one’s principal residence. We call it property tax. It will be between 300-400 € per year for our home. 🏡
Hello D&M. Thanks for sharing this information. We appreciate it very much. Blessings.
Hello Diana! Thanks as always for watching and for the kind words. Cheers! M&D
Wow good content. Just stumbled on you two. Your lovely island has been on the list awhile. Spent most of a winter on the Algarve and Costa del Sol. Looking to escape Canuckistan too. Nearly time for your next financial report. Wish you both the best!
Subscribed
Hello! Thank you so much for watching our video and we are glad that you’ve found value in our content! It sounds like you’ve spent time in several places here in Portugal. Absolutely check out this amazing island! Yes we will be doing another cost of living for 2025! Appreciate you being here and subscribing! Happy Holidays 🎄! M&D
Very helpful, thanks! Such an interesting option for retirement.
Hello! Glad you enjoyed the video! We appreciate you being here. Please consider subscribing! 😃 It was an unconventional option for us as a teacher and police officer but it’s truly been amazing! 🤩! Cheers! M&D
I subscribed a while back and have watched probably most of your videos. One of my favorites was the one where you drove all around the island. Madeira is still on my retirement radar. Appreciate all the insights!@@Track_Us_Down
Hi Doug & Monique, thank you for this yearly update on the costs. We will definitely keep watching to make a decision about where to retire when we are ready - hopefully in a couple of years! Please post a video about the NHR program ending's effect on the costs, especially on the real estate.
Hello! Thanks for watching and we hope you’ll consider subscribing. The NHR tax scheme has ended ( maybe to be replaced by ???) and we are keeping an eye on real estate prices. We have heard not surprising that there is somewhat less demand from Americans, however Europeans are still coming, also others who didn’t care about NHR only purchasing Holiday homes… so we will keep watching. Cheers! M&D
Another great, informative video! Thank you!
Hello! Glad you enjoyed it! Thanks for watching! Cheers! M&D
Thank you for bringing up the issue of stray dogs on Madeira. My wife and I were born in Portugal and living in Canada. I encourage animal lovers to visit the SPCA Animal shelters anywhere on Mainland Portugal or the islands and make a donation or consider adoption if possible. Hopefully we can make a more positive change for our 4 legged friends in Portugal.
Hello! Thank you for watching and for your amazing suggestion! It’s encouraging to see younger people’s attitudes towards animals changing here and there are organizations going into schools and rescuing and spaying and neutering animals. Many expats are helping as well and adopting! The two strays we found both were adopted and the new owners send me pictures and it makes my day. We will join you in encouraging visitors to make a donation and help an amazing cause. We appreciate your thoughts. Cheers! M&D
Living winters in the Caribbean on the Island of Montserrat…. Thinking of retiring year round. No heating … good climate can grow things year round once you get over the learning curve. Can meet many people easily. Peaceful place. 4500 population.
Hello! Well that sounds interesting ! Thanks for watching and sharing your experience. Cheers! M&D
I had to watch this video because (in addition to loving you and wanting to be supportive of course!) I was curious to see your cost of living comparison because it's such a hot topic! I know people are really interested in this. I have been meaning to do a similar video. It's so interesting to hear about your activities and social things. How fun to play tennis overlooking the ocean and pay only €1!
Great video! Very interesting and well done ... it's great to hear that the cost-of-living is so low! 👍 XX Dara
Hello Dara! Thank you so much for watching and supporting the channel. We appreciate it! Yes it’s always fun to see how other people spend their money and what the cost of living is in different location. Cheers! M&D 💕
Love your life ❤Thank you♥️Greetings from beautiful Seattle.
Hello Seattle! Thank you so much for watching and for your kind comment! 🩷Cheers! M&D
Hi Doug and Monique!
You are a lovely couple.
Good information. Thanks for sharing ❤
Hello! Thank you so much for watching and for your kind words. Cheers! M&D ⭐️
@@Track_Us_Down ❤️
Thank you for sharing your experiences! How much different would a 12 month avg cost of living look like vs just January? How much do you budget for travel to off-island destinations, hosting family & friends visits to Madeira, and tax preparation services?
Hello! Thank you for watching and for your comment. January is a regular month so it would be indicative of an average month. When our boys are here, or guests and we are doing more touristy things and more restaurants the cost would be higher. We have videos about travel to the mainland and Africa and costs. The flights are usually very affordable under 150£ return per person and usually much, much better than that. Flights to North America are of course more. We have explored home exchange and also we often get and Airbnb . Tax prep is very reasonable if your tax situation is straightforward. Cheers! M&D
Valuable information as always. You didn't reference taxes, and I know some expats don't because might indication personal income and investment information best left private. And taxes paid in Portugal are variable as well depending upon country of origin, duplicate tax treaty status, NHR membership, etc, But property tax, auto tax costs for me in Algarve is just under $500/year. 🤑
Hello! Thanks for watching and for your comment. We are NHR and there is a dual tax treaty with Canada. We pay a withholding tax in Canada and no tax for now, in Portugal. We do pay auto and house insurance, which we mentioned in the video, as well eventually house/property tax (council tax) which is approximately 300 -400€ per year. Pretty great! Cheers! M&D
I would love to take a vacation there !
Hello Robert! Absolutely plan a holiday to the island. 🏝️ Promise it will not disappoint! Thanks for watching and commenting. Cheers! M&D
@ Hey Monique, Doug - The buzz is that there is a new program that is replacing the NHR. And so the anxieties everyone including your truly, was having about the NHR going away are not applicable anymore. Is that true ?.
Hello! That’s “the word on the street”, as they say! Have not heard it officially in any way yet. So at this point , nothing concrete to report. We are in touch with our tax lawyer often and when we know more - our followers will know more. 😊 We know it’s important and timely. It’s been tough on a lot of people. Fingers crossed! Thanks for watching and for the great comment. Cheers! M&D
@@Track_Us_Down Thanks.
Nice video and also a nice YT channel. Congrats 🥳. Question: how are you dealing with portuguese language ? Thanks.
Hello! Thank you so much for watching our video and we hope you’ll consider subscribing! 😃Portuguese is tough. We have used apps like UTalk which we enjoyed and of course daily immersion! We will take formal classes in the fall. The motivator for us is citizenship! You can for sure get by with English! Cheers! M&D
A more helpful number for eating out would be cost per person per meal.
Hello! Thanks for watching and for the comment. That’s a good idea! I’d say 7€ for a fast food lunch to 12€ for a dish of the day lunch with appetizer, main, wine and dessert. We can also share a pizza, salad and 2 beers under 20€. For dinner of course, depending on the restaurant- anywhere from 15€ - 25€ per person with all the courses , wine and coffee. ☕️ All depends! Hope that helps a little! Cheers! M&D
@@Track_Us_Down³⁴⁴
This is great. We understand it's ideal for those of us in the Military with retirement benefits to move to Portugal. How much are home taxes?
Hello Edward! Yes Madeira is perfect to retire to with a pension! Our taxes on our home are 350€ per year. Pretty great! You can watch our home tour and the following video about all our costs. Thanks for watching! Cheers! M&D
very helpful
Hello ! Thanks so much for watching and we are glad you found value in the content! Cheers! M&D
can you please cover tennis subject in more details? where to play ? where to live to reach tennis courts by foot or with minimal public transportation? where to find people to play with on Madeira? Thank you in advance!
🎾 Happy to help.. There are a few places to play tennis tucked around Funchal and the other towns on Madeira,, all very inexpensive to rent a court. My favorite place to play is Quinta Magnolia, centrally located and easy access in Funchal. The courts are stunning, from 2 main center courts, to 2 more stepped in the adjacent valley. Incredible environment to play in. My other favorite is right under the airport runway, in Machico. It's a big sporting complex, with 2 courts right along the gorgeous ocean, surrounded by massive concrete pillars holding up the remarkable concrete runway high overhead. During the week, it's only 2€ per hour. It's easy to find people to play, either via Facebook on "Madeira Expats" group, etc., or especially on WhatsApp - the "Tennis Madeira" chat group. You can mention your ranking/skill level, etc, and easily find compatible players. 🎾
Good luck!
You can cook for me while I'm there. 😋😁 Hope to see you in April.
Hello Rita!! Ha ha! Thanks for watching and for the fun comment! Cheers! M&D
Car? Would love to know more about the accommodations and amenities. Yard, pool, grill, laundry, maintenance fees, etc.
Hello! We are happy to answer. This comment seems to appear on our cost of living video! Car- yes we have one, in terms of all the others- accommodations, fees , etc We have many other videos about properties and costs. If you have a further questions - let us know! We’ll do our best! Cheers! M&D
The utilities costs are amazing, but perhaps not all that amazing given the mild climate. Does your electric bill possibly show how much you save via the solar panels? Here in Indiana near Chicago, we now pay $75-85 per month for water, sewer, and trash/recycling pickup. Is trash pickup free there? Thanks again for the great content!
Hello Stephen! Thanks for watching! We can’t tell how much we save having solar panels. We are thinking of installing another- then we can maybe see how much more we pay. ??? There is no cost ( probably paid within council taxes ( property tax)) for garbage/ recycling. Cheers! M&D
If you are portuguese you need to work till 66y with a miserable salary and hope to be able to live after that with 65%of that miserable salary called retirement pension. if you are american with salaries of 200000plus per year, its easy
Hello! Thank you for watching and sharing your knowledge. We do know from our Portuguese friends what you are talking about. Even though we are not Americans, we do know most do not make that amount of money, struggle to save for retirement and have huge health insurance/ health care cost. You are correct that if one makes a very large sum of money- really anywhere in the world- retirement is much easier. Thanks for your input. Cheers! M&D
Hands up, how many Portuguese people earn $3500 euros a month? 😅
You are on point. This is parallel to a north American wage earners situation, who is hoping to retire before just dying at work. Cost of living makes retirement saving very difficult if not impossible for some.
Very helpful and informative video although I am getting to it late. I am curious when you applied for a D7 visa you had to provide documentation for a 12 month lease as part of the application process. You can no longer do an Airbnb to fulfill that requirement.how did the two of you find something to rent in Portugal while in the United States? Is it more challenging if you are looking for something that is also dog friendly? Thank you.
Hello! Thank you for watching and for your kind comment. Yes we only had an air bnb and a letter of intent to purchase/ rent when we applied for the D7. You are correct that no longer is acceptable. It ended just after us. You can work with a real estate agent to find a rental prior to your arrival and meet your D 7 requirements. If you would like our real estate contact to begin that process- send us an email to Trackusdownbusiness@icloud.com Cheers! M&D
Hello again! For short term rental it’s a bit more challenging to find dog friendly but easier for a long term 1 year lease.
I’m curios about how expensive it is to ship your belongings that you can’t part with. From US to Portugal
Hello! It’s quite expensive and we wouldn’t recommend it. Part of living a better second half of life is letting go. We’ve done a few videos on downsizing, photographing momentoes and things and digitizing photo albums. It’s truly freeing. Some have shipped from the USA, it’s a lot of money, sometimes they ask for more money en route, it arrives much later than promised and is expensive and a pain to store it here if you can’t claim it immediately. Most people have said the eu regretting doing it! Thanks for watching ! Cheers! M&D
What is your secret to retiring so young?
I love all your videos.
Thank you! ❤️🇵🇹
Hello! Thanks for watching and for the e kind comment. We will do a video answering your question. 🩷 We appreciate you being here. Cheers! M&D
I have been binge watching your videos! great work! question... how much would be enough to retire in Portugal? Im 45 and Portugal is the place for us to retire but im worried I will keep moving the goal post... Ive been to portugal 3 times in the last three years but as you can imagine I lived "the tourist experience". Im curious if you know net worths of expats moving to Portugal.
Thanks!
Sal
Hello! It’s a pleasure to meet you! Thank you for watching our videos and we are glad that you find value in our content. As we reported we live a very comfortable lifestyle with 2000€ a month, owning our own home and being completely debt free. We could for sure spend more- more travel and toys- as well we could probably spend even less. It’s what works for us. We are living currently on one pension and not touching any of our investments or savings. We have no doubt that net worths among expats here vary. It all depends on your monthly cost of living and tax situation. Which we highly recommend you speak to a professional about. If your pension or investments or savings could cover 2k and you could purchase your own home here. You’d be fine. Hope that helps a little! Cheers! M&D
Wow $2k! That’s inspiring… now we need to wait for the boys to be out of college and then move! 7 more years! Sweet.
I have read that some have had difficulties getting rid of their contract with the internet company when they had to move. Have you encountered that OR know people who couldn't get out of their contract?
Hello! We had no difficulty with the internet company. We used Meo and moved our services to our new home. We also haven’t heard anyone having difficulties. We’ll keep our ears open ! Thanks for watching! Cheers! M&D
Good call on the healthcare. A major break from most of the US contingent, many of whom seem to think that paying hundreds of euro in private healthcare providers is absolutely essential. I think the "other category" is such a large component that it should have been broken down more. I do not know what you remembered to include or omit, beyond the things directly mentioned. For instance, did you budget for new phones, laptops etc every couple of years? Did you budget the cost of a new car every 10-15 years? I don't know. I assume for the former, you may have, but probably not the latter. Also, how about IUC costs? Was that included in transport?
Hello! Yes we notice a lot of Americans “ feel” the need to pay for healthcare or buy into the idea that private healthcare is better. Maybe they are just unsure of and uncomfortable with public healthcare .🤷🏻♀️ We have done many cost of living videos - sometimes we’ve gotten into detailed items in the other category. It’s just so different for everyone. The idea is for people to look at what we are spending and do their own numbers for all categories. Not sure what ICU is?? Thanks for watching and great comment! Cheers! M&D
So now with Portugal not allowing the Golden Visa's then guess those of us from the US aren't able to relocate here?
Hello Edward! Most expats here did not take advantage of the Golden Visa. The advantage of that visa is simply you don’t need to live in Portugal and the time you own a property still counts towards citizenship. Most of us are here on a D7 visa and with that visa we have to live in Portugal a specific amount of time. I think it’s something like 8/12 months . Sorry I can’t remember exactly. It’s definitely most of the time. Thanks for watching! Cheers! M&D
So how much is private health insurance even if not used please mention it. I heard in Spain is $40 per month for private health. How much is in Portugal? Planning retirement there in 4 years
Hello! Here is a link to a whole Health care video we did with all the costs.
ua-cam.com/video/YEh2flR1wvE/v-deo.htmlsi=D-qph9g0xQDIbt65
Thanks for watching! Cheers! M&D
Thank you
Hello! You’re welcome and thanks for watching! Cheers! M&D
We spend $1200CAD monthly as a family of 5 kids under 12; on groceries. It’s crazy! 😢
Saving on groceries alone is worth moving. So happy for you both. Lovely lovely family 🥰
Hello! Yes we remember spending the same or more with 2 teenage boys! When every week it’s $300 or more at Superstore…. You start thinking 🤔 this is crazy!! Thanks for watching and commenting. Cheers! M&D
Same. Groceries in Canada are insane... Hopefully we evolve to survive on dirt 😂
What visa would you recommend to a US retiree trying to move there?
Hello! Apologies for slow reply- we’ve been a little overwhelmed. Most retirees here are on a D7 visa . That’s also the visa we came here on. Thanks for watching and good luck to you! Happy Holidays 🎄! M&D
Did I see a poop emoji on the laptop when Monique said they don't live a touristy lifestyle? 😂 Hidden Easter Egg?
Hello! Yes a hidden Easter Egg! There was 💩 on the laptop, but not for the reason you think! 🤔 we don’t live a touristy lifestyle at all! The 💩 was because I said “ We do do a lot of….” And that was Doug’s message to me for my choice in words! Lol 😂 Talking to the camera is tough and sometimes words come out funny! 😄 We get a good laugh at ourselves. Thanks for watching! Cheers! M&D
What is T2?
Hello Dara! A T2 is a 2 bedroom- no clue why? 😂 lol! That’s how it’s said! Ha ha! Hope all is well with you! Cheers! M&D
@@Track_Us_Down we are good! Currently having our master bathroom torn out and remodeled. We had to move out of our bedroom AND bath. Thankfully we have two other bedrooms ... a T3? 😉
Is this guy the singer of swedish group Aha? Expensive rental on that island. better off on the mainland on beach near a small town. Do you pay 40-50% tax on any income streams these days? ty 4 vid
Hello! You think Doug looks like the Swedish singer from Aha? 🤷🏻♀️🤷🏻♀️🤷🏻♀️ Rentals may be cheaper on the mainland, maybe but the mainland isn’t Madeira! We have travelled all around and Madeira is still the most amazing place especially for weather. No we do not pay that tax rate at all on income streams. Thanks for watching. Cheers! M&D
You didn’t mention income taxes?
Hello! No we didn’t mention taxes as that is something we don’t calculate or account for monthly. Our pension is taxed at source ( taxes paid upfront) and so what we receive is after tax. As we are on the NHR program here in Portugal and our money is taxes 15% at source, therefore because of the dual tax treaty it is not taxed again here in Portugal. Thanks for watching and commenting. Cheers! M&D
Wonder what NHR in Portugal is???
Well , we're not sure what's the trick , but my wife called my attention to you two
She asked me to ask you both what's the trick you guys know that we don't since both are looking younger than the last time we saw you on UA-cam
So , what's the trick?
Hello Raimundo! You and your wife are too kind. It must be the “ Blue zones” type lifestyle here on Madeira and happiness! Thanks so much for watching and for the kind comment. Cheers! M&D
Great video and super informative! As someone who is currently working in high finance 80 hours/week, I am physically and mentally exhausted every single day and looking to retire early in Portugal. If you dont mind me asking, how much net wealth did you have before you pulled the trigger and what source of income that support you guys there? Thanks
Hello! Welcome to our channel! We are glad you’re here. We know how you feel! Doug as a homicide detective, worked long hours and crazy overtime. Retiring in Portugal is for sure worth considering. You can check out all our cost of living videos as well as our home tour and home purchase videos, that will give you some idea of the cost. We retired here to live on Doug’s pension alone. Approximately 4K USD. That provides us the lifestyle we show on our videos. We are not touching our savings and my pension doesn’t kick in until I’m 55. We did come also with a little over 300k Euros to purchase a home and then that took care of the biggest monthly cost. We go over all the numbers in detail in those videos. Hopefully that can help you as you plan your own Better Second Half of Life! Thanks for watching! Cheers! M&D
Thank you so much for all the details! I know what videos to watch while having my dinner tonight :) Cheers!@@Track_Us_Down
ENJOY MADEIRA PARADISE. 🙏🌎♥️🇵🇹✨️😂😂😂
Hello! Thank you so much! 😊 Cheers! M&D
Whycdont any of these videod tell how much in u.s. dolors not everyone knows euros
Hello! We tell them in euros as the exchange rate fluctuates and it depends when you’re watching. We also think in euros now. As well, we are not American. Thanks for watching! Cheers! M&D
Centimes
Hello! Thanks for watching! Cheers! M&D
Hi, thank you for the informative video. Can you please share the real estate agents E-mail address? I would love to make contact about renting/buying. Thanks so much.
Hello David! Thank you for watching and please send us an email to trackusdown@icloud.com and we can share our contact with you! Cheers! M&D
If you move to another country, even as Americans, you are immigrants not expats. Just saying.
Hello! Thank for watching and sharing your thoughts. We are expats as we are here - for now- we have not immigrated to make a live, work and raise a family. Just saying.
@@Track_Us_DownThis is a semantic difference that only really exists in English. If you move to a foreign country to live and hopefully pay taxes there, then you are an immigrant. There is nothing wrong with being an immigrant. You show up in Portugal’s migration statistics…