Early retirees on a quest to find our forever home!
We are Dianne, Guillermo and Che from the USA along with our Mexican souvenir, Buddy. We decided to retire early and embark on a worldwide quest to find our paradise forever home! We've created our checklist with 10 essential requirements that we use to rate each city we visit. We're documenting our experiences and sharing all the invaluable insights we discover along the way.
We moved from the USA to Guadalajara, Mexico in 2018 with Che and lived there for 3 years. Buddy joined our family in 2020 and in 2021 we moved to our new home base...Lisbon, Portugal. Join us on our mission as we explore and rate amazing cities around the globe to find the perfect place that captures our hearts and makes us say, "This is home!"
You can email us at [email protected]
Find us on other social media platforms below:
Instagram: instagram.com/seekingparadisebugs/
Facebook: facebook.com/seekingparadisebugs/
Пікірлер
Hi! This was wonderful and the timing couldn’t be more perfect! My husband and I just retired and we are on the global search for our forever home with our Golden Retriever. We are going to start with Dublin. I know you didn’t have your pups with you on your visit, but did it seem dog-friendly? Thanks for all your information! I will be spreading the word about your channel!
Congratulations on retirement! We definitely saw many people walking with dogs and through the parks. In general, all the places we've traveled in Europe are dog friendly. Safe travels and best of luck in your search! Let us know what you think about Ireland.
This might have some good information in it, but the sound quality is terrible, and that irritating background music makes it worse.
Thank you for your feedback. This is our first Q&A (podcast style) video and we are learning.
That was a ton of information packed into a 25 minute video. The onscreen summaries and bullet points were especially helpful in synthesizing the information. Thanks to your guests for their helpful info and thanks to you two for making a complicated subject really accessible. Keep up the good work!
Thanks so much for the positive feedback! 😍
Thanks for providing such detailed information in your video and the 20-minute consultation opportunity. I will indeed be getting in touch with them soon. I am a retired civil servant who also happens to be Latin American. I was previously considering Portugal to retire, even after NHR stopped; however, Spain's lack of taxation on my pension altogether is more enticing. Really appreciate the content and your channel!
Thank you, we appreciate you watching and commenting! Glad to help you with more options to plan a great retirement!! Wishing you the BEST!
Utilizing credit cards rewards is central to our plan. Along with living simply and protecting our health, this helps us travel in retirement.
We really wish we had used credit card rewards years before!!
I appreciate when you said you want to help your son out now when he needs it most and you can see him enjoy it. We are doing the same. Why make him wait until we die when him buying a house now and traveling with him now is way more important.
It gives us so much joy to spend time with him and know he's not struggling to pay for that precious time.
But before you buy a home in Portugal go see the islands of Portugal, Madeira ILAND close to North Africa , the ILAND is called the eternal spring, the garden of the Atlantic Ocean, the land close to heaven, …the names says everything
We have a video on Madeira. It is absolutely stunning and we loved it there!
My CFP is worth every penny he gets in commission! We are living the retirement of our dreams on a previous modest income.
Congratulations on living your best retirement life! Whatever works for you is the best way to do it! 😊
Love the info in the video, but find the background music to be very distracting.
Thanks for watching! Sorry the background music is distracting. This is our first Q&A (podcast style) video, we are learning what our viewers like and appreciate you commenting.
Can you share the email of the lawyers please. I am looking to move to Spain and have tax questions.
KZread will not let us share an email in comments but our link to contact them is prospainconsulting.com/main? . Best of luck with your move!
Not a good video with fair info. Could not listen more than 3 minutes.
Sorry you feel that way.
Unnecessary, annoying music !!!!
We understand it's not for everyone. Thank you for watching!
Very good Video! US public pensions are not subject to income tax directly from Spain, however you must add them to your taxable income in Spain which increases the progressive tax rates on your other income. Taxes and bureaucracy (such as taking 4 months and over 1000 euros to get a drivers license in Spain if you are from the US) are two of the very few negatives of moving to that beautiful country from the US.
Thanks so much. You are correct that you must add public pensions to your taxable income in Spain which increases the progessive tax rates on any other income you may have. Yes, we've heard obtaining the Spanish drivers license for US citizens can be rather aggrivating. Didn't realize it is that expensive too. Thanks for sharing!!
Thank you for the great information. I always enjoy your videos. The one thing that has always confused me is that I've read on some Spanish tax sites that a 401K and Traditional IRA are treated like a pension and are not subject to wealth tax (except for distributions). Roth IRAs are subject though as they are seen as bank accounts. I do plan on meeting with a professional at some point in the future in person and hopefully can clear up those details.
Thanks for watching!! We have seen the same thing and you will find that different tax professionals in Spain will give you different answers. Pro Spain advised that according to tax authorities criteria since these financial products allow for withdrawal at any time, the tax payer has a right of surrender similar to that which can occur in a life insurance policy so they will be considered for wealth tax. Additionally, tax laws change rather often in Spain, therefore, we prefer to consider that it will be subject to wealth tax and if it changes in our favor then it is the cherry on top to living in Spain.
Does placement with NALCAP qualify for the Beckam Law then? Thanks for the great info!
No, you are on a student visa and the stipend you get is considered a grant not a salary and therfore not taxed. However, you still have to file your US taxes.
@christinecleavest9099 Thank you! I'm guessing that Participating in NALCAP doesn't mean you can't get Beckham law later on bc you weren't a Spanish tex payer during that time then?
I've lived in Braga for almost 2 years as an immigrant from the US. You touched on a lot important topics to consider when choosing a city when scouting. Including the weather.I love cool, rainy, overcast days. The less I see that giant heat ball in the sky the better. 😊 I would also argue infrastructure here is better. Internet speeds are much faster in Portugal and more reliable compared to Comcast, Spectrum, etc.
Thanks for watching and glad to hear Braga's weather is perfect for you. We agree, internet speeds are faster and more reliable...good point!
For me this is my favorite to live if I was moving to Europe ….I didn’t make the move before Covid and my health took a dive! 🙁 …I wish I had invested on my younger years and had enough now at my age to make a big move but unfortunate I didn’t …Now it got too expensive for me and also still working….Bummer! …I enjoy your videos vey much !
Thanks for watching! Sorry to hear your health took a dive and hope you are doing much better. It is definitely expensive in the Lisbon area of Portugal now!!
Use Celsius and metric please
Good point...we will work on that. We are getting better with it personally now after living outside of the USA.
I have spouse visa as my wife has a working visa. I'm working for canadian company as a remote contract employee. What will be my tax deductions for each month?
Thanks for watching and commenting! Unfortunately, we do not know the answer to give you based on your individual circumstances. Pro Spain Consulting would be happy to help you and is offering our viewers a complimentary consultation via the link in the description. 😊
how many rental properties you own?
Thanks for watching ! We currently own 3 properties.
Thank you for this informative video. My head id still spinning. I will have to revisit it a few times before it sticks 🙂
Thanks for watching and re-watching! 😊 We are working on a follow up Q&A video with Pro Spain Consulting that may offer additional information or clarification. We hope to publish it within the next week.
Solidarity/wealth tax was already renewed for 2024.... Wonder if this will ever go away.. Overall this seems like a very comprehensive review based on all my research...
We wonder also...at least the solidarity tax has a higher net wealth threshold than many of the different regions allowing an individual deduction of €3,700,00 for Andalusia and Madrid before having to pay tax. Murcia has also raised their wealth tax deduction to €3,700,000. Of course, Spanish tax laws are notorious for changing.
@@SeekingParadiseBugs Is that 3.7 mill for anyone. Folks on the NLV visa and others?? That being said, govt's like to be fed and aren't big at pulling back taxes that feed them...
Good video, tx for that. So daytrading is capital gains with maximum 28% tax or is it income tax?
Thank you! Great question and sorry we do not know the answer. We have already had our Q&A with Pro Spain and will be publishing the video soon. They are offering our viewers a complimentary 20 minute consultation if you reach out through our link in the description. 😊
Use `S` not `z` guys !!
Please let us know what you are referring to. We are always learning and want to correct ourselves.
With the 10 year NHR waiver in Portugal, why would you consider moving to Spain until that is terminated?
Great question! We're not necessarily considering a permanent move immediately but we are considering purchasing a property in Spain and moving there eventually. Also, if we find that the taxes are not too onerous, we may move there sooner rather than later as the humid winters in Portugal are triggering my (Dianne) asthma. We're doing our due diligence now for financial planning regardless of our decision.
Hi guys!! Thank you for continuing to do these videos,,, your whole library is a keeper. We visited Spain and Portugal this past May and will be back again next year!! I hope you two have been doing well!!
Hi Crissa! Thanks so much. Yes. we've been good! traveling and working on videos. Get in touch when you visit next year 🤗
We thought about reaching out when we were there this past May… but thought we’d look like “fangirls/guys” lol. I have really benefited from your experience. We will for sure reach out next visit!!!
@Crissa1669 😅 we'd love to meet up next time. We appreciate meeting new friends
Thank you. Very informative. I get it. Spain wants to house the poor and disincentivize the middle and upper class from moving there. I'm out
As US citizens we are optimized for US taxes but Spain beckons to us. Best of luck!
Amazing, a well prepared and researched video. As a U.S. Military member potentially retiring in Spain or Portugal it is nice to hear that my pension is exempt from Spanish tax.
Thank you and thank you for your service! It is a very nice benefit to have if moving to Spain.
Excelente video. Mucha calidad y profesionalismo. Lo mejor que he visto en esta plataforma. Me suscribí ❤️
Muchas gracias! Nos alegra que le gustó. Hasta la próxima!
Cheers
Does this apply to capital gains from selling stocks as well? Will it be taxed both in US & Spain if we sell stocks?
Yes, it includes capital gains from the sale of stock as Spain taxes you on your worldwide income. If you are a US citizen you will also owe tax but due to the double tax treaty you will receive a credit so that you are not double taxed on the same income.
A very well detailed video and it shows that they are very professional. Long live Valencia. Sun and beaches of the Mediterranean. The Country of the Sun and very good food
A very well detailed video and it shows that they are very professional. Long live Malaga. Costa del Sol Spain. The Country of the Sun and very good food.
thank you so much! We feel the same way 🌞
Great video, thanks for this and all the work you do in these videos:). May I ask how old you guys are? I’ve been binge watching your other videos and was curious how old you were when you retired early. Thanks!
thank you! We are 53 (Dianne) and 50 (Gui) , retired 5 years ago and loving every minute 😊
I'm with you 100% on this one - nice place to visit, but not a place I'd want to live. Between the weather and the size, it's not for me, but I can certainly see why plenty of immigrants looking for a smaller, quieter, beautiful city would choose to live there. I REALLY love that restaurant promotion you ran into - that sounds so cool!
The Verde Cool restaurant promotion was a lot of fun! We went to cafes and restaurants that we would not have visited otherwise.
Super informative video of my home town. Well done guys :)
Thanks! 😃 We had so much fun and can't wait to come back to Dublin and explore the Irish countryside!
Excellent presentation. I crossed Spain off my list long ago.
Thanks!! Have you decided on another place?
I love your videos! They are all professionally done with great music like documentary films. Love Spain 🇪🇸 but its tax system is a killer. Americans already paid taxes on Roth 401k and Roth IRA But will be taxed again in Spain! LOCURA! 😢 Could you do a follow up video on the Spanish tax for example how to be a resident in Spain but a NON TAX RESIDENT in Spain. For example for EU citizens living in Spain less than 6 months not a tax resident therefore no ta burden to Spain. And enjoy the rest time in France / Mexico. Love México ❤ hablo español. Life is so easy in Mexico no tax burden with total freedom. Could you have your lawyer to clarify this in your follow up video - if a naturalized Mexican citizen would qualify for the 2 year fast track Spanish citizenship application. There are different opinions on this. The law is not clear. I am sure many people will be interested in this topic. Cheers 🎉
Thank you so much for the kind words! 😍 Great point about the 2 year fast track Spanish citizenship, we will definitely follow up on this. If you reside in Spain more than 183 days you will be a tax resident so you could definitely spend time in other countries and keep your time in Spain limited. Many Non-EU citizens that are second home owners in Spain do the Schengen shuffle to avoid obtaining residency and tax residency in Spain.
Braga has the best value for money in Portugal. The city is still not as expensive as Lisbon and Porto, but it has an excellent infrastructure. The city has the best public hospital in the country and a few more private ones. There is a great public university (Uminho) and a good private university (Catholic University). There are a few shopping centers, two of which are larger shopping centers (Braga Parque e Nova Arcada), but I still prefer to shop at the Continente supermarket in Minho Center in Fraião. KZread videos always show the Historic Center, but there are modern neighborhoods within a 30-minute walk. Transportation is good, but it stops around 10 pm. In Portugal, there is only a metro in the vicinity of Lisbon or Porto. The city does not have ocean beaches, but it does have river beaches. It's a 40-minute drive to Esposende beach or the mountains in the Peneda-Gerês National Park. The city is quite safe as it is a medium-sized city. There are several cultural events throughout the year such as Braga Romana (in May), the Feast of St. John (in June) and the White Night (in September). In the central region, the buildings are older, and many do not have elevators, parking spaces or heating systems. That's why I recommend the most modern neighborhoods to live in, such as Lamaçães, Fraião or Nogueiró. The most visited tourist spot is the Church of Bom Jesus do Monte. However, the best view of the city is a little further up the mountain to the Basilica of Sameiro. Another good tour for those who love football is to visit the beautiful Braga stadium.
Thank you so much for taking the time to comment with all of this great info!! This is so useful and relevant for people considering Braga to live or visit.
They have the best hospital??
I absolutely love Braga. I vacationed there not too long ago. I just love it!!!
It is a wonderful city!! Thanks for watching and commenting! 😊
Such great information! Great video!
thank you again!
My family and I are also considering Braga. Great video! Braga seems like a great place to live.
it is! it seems very family oriented, laid back and affordable.
Take a look at the great info @alessandrosilva4441 just wrote about Braga in the comments and best of luck!
Thank you very much for another very well-prepared and inspiring video. It's always a pleasure when you release new content - you guys are so likable 😊 If I had the financial means, I would choose to settle in Malaga or the area around the city. The unique vibe there is something I haven't experienced anywhere else. Based solely on your tour, I wouldn't choose Braga. The city is simply too small, and I think the weather would be too gloomy for me. But as a tourist destination, it is very tempting 😀 Kindest regards Erik
thank you so much Erik! you're so kind. Braga is a gorgeous city and we were very happy to share it with you all 🤗
thank you so much Erik! you're so kind. Braga is a gorgeous city and we were very happy to share it with you all 🤗
Great video 🎉 Spain is much more advanced than its poor cousin Portugal 😅
thank you! they each have their unique perks that we like 😊
.There are no expats, there are immigrants, whether from Africa, Britain, China, Argentina or the United States.
Unbearable to watch with so many ads
It is unfortunate, but it is not us putting up the ads, it's KZread. If you upgrade to the Premium version you get no ads. Thank you for the comment
Hello, any idea how to get an extension on the declaration de renta ? I am out the country and can’t fill out my tax forms due to my bank account not being linked to my NIE
oh I'm sorry, we don't know. Maybe you wanna reach out to Pro Spain Consulting in Spain to find out. I'm sure they will be able to direct you to the proper place to file your extension
Really informative, thank you both!
thank you for watching. Glad it helps
Great information to consider. Thanks guys!
Thanks for watching and look out for our follow up Q&A video with Pro Spain Consulting.