We are seeing the end of the tunnel and are thinking about where to go retire in the next 4-5 years (we would be under 40 by then). We are dual citizens with an EU passport and currently live in Switzerland. Switzerland is beautiful, but it's too expensive to live in without working, so we can't stay here. We don't have kids, an still haven't decided for sure whether we want any.
We've narrowed it down to a few options:
- Spain
- France
- Portugal
We prefer being secluded, don't enjoy having neighbours, and are pretty self-sufficient in terms of companionship and entertainment so we're looking for someplace where we could buy a decently sized plot of land with the next dwelling 300+ meters away from us. We'd then own a car for buying food/going to the train station for traveling. We've never owned a car, and don't enjoy driving, but we'd do it for errands/necessities; just not for leisure/tourism. We have bicycles for that!
We want the climate to be warm all year long (we're so done with Canadian winters for the rest of our lives!!) and while we would love to live by the seaside, we don't think this is realistic: these areas are usually overcrowded, pricey, and what about the ice melting potentially raising sea levels a few meters in the next decades.
We love good food, but we don't eat animal products. So seafood/milk/meat/eggs are not really relevant for us, but fruits, vegetables, spices are. I think the three countries we're considering are pretty good at having local sources for all these, and they'd be picked ripe because they don't have long to travel. We would also plant a garden to get our own food during the season.
We're aiming for 24-36,000$ yearly spend (incl. housing costs). We'd prefer to buy a house over renting because we want to customize the place to our needs.
I think all three places have social security and free universal healthcare with a good medical infrastructure so that's not a concern.
Tax-wise, it looks like France is much cheaper (around 5-7% for incomes below 24,000 yearly IIRC) when Portugal wants almost 20% for the same income. Not a showstopper, but something to consider. We will of course consult with tax/estate planners in Switzerland before retiring to structure our assets so as to minimize our tax liability, so maybe this would help alleviate that.
I know this forum is more US-centric, but I'm hoping there are also Europeans asking themselves the same questions and would be curious to get any input/thoughts/advice on our reasoning.