The Algarve region in southern Portugal is the most popular destination for retirees, and there are many British and American retirees settled here already. With a large English-speaking population, you'll feel quickly welcomed.
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Expats tend to flock to Portugal's bigger cities – particularly Lisbon and Porto. Both of these cities are renowned for their rich history, vibrant culture, and fairly relaxed lifestyle. However, smaller cities like Braga have their own charm and are popular with those seeking a quieter life.
The AlgarveThe main attraction for pensioners in Portugal is of course the stunning Algarve region on Portugal's southern coast. This region is filled with golden beaches and impressive cliffs and in recent years has been recognised as the 'most affordable option in Europe for retirees' by Forbes.
Some cons of retiring in Portugal include the slow pace of life, which doesn't suit everyone, bureaucracy and long waiting times, the need to carry cash, no central heating, and relatively low salaries compared to other European countries.
In Coimbra or Braga a couple could live quite comfortably on that same budget of around $1,600 per month. Living in Lisbon, Porto, or trendy areas of the Algarve is going to cost more, but in other areas you can easily have a nice, cushy life for $2,000—add another $700+ to that for an equivalent Lisbon lifestyle.
For a comfortable lifestyle in Portugal, you can get by with €1,200 as a single person or around €2,000-€2,500 as a couple. Note that in the capital, however, costs are more expensive, particularly rent.
Depending on your lifestyle, a couple should be able to get by with between $2,500 (€2,332) to $3,000 (€2,798) a month in Portugal outside the major cities. In major cities, particularly in the city center, expect to need a little more.