But in 2015, a family vacation in Lisbon, Portugal changed everything. We immediately fell in love with the city and decided to move there. So we rented out our house in DC and bought a two-bedroom, 1,300-square-foot apartment in Lisbon for $534,000. It’s been seven years since we moved in and we have no plans to leave anytime soon. The best part is that it is quite affordable to live here. The cost of living in Portugal is generally considered to be 46% cheaper than in the US Here’s a look at how I spend my time as a retiree:
Always learning something new
My days usually start with some investment research and project writing and end with immersing myself in Portuguese culture. Lisbon offers many learning opportunities at reasonable prices. A 30-class program in intensive Portuguese, for example, costs 190 euros at the Portuguese Connection Language School, which is just down the road from us. Lisbon offers many online learning opportunities at reasonable prices. Photo: Alex Trias When our 17-year-old daughter Evelyn is not in school, she takes voice and bass lessons at €21.75 per lesson and plays tennis at €27 per lesson. Noki recently took a three-day pottery course for €90.
Hiking in the mountains of Sintra
A 20-minute drive from Lisbon’s bustling city center, you’ll find sparsely visited hiking trails in the mountains of Sintra, a town perched high above Portugal’s coastline. “I hike for about two hours in the forests of Sintra. I also keep a respectful distance from the wild horses that roam freely.” Photo: Alex Trias Parking is free at Peninha Sanctuary, an abandoned chapel overlooking the ocean and rolling countryside, so I park there and take the downhill paths into the forest.
Lunch at the Campo do Ourique market
For fresh produce, fish and meat, it’s hard to beat shopping at the Mercado de Campo de Ourique food market. I often stop for an excellent meal at Noori, my favorite sushi stand, paired with a glass of white Portuguese wine from a wine bar called Garrafeira. Lunch at Noori, one of Alex’s favorite sushi spots, is only €14. Photo: Alex Trias
Coffee break at Bettina Corallo Café
Bettina Corallo specializes in two things: in-store roasted bean espresso and handmade chocolates. Zoom Icon Arrows pointing out Bettina Corallo is located in the Principe Real neighborhood of Lisbon. Its pink walls match the vibrant, eclectic buildings that surround it. Photo: Alex Trias For 9.75 euros we can buy 100 grams of 70% pure chocolate flavored with pepper and salt. We also like to enjoy the coffee’s €3 cappuccino and €1.2 espresso, made in a La Marzocco espresso machine.
Exploring the beaches of Portugal
Along Portugal’s extensive coastline on both sides of Lisbon, you can find sandy beaches and rocky ocean cliffs. I like to go to Guincho beach, which is about 30 minutes outside the center of Lisbon. If I’m not swimming, you can find me hiking, picnicking, or photographing wildlife. Guincho Beach is one of Alex’s favorite places to visit, especially on bright, windy days. Photo: Alex Trias
Exploring the historic center of Lisbon
Day or night, central Lisbon is a bustling city with plenty of atmosphere to enjoy. My walk starts on the waterfront, then over the hills of Lisbon and ends in the historic neighborhood of Principe Real — home to a hilltop park, botanical garden and some of the city’s best restaurants. Principe Real is the most cosmopolitan neighborhood of Lisbon. Photo: Alex Trias Sometimes we’ll go to A Cevicharia, which serves Peruvian-influenced ceviche made from fresh fish. Or we’ll eat at Tapisco, a classic Portuguese restaurant with dishes like Bacalhau à Brás, a traditional concoction of cod, potatoes and eggs.
Shopping at the farmers market in Principe Real
Príncipe Real is an upscale area known for its lively bars and trendy shops. There is also a farmer’s market every Saturday where you will find organic vegetables, artisanal olive oil, local honey, cheeses, dried fruit and homemade pickles. Zoom Icon Arrows pointing out At the farmers’ market in Principe Real, you’ll find dried fruit and homemade pickles. Photo: Alex Trias Prices tend to be very reasonable. You can pick up a bag of fresh lemons grown in the Algarve for €2 or a bottle of buttery olive oil for €8.50.
Fresh bread at Marquise’s bakery
Marquise is a fantastic bakery located near the national assembly building. I try to go in the morning at 9:00am when it opens and everything is hot and fresh. A loaf of bread in the Marquise bakery costs around 3 euros. But the real highlight is the magical focaccia for €2.50. Photo: Alex Trias Breads are baked daily on the premises with heirloom Portuguese flour. You can’t visit without trying the Portuguese classic Barbela loaf.
Drinks at Pavilhão Chinês in Bairro Alto
My favorite haunt in Lisbon is Pavilhão Chinês, or The China Pavilion, a timeless speakeasy behind an unassuming red door. Doll collections, WWII propaganda posters, clay pipes and other memorabilia line the walls of this speakeasy. Photo: Alex Trias My cocktail is a Manhattan, which costs 12 euros. And the decor is anything but traditional. eclectic objects adorn every centimeter of the space. You will often find me in the bar’s pool room.
Relaxing at home
Sometimes I’m just at home and relaxing with the family. Many evenings, Noki and I will head to the communal garden in our apartment complex to share a glass of wine. Alex and Noki spend their time in the communal gardens drinking wine, hanging out with the neighbors and enjoying the view of the Tejo River. Photo: João Esteves for CNBC Make It As we enjoy the cool breeze and watch the sunset, it always reminds me of how blessed and lucky we are. Alex Trias is a retired lawyer. He and his wife and daughter have been living in Portugal since 2015. He is the author of the “Investment Pancake” series on SeekingAlpha.com and has published nearly 500 articles on tax planning, investing, early retirement and where to find the best meals in Lisbon. Dont miss: Want to earn more and work less? Register for the free CNBC Make It: Your Money virtual event on December 13 at 12 p.m. ET to learn from money gurus like Kevin O’Leary how you can increase your profitability.
