Retire Early on $1404 Month in Porto Portugal

Retire Early $1404 Month Porto Portugal
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This is my Retire Early on $1404 Month in Porto Portugal for 2 people, including rent, utilities, food, and local transportation.


This is Dan of Vagabond Awake the Youtube Channel for Vagabond Buddha.  

I was last in Porto in December of 2018.  At that time, my cost of living table showed (link provided) a range of possible living costs of about $1000 to $1600 USD for the big three–rent, food, and local transportation.  That was my estimate range for one person.  

I will show you the pictures I took while I was in Porto as I discuss some adjustments to the cost of the living range that I think some people may be able to make. After I have discussed each living cost item, I will discuss how I get to the monthly total at the end.  

There is no reason to take notes.  If you listen to the end, I will tell you how to get a written copy of this information with links to everything I discuss.  

Rent Estimate Update

In my previous table (link provided), the rent was quoted in the table as $25 USD per month for a 1 bedroom apartment.  We found the place at the last minute on Airbnb and actually stayed there.  That rate included utilities and Internet.  The $25 USD per night multiplied by 30 days is $750 USD per month.  

But since that was an Airbnb apartment charging nightly, you should be able to easily beat that monthly rate by getting a 6 or 12-month lease.  Here is an example 2 story townhouse with loft bedroom that you can rent for about $450 Euros ($468 USD).  Your utilities with the Internet would be about $75 USD.  It is very near the metro so you could easily get into the central area in about 15 minutes.  

If you add $486 rent and $75 USD utilities, you would pay about $559 instead of $750 for your accommodations.  Here is an example apartment we found online to prove that savings.  It is right near a metro station and rents for $450 Euros per month on a 6-month lease.  It is a townhouse with a loft bedroom upstairs and a kitchen-living room downstairs.  Here s a photo in case the listing rents before you see this.  

Next, I will discuss the food costs.  But could you please like, comment, or subscribe if you are finding any value in this information?  You will help our business grow.  

Food Estimate Update

I checked the table and we actually spent at the rate of about $677 USD per month including both groceries and going out to one nice dinner per week. That includes 2 people.  

Whereas in the previous estimate table for one, not two people (link provided) we estimated 8 high-end meals per month at $15 USD per person, and 48 neighborhood restaurant meals per month at $9 per person, and 4 food carts per month at $7 USD per person.  That comes to a total of $580 per month for one person. 

So we estimated $580 per month for one person and we spent $677 per month for two people for food.  

So the food would need to be adjusted up by about $97 per month but that is for two people instead of just one.  Almost all of that savings is because we bought groceries and cooked at home.  That new estimate also includes packing lunches when we went into the city so we didn’t have to eat in the expensive restaurants.  

Next, I will talk about local transportation costs.  Did you know we have retire cheap in paradise information for over 50 locations in the world?  Visit Vagabond Buddha to find out more about that.  

Local Transportation Update

In our table (link provided) we estimated 20 Uber rides and 8 Metro rides per month totaling $110.80 for one person per month.  But we actually spent at the rate of about $168 per month for two people.  So there would also need to be an upward adjustment of about $57 per month but that would be for two people instead of one.  

I did not include one taxi ride we paid for in this updated estimate since it was a ride to the airport.  Presumably, you would not be going to the airport every single month if you stayed for the long term.  

Total Big Three

So the total for the big three, rent (including utilities), food, and local transportation for 2 people as compared to our estimates for one person is as follows.  

Item/Per month 2 people 6-month lease 1 person short term
Rent (include utilities) $559 $775
Food $677 $580
Loca Transportation $168 $108
Total $1404 $1590.80

This estimate only includes the big three–rent, food, and local transportation.  For a full estimate of what it would cost you to live in Porto, stop by Numbeo (link provided) and add anything you spend money on at home that is not in the table.  But that would still just be an estimate.  So never move anywhere until you have done an in-person site visit to verify what it would cost you to live there.  

Temporary Coronavirus Market

I check online and the market is much lower for Airbnb temporary rentals during the coronavirus.  Here is an example of a 1 Bedroom apartments airbnb that you can get for a full month for $460 USD including fees.  I have included a picture of the quote so you can verify the amount.  This is inside the central area so you can walk everywhere.  

Since we don’t know how long prices will stay low, I am not using the temporary low coronavirus price in my estimate.  

To get a written copy of this information, just click the More Information link in the notes below this video.  While at the more information link, get a free my free copy of my eBook, “How I Fired My Boss and Traveled the World for 13 Years.”  

This is Dan of Vagabond Awake, the Youtube Channel for Vagabond Buddha.  Thanks for stopping by.

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