Benzinga - Retiring early and buying a dream home in Portugal — a country known for its warm climate, stunning coastline, and rich history and culture — can be a great way to start the next chapter of your life.
In 2015, Alex Trias, a retired attorney who lived near Washington D.C., did exactly that, according to a story he shared on CNBC.
While vacationing in Lisbon, Trias and his family fell in love with the city and decided to settle down, he wrote. The former attorney was 40 years old when he took an early retirement. At the time, he was financially stable since he had an investment portfolio that paid enough dividends to live on, he explained.
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“The search finally ended with a two-bedroom, 1,300-square-foot apartment in Bairro Alto, a neighborhood known for its great nightlife. As I left the place, I noticed a tile on the wall with an engraved quote from Fernando Pessoa, a Portuguese poet, that read: 'I know not what tomorrow will bring,'" Trias recalled.
“Those words felt like an invitation welcoming me and my family with open arms to a new adventure,” he wrote.
Trias said he purchased the 400-year-old Portugal apartment for $533,554, not including taxes and brokerage commission.
“We wired the first 10% down payment to the owner. Then we took out a new loan on our Washington, D.C. home that gave us $600,000 and paid for the rest of the Lisbon apartment in cash. We kept our U.S. home fully furnished and rented it out to subsidize our housing costs in both countries,” he wrote.
“Inside the 400-year-old building are common areas covered in historic blue and white tiles that date back 100 years. When you walk into our apartment, you can immediately appreciate why our building survived Lisbon’s great earthquake of 1755,” he added.
According to Trias, the family has attained dual Portuguese citizenship and have no plans to leave.
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This story is part of a new series of features on the subject of success, Benzinga Inspire.
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