Retirement Income

vincefandel · 2023-12-15T16:56:54+01:00

Explore how US citizens in Portugal access social security and retirement income. Learn about bank options for deposits and transfers.

vincefandel Member

Member since 07 December 2023

vincefandelMember15 December 2023 14:56:54

Are there any US citizens that have been living in Portugal over 6 months still receiving their social security benefits and other retirement income?聽

To that point: Do you have them directly deposited into a bank in Portugal or are those retirement funds deposited in a US based bank and then you draw from there or do you have them transferred to your Portugal bank?

bill85lisa Member

Member since 07 October 2023

bill85lisaMember15 December 2023 19:14:54

@vincefandel Vince...I sent you a private message.聽 We have our SS checks deposited to our U.S. bank and just move money from our Schwab brokerage account which is linked to our bank and then to a currency company in London where it's converted into euros and then wired to our Portuguese bank.聽 We originally moved a聽 decent amount (50K) into our Portugal bank to satisfy the D7 but to also have enough to live on for a year or two.聽