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4 Reasons Portugal is Europe’s Retirement Haven

By U.S. News & World Report

Portugal’s Algarve coast qualifies as an ideal place to consider reinventing your life abroad in retirement. Live and Invest Overseas has named the Algarve as the world’s top retirement option for three years running.

The Algarve can be an attractive choice for single women who are making a move overseas alone. The big and long-established expat community is welcoming and supportive, and this is one of the safest spots in Europe and the world.

The Algarve is also a noteworthy option for anyone looking for a base from which to explore the Old World. Centuries ago, the Portuguese were exploration leaders. Today, a retiree in this country is ideally situated to follow in those footsteps.

Here are four more reasons Portugal, and specifically its Algarve region, is an appealing choice for anyone considering retirement in Western Europe:

1. It’s Europe. Not everyone is cut out for life in an emerging market country, and that’s ok. If you appreciate and prioritize first world infrastructure and old world culture, the developing world likely won’t work for you.

Likewise, not everyone is comfortable in the tropics. If hot and humid weather all year long isn’t your idea of an ideal climate, take tropical destinations off your list. Look instead to Europe, with its reliable electricity and internet, museums, cafes, history and more moderate climes.

Portugal is a very wired country. Highway tolls are electronic. You make government agency appointments online. Wi-Fi is everywhere. Living here, you’d never have to worry that your children or grandchildren wouldn’t be able to contact you in case of an emergency. In addition, the very reliable electricity and internet make Portugal a great choice if you need or want to supplement your retirement income. Living here, you could easily earn extra cash flow through a laptop-based enterprise.

When it comes to climate, the Algarve gets top marks. This is the sunniest coast in Europe, with moderate temperatures 12 months a year.

[Read: 15 Places to Retire in Europe.]

2. The cost of living is affordable. Many retirees, when considering options for where to retire overseas, take Europe off the list immediately, fearing that the cost of living in Europe must be out of reach. This is not the case in general, and is definitely not the case in Portugal. Europe can be affordable, especially right now, thanks to the U.S. dollar advantage. The dollar is stronger against the euro than it’s been in years.

In the main tourist areas of the Algarve, you can enjoy a glass of wine at an outdoor café for four euros. And if you take just a few steps off the tourist path, you can get that same glass of wine for one euro. Groceries are inexpensive if you buy local, and this region is home to many fresh fruit and vegetable markets. Imported items are more expensive.

[See: 10 Places to Retire on a Social Security Budget.]

3. The country welcomes foreigners. Tourism is important for Portugal’s economy. The country is known for year-round golf, fantastic beaches, good value vacations and friendly people. Europeans have always come to Portugal for holidays in the sun, but word is spreading and the net is expanding.

The government is actively encouraging visitors from around the world and has created visa programs to make it as easy as possible for people to come as tourists and perhaps to stay longer-term. It’s possible for a retiree to establish residency by showing a guaranteed income of as little as $1,000 at the current exchange rate.

[See: 10 Retirement Hot Spots in the U.S.]

4. You don’t have to learn a new language if you don’t want to. Because of the strong tourist infrastructure in the Algarve, almost everyone you meet here speaks at least some English. In addition, the British have been retiring to the Algarve for decades. It’s possible to live a rich and full life in this beautiful region without learning more than a handful of Portuguese words.

However, moving to a country where the language is new is an opportunity for personal growth and a chance to keep your brain active. Don’t be shy. You’ll find the Portuguese to be supportive and appreciative of any attempt to learn their language.

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group.

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4 Reasons Portugal is Europe?s Retirement Haven originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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