Cheers. Your responses are very appreicated.
Damn, that is FAT FIRE in Mexico! I think I spent about $1000 a month when I was in Mexico and Central America. But, the more I traveled, the more I tried to relax my standards and go cheaper and cheaper. By the time i hit southern Panama, I was spending $5 for a hotel room with bars on the windows and communal cold water prison showers (I think this hotel was the old jail). And I was trying to get it talked down to $3. :-)
We will have about $2500 a month. You definitely get much better deals by being on the ground. Online bookings typically cost me more, but somethimes they save the day. I used to go to the best hotel in town and ask for their rates. Freqhently you'd hear back $400 USD a night. Laugh and ask for a better deal, and the desk worker will frequently tell you about their cousin's 2-star hotel for $30 a night and make a call for you. Sometimes, I would poach their lobby wifi and go on Hotels.com or Booking.com and see what the best rate was for the same hotel, book a cheap room and roll right back up to the front desk at a third of what they just quoted.
I've just been looking on Air Bnb recently and seen only nightly rates in lots of places in Portugal, and no monthly discounts.
For example, on Schwab's checking account webpage I can click on the Account agreement link and then dig. When digging I find you must maintain a US residence for this account. It's not fun, but it's safer than hoping the bank doesn't close your account.
> Sometimes I think maybe I’m over analyzing it and maybe they just look at your net worth and say “Yes, this person has at least $15K to spend per year for a very long time.
You're probably right because Portugal, unlike Panama, doesn't demand your income to be in some sort of annuity. The earned or investment income is alright. I read it in a book I found on Amazon: https://www.amazon.com/Your-New-Life-Overseas-Portugal-ebook/dp/B072ST7M1J/ref=sr_1_6?crid=1K0RAO92O40BH&dchild=1&keywords=kathleen+peddicord&qid=1598128289&sprefix=peddicord+%2Caps%2C147&sr=8-6
Bought it with my Prime shipping credits. I don't know the answer to your second question because I believe that my $300K in cash will be enough. Anyway, I'm planning on visiting it when the pandemic is over and talking to some local attorneys who will advise me on those things should they desire to get my business. Then, I'll decide what to do. You can always do Roth laddering so your money will be available in 4-5 years and you can ask the lawyers that question too. Lots of things may change after the pandemic and after the future market crash so they can be much more receptive so don't overplan now.
It sounds plausible because I read about a similar plan in this book:
The Mexico Solution: Saving your money, sanity and quality of life through part-time life in Mexico
https://www.amazon.com/Mexico-Solution-quality-through-part-time/dp/B08QXDSLRY/
It’s an easy read and it has all of the info you need about how to get to where you want to go.
At least the Americans take sides. They choose their own side and build an agenda around that. The Swiss are a whole different level of immoral. The Swiss disguise their greed as "benevolent neutrality and love for peace".
In case you need sources, here are some leads:
https://www.amazon.com/Nazi-Gold-Fifty-Year-Swiss-Nazi-Conspiracy/dp/0060175354
and
https://www.reuters.com/article/us-swiss-secrecy-idUSKCN1MF13O
To summarize why I think the swiss are the scum of Europe:
“We must take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented. Sometimes we must interfere. When human lives are endangered, when human dignity is in jeopardy, national borders and sensitivities become irrelevant. Wherever men and women are persecuted because of their race, religion, or political views, that place must - at that moment - become the center of the universe.” -- Elie Wiesel
Wise? (Formerly Transferwise)
I don't understand exactly what your banks are capable of, but lots of folk use Wise to transfer money internationally with low fees.
They have a fee calculator that's easy to use Here.
(They also offer some sort of multi-currency accounts that might be of interest, but I don't know anything about those :)
There are probably advisors locally who specialise in expats in your tax situation.
The currency doesn't really matter, you just need to invest in the stockmarket, and you will own a bunch of assets irrespective of what the exchange rate does.
I advise you to read Tim Hale's <em>Smarter Investing</em> before you pay for an advisor - don't pay for investing advice, pay for tax advice.