IP,

I feel your pain (or at least your uncertainty). My comment, cash is king, is very over-simplified and dealt with what immediately would be beneficial in the event of a repeat, of say, the financial crisis of a couple of decades ago. That said, I have always (well, since the early 1970's at least) practiced a multi-currency form of diversification which has not damaged me financially and has tended to smooth out the bumps.

Something to consider as a proxy for cash (not as liquid and certainly more volatile as they follow the global economy) are the world's major miners (Rio Tinto, BHP, Vale, Newmont, etc. and some of the metal processors, such as Wheaton Precious Metals Corp. As long as mankind continues to "make stuff", these guys will do fine.

As in all waiting, waiting for a stock market crash takes patience and doesn't mean you stop breathing, but rather change one's portfolio balance (as well as mentally prepare for body blow to the breadbasket at some point - losing less is still losing).

I agree that Portugal is a great choice and a great environment. That said, both Lisbon and Porto are "vertical" cities with dramatic changes in elevation, so check your transportation options as it pertains to your locale (though Uber works well and is cheap in both).

Jeff