Where to settle is always at the forefront of many conversations as the Baby Boomer generation reaches retirement age at an ever-increasing rate. There are many determining factors to consider when choosing a relocation destination to maximize your savings and minimize your stress. Assessments of your personality, personal, health and housing needs, your level of tolerance and adaptability to situations that do not always run smoothly, and your financial strength should be conducted to align a potential country and then a region within that country.
Panama continues to top the list of the best places in the world to relocate during your retirement years. So when you ask yourself, or should I say, when your friends ask, “Why Panama?” Better to be armed with 5 key “A” reasons to make the move.
Affordability – Depending on the lifestyle you choose to live, Panama offers a wide range of options. Regardless of the style you choose, it will still be less expensive than living in the United States or Canada. Housing, healthcare, utilities, and clothing can be had for a fraction of the cost. Fresh fruits and vegetables in season are in abundance at reasonable prices, and if you buy the local brand of your favorite food, you can save a lot more than buying an imported brand. For adventurous spirits, local transportation is a bargain, with bus fares starting at 30 cents. Taxi rides, depending on the number of passengers and the distance, can be obtained for as little as $ 1.25. You will definitely not spend so much money on clothes as you will not need seasonal changes, boots, jackets, gloves or hats, except a straw hat to protect you from the sun and to mask your “bad hair” days. (See my previous article titled 8 Startle factors …)
You can live comfortably for as little as $ 1,200 a month, which includes dining out a few times a week to take advantage of the 15-20% discount for women over 55 and men over 60, so don’t be afraid to ask nicely. so. (Law 6) Rents, public services and restaurants can have higher prices in Panama City. As a newcomer it is advisable to do your homework and double check and choose to rent for at least six months before buying.
Moving on, take special note of the next “A” before choosing your final destination.
Accessibility – Panama is an easy country to navigate with or without a car. The Pan-American Highway runs east to west from the Costa Rican border to Panama City and all other destinations branch off from there. My husband and I still get around by bus or taxi, and we manage to go where we want to go. Do you want to go to the beach? Your biggest problem will be deciding which beach. Looking to escape to the mountains? They are all around you. Ready to explore the sites? There is a world of attractions awaiting your exploration.
Here’s another part of this key “A” reason for moving to Panama. If you have to fly back home, Panama’s main airport, Tocumen, is a short 3-5 hour direct plane ride to most of the 10 US connecting cities.You will have plenty of time to sip your drink , eat your snack and watch the movie on board. This is a very important factor if you have family members you may need to return to quickly or personal medical appointments that you have scheduled in advance. There is no jet lag here as Panama is in EST or CST depending on daylight saving time in the US.
Affability – Panama is a very social country. In other words, there are many festivities that you can choose to attend. It seems that every time you look around, Panama is celebrating another holiday and each celebration lasts for several days, maybe even a week and ALWAYS with fireworks. In addition to Panamanian celebrations, there are active groups of American and Canadian expats who host very busy parties to observe Independence Day, Thanksgiving, Christmas, New Years, End of the rainy season, and any other reason to get together and socialize. . There are numerous online forums that will help you meet people to find others who share your interests. Forums are a great place to learn the dos and don’ts of transitioning. As a bonus, you’ll get acquainted with some of our more “colorful” and vocal experts. (Whoops, I mean expats)
Activity – There will be few opportunities to get bored in Panama. Boredom is not for me. The entertainment options are endless and include excursions and cultural and adventure activities in all parts of the country. There are the contemporary and colonial attractions in the two main cities, Panama and David; the pre-Columbian coastline of the province of Veraguas; the wild desert of Darien; beaches too numerous to mention; Excursions to the Panama Canal, a world-class jazz festival and rest days on the Amador Causeway; museums, concerts, cultural festivals and craft fairs; rainforests, orchid farms, farms, spas and mineral pools; visits to communities full of personality such as Coronado, El Valle, Penonomé, Las Tablas, Boquete, Volcán, Barú, Bocas del Toro and Colón; boat trips to the surrounding islands such as Taboga, Coiba, Isla Grande, John Wayne Island, the Pearl Islands, the archipelagos of San Blas and Bocas del Toro, the chain of Islas Secas, Morro Negritos and the islands of the Peninsula de Azuero, just to name a few. You can choose to fish, boat, yacht, snorkel, dive, surf, take part in a horse race or baseball game, visit an Indian village, ride horseback, raft, zip line, whale and dolphin watching, bird, hike, bike, jog, shop, go to zoos or enjoy restaurants offering a wide variety of cuisines. And if all of this isn’t enough, you can even spend your time and money at some of the smaller Las Vegas-style casinos. So if you’re wondering what to do with all your free time, the answer is explore!
Availability -The best thing about Panama is the availability of almost any service or product you want. With large grocery, clothing and electronics stores; health and personal care products; pharmacies, modern shopping malls, and office supply stores; clinics and hospitals; transport; communication and cable outlets; restaurants, fast food chains and ice cream parlors; outdoor markets; real estate; banks; schools; embassies and a country full of new friends waiting to welcome you, it will be a long shot that you will miss a lot after a while.
I must admit one thing. Just the other day, a friend pointed out two things she misses about the US: One is the crooked-necked yellow squash and the other is the cabbage. (She’s southern like me so I could relate)
Compare other countries to Panama and it will become very clear why this sun-kissed tropical paradise continues to top the charts as one of the most desirable retirement spots in the world.
