Panama Retirement – Best Decision
Are you entertaining thoughts about Panama retirement? Have you asked yourself why would you choose Panama as your retirement destination? Why you need to pull up your roots and relocate to a foreign country to live out your golden years? Why would you give up your friends and move to a country where you hardly know anybody for Panama retirement? Why would you adapt yourself to a different way of life, culture, climate and language for Panama retirement? Panama retirement is not an easy decision to make. You need to know the pros and cons. You must first educate yourself about the realities of living there. The best way would be for you to visit Panama and stay there as a tourist first, so you will know the country and its people.
Panama Retirement – Why choose Panama
Many retirees in Panama give the following reasons why they chose to retire to this country..
The cost of living in Panama is a lot cheaper than in the USA, Europe, Canada and other Latim American countries. For US$1,200 or $2,000. you can live there very well, with utilities, food, running car, full time maid and a doctor visit. Of course it will depend on where in Panama you would like to live, just like in the USA, where the cost of living varies from place to place.
You can get a decent housing in Panama that is more affordable than in USA, Europe and Canada for Panama retirement.
The Panamanian climate particularly the highlands is favorable to senior folks. In the city it can be hot and muggy, but a mountain ridge can give a spring-like climate. Some of the more affordable highland locations for Panama retirement are David and Boquete. You will experience cool nights and days here, unlike the city and the beaches.
Panama Retirement – Good Medical Facilities
Medical care is excellent, and can be compared with what you get in the USA. If you don’t have medical insurance, the medical costs are affordable. Panama recognizes most major medical insurance like the TriCare for Life for military retirees.
Panama Law respects the seniors and retirees by affording them special privileges, discounts on products and services. The elderly in Panama have their own special windows and lines at banks and public services agencies. A real advantage for Panama retirement.
As a “pensionado” immigrant, you can import home furnishings duty free. You can buy a new car duty free also every 2 years, although it may not be advisable if you are planning to sell the duty free car in the future. You will not get a fair price because your car’s value would become less than the taxes that you would have to pay. Minor point for Panama retirement.
The people of Panama are generally good. They are friendly and make good neighbors.
Most of the conveniences that you are used to in the USA, Canada and Europe are available in Panama. If there are some that are not available, then perhaps you can live without it in Panama retirement.
If you are American, you will be very much welcome to the government of Panama, because they want you to spend your retirement check in their country. Also, the Panamanians are very comfortable with the Americans, because of their long years of stay in Panama while they were working on the Canal Zone. You can therefore truly enjoy Panama retirement.