People looking to retire abroad often consider Panama. This country makes obtaining residency easy through its Pensionado Visa program and permits expats to import household goods duty-free.
Panama also boasts lower living costs than many other locations worldwide, so your pension or savings will go further here. Here are The Top 5 Reasons Why People Retire to Panama!
1. It’s a beautiful country
Panama has quickly become one of the premier retirement destinations due to its stunning beauty. From glittering skyscrapers in Panama City to lush rainforests, beaches and breathtaking mountain scenery – Panama truly offers something for everyone.
Panama stands out for its year-round tropical climate. Temperatures generally range from 75-90, and rainy seasons tend not to be as severe compared to living in places like New England or northern United States.
Hiking is a popular pastime among expats living in Panama and there is an abundance of trails to discover both in the mountains and rainforests. Fishing also remains popular with some of the finest waters available anywhere worldwide available to anglers.
Panama is located nearby the US with direct flights departing from Miami and other major cities in Florida and beyond, making travel back and forth easy when needed or visiting loved ones.
2. It’s a safe place
Panama offers an ideal retirement location due to its low crime rates and economic stability, making it a safe haven for people looking to stretch out their retirement income.
Panama boasts an excellent healthcare system comparable to those found in the United States, along with providing affordable housing and utilities services, and generous discounts for seniors and pensioners. All these factors combine so that when moving into Panama you don’t have to worry about its cost of living expenses.
Panama boasts year-round warm and sunny conditions that are conducive to outdoor activities like hiking and bicycling, making the country an ideal location.
No matter where your preferred location may lie – from Panama’s bustling capital of Panama City to one of its laid-back beach towns – Panama offers something for everyone looking to retire here. However, before making a final decision it is wise to conduct research into where is best to retire in this beautiful country. SmartAsset can connect you with trusted financial advisors in your area through its free tool ‘SmartAsset Advisor Finder’.
3. It’s affordable
Panama is an affordable option for retirees looking for somewhere comfortable to call home; living a comfortable life on less than US$5,000 monthly depending on where you decide to settle can be done in this beautiful country.
Retirees looking for affordable properties in Panama will find plenty of choices across the country – from bustling Panama City to relaxed beach towns such as Coronado and Boquete. Furthermore, Panama boasts an excellent health care system as well as plenty of outdoor activities, making it a fantastic destination for active retirees.
Boquete offers cool weather, breathtaking scenery and an intimate connection with nature. Home to two UNESCO Natural World Heritage Sites and hiking trails through rainforests filled with exotic plants and animals teeming with life, Boquete offers nature enthusiasts a chance to connect with nature while escaping the stresses of modern life. You can visit Volcan Baru – home of one of the highest volcanoes in Panama where spectacular views meet fragrant freshly roasted coffee aroma – an experience you simply cannot get elsewhere!
4. It’s friendly
Panama offers an inviting and welcoming environment, making it the ideal location for retirees seeking an immersive cultural experience abroad. Many Panamanians speak English and welcome expats with open arms. Furthermore, its lower cost of living allows retirees to stretch their retirement savings further and live a comfortable lifestyle abroad.
An elderly couple can live comfortably on an annual budget of approximately $1,500-$2,500 in Panama. This covers housing costs, utilities bills, transportation and food costs; dining out costs tend to be less expensive – meals typically range between $5-$10 for takeout orders.
Panama offers retirees many expat communities that cater specifically to them, making it easier for newcomers to find similar people and form friendships quickly and easily. Popular places include Boquete, Coronado and El Valle; these communities attract expats due to their welcoming environment and breathtaking natural surroundings.
5. It’s exciting
Panama offers plenty of exciting retirement destinations, from stunning beaches and bustling cities to affordable retirement communities. If you’re seeking an exciting place to retire, Panama could be your answer! There is so much to see and do here – from relaxing beach walks to vibrant city living – with something for every taste imaginable right on its doorstep.
Your money goes much further in Panama than in Europe or North America, enabling you to live comfortably on a small pension while experiencing great quality of life and cultural events.
Retiring abroad may seem intimidating, but with proper planning it needn’t be. Just visit each country you are considering before making a final decision and be sure that it is suitable. Who knows; maybe you might just fall in love! So start your retirement adventure today!