With a much lower cost of living and incredibly beautiful surroundings, more and more Americans have been choosing Panama as the ideal spot in which to spend their retirement. A winner for six years in a row of International Living magazine’s Annual Global Retirement Index, Panama offers retirees many unique benefits.
Stable and Affordable
With a stable, democratic government and financial stability, it’s easy to see why Panama is so appealing to retirees. The official currency is the U.S. dollar, and Panama City boasts one of the highest concentrations of banks in the world. Long considered an international finance center, visitors and residents alike have access to the same financial resources they would find in any major city throughout the world. Panama allows foreigners to own property, and offers an added benefit of making retirees exempt from property taxes for twenty years.
Modern Healthcare Facilities
It’s easy to find world-class healthcare in Panama, with many hospitals featuring U.S. trained doctors and nurses. The costs for healthcare in Panama are significantly lower than in the United States, and the level of care is equivalent to what one would expect in any major U.S. city. Retirees who have an income of at least $1,000 per month qualify for a government program which offers additional discounts on prescription goods and services.
Easy Transition
Often, moving to another country involves a period of adjustment when one must get used to an entirely way of living. In Panama, the fact that driving is done on the right side of the road, car steering wheels are on the left, and no adapters are needed for U.S. appliances makes this virtually a non-issue.
Temperate Climate and Amazing Views
In addition to all the practical advantages of retiring to Panama, one cannot leave out the opportunity to live in paradise. With a temperate climate, exotic rainforests, beautiful beaches and islands on the Pacific and Atlantic coasts, as well as an amazing array of plants and animals, few places on earth can match Panama when it comes to tropical beauty. Home to an incredible variety of orchids and butterflies, Panama also boasts a wealth of outdoor activities including snorkeling, fishing, surfing, and scuba diving.
If you are looking for an ideal spot in which to spend your retirement, stretch your retirement income, yet still have easy access to the same types of facilities and services you would have in the U.S., Panama definitely fits the bill. With a consistently excellent standard of living, this tropical paradise is truly a dream retirement location.
Mable Hunter is an ex-pat currently living in Vietnam with her husband of 23 years. When not writing for VietnamTravel.net, she’s busying planning Vietnam holidays for friends and family who want to visit, in her words, “the most beautiful country in the world.” Image by HeLMut G.
