Right Now Could be the Best Time to Come to Panama...the Hub of the Americas.
Panama has long been the prime choice for retirees, second-home buyers, and property investors alike. Today you can still find apartments in sought-after areas of Panama City for $80,000 and live well on $1,200 per month.
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Panama Fast Facts
Population: 3,559,408 (July 2013 est.)
Capital City: Panama City
Climate: Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)
Time Zone: GMT-5
Language: Spanish (official), English 14%; (many Panamanians are bilingual)
Country Code: 507
Coastline: 2,490 km
*Prices as of 2013
Read more articles about Panama Below
- My Favorite Way to Find Property for Sale in Panama
Posted on December 12, 2013 by Eoin Bassett
I have discovered my favorite way to view a property for sale. First, you get an hour-long massage costing just $45. Then you eat your fill of fresh-off-the-boat tuna for just $8. And finally, you take a five-minute walk through the streets of Pedasi, Panama and take a look at this house on the left. For sale for $80,000, it’s a two-bedroom, 743-square-foot home currently renting for $600 a month unfurnished.
- Medical Tourism: 4 Countries Where You Can Get High-Quality, Low-Cost Health Care
Posted on December 12, 2013 by Barbara Ross
The cost of elective procedures such as dental and cosmetic surgery is cheaper in these four countries than in the U.S., even when you take the cost of travel into account.
When my husband first proposed the idea of retiring early outside of the U.S., I thought he was being unrealistic. Could we really afford to retire in our 50s if we found a place where we could live on less? I was skeptical…but I’m happy to report that we’ve been living that dream in Panama for over two years now and have never looked back. Here we could actually afford to retire, live comfortably and even travel.
Low cost of living…stunning natural beauty…warm, friendly people…and the best retiree discount in the world. There are so many good reasons to live in Panama that it’s easy to see why Americans are choosing this country as their retirement haven. It’s a country that has something for everyone. Want to live by a white-sand beach, gazing out at miles of clear-blue Pacific Ocean or Caribbean Sea? You can here. More of a quiet mountain town kind of guy or gal? You’re in luck. Panama has a range of little mountain towns to choose from.
Are you sick of the rat race? You know the routine…get up, shower, have breakfast, leave the house, get stuck in traffic, put in long hours at the office. Get home, go to bed and do it all again tomorrow. Are you ready for retirement…but looking at your savings you know retirement is out of the question? Here’s how to survive a retirement crisis. You can live a richer lifestyle for less overseas. Many expat couples can live a very comfortable life on a budget of between $1,500 and $2,000 a month…
- Five Places to Get Affordable Health Care Overseas
Posted on November 29, 2013 by Barbara Ross
In the following five countries you will pay less for health care than you do at home. And the quality is at least as good…in fact, many expats say it’s better. Affordable health care isn’t the only reason to move overseas—but it makes the move more attractive. You can get great quality health care for less abroad, lowering your monthly expenses. Panama offers excellent quality health care and modern hospitals in Panama City and other large towns or cities…
A metropolis like Panama City or Paris or Montevideo has its advantages. In large, cosmopolitan communities, you have a wealth of choice in restaurants, museums, and parks. The hospitals tend to be better, the cultural offerings more varied. But a big city has its downsides, too. It can be loud, frenetic, disorganized. You may gain a measure of anonymity you enjoy, but it can be difficult to meet your neighbors and make friends.
There’s no other retirement destination quite like Panama. Whatever you’re looking for in a retirement, you’ll find it here. Do you prefer living by the ocean? In the mountains? In ranching country? Big city? Small town? Would you prefer the mainland or a nearby island paradise? Well, Panama has it all so the choice is yours.
When you move overseas, most things cost less. Health care is cheaper, beachfront property is cheaper and flights are cheaper when you qualify for a retiree program. You can even enjoy a symphony performance for far less than in the U.S., and have a better quality of life for less. Here is a list of five items that are cheaper overseas.
The two best things about mornings in Volcancito are the coffee and the view. I’m at the heart of Panama’s coffee-growing highlands—there’s even a bush of red “cherries” in my garden. (They’re surprisingly sweet when you suck one.) And for $600 a month, including all utilities you get a stunning view of the town of Boquete, Panama.
- This Nurse from Nebraska Adores Panama’s Health Care
Posted on November 22, 2013 by Erica Mills
Back in her home state of Nebraska, Judy Eaton worked as a registered nurse (R.N.) for 40 years. So when she told me how impressed she was with Panama’s health care system, I made sure to pay attention. I met Judy for lunch in the small mountain town of El Valle on a visit to Panama earlier this year. I was there to speak to expats about what they loved about this small, stunning country.
- Costa Rica Versus Panama: Which Country is Best for You?
Posted on November 21, 2013 by Dan Prescher
My wife, Suzan Haskins, and I were married in Costa Rica 14 years ago and have been back for business and pleasure almost every year since. We also lived in Panama in 2006 and, like Costa Rica, have returned nearly every year for International Living events, editorial trips, and vacations. So it is inevitable that…
- 5 Quick Questions Everyone Should Answer Before Moving Overseas
Posted on November 20, 2013 by Barbara Ross
There are many benefits to moving overseas: the weather is better, your quality of life will improve and you will always have something to do. Here are a few quick questions that you should ask yourself before moving overseas. 1. What type of weather do you like? If you don’t like the snow then you should…
A metropolis like Panama City or Paris or Montevideo has its advantages. In large, cosmopolitan communities, you have a wealth of choice in restaurants, museums, and parks. The hospitals tend to be better, the cultural offerings more varied. But a big city has its downsides, too. It can be loud, frenetic, disorganized.
It’s hard to believe four years have passed since I moved to Panama. It’s even more incredible to think that I left the U.S. almost nine years ago. I live in David, the capital of Chiriquí Province in the west of the country. I didn’t plan to move here; it was never on my “to do” list. But when my husband, Al, and I first saw the rolling hills and slopes lined with rows of vegetable plants, acres of pineapple and rice fields, coffee plantations and orange groves, I said to myself, “This is it; this is where I want to live.”
Winner of the 2013 Global Retirement Index, Ecuador offers sophisticated historical cities…miles of unspoiled, sun-kissed beaches…fertile farmland…and temperate mountain hideaways…and all of it for pennies on the dollar. You can live well for a fraction of the cost of living back in the U.S. And with Ecuador’s official currency the U.S. dollar, you needn’t worry about complicated currency calculations or exchange risks.
You have the full sweep of the city’s coastline below you, from the high-rises of Punta Paitilla to the church steeples and colonial mansions of the historic Casco Viejo district. Walk back downhill a little and you’ll find a viewing platform from where you can see the goings on in the port of Balboa on the Panama Canal.
- Living Internationally: How to Enjoy a Roving Retirement
Posted on November 14, 2013 by International Living
Advances in technology have opened up the world. Planes, trains and the Internet are all getting faster and—if you know where to look—you can embrace these changes and make your dream of exploring dozens of overseas destinations come true. Right now, living internationally…
For every substantial, bricks-and mortar business set up by an expat overseas, there are hundreds of small enterprises that people operate from their own homes with very little investment. Within a year of starting their micro-enterprise overseas, Jim and Mariellen Wiemann are making a profit and supplementing their retirement income. “The business allows us to purchase the things we might otherwise not have. We are planning some vacations abroad, and the business will support those adventures,” says Jim.
When I asked my Facebook pals what they liked most about working for themselves I expected to get answers about no stressful commute, no office politics and other annoyances they had left behind. Instead the replies looked like this:• “Having customers from around the world; I never realized I could be a global entrepreneur.”
- Escape to Warmer Climes and Live off Your Property Investments
Posted on November 5, 2013 by Sarah Booth
I purchased my first rental property in the ski resort village of Whistler, BC, Canada, when I was 23-years-old with a very small down payment. At the time, I was working as reservations manager for a property management company so I had first-hand knowledge of the strong returns that could be achieved through rentals. Over the following eight years, I proceeded to buy, renovate, rent short-term, and ultimately sell nine Whistler properties.
- In Pictures: The Top Five Places to Live in Panama
Posted on November 5, 2013 by Barbara Ross
Panama has always been a top choice for retirees due to its tropical climate and many English-speaking locals. If you are considering retiring overseas, Panama should be high on your radar.Panama has a low cost of living and great retiree benefits. Here are our top five places to live in Panama.
Laying under a palm tree on a tropical beach is a fantasy many people only act out during vacation or retirement. Sure, we would all love to live in paradise long before our twilight years, but, so the thinking goes, it’s far from feasible. Not so. In fact, more and more hard-working North Americans have begun to redefine their life parameters and are moving abroad to exotic locations before retirement. How? By opening businesses that support their lives abroad in the country of their dreams.
- Panama’s Canal Expansion and its Effects on the Nation
Posted on October 29, 2013 by Jessica Ramesch
Panama’s culture has been molded in great part by the Panama Canal. Attempts to build the waterway brought French and American citizens here. The country, once a forgotten province of Gran Colombia, began to grow into an international hub. As ships from all over the world began to utilize the canal, foreign nationals began learning about and heading to Panama. Today, this tiny country is a true melting pot and has been dubbed the logistics Hub of the Americas.
According to Fidelity Investments in 2012, those aged 55 and older had an average balance of $143,300 in their 401k account. But is this enough to retire on? Maybe not in the U.S., but retiring overseas can be much more affordable than retiring in the U.S.
My friend Sarah Booth is a real estate investor who lives in Panama. She owns various types of property in several Latin American countries that she rents short-term to vacationers and others. These visitors come to spend a week or two…or even a month or more…in one of her seaside apartments in Mexico, or in her longer-term rental in Panama City, or in one of the casitas she has built on the grounds of her home at Playa Coronado on the coast about 70 minutes from Panama City.
- The Benefits of Obtaining Permanent Residence in Panama
Posted on October 24, 2013 by International Living
Panama has numerous different options that provide great benefits when it comes to securing residence in this tropical paradise. When it comes to the “Special Benefits of Retirees,” Panama does more for both its local and foreign retirees than any other country on the IL radar.
Fifty years ago, if at retirement age you spent a few months in Paris…then moved on to Lisbon for the winter…settled for the spring in Italy…and then steamed down to Panama and Argentina…you were probably either wealthy, eccentric, or running from the law. These days…you’re just a run-of-the-mill vagabond retiree.
- Thousands of Jobs That Pay You in Ecuador, Panama, Paris…
Posted on October 22, 2013 by Winton Churchill
There is a tidal wave of opportunity coming your way… Opportunity that could pave the way quickly for your live-abroad move. In fact, whether you want to live in Cuenca, Panama City or Paris, that move could now be financially more comfortable…and you could make it with greater mental satisfaction than you might otherwise expect.
- Panama Offers Boaters Overseas Big Savings on Yachts and Docking Fees
Posted on October 18, 2013 by Laura Doyle
Based in Minnesota, Mike and Ann Roess bought their sailboat in Panama and saved at least 15% on the cost, reports InternationalLiving.com. They found Escapade—a Hylas 49 sailboat, which sleeps up to eight people—on Yachtworld.com, a website that connects boat sellers and buyers. A Spanish mariner owned the boat and docked it in Panama. The Roesses had a gut feeling that it was the right boat for them, so Mike flew to Panama.
What do monkeys, orchids and modern art have in common? You’ll find them all on Ancon hill. At 654 feet high Ancon is an island of natural beauty in the western part of Panama City. Formerly part of the Canal Zone, it’s now a protected area of secondary forest. Flowering Bird of paradise grows on the roadside and tawny-eared neque (think a rabbit crossed with a squirrel) hop into the undergrowth as you approach.
- Happy Vagabonds – Roving Retirees in Search of the Perfect Place
Posted on October 17, 2013 by Yvonne Bauche
With cries of “you’re too young to retire” still ringing in our ears, we handed over the house keys and flew away from Vancouver, Canada, in search of a new life. Sixteen months and 22 countries later, we are still enjoying our lifestyle as happy vagabonds. Our adventure is also a mission to explore the world in search of the perfect retirement location.
Winner of the 2013 Global Retirement Index, Ecuador offers sophisticated historical cities…miles of unspoiled, sun-kissed beaches…fertile farmland…and temperate mountain hideaways…and all of it for pennies on the dollar.
When my wife, Suzan Haskins, and I moved abroad 12 years ago, we had some decisions to make. We owned a large house and garage full of the usual collection of furniture, cookware, tools, books, rugs, electronics, knickknacks…all the flotsam and jetsam of American middle-class life.
Penny Ripple is perhaps Boquete’s most enthusiastic resident. “The landscapes here just blow you away. I can see Volcan Baru, a dormant volcano and the highest point in Panama, from my window. We’re about 3,500 feet above sea level in Panama’s Chiriqui province, near the Costa Rica border. I love it here,” she says.
- The Top Two Best Places to Retire Overseas and Claim Special Retiree Benefits
Posted on October 16, 2013 by Barbara Ross
Many countries overseas provide retirees with special benefits, but the two that have taken the top spots in our Annual Global Retirement Index 2013 really take care of their retirees. For retiree benefits, Panama holds top place, as our Panama editor, Jessica Ramesch reports in this year’s Retirement Index.
Few countries can boast so romantic a history, so pleasant a climate, so friendly a people, and so dynamic and modern an economy as Panama. Panama City is the largest offshore and regional banking center south of Miami, serving all of Central and South America. The country has more than 80 well-regulated banks, 50 of which are multinationals, that collectively hold an estimated $100 billion in assets, with liquidity impressively high at an average 30%—far better than in the U.S.
Work ‘Til You Drop? Not in Panama
Event Date: Apr 04, 2013Fast-Track Panama: Lifestyle & Opportunity Conference
April 4-6, 2013, Panama City, Panama
Stay home and face mounting debt and dashed retirement dreams. Or come to Panama and enjoy picture-perfect beaches kissed by turquoise waters… pretty mountain villages with year-round Spring-like weather… a cosmopolitan seaside city with world-class restaurants and designer shopping for pennies on the dollar… In Panama, you really can live well on $1500 a month or less. Discover if Panama is for you at the Fast-Track Panama Conference.
Welcome to IL
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- Panama Fact File
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- Rolodex: Contacts in Panama
- Why Panama?
- Fatima Parish Charity in Panama
- Renting in Panama
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- The Economy in Panama
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- Santa Fe, Panama
- Cost of Living in Panama
- Find Out More About Panama
- Free Panama Report
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- David, Panama
- Coronado, Panama
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