Retiring Abroad? 5 Reasons Why You Should Choose Panama For Retirement


Although there are a minority of people that frown at the idea of retirement fearing that it means they are old, the majority of people in the world have found that retirement provides an opportunity to embrace life and explore the world.

When you have worked hard and sacrificed for decades and seen how the economic climate of your native country (or place of residence) had fluctuated, you may now be considering where it is best for you to spend your retirement as this is the time in your life that is meant to be a little less stressful and a lot more enjoyable. Just because you are retiring does not mean that you are expected to stay at home knitting or gardening; for many this is an opportunity to travel or re-locate to a nice hot country that can offer a more desirable lifestyle.

If you are relying upon your pension alone to finance you throughout your retirement then you may be feeling disheartened if this is not a lump sum of grandeur. However, you do not need to have a wealth in pensions to be able to fulfil a dream of retiring abroad in the nice hot sunshine as Panama offers an incredibly low cost of living overall.

A Few Reasons Why Panama is a Great Choice for Retirement

1. Low Cost of Living

This is probably one of the most attractive incentives for retiring in Panama as your monthly pension can stretch profusely in comparison to countries such as the UK or the US (in general). Although the currency conversion for US Dollars has deflated a little, what hasn’t changed is how much you can purchase in Panama with your money. For example a weekly shop of fresh produce that would cost approximately $40/£25 would cost $10/£6

2. Great Discounts for Retirees

On top of the huge benefit of low living costs, Panama assists their retiree’s expenditure by applying a discount between 25-50% off hotels, flights, restaurants and more

3. Communication

English is widely spoken so you don’t have to worry about being able to translate their native Spanish. However, if you want to enhance your language skills, Boquete (Panama) offers one of the very best Spanish language schools in Latin America

4. Panama is up to Speed!

Panama hasn’t fallen behind with times but moved with them, so unlike other countries abroad, Panama can offer a high speed internet connection, good mobile/cell phone service and the airports offer regular flights globally so it is easy to keep in touch with loved ones

5. Residents Visas

It is very easy to obtain a residents visa in Panama. The main requirement is to prove that you will be receiving your pension as a regular payment eg: Monthly. You can discuss how to obtain a visa more with your travel agent
So all You Need to Consider is Where to Stay?

Where to stay in Panama isn't a difficult decision to make when it come to price but it could be when trying to decide on your preferred accommodation as there is so much to choose from. Although property has boomed in Panama there are still some good deals to be had if you are looking to buy. However, if you want to split your time between Panama and wherever the rest of your family reside, Panama does afford you the opportunity to be a regular and long term tourist. Hostels are a great alternative to hotels and villas whilst still providing you with a luxury stay. We have cottages available to hire if you would prefer to use these on loan as your holiday home, or home away from home for very reasonable prices. There's so much room you could host dinner parties or even have people to stay.

There are many more reasons as to why you should take a trip or retire in Boquete, Panama but it is always best to see for yourself!