5 Reasons North Americans are Retiring in Panama

By Alice Beth alice@ipreinfo.com

How would you like to live in a place that rewards you for being retired on a daily basis?

A place where you receive discounts on everything from hotel rooms and movie tickets to doctors bills and medications. A place where “Respect your elders” is actually an established law. A place where the cost of living is low, the quality of life is high, and the birds are always singing.

Ladies and gentlemen, that place is Panama.

Over the last several years, retiring in Panama has become increasingly popular with North Americans and others from around the globe. Alluring everyone from the wealthy to the budget-minded, the adventure-seekers and hammock-dwellers alike, one pattern is clear: People are packing their bags, boarding planes, and saying “Honey, I’m home” to Panama.

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Playa Coronado, Panama. Photo by Oliver Wolfe

Here are a few reasons why

1. Panama retirement benefits can’t be beat

Expect to save money on just about everything if you retire in Panama. With its growing list of government-issued retirement incentives, Panama offers pensioners of any age a truly heightened lifestyle at a fraction of the cost.

Why is Panama doing this? Quite frankly, Panama wants you here. They know that when you get here, you’ll be contributing your well-earned dollars to the economy, and bringing your friends to visit (Trust me, they will visit.) Consequently, they’ve crafted what is perhaps the world’s best retirement program- and it’s working.

After all, who wouldn’t enjoy receiving discounts on things like hotel rooms, transportation, restaurants, airline tickets, medical treatments, utility bills, and more? We sure do. We’re willing to bet you would, too.

2. Panama makes luxury on a budget possible

We’re not going to say Panama is the cheapest place to live abroad (those who do are bluffing…or envisioning a diet of rice, beans, and mosquitos) but we will say this: Your dollar will take you significantly farther than it would back home. That’s because the cost of living in Panama is still exceptionally low for such a thriving economy.

Retire to Panama and suddenly, that ocean-view condo is within your budget. Eating out every night? No problemo. Movie theaters featuring new American releases? Two VIP tickets, please, for a leather recliner is worth the $10 ticket. $4 Margaritas at sunset? As if there’s any other way.

Retiring in Panama, you live the way you want to- without money stressing you out or holding you back.

3. Panama offers a heightened quality of life

One of the most important differences between Panama and other cheap places to retire is that while the cost of living is low, the quality of living is high. People who retire in Panama often report being significantly happier, as well as having more energy, more friends, and a more active and healthy lifestyle than ever before.

Spend just a few days in Panama, and you’ll understand why. If your day-to-day was spent surrounded by breathtaking natural beauty, crisp tropical weather, alongside kind-hearted communities and an agenda of constant fun and relaxation- wouldn’t you feel young again?

4. Gringos welcome

To be honest, I’m still somewhat astonished at how genuinely kind the locals are to us Gringos. There’s a lot of us, after all, and most of us don’t even speak Spanish! Not well, anyway.

Even so, Panamanians as a whole are a benevolent and welcoming people. They’re patient, generous, and always willing to help out the confused Gringo staring at a map (even if only through charades.)  If it’s truly the people that make a place great (and I believe it is) then we’re in good hands here in Panama.

5. Business is a-boomin

As an accomplished retiree, business might be the last thing on your mind. That certainly was the case with the majority of people who came to retire in Panama, and surprised themselves by finding their calling at the age of 50+!

There’s so much opportunity in Panama, you can feel it in the air. The economy is thriving, the population is growing, and so is the desire for more products and services. Many people have “accidentally” started businesses just by pursuing a beloved hobby and realizing it could be a lucrative business!

What can we say, it’s an atmosphere of enterprise.

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