Posted on 07/07/2009 7:26:21 PM PDT by SeekAndFind
Prospective retirees: Panama wants you. The pitch? A plane ride just 21/2 hours from Miami enables the newly poor to swap a wretched retirement in the U.S. for one befitting a royal in the balmy Central American nation. Cash out! Emigrate! Feel rich! Panamathe new Florida.
Spin aside, Panama is increasingly popular among retirement-age types looking to hedge againstor skip out onthe recession. The Migration Policy Institute, a Washington-based think tank that studies the movement of people around the world, says the chief factors prodding professional-class Americans to flock to Panama include its First World health care available at Third World prices and the country's pensioner program, which offers some of the deepest retiree discounts in Latin America. Seniors get up to half off on nearly everything, including movies, motels, doctors' visits, plane tickets, professional services, and electric bills. Expats also pay no tax in Panama on foreign income. Nor are they required to pay property tax for the first 20 years.
The fact that a luxe beachfront manse can be had for the same price as a dump in Daytona doesn't hurt, either. "We would have been looking at $3 million in Miami," says Jon Nickel of his 3,000-square-foot oceanfront penthouse in Panama City. Nickel and his wife, Gretchen, bought the place in late 2007 for $250,000, right after Nickel retired from his corporate law job in Portland, Ore., and sold the family's mortgage-free home for $800,000.
The skinny isthmusnearly all coastline, with a mountain range slicing through the middleboasts some of the best weather and lowest crime rates in Latin America. Other draws include guilt-free conspicuous consumption, with laughably low pricesby gringo standardson splurges such as a day of beauty ($10) and a maid ($15 a day).
(Excerpt) Read more at businessweek.com ...
Malaysia and Thailand are way cheaper. The infrastructure (highways, internet, etc) is better and the crime rate is lower. The big negative is these countries are 12 time zones away - i.e. midnight in New York is noon in Bangkok.
I’ve been through the canal on a sailboat several times, a process that takes about ten days more or less, and requires the skipper to travel around quite a bit of the country by boat and taxi. I love the place. Except for Colon, the place is great. Inexpensive, any climate you desire (dialed in by altitude and coast etc), friendly people who mostly speak Ingles....
Thumbs up for a 2nd home or condo, or expat relocation potential.
Roger Boca del Toro, awesome area, barely developed. If I was single, I’d be there. The country is crawling with pretty girls who are well-educated and speak English.
*ping*
Panama is a beautiful country, wonderful beaches, great food, and beautiful women.
Concerning snakes: stay out of the jungles!
Hijo, I want to practice my Spanish!
Even better — The Philippines: http://www.LivingInThePhilippines.com
You don’t have to learn Spanish and the cost of living is even lower than Central America.
Neighbor who pilots for American to a lot of Caribbean destinations recommends Costa Rica as the place to get away to - says many US expats have made it home already....
The greatest danger in Panama isvehicular homicide to yourself from the murderous/suicidal drivers there.
Ask anyone who has resided there, especially in the Panama City area. Figure in the retirement costs those of shipping the pulverized remains back to the states.
Is this “Jebbie’s” legacy?
Recently visited Lake Chapala, in Jalisco, Mexico (far from the border towns. Lots of American retired expats, perfect weather and the dollar is worth about twice what it is here. Highways are very good and housing is soo inexpensive.
I'm not so fond of the heat anyway.....
there are no great alternatives, except finding a left behind area in fly over country....
...go here instead....
I got out of there by the skin of my teeth back in the late eighties.No chance in hell of ever stepping foot back in that country.Costa Rica was very nice and the people were as well.
Still, if faced with the choice...
2b doen’t know what he/she is talking about.
I know. I live in Panama.
Thank you for the ping.
I hope to see a lot of you folks here in the near future.
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