“Panama has lots of American’s retiring there because you can live very well on little money.”
There is a reason for that. Why is that? Could it be that half the population live in slums who live in a few dollars a day.
Not thanks. As I said one revolution or drug cartel away from losing it all.
I will stick to 1st world countries for my retirement.
I never said you had to do it, I said folks do... and frankly I don’t blame them.
I know if I was looking at living in poverty in the US, or in a gated community in luxury because I didn’t have a huge nest egg saved up, I’d consider moving to another country to retire as well.
Yes, it has its risks, but the risk of a coup is less than the knowledge you will live out your years struggling just to make ends meet every month... Generally its a no brainer. Not saying I would do it, but if all I had was my social security... be damned stupid not to consider it.
https://www.investopedia.com/articles/personal-finance/100815/what-does-it-cost-retire-panama.asp