I am looking at moving to Panama in 2023 when I retire because I can make my pensions and social security pay for everything and live reasonably well instead of being on the forced labor treadmill well into my 70s if I stayed in the U.S. in order to pay for my housing and healthcare costs.
A “pensionado” can expect to spend 30-40% of what it costs in the U.S. for many things (not everything. Cars and computers cost about the same as the U.S.) and the U.S. dollar is still the official currency so there’s no playing with exchange rates. Yes, there are sacrifices and it is not for everyone but if you can adapt to a different language and culture, you may find retirement outside the U.S. the best way to stretch your retirement savings.
“Yes, there are sacrifices and it is not for everyone but if you can adapt to a different language and culture...”
Non-starter here - my wife (Grammy) isn’t leaving the grandchildren, too much different culture/language right here in the US, not interested in leaving guns behind. I/we did the adaptable thing right after college with my Army assignment to West Germany. Less adaptable and more curmudgeonly now...
Habla Espanol? Si no mucho, empieza estudiar inmediatamente. Seria much mejor. Te enseno, si quiere. Suerte!
Sorry, but I don’t have a Spanish keyboard. But you’ve made me think about moving there as well. I love to speak Spanish!
Es un idioma muy bonito!
The best of luck with your planned move. I know several people who have done it very successfully and had a radical lifestyle upgrade.