Anybody know of any americans retired to panama?

Question

it's supposed to be a great place to retire,just curious

Answer 1

Avenger, I am not surprised that the American wants to retire in Panama because everything in Panama is extremely cheap.

Answer 2

I am currently working on a new house being built by Americans taking an early retirement and moving to Panama.  The house, of course, is in Panama.  There are apparantly, many expats living there from both the USA and all over Europe.  It is also my understanding, that the taxes are much better there and they do not have to pay ANY taxes on their home for 20-30 years, as that is simply the tax structure.  They also said there is some type of VISA they have that allows them a discount on any air travel they make back to the US.  AND...I have read up on it quite a bit since I am interested in vacationing there this summer....there is virtually NO VIOLENT CRIME in Panama, and not too much theft, etc. there, either.  I found a website that said the entire country of Panama had less than 3% crimes committed in an entire year than New York City has in a day.  Though I suspect with all the Americans moving in, this is sure to change in the near future.  However, from what I have heard/read, it certainly would sound like retirement paradise to me!!

Do some internet research.  Like 'tax in Panama' , 'living in Panama', etc.  There are a LOT of good sites on this.

FOR THE RECORD - The answer above me has one inaccuracy I can definitely argue with.  Land has actually gone down in the past few months.  My client bought the land last year.  This year, the same plot of land they bought is 30% less.  Because of our current economy, Panama has lowered the cost for land in many areas being populated by expats,  since they are mainly purchased by Americans.

Answer 3

hi there.

during my various trips to panama, i have noticed that a great deal of u.s. citizen are selling their homes in the u.s.a. and they move to panama because everybody in panama speaks english.

Answer 4

There are thousands of American retirees currently living in   Panama.See link below:

    http://tinyurl.com/4pdw42

Answer 5

There are a couple of answers that are...inaccurate.

"Everything in Panama is extremely cheap"  

This is not so.

During the past four years, Panama has been on a giant building boom and prices on real estate have tripled. There are cheaper places to buy houses and apartments now than in Panama. A rental apartment that used to be $600 is now $1800.  Houses that used to be $50,000 are now $150,000.

"...because everybody in Panama speaks English."  

This is not true.  Only about ten per cent of Panamanians speak English.  Others studied some English but know about as many English words as you do Spanish.

Most of the professionals, doctors and lawyers speak some English, BUT NOT ALL OF THEM!

People retire to Panama for the same reasons that people retired to Florida in the 1950s and 60s: the WEATHER.

Up in the highlands of Chiriqui province, the day temperatures are in the high 70s and the nights go down to the 60s.  Air conditioning is not needed.  So that is the main reason why people are moving to Panama.

Temps in Panama City can get to the 90s during the day but down to the low 70s at night.

As for prices:

People who do tasks of labor like maids, gardeners and car washers are cheaper than in the USA. A maid will cost you $10 a day.  $30 if you want her to live there.

Haircuts and Beauty salons are cheaper. You can get a haircut for $2.00.

Beer, Wine, liquor and cigarettes are cheaper because there are no high taxes on them like in the USA.

If you eat in the local cuisine, your food costs will be less.

But if you buy American products your food bill will be twice as high as in the USA.

Utilities are less but not by a lot.  

Clothes are less. But they are polyester and made in China.

Gas isn't, it is higher.

So while there are some things that are cheaper here, not

everything is. And not everybody speaks English!