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Why is retirement in Panamá one of the hottest trends among expats? Discover the pros, cons, and cost of living in Panamá and how it fares against Costa Rica and other destinations.

There are many other advantages to retiring in Panama beyond the fact that they do not tax income from abroad!

Later, watch also this video on the best retirement visa schemes in Latin America:    • How to Live and Retire in Latin Ameri...  

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This video is based on this article:
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💡 TOPICS IN THIS VIDEO 💡
best places to retire in panama, how to retire in panama, life in panama for expats, move to panama, panama retirement, retire in panama, retire in panama pros and cons, retirement in panama, retirement in panama benefits, retirement in panama vs costa rica, retiring to panama, where are expats moving to, where to retire in panama, why live in panama, why retire in panama

#travel #retirementabroad #panama

🔎 EXCERPT 🔎
So let's start with the advantages, and what makes Panama an attractive destination. I will not talk about the weather, because it is obvious Panama has good weather. It is in the Caribbean! So our pros start with more overlooked things that are tremendously important.

The first is the low cost of living. Panama has very low living costs when compared to the US or Western Europe. And in huge part, this is due to MUCH cheaper real estate and labor costs. Think affordable living – apartments, houses, way cheaper than you're used to.

The price you would pay for a cramped apartment in Chicago or London, in mid-sized cities of Panama will put you inside a villa with a swimming pool! Your grocery money in Panama also goes a looong way. Tropical fruit galore, seafood fresh off the boat... Imagine Whole Foods' premium products, all at prices that'll make you smile. Top quality, but way less than you'd pay back home.

The very low living costs are probably the first aspect that puts Panama side-by-side with Costa Rica among the best destinations to retire in the world. But the low living costs are not the only impressive thing about this country. Actually, probably is not even the most impressive thing.

Let's talk about something that in the US breaks the bank: Healthcare. Forget those crazy US medical bills! Get this... a regular doctor's visit? About $80 in Panama City, maybe even less. Compare that to a whopping $300 to $600 in Los Angeles!

Need your teeth cleaned? That'll run you $60 to $120 in Panama. In major American cities, that would be easily double of this value, if you are lucky. Do you need a major surgery like an appendectomy? In Panama City, you're looking at $3500 to $6500. In the US it might cost you between $18,000 to $40,000!