Whether it’s adventure, sand, sun and sea or maximizing your retirement’s worth that you’re after, it’s good to consider living abroad for the rest of your golden years. One of the top destinations for retirees is Panama, mainly because of the perks that it offers to its pensioner population, tropical climate and value for money.
For single retirees, all you need is US$500 a month to get the special pensionado (pensioner) privileges in this country. Panama City was built by Americans while they were running the Panama Canal so it is a cosmopolitan city much like Miami. If you can’t afford Miami, then this is the place to go.
So what are the perks for retirees?
• 50% discounts on movies, theater, sporting events and concert tickets.
• 25% discounts on restaurants.
• at least 30% discounts on hotel stays; 50% from Monday to Thursday.
• import duty exemption for a new car every two years.
• great health care system.
• modern buildings, shopping centers, city convenience.
Panama’s weather can get so hot during summers and you may find it intolerable. You can choose to time your vacations during this time and head to colder places, like the mountainous regions of the country, if you can’t take the heat. But remember to learn Spanish first. While city dwellers can readily converse in English, that’s not the case in other parts of the country. To fully enjoy the countryside and explore more, you need to overcome the language barrier first.
-Stephanie