Panama frequently ranks as the top retirement destination for expats worldwide, thanks to its stable democracy, affordability, excellent healthcare facilities, warm climate, and beaches. It is also within easy reach from the U.S., just a 2.5-hour flight away from Miami International Airport.
With this Central American country earning the No. 1 spot on the Retirement Index for the eleventh time in 2022, you may be wondering, “Is Panama really the world’s best place to retire?” While it may not be for everyone, it can be ideal for many.
The Pensionado Visa & Discounts
Most retirees get the Pensionado Visa, which has relatively easy requirements: a minimum monthly pension of $1,000 for a single person or $1,250 per month for a couple. With many making monthly mortgage payments of several thousand dollars or more in the U.S., Canada, and beyond, we know what you’re thinking. The answer is yes. It is possible to live on that amount in Panama! Plus, getting that Pensionado Visa always brings several benefits that foreigners qualify for.
In addition to the lower cost of living, there are many discounts available to those with a Pensionado Visa, including 25 percent off utility bills, 15 percent off hospital services when insurance doesn’t cover them, a 15 percent discount on eye exams and detail services, a 10 percent discount on medicines, 30 percent off train, boat and bus fares, 25 percent off airline tickets, and 50 percent off entertainment such as movies, cultural and sporting events, concerts and movies.
Higher Quality of Life
The overall quality of life is high in Panama. People tend to be healthier, happier, and less stressed. It’s not all that surprising, with the frequent sunny days and warm weather making it more enjoyable to get active outdoors. And, the lifestyle, in general, is much healthier than the typical lifestyle in the U.S. and many other places. People tend to walk more and eat less fast food. Although there are fast food chains in the big cities, most “fast food” consists of lentils, rice, and meat. There’s a focus on fresh fruits and vegetables with few preservatives used.
With access to good healthcare, an abundance of nutritious foods, lower expenses, friendly people, incredible scenery, and warm weather to enjoy it all, you can expect to smile a lot more often and have a much higher quality of life in Panama.
Sunny Skies & No Natural Disasters
Even during the wet season, the sun frequently appears in Panama. Often, the day starts out with sunny skies, with just an hour or two of rain in the middle of the afternoon. That makes it easy to adjust your days accordingly, just like so many Panamanians do.
While many attractive destinations have beautiful beaches worldwide, a good percentage are subject to hurricanes and at high risk for other natural disasters. Fortunately, Panama is not affected by significant earthquakes and offers pristine sands framed by clear blue waters without being directly impacted by hurricanes. Although flash flooding is possible during the season, it is typically limited to October and November, which bring the heaviest rainfall.
Don’t Like the Weather? It’s Easy to Find Different Climates
Despite being such a small country, Panama is geographically diverse. Within an eight-hour driver or just a 45-minute flight, you can be in a major metropolitan city, soaking up the sun on the Caribbean coast, surfing the waves in the Pacific, or enjoying a cool respite in the mountains. That means no matter where you are in Panama, if you don’t like the weather it’s easy to enjoy a weekend getaway somewhere else.
It’s Safe
Panama is one of the safest countries in Central America, and violent crime is relatively rare. Petty crime is more common, with higher risks for home burglaries in some provinces, such as Colón, which are considered a no-go, day or night. You’ll want to avoid the areas of San Miguelito, El Chorillo, and Calidonia in Panama City at night and always watch for pickpockets at bus stations or busy shopping areas such as Avenida Central.
The bottom line is that if you talk to most expats in Panama, they’re likely to tell you that they feel safer than they did back home, with few running into any problems while living here. Of course, using common sense as you would anywhere is important, ensuring that you keep your belongings secure.
Convenient Access to Destinations Throughout the U.S. and Canada
One of the biggest concerns when considering moving outside the country is being farther away from friends and family. It is essential to get back quickly if you need to, and the good news is that Panama is one of the most convenient countries among desirable retirement destinations. Regarding speed and airfare costs, it’s hard to beat Panama City International Airport, just a 2.5-hour flight from Miami, a major North American hub.
In addition to Miami, Orlando, Dallas/Fort Worth, Houston, Atlanta, Washington, DC, Newark, and New York City (JFK) offer non-stop flights to and from Panama City. The country is also well connected with the Caribbean, South America, other Central American countries, and Western Europe. Most travelers fly into Tocumen International Airport (PTY), Panama’s main airport, which is 15 miles east of downtown Panama City.
No matter where you want to get to, whether it’s back home or to explore other countries you’ve always wanted to visit, you’ll find it relatively easy to do from Panama. Although, fair warning, you may never want to leave once you get here.
Sources:
https://www.embassyofpanama.org/retire-in-panama
https://www.panama.climatemps.com/
https://www.gov.uk/foreign-travel-advice/panama/natural-disasters
https://www.cntraveler.com/gallery/best-places-in-the-world-to-retire
