Banner

Ten Pitfalls And Perils Of Retiring To Panama

July 20, 2010, Panama City, Panama: Here are 10 things to prepare for when making a move to Panama.

Dear Live and Invest Overseas Reader, 

Lind Adams of the United States writes this week to ask: 

"Kathleen, could you please address some of the possible pitfalls to watch for when attempting retirement to Panama? With all the vast experience and knowledge you and your staff have, I am sure you could offer some good information on things to be cautious about when making such a move..."

  1. The people in Panama speak Spanish. Some, especially in Panama City, also speak English, but you can't count on this. To make your transition less frustrating and your experience in the country more fulfilling, you're going to need to learn to speak at least a little Spanish.

  2. Panama City is hot and humid, all year long. Sometimes, miserably so. The good news is that, today, most everywhere you'll want to go (the shopping malls, the grocery stores, the movie theaters, banks, restaurants, etc.) is air-conditioned. The other good news is that you can escape the heat of Panama City with a trip to the highlands, where the climate is cooler, even chilly.

  3. Downtown Panama City has received an impressive facelift over the past couple of years, and the new Cinta Costera pedestrian park area that runs through the center of the city and along the Bay of Panama is well-conceived, nicely landscaped, and carefully maintained.

  4. Elsewhere, though, in the capital, the neighborhoods are much more Third World. Remember, Panama Cityis a developing country. Its infrastructure is without peer in the region, and this country is working aggressively to improve itself in every possible way. Still, again, this isn't the First World. Expect poverty, garbage, and broken sidewalks.

  5. Latinos, including Panamanians, are loud. They like loud music, late-night parties, and any excuse to set off a round of firecrackers.

  6. Panama has no national, to-your-door mail delivery service. You'll have to arrange to have your mail forwarded to you from a mail-forwarding service.

  7. It's nearly impossible to find a good road map of Panama City or a reliable map of any part of this country. I don't know why, but there you are.

  8. Most streets are not sign-posted, and many don't have names at all (as far as we've been able to figure out). This may help to explain point #6...

  9. In this part of the world, time is a very fluid concept. Mañana, for example, does not mean tomorrow. It means sometime in the future...maybe. The plumber who promises to return "mañana" to finish the repairs to your leaking faucet may, in fact, be back tomorrow, but you'll find life much less frustrating if you don't take this kind of promise too literally. I've learned to believe no one when it comes to scheduling (of repairs, of meetings, of deliveries). This way, if someone or something shows up at the discussed time, I'm pleasantly surprised.

  10. Panama, like most of the world, has no Multiple Listing Service. This requires an important adjustment in your approach to any property search.

  11. Panama does, on the other hand, have bugs, snakes, spiders, and dengue fever. You will be bitten by mosquitoes and other insects in this country. If you spend any time in the jungle, you'll likely see a snake. I was bitten last year by a poisonous spider and had to spend a half-day in the Emergency Room on an IV. Our housekeeper Olga was stricken with dengue last month. She was seriously ill for two weeks but is now fully recovered.

Kathleen Peddicord

----------

Live Overseas in 2012

It's time to stop thinking about it...time to stop dreaming about it...time to make it happen.

Get out of your armchair and get moving.

Discover what millions of expats already know: In the right destinations, the values are great, and the lifestyle is extraordinary.

Here is the help you need, the top resource available anywhere to help you map out a plan for your new life in the overseas haven with your name on it.

From France to Belize, from Malaysia to Ecuador, from Mexico to Thailand... complete and in-depth reports on the world's top retirement havens for 2012, including full details on residency, health care, taxes, and itemized monthly budgets.

Go Here Now For Our Brand-New Guide To 2012's Top Retirement Havens

----------

Continue Reading:

ExpatDailyNews

Kathleen Peddicord's
New Book


BookCover

The Wall Street Journal says: "If you're thinking about living abroad in retirement, this book is essential reading..."

"Whether you're in the 'what if?' stage, or have graduated to an investigatory visit, or are now seriously intending to live overseas...the book How to Retire Overseas will be one of your essential resources." ---Rapid River Arts & Culture (Asheville, NC)
Order Now

BannerLosIslotes

BannerInsidePanama

 

Enter Your E-Mail:

Overseas Radio Show

Banner

Search

Readers Say

"I have to say that you seem to dig deeper into the feel of a particular place and to do comparative analysis between alternative places. Your approach is more sophisticated and thoughtful and therefore more useful than that of other information sources covering these same subjects."

— John W., United States
"I particularly appreciated your information today about the joys (?) of international rental property. What I admire is your honest, tell-it-like-it-is approach. A lot of people have been hurt by nothing but glowing reports about offshore living from various sources. Your honest, direct approach is a real service."

— Arlean K., United States

Kathleen Peddicord

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.

Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

Read more here.

SIGN UP TO OUR FREE E-LETTER

Sign up for the Overseas Opportunity Letter

Receive our editor's latest research reports...absolutely FREE!

letters The Best Places For Living And
Investing in the World for 2012