Pensioner’s Paradise

The countdown is on.

Lief and I have been based in Paris since April. We came for the arrival of our second grandchild (Persephone is beautiful, healthy, strong, and now four months old)…

We stayed through spring… summer… and the Jeux Olympiques…

We enjoyed an extended excursion in Turkiye…

Oct. 16-18 we’ll be in Porto, Portugal, for Lief’s Offshore Wealth Summit…

Then, after too long away, we’ll reposition to Panama.

Time to swap the City of Light for the Hub of the Americas.

A life split between Paris and Panama might seem unlikely, but Lief and I prize contrast. We’ve worked for more than two-and-a-half decades to engineer what for us is the ultimate lifestyle, balancing Old World café culture with New World adventure.

I’ve wanted to live in Paris since I was a young girl.

My enthusiasm for Panama came later.

Lief and I chose to diversify our lives and our family’s future in this country because it rewards foreign investors and entrepreneurs. Panama treats money well.

The better we’ve gotten to know the isthmus over the past 20 years, the broader our appreciation has grown.

We’ve found that Panama is not only a great place to grow capital and build a business… it’s also a #1 choice for living the good life and retiring up.

Why do we call Panama the “pensioner’s paradise”?

Here are our top eight reasons:

#1: The Weather—It’s Always Warm

Tired of feeling cold… or worse, having to scrape ice off your car?

Then you’ll love Panama. Being a tropical country, it’s warm and sunny here all year-round.

The average annual temperature ranges between 77-82°F (25-28°C) in the city and along the coasts, while in the highlands you can expect cooler, “spring-like” temperatures of 63-70°F (17-21°C).

Panama City can be too hot and sticky for some retirees’ tastes, but, look beyond the capital, and you find pockets of near-perfect climates in some regions.

If you prefer cool mountain temperatures to warm sea-level ones, consider the towns among the highlands and mountains, including El Valle, Santa Fe, and Boquete—one of the one of the world’s most popular expat retirement destinations.

#2: The Affordability—Beach Living For $1,537/Month

Can you afford to live in Panama? The simple answer is yes.

But the better answer is that it depends…

On what you’re looking for in a home, what you want to do for recreation, and, above all, where in Panama you want to live.

Pedasí, for example, on the east coast of the Azuero Peninsula, is, depending who’s behind the wheel, four to five hours’ drive from Panama City.

Your reward for going the distance is a quaint town that is home to one of Panama’s friendliest and most welcoming communities.

Your cost of living could be well under $1,500 a month for a simple yet fully appointed lifestyle.

The cost of living in Pedasí is remarkably low for two reasons…

First, rents are cheap. You can rent a small house near the beach for just a few hundred dollars per month.

Second, there’s not much here. Resident in Pedasí, you won’t spend much money… because there’s not much to buy!

This, however, is changing. Until even a couple of years ago, Pedasí was very much a Panamanian town. It has recently been discovered, though, by retirees in search of a simple and affordable life at the beach, and an eclectic expat community is emerging…

This means more expat-friendly restaurants, bars, and shops, more English spoken, and more fellow expats (both retirees and, also, a younger, entrepreneurial crowd) to enjoy life at the beach with you. Meanwhile, the surfing, windsurfing, fishing, and diving here is also luring tourists more and more.

It all adds up to perfect destination for retirement or a slower pace to life near the ocean…

#3: The Beaches—You’ll Never Be Able To Count Them All

The name Panama is said to mean “place of many fish.” Of course, where’s there’s plenty of fish there’s plenty of water…

And Panama hit the jackpot when it comes to bodies of water—this little country boasts not one but two long ocean coasts…

On one side, you have the dramatic Pacific Ocean. You’ll find sandy beaches and spectacular shows of nature as the waves batter the coast and throw spray (and sometimes surfers) up into the air. This side of the country’s coasts are well developed and connected to the modern capital city by a highway.

On the other side, you’ll find the relaxed, calming, and crystal blue waters of the Caribbean Sea. This is the paradise coast… palm trees, powder white sand beaches, and plenty of Bob Marley and Jimmy Buffet drifting through the air. This Caribbean coast is much less developed and a bit harder to access, but that just proves it even more as an escape from the world…

You’re truly spoiled for choice when it comes to beaches here in Panama.

#4: The Ease Of Settling In—Familiar… With Expats Galore

The retirees’ path in Panama is well-worn.

This country has been attracting foreign retirees in growing numbers for over two decades and I hope this list you’re currently reading helps explain why.

Of course, many of the folks moving here are entrepreneurs or expats who’ve come to work (at one of the dozens multinationals) or to raise a family (thanks to the dozens of international schools). Again, Panama offers folks with just about every agenda an easy way to settle down here.

The currency in Panama is the U.S. dollar, so U.S. retirees have no currency-exchange risk or confusion to worry about.

You can also get by without speaking Spanish. I don’t recommend it, but, in Panama City and certain expat enclaves, you don’t have to learn to speak Spanish if you don’t want to.

The infrastructure is of a high standard. This is a place where things generally work—the internet, cable TV, phone service, etc., are all the most reliable in the region. The roadways and highway systems are being constantly expanded and improved. ATMs are on every corner.

Panama City is also an international travel hub, very accessible from North America. Flights from Florida, for example, are as short as two-and-a-half hours.

#5: The Health Care—Johns Hopkins Is Here

Let’s start with quality… health care in Panama is of an international standard, and Panama City is home to Hospital Punta Pacífica, the only hospital in Latin America affiliated with and managed by Johns Hopkins Medicine International.

Small clinics handle everyday ailments, and every doctor we’ve ever met has always been friendly and as helpful as possible, and that includes speaking English most of the time.

As far as costs, I should first point out that Canadian and U.S. Medicare aren’t honored in Panama (or anywhere else abroad). Commercial insurance policies such as Blue Cross and Blue Shield, United, and Humana also aren’t accepted unless it’s within their specialized international group (you wouldn’t have that kind of policy without knowing it).

Local Panama health insurance (which can be good, comprehensive coverage—all you need living in this country) can cost less than $100 per month… while international coverage can go for two to three times more (and much more if you include coverage inside the U.S.)

Regardless, if you’re an American, you’ll be blown away how low medical costs are here. Like everything, medical costs are higher in Panama City than elsewhere in the country, but, even in the capital, a doctor’s visit costs $50 or less.

#6: Beauty and Adventure—This Is A Natural Wonderland

A country with two long coasts—one with crashing Pacific waves and the other with crystal-blue Caribbean waters—is enough to pique any nature lover’s interest…

Panama is also filled with rainforests and jungles…

And it has countless islands on both sides of its shores. Around the island of Coiba, you’ll find the largest coral reef on the Pacific side of the Americas.

Panama also has a mountain range running down its length, complete with an active volcano! Worry not of a Pompeian ending to your retirement, though… Volcan Baru is classified as dormant, with its last eruption taking place at least 500 years ago.

What else? Because of its unique geographical position, Panama harbors a greater diversity of wildlife than any other country in Central America. A natural land bridge connecting the two continents, Panama is home to both North and South American species of wildlife. About 29% of the country’s land area is protected in 14 national parks, more than a dozen forest reserves, and 10 wildlife refuges…

Panama is home to more than 940 species of birds as well as 220 mammals and 354 reptiles and amphibians… from howler monkeys to caimans, from tiger cats to turtles, from ocelots to crocodiles, and from pelicans and toucans to king crabs and iguanas…

Plus, you’ll find the Central American tapir, the American crocodile, the scarlet macaw, many species of eagle, humpback whales, dolphins, and hammerhead sharks…

#7: Things To Do—You’ll Never Go Bored Here

One of the things that is often overlooked when picking out a place to live abroad is activities…

You generally have a few categories for activities: cultural and historical, sporting and outdoor, and shopping and nightlife.

Panama boasts all the above.

Now, while you won’t find “high” culture in the form of world-class art museums or Broadway-quality plays…

You’ll find plenty of history and eco-tourism here, thanks to multiple World Heritage Sites (Casco Viejo, Panama Viejo, and the forts of San Lorenzo and Portobelo) and UNESCO Natural World Heritage Sites (the province of Darién, Coiba National Park, and the La Amistad Reserve).

Casco Viejo, the ”old town” in the capital, is the rare place with both Spanish- and French-colonial architecture. These days, Casco is arguably the nicest part of the city, with the trendiest nightlife, the most walkable streets, and the nicest restaurants. Panama Viejo, on the other hand, has been left more or less the same ruinous state since famous pirate Captain Henry Morgan sacked and burned it in 1671.

And, of course, I strongly suggest you see one of the wonders of the world, the Panama Canal. You can pay to go through the canal on a boat, but you can also go for a ride in the lake that makes up part of the canal—be sure to check out Monkey Island… just watch out for the mischievous little apes that’ll jump on your boat!

Speaking of outdoor activities, I can say everything is here except winter sports…

You can golf with a mountain backdrop or by the ocean on one of the 15 courses in the country (including one designed by Jack Nicklaus).

Panama boasts some of the world’s best surfing, snorkeling, diving, sportfishing, birding, boating, and adventure opportunities anywhere on earth.

You can ride ATVs or horse on the sand… or jetskis and windsails on the water. You can opt for tennis and pickleball… or lasertag and paintball.

And, on a clear day, a hike up Volcán Barú will allow you to see both oceans.

Finally, with casinos, clubs, bars, and restaurants found everywhere, as well as luxury shopping including Louis Vuitton, Hermes, and more… Panama City is the top destination within Latin America for nightlife and shopping.

#8: Stable Politics And Economy—Virtually Guaranteed By The USA

A few big things mean Panama will always be one of the most stable countries in Latin America…

First, with the US dollar as the currency in Panama, you won’t have to worry about the government getting itself into trouble like so many others have.

Second, the Panama Canal is critical to the world economy. Frankly speaking, the American government will not allow any political instability to upset that…

Finally, many Latin countries rely on tourism to power their economy. Not so in Panama…

Its position is too strategic to ignore for multinationals. And so dozens of them are here, from John Deere to 3M.

Their presence has helped foster the giant banking sector here, which has led to a boom of international law and tax firms.

Panama is, in a word, prosperous. And the great thing? The government is in a rare position of not being able to mess it all up.

Until next time,

Kathleen Peddicord

Founding Publisher, Overseas Opportunity Letter