It is hard to follow social media and news outlets without thinking that our world has been turned upside down. Some places have rioting, fighting, looting and how could we forget this horrible thing called Covid-19. Because of all this, some have begun to do some deep reflection and even started wondering if now is the time to move to a different country to start a new adventure away from the madness.
This is the perfect time to seriously consider moving to beautiful Panama. You may even be able to retire early because the cost of living is so much more affordable in Panama. Life is much more tranquil in Panama.
WHERE WOULD YOU LIVE
Because of Panama’s diversity, there is something for everyone. Whether you prefer the warmer weather of the beaches or the cooler temperatures of the highlands, you can find it in Panama.
If a vibrant nightlife is what you are looking for, the capital city of Panama may be a perfect fit for you. There are many different residential communities in Panama City and each one has their own vibe. Belle Vista and El Cangrejo are especially popular with expats.
If you’re looking for a more upscale beach community, you should check out Coronado and the surrounding beach towns like San Carlos. Coronado has a thriving expat community, a lot of amazing restaurants and just about every amenity that a North American would need to feel at home. Rental prices for a high rise condo facing the Pacific Ocean start at about $1200 a month for a furnished two bedroom. That price does not include electricity which could be from $50 to $350 a month depending on how much you use your air conditioner.
Perhaps you’d like a town with Spring like weather (no air conditioner needed) where you can walk almost everywhere. Boquete would be a perfect fit. It is also a town with a lot of social activities, great restaurants and many places where you can listen to live music at multiple venues. Boquete is in the mountains where the temperatures range between 65 at night to a high of 80 during the day. Boquete has a population of about 25,000 with an estimate that 4,000 are people from other countries. A nice furnished two-bedroom rental will start at about $700 in Boquete.
If you’re looking for a slower pace of life, then Volcan in the highlands would be ideal. Or, if you prefer warmer weather and beaches, the towns between Chitre and Las Tablas in the Azuero Peninsula would be a good fit for you. Both of these areas are super affordable too! You can get a nice furnished one bedroom house with all utilities included for less than $350 a month and a furnished two-bedroom will be $500 a month.
HOW TO MOVE TO PANAMA
If you make at least $1000 a month in lifetime income (like Social Security), you can retire in Panama. A couple would need to have $1250 per month in lifetime income. There are plenty of places you can live on that income. The famous Pensionado Visa will help your income go even further because you’ll be able to take advantage of discounts on restaurants, pharmacies, airfare, doctors, hotels and utilities. The Pensionado Visa also entitles you to live in Panama indefnitely. We have more details about getting a Visa in our FREE Living and Retiring in Panama 12-part email series which you can get here.
If you have more income to work with you’ll have more choices when you move to Panama.
Since 2010, we’ve been helping people relocate to Panama the stress-free easy way.
THERE’S SOMETHING FOR EVERYONE… IN EVERY BUDGET!!
After going on a Panama Relocation Tour or getting the information in the Online Panama Relocation Guide, you may decide to take that leap of faith to move to Panama and be “all in.”
But some decide to give Panama a “test drive” for three to six months to make sure Panama is right for them before making a permanent move. You may even want to try out several different areas in Panama before you make your final decision.