There are plenty of reasons to move to a different country. Some move for political reasons, and some move for a new adventure. However, most people move for one simple reason: they can live on less money. Living in a place with a lower cost of living can alleviate a lot of stress, especially for retirees.

My living costs in Panama are less than I was paying 15 years ago in the US!

When I was considering a move to Panama in 2009, I realized that if my electric bill was $400 a month now, what would it be like in 5-10-15 years? If my property taxes were $2200 a year now, what’s it’s going to be like in 5-10-15 years?

In the US, my car insurance, property insurance, TAXES, health insurance, grocery bills, and other expenses increased annually. I could see that it was not sustainable!

In Panama, my electric bill is rarely more than $25 a month. My car insurance is $540 a year for comprehensive coverage. And I pay just $117 a month for health insurance! My house insurance is only $205 a year in Panama! I pay significantly less now than I did 15 years ago in the US!

You can still buy a house for less than $100,000 in many parts of Panama!

You can reduce your living costs too!

Relocating to a more affordable country like Panama will allow you more peace of mind. If you’re feeling anxiety about your income, savings, or retirement planning, you might consider becoming an “economic refugee.”

Prices in North America and Europe are increasing so quickly, it’s not sustainable– especially for retirees!

Economic refugees are those looking to change to a more affordable lifestyle. Mainly, they want their money to go further. Panama is the solution!

Many want to retire with what they have now instead of waiting until they have a hefty savings account. If you’re seeking a comfortable life without a huge price tag, you may consider becoming an economic refugee in Panama.

Of course, you can still live a high-end lifestyle in Panama areas in Panama. The photo above is an exclusive high-end gated community in Boquete called Valle Escondido.

There is something for everyone in every budget in Panama.

Why Move to Panama?

There are plenty of reasons to move to Panama. While we know that change is hard, it’s usually a necessary part of life.

So, if you’re looking for a new adventure and some peace of mind regarding finances, then you might be interested in moving to Panama.

Many people in the US and Canada are concerned about saving enough money for retirement. If you’re already retired, you may be anxious about making your savings or monthly income last. Well, when you live in Panama, you certainly don’t need $500,000 or more in savings to make the move.

Many couples in Panama live well on $2000-$2500 a month, including rent. If you’re single, you will need even less to live in Panama

Your lifestyle will greatly affect the amount of money you spend. However, you will enjoy a much lower cost of living in Panama.

Of course, if you want more luxury and convenience, you’ll have to pay more. But, we can assure you that you’ll be spending less in Panama than in the US, Canada, and many parts of Europe. You’ll get more for your money in Panama.

Quality and affordable healthcare

For most in the US, healthcare is a huge financial concern. Without proper healthcare, one accident or illness could leave you with no savings or serious debt. Many people look for alternative options in other countries.

Panama is a haven for retirees for many reasons–healthcare being one of them!

In Panama, you’ll have access to excellent hospitals. You can have a dentist, dermatologist, or any other medical visit at a fraction of the cost. However, if you’re on certain prescription medicines, you’ll want to ensure they’re available and affordable before leaping.

Panama has private and public hospitals. You can see a doctor at a public hospital for as little as $2 or a specialist for $5 —without insurance! Or, you can see a doctor at their office for as little as $20 with no insurance and no appointment necessary.

Just last month, I got my teeth cleaned for $42.50 (without using insurance)

Fresh Affordable Food

Panama, renowned for its vibrant biodiversity and tropical climate, offers a unique advantage to its residents: an abundant supply of fresh food year-round. The country’s location near the equator ensures a consistent environment, which allows for a 365-day growing season. This perpetual growth cycle means that fruits, vegetables, and other crops are continuously harvested, providing an endless supply of fresh, nutritious produce to local markets and homes. And it means that food is more affordable too!

The variety of fresh food available in Panama is astounding. Tropical fruits like mangoes, papayas, pineapples, and bananas flourish alongside a wide range of vegetables such as tomatoes, cucumbers, peppers, and leafy greens. Panama’s rich soil and favorable weather conditions support the cultivation of these crops, ensuring they are available at their peak freshness throughout the year. This constant availability of fresh produce contributes to residents’ health and well-being and adds a vibrant and diverse array of flavors to the local cuisine.

In addition to its agricultural abundance, Panama’s coastal waters provide a plentiful supply of fresh seafood, including fish, shrimp, and lobster, which are available throughout the year.

The combination of fresh, locally sourced produce and seafood makes for a rich culinary experience characterized by freshness and variety. Whether enjoying a meal at a local restaurant or preparing dishes at home, residents and visitors alike can savor the benefits of Panama’s year-round growing season and the constant availability of fresh, delicious food.

New Adventure

Enjoy a new adventure with better weather! There is no snow or hurricanes in Panama!

There will be some adjustments moving to a new country—but that’s part of the fun! When you move to Panama, you’ll not only enjoy a lower cost of living but also be welcomed into a new culture. This is an excellent opportunity to meet new people from all over the world who have moved to Panama!

Relocating to a new country is certainly exciting, and scary. You’ll be starting all over in a new place. Luckily, your money goes further. So, while you may have to learn the ropes of a new country, culture, and language, you won’t have the financial burden and stress you had in your own country.

Think of the move as financially practical, exciting, and fun. This is a chance to write a whole new chapter in your life. Embrace it!

Thousands of people have left their home countries as “economic refugees” to pursue a better, more affordable, lifestyle. If you’re stressed about affording life in your home country, it might be time to consider making a drastic change like moving to affordable Panama!

Come see how you can
LIVE BETTER for LESS in Panama!

Panama Relocation Tours are experts on the relocation process and have helped countless people realize their dream of living better for less in Panama.

To learn more about relocating to Panama, check out our all-inclusive Panama Relocation Tours. We started doing tours in 2010! The 6-day, 7-night tour will take you from one end of Panam to the others. You’ll see the most popular places to live, see rentals, meet immigration lawyers and real estate agents, plus meet expats in each area who are happy to share their experiences living in Panama.

TripAdvisor ranks Panama Relocation Tours as the #1 tour company in Panama. See the 380+ reviews on TripAdvisor.

If the cost of living is a concern, you should check out our blog, where we discuss the costs of living in various areas in Panama. Search Costs of Living in the blog to find several articles on the topic.

Now’s the time to join the many people who have decided to search for economic refuge, and a better lifestyle, in Panama.

Panama is a haven for not only retirees but also expats of all ages because of its affordability, healthcare, visa opportunities, and beautiful lifestyle. Consider moving to Panama and living better for less!

Join us for an all-inclusive 6-day, 7-night Panama Relocation Tour to see how amazing life is in Panama. See tour details and dates here.