my husband and I are considering retiring from U.S. to Panama, can we make it on $2500 a month?
we are going to visit next month, we would like to live in one of the beach communities (eg coronado). Can we rent a place instead of purchase
we are going to visit next month, we would like to live in one of the beach communities (eg coronado). Can we rent a place instead of purchase
yellowstone
Favorite Answer
I think you can make it better than you could in the U.S. for the same money.
OC
Hi there,
I spend a lot of time in Central America and South America and not too long ago was in Panama for a couple of months. Nice country and pretty inexpensive. There are a number of benefits for retired people in Panama (these benefits also apply to foreigners). When you move to Panama, do NOT purchase any property within the first year because you wanna check make sure that you chose the right country, the right city, that you like everything, that you get a good price, etc. This applies to any country of course. Rent a place the first year or so and then decide what you would like to do.
And yes, you can live very well in Panama for $ 2,500. a month.
Pili
It depends on what your profession is. If you want to make $2500 a month you should have experience and work in the city, or you can start your own business near the beach. Beach communities are pretty different, some are expensive, some are not. You just have to look for the one that fits you better. Panama is a beautiful country with many beaches. You can easily rent a place. A tip I can give you is to search for beaches and housing on the internet so you can visit them when you come and then take a decision. Here is a link that can help you http://www.encuentra24.com/panama-en/classifieds
wcruzq
Dear,
Technically you can make it on $2,500 a month. That will depend on your lifestyle. If you are making it right now in the US with $2,500 you can definitely make it here. If you're not making it right now you should look into why you're not making it, because moving might not be the solution.
The good part is that $2,500 will qualify you for a Pensioned Tourist Visa in Panama, which grants you permanent residence. You will also get other benefits which include discounts on a lot of things including goods and services.
I also agree that you should consider renting before making a decision. Also when you make a decision make sure that you are working with "your" money. Not stocks, not lines of credit, loans, etc. I've seen a lot of people losing everything, or being very uncomfortable because they ran out of money.
Panama is a lovely place, but you need to get used to it. Some people make it and some don't.