Retirement Planning - Why Everybody Wants to Settle Down in Panama After Retirement

Panama, which is already very popular as an eco andfacilities, many of which are associated with major
adventure tourism destination, is now gaininghospitals in the U.S., are also available and are
reputation as one of the best places to settle downconsidered amongst the topmost in Central America.
in after retirement. According to Modern MaturityAdditionally, potable water is available in most parts
Magazine, published by AARP (American Associationof the country, while it can be drunk right from the
of Retired People), Boquete, a Panamanian town, hastap in the cities.
been ranked fourth among its list of the world'sOne of the main concerns retirees have is how to
fifteen best retirement destinations for Americans.make the most of their retirement money. Panama's
Panama's attractiveness as a retirement location iscurrency has always been the U.S. dollar. Panama also
not hard to define. Most people find it easy to settleboasts having the branches of most of the major
down here because of the country's easygoinginternational banks. Plus, the cost of living is
lifestyle, high quality living, incentives given to retirees,affordable and a good deal less than in the U.S. and
along with modern facilities and services.Europe. Also, retirees get generous discounts like 50
Apart from all that, Panama also scores because thepercent on cultural events and movies, 30 percent on
country is so incredibly lovely. Because the Isthmus istransportation, 25 percent on airline tickets, 25
located at the juncture between northern andpercent on utility bills, 20 percent on doctor's bills, 15
southern America, the diverse plant and animal lifepercent on loans in your name, 10 percent on
found here is unique. The residential locations aremedicines, and 1 percent on mortgages in your name.
equally diverse, ranging over mountain, city,Staying in touch with family, friends and the world is
beachfront and even island settings, so that peopleeasy. Cellular telephone networks, high-speed Internet
can find a place according to their taste and choice.connection, and ADSL in-home telephone facilities are
Plus, although a foreigner, you have the samereadily available, along with cable TV. As for
protections and rights to purchase and own propertyaccessibility, the Tocumen International Airport is
as a Panamanian.serviced by most major airlines like Delta and
Also, because of various factors, such as theAmerican. In addition, COPA, Panama's international
American military pulling out of the area, the realairline, has services to 29 cities in nineteen countries,
estate prices in Panama have not changed muchand also has direct flights from Los Angeles, Houston,
since the 1990s, except for some places like theMiami, Orlando and Newark.
Bocas del Toro archipelago islands and Boquete,And to top it all, getting a retiree visa is an
which have become hot destinations.inexpensive and simple process. The only things you
As for safety, which is one of the most importantrequire are a "clean" report by the police of the place
considerations of retirees, Panama has been ratedyou resided in before moving to Panama, a health
the highest for the safety of tourists by thecertificate from a Panamanian physician, along with
reputable Pinkerton Intelligence Agency. Plus, Panamaproof of $500 per month of personal income, plus
is a stable democracy and has a vibrant economy.$100 if you have any dependents.
Regarding standards of health care, Panama is rankedAs is evident by all the above mentioned benefits, it
amongst the topmost in Latin American countries.is easy to understand why Panama is so popular as a
Many Panamanian physicians have had their training inretiree destination.
the U.S. and Europe and are bilingual. Private medical