Results 1 to 7 of 7
  1. #1

    Panama Retirement: Couple living ‘very comfortably’ on $1,200 a month

    Link: https://www.marketwatch.com/story/i-...th-11633001564

    >>

    The budget

    In Florida, the couple was spending $3,000 a month on just the basics, never mind clothes and restaurant meals. In David, it’s between $1,100 and $1,200. Extra costs are minimal; they’re not big restaurant goers, so it’s mainly flights back to the U.S.They rent a home — 3 bedrooms, 2 baths across 900 square feet plus a yard full of fruit trees — in a nice middle-class neighborhood for $385 a month, water and trash collection included. In Panama, it’s the norm that an unfurnished house means you supply the refrigerator, the stove and the washing machine.

    The kitchen stove runs on a gas canister similar to that for an American gas grill — typical for Panama — and costs $5.12 for a refill, usually needed monthly. Internet and cable television together is $46 a month. Insurance for their cars — liability coverage only because they are more than a decade old — is nearly $300 a year.A basic, good Panamanian lunch costs about $4, she says, while the nearby fancy Italian restaurant could be $40 per person. Their favorite restaurant costs no more than $10 apiece. The $45 she recently paid in the U.S. for a meal for four of three hamburgers, chicken nuggets and something to drink would cost half that or less in Panama, she said.“We’re not living poorly here, We’re living very comfortably.”

    Healthcare

    Cunningham and her husband have opted to pay for healthcare out of pocket, saying they are healthy and not on any medications, and they set aside money for emergencies.A doctor’s visit costs $40 to $50, she says, and she pays $30 to get her teeth cleaned.When a spot on her tooth turned into a big cavity, gum surgery, a root canal and a crown, handled by three dentists, “it ended up being less than $900 for the whole shebang,” she recalled.

    You need a visa to live in Panama

    Panama’s rules have changed since Cunningham arrived. While you can stay for 180 days as a tourist, you can’t keep living in the country as a tourist, she says. Panama does require that individuals can document $1,000 of verifiable income each month plus another $250 for each dependent, she says. That could be a Social Security check or a government or private-sector pension. Here is what the Panamanian embassy lists as requirements.The visa comes with various discounts for retirees, including for flights.
    If the standard retiree visa doesn’t work for you, consult a lawyer about other options. You can also contact the nearest Panamanian consulate with your visa questions.


    Advice


    Cunningham freely admits there will be frustrations. Workers may not show up when you expect them, and meetings can start late. It will be noisier, too — loud music that goes on late, roosters that crow, dogs running down the street. Depending on where you live, you can be dealing with regular outages of power, internet, even water.Then there are more mundane differences. Favorite brands may be unavailable. Clothes and shoes that fit can be hard to find because Panamanians tend to be shorter and thinner than Americans.

    The weather in David is hot but, she says, more comfortable than in Florida, which also got cold.Many Americans opt for mountain living in Boquete, where there’s no shortage of happenings in English and the workers speak English. Still, she’s seen many people come and go. Some leave fed up with what they perceive as inefficiency or bureaucracy, or they miss the grandchildren, or they want U.S. healthcare. (Medicare can’t be used overseas.) “Sometimes I think they wanted the life they had in the States but cheaper,” she says.Her advice? Chill. Adapt to the culture, and you’ll do better at getting what you want.“To make this work, you have to know it’s not going to be the same” as living in the U.S., she adds. “You just have to realize you’re taking a leap of faith into the unknown, and you just have to go with it.”

  2. #2
    Senior Member mgtower's Avatar
    Join Date
    Mar 2019
    Posts
    3,953
    Reputation
    12112
    Type
    Ghosted by law and order.

    Re: Panama Retirement: Couple living ‘very comfortably’ on $1,200 a month

    Panama? I rather live in Moldova! Come to think of it, Siberia! I hate tropical jungles! Jurassic Park come to life! I'm a forest dweller with 6 months of insect reprieve! I'm begging for an early hard frost/freeze to kill all these biting, stinging, blood sucking bastards!

  3. #3
    Senior Member
    Join Date
    May 2014
    Location
    Bumfuck, Egypt
    Posts
    2,363
    Reputation
    9323
    Type
    Ghost

    Re: Panama Retirement: Couple living ‘very comfortably’ on $1,200 a month

    Not that I'm some expert, but I still think Panama would be better than some dirt poor island.

    Though I had a bike, I didn't see much of Panama outside the canal zone. But after reading this link, Both David and Boquete sound good. I suppose it was slanted that way, being a tourist link and all. Still, it looks promising.

    I wasn't aware there were mountain towns in Panama. Most settlements are on the coast. What pass's for hills in Panama are not that big, that's one reason the canals there. But I guess their tall enough to make the weather a bit nicer in this Boquete place.
    Last edited by frog; October 8, 2021 at 4:01 PM.
    Every day I make the world a little bit worse.

  4. #4

    Re: Panama Retirement: Couple living ‘very comfortably’ on $1,200 a month

    Close to a hundred thousand expat retirees have settled in Panama. Everything in the above article is true. Panama is a world banking capital, and the currency is the US dollar.

    Costa Rica has two enclaves of American retirees. About 80,000 live in a newly built extension of the capital of San Jose. It is called Ezcazu, and it looks like a nice neighborhood in San Diego or South Florida. Lots of 6 story condos with shops and restaurants on the first floor, and 5 stories of apartments. The other enclave is on the northern Pacific Coast.

    Foreigners moving to Costa Rica can make-up payments to the national health care program for just a few dollars and get all benefits other retirees get. It is pretty good care for everyday stuff, but anything serious, a short flight from the capital will put you in Los Angeles, Houston, or Miami for things requiring top-flight care. However, over the last two decades, there has been a great deal of "medical tourism," with doctors and clinics, often 1st world trained catering to expats and tourists who want first world medical and dental work done at 2nd world prices.
    An escort is a woman you occasionally financially support only when she has sex with you.

    A date is a woman you occasionally financially support in the hope she will have sex with you.

    A wife is a woman you constantly financially support even when she is not having sex with you.

    An ex-wife is a woman you constantly financially support with alimony so she can have sex......with someone else.

  5. #5

    Re: Panama Retirement: Couple living ‘very comfortably’ on $1,200 a month

    Quote Originally Posted by sam luis obispo View Post
    Close to a hundred thousand expat retirees have settled in Panama. Everything in the above article is true. ... there has been a great deal of "medical tourism," with doctors and clinics, often 1st world trained catering to expats and tourists who want first world medical and dental work done at 2nd world prices.
    Panama sounds great. There was a MGTOW who posted some time ago about being on a small disability allowance and having to eat ice-cube sandwiches. I hope he reads this article and considers Panama as a possible option.

  6. #6
    Senior Member
    Join Date
    May 2014
    Location
    Bumfuck, Egypt
    Posts
    2,363
    Reputation
    9323
    Type
    Ghost

    Re: Panama Retirement: Couple living ‘very comfortably’ on $1,200 a month

    My experience is 50 years old, things have no doubt changed. But how much?

    Locals drove hard. Just having a car back then made you some kind of big deal, and nobody was telling them how to drive. They was pretty good at it, so things were actually safer than it looked. I've heard it's not so wild west anymore. Still, Panama City's big, their no doubt nuts.

    Don't mess with the Panama police. I didn't, but I heard it never went well. I got a ticket or two. Went down to the station and payed up, while keeping my Yankee mouth shut. Back then their prison was about like what you used to hear about Mexican jails. If you had money, you could buy a piece a cardboard to keep you out of the piss. Hopefully things are better now, but you know these smaller county's don't want to spend any more on jails than they have to.

    Both the women in this piece had better homes than we would need. One had a downtown apartment in Boquete, and the other bought a huge house in David for her and her daughters. So you could save a little coin renting a lesser house. The outskirts of David would be cheaper yet.

    The article mentioned that people didn't always stay. Most probably miss their former home more than they figured they would. Or they get sick of how Panama does things. In the 18 months I was there, the changing of the seasons is what I missed most. Panama's only got two, wet and dry.
    Last edited by frog; October 9, 2021 at 3:50 PM.
    Every day I make the world a little bit worse.

  7. #7

    Re: Panama Retirement: Couple living ‘very comfortably’ on $1,200 a month

    Some people get homesick. One answer is to split your time between there and here. Perhaps a small apartment in a small town with a mail service? Perhaps an RV with a good storage place to put in in when you are down there? Perhaps a friend back in the states will rent you a room in his house? But you have to travel light.

    "You can't take it with you." If you are a pack rat, you will have to down-size and get rid of a lot of stuff, because bringing it down there will be costly.

    Also, rent, don't buy. It is so easy to get ripped off. So, rent an apartment or house and be able to walk away on a month's notice if things go bad in that particular place. Also, if you rent, you can spend some time there, go back home, then come back. But you have to travel light.
    An escort is a woman you occasionally financially support only when she has sex with you.

    A date is a woman you occasionally financially support in the hope she will have sex with you.

    A wife is a woman you constantly financially support even when she is not having sex with you.

    An ex-wife is a woman you constantly financially support with alimony so she can have sex......with someone else.


Similar Threads

  1. We don't care if you went to Panama City bitch.
    By Taxicollector in forum Lounge
    Replies: 4
    Last Post: January 15, 2019, 1:03 AM
  2. Raise Retirement Age for Women
    By ChewStar in forum Lounge
    Replies: 1
    Last Post: May 3, 2018, 8:44 PM
  3. Retirement Plans
    By riki12345 in forum Lounge
    Replies: 16
    Last Post: June 18, 2017, 2:59 PM
  4. Planning retirement, and moving abroad.
    By Eskorteprinsen in forum Lounge
    Replies: 20
    Last Post: May 11, 2017, 4:15 PM
  5. Retirement planning - by Aaron Clarey
    By Chairborne in forum Random (Non-MGTOW subjects)
    Replies: 12
    Last Post: July 16, 2014, 10:36 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •