'Reiring to Panama' Chiriqui

Mike O'Dwyer (24.29.31.111) -

We are in our mid 60's and thinking of retiring. One of my co-worker's wife is from Panama. He is encouraging us to retire in Panama. Eveything I have rad and heard supports his claim that Panama is the place to be. We aare interested in the cooler mountain areas. Any recommendations as to towns/ cites / rural areas to consider?

Comment #1 Dar (167.80.246.204) -

Mike

We too are retiring to Panama. We went down and spent 2 weeks researching areas we would like to live. We bought a place in Boquete. It averages 75 year round and is very beautiful and friendly people. You might want to google "retire to Panama" and "Boquete 4 me" also anything like: Benefits of living in Panama, or Expats living in Panama. We researched Panama for a year before we went down to see for ourselves. Boquete is a little more expensive to live but it has a American feel and some really good restaurants. A very good filet mignon cost us $10.00 and we each got 2 on our plates. The fruit is to die for and so is the vegtables. Beef is all natural and organic. Health care is very good and reasonable. Average Dr visit is $25.00. Meds run about 50% less. AARP rated it one of the top 4 places for baby boomers to retire. Not to mention the tax benefits. Do your homework before you go. Keep an open mind and remember, you are a guest in their country. Slow down and be polite and you will not have any issues.

Comment #2 Ron (152.163.40.165) -

"Slow down and be polite and you will not have any issues."

After you've been there for a few years, let us know if that is really all it takes not to have problems. I wish you luck and hope you can tell us in the future that is all it really takes!

Comment #3 Dar (167.80.246.204) -

We have several friends who are living in Chiriqui Prov. and Panama City, David and Boquete. Some have been there four years. And they absolutely love it. Some have retired as early as 50 and the others are in their late 50's and early 60's and have had no issues with the locals. One of our friends in Panama City opened a B&B and have gotten involved with the locals on several occasions and have made some very good friends with them. The last time we were there, they had a BBQ and most of the guest at the BBQ were Panamaian they were very gracious and offered to drive us around and show us the sights. When we went to Boquete we made friends with a couple of local young adults and they have helped us with our Spanish and we are going to help them with their English. They opened their homes to us and we felt very very welcome. We have never been treated badly by any of the people down there. So you see, most people get what they give....I am sure that there are some not so good Panamaians, but you quickly identify those and just don't cause any hassles. We just use good common sense like we would going to areas in the US we are not fimiliar with.

Comment #4 Chuck from Florida (Contact Member) -

My wife and myself are in our early 60's and going to David the end of Sept. We want to check out the area to see if it is a place we would like to retire. I have done a lot of research and am concerned that in when I am ready to retire in 3 to 5 years that I will not be able to afford to live there. We would rent for a while to find what we want. One thing that I noticed is in a lot of areas the houses have bars on the windows. Does that mean it is an unsafe area? my email: foxdev@bellsouth.net if anyone want s communicate directly.

Comment #5 Dar (167.80.246.204) -

Unless you are in a gated community, for some reason, they all have bars on the windows. I do know that some of the locals feel that the Americans are rich and can afford to replace what they have so they won't miss a few things. You get that in the US as well. We were considering buying a home out of a gated community and decided against that as we love to travel and go home several times a year and we love the added protection the gated community provids. Most of your neighbors are retirees and all look after one another. I would go down and purchase your lot and start the building process after retrement. Make sure that there is no stipulation on when your building must begin. Also, always, always, always go through an attorney. Protect yourself, as the locals are always favored in a dispute. All that being said, it is a wonderful place to live and I am sure you will not regret living there. While you are in David drive up to Boquete and take a look. Its only about 1/2 hr from David. David can be very hot, while Boquete averages about 75. Hope this helps

Comment #6 Scott M from McHenry, IL (Contact Member) -

"Looking To Move"

Hello All,

I am seriously considering a big life change. Sell my house and live on the proceeds until I hit 62 (I am 50 now) which is when all my 401k and investment stuff kicks in. The stress of my job is simply killing me.

I should have around $100, 000 and be debt free if I sell.

Obviously I'll be broke in the US pretty quick so I've been looking at various world locations like Thailand, Brazil, Costa Rica etc.

Panama though keeps coming up as a great place.

I am single, never married with no baggage like an ex or kids or anything.

What makes sense to me is to visit first and meet some folks who are actually living down there who might want to help me with the "lay of the land". I'd like to plan a vacation for 2010 so if anyone would like to correspond or tell me if I am completely off base or whatever please reply!

Comment #7 Dar (167.80.246.204) -

"Retiring to Panama"

Scott

First you need to research what the requirements are for living as a retiree in Panama. If you meet those requirements, the benefits are fabulous. They have several types of visas that you can apply for. The most common being "Pensionado Visa." I will use that as an example as I have researched that one for my husband and I.

Age: No issue

Income: As a single person you must show an monthly guaranteed income of $1, 000. per month. That can be Soc. Sec. or a gualified pension for life. It can NOT be 401K or annuity. Those are not guaranteed for life.

If you qualify, the cost of living in Panama is about 1/2 or less what it is here in the states. If you go to other places on this forum, you will see several notes I have posted on cost of living. Medical is great, housing is a lot cheaper. Can rent for $300. to $600 mo.

We are currently trying to sell our home here in Washington state and due to the economy, that has not been easy. As soon as it sells, we're off to Panama where we bought in Boquete. Don't forget, , , , when making your decision on where to retire, look at the weather in that region. That was one of the major factors we decided on Panama. (No major weather issues like they have in other parts of the world. Also crime is very low.) In Boquete it's between 70 & 85 year round.

If you need additional info. Just ask. I check back a couple of times a week.

Comment #8 Scott M from McHenry, IL (Contact Member) -

"Thank you Dar"

To vacation down there do I need anything besides a passport?

There's a pretty good deal I can get for Dec 26 thru Dec 31 to Panama City and my wheels are turning :)

Thank you for your help!

Comment #9 monlouisisland from Mon Louis Island, Alabama (Contact Member) - 01/17/10 18:57

"Retired life in a small fishing village"

My wife and I , early 60s, visited Panama two years ago. It was raining quite hard and we didn’t get very far out of the city. Wish we had. Anyway, we are planning to return again in March 2010, hoping to avoid the wettest portion of the rainy season. We would like to determine if it is a place we’d like to live. She was born outside the US. I lived outside the US as a kid and she and I were on assignment in Asia for 3 years with IBM. We did a lot of travel in Asia.

We are not the types to buy an “American” style house or make any display of wealth. Rather, we enjoy living in a smallish fishing village, acquire food from the wet market, learn and enjoy the local ways and try to fit in. (This is how my parents did it in Puerto Rico when I was a kid)

We would appreciate any and all observations and guidance about which village/town you may have visited and found interesting with (colonial architecture) local residence one can rent for three to six months. We would enjoy a quietish type place and don’t need any significant production type entertainment.

We would appreciate any advice any of you could offer.

Please post your email address with your response so we can continue continue dialogue offline.

Thanks,

Peter

Comment #10 Dar (167.80.246.204) - 01/21/10 10:33

"Retiring"

Peter

First let me say, you will love Panama. We purchased in Boquete. Try doing a little research on Boquete. Also you might want to look at Bocas del Toro. Both are wonderful. Both have the local feel. Bocas is more rich and diverse in natural resources. Long Beach in Bocas is the nesting place for turtles. The Ecosystems in the Archipelago region is the best in Panama. In Boquete there is lots to do as well. Very rich in the local feel, with outdoor markets and fresh fish. We landed in Panama City and stayed our first 3 days in a bed and breakfast. Then we rented a car and was off up the Panamerican Highway for an additional two weeks. Had a wonderful time. You drive to David then turn right up the road to Boquete. You can also drive to Bocas, but the road is currently under repair. You might want to fly from David to Bocas. They have daily flights. Hope this helps.

Comment #11 Elizabeth from Boquete, Panama (Contact Member) - 02/06/10 18:07

"gated or not?"

We have lived two years in a NON gated areas in Boquete. No bars on the windows. We feel fairly safe because we live in a Panamanian area and know our neighbors. However, we do not keep cash or valuable items in our home and tuck our laptop away, just in case. I know of people who have been robbed in Gated communities as well as in isolated mountain areas. You really can't guarantee safety and have to be smart. But speaking only for myself, I prefer closer to town and close to Panamanian neighbors.

Comment #12 Arlo from Colorado, USA (Contact Member) - 03/11/10 02:09

"DAR (or anyone else who has an anwer)"

Having lived in Colorado for many years, I kinda like the dryer climate (but not the cold). I know it rains a LOT in Panama, so I'm wondering "How bad is it?". If the rainy season is similar to Costa Rica's (sunny mornings, rainy afternoons, no rain evenings) - I could probably handle it.

Comment #13 Arlo from Colorado, USA (Contact Member) - 03/11/10 02:22

"Slow down ..."

And DAR - "Slow down and be polite and you will not have any issues." - I agree. It may not be ALL it takes, but it's a big factor. Life's a mirror.

Comment #14 Dar (167.80.246.204) - 03/11/10 11:48

"Weather in Panama"

Yes you do get rain in Panama. But the amount depends on the area you live in. More in the highlands than coastal areas. You can go days without rain. They have two seasons, Summer and Rain... The rain being their off season. Panama City can go days without rain and average temp around 85 to 95. Depending on the time of year, you can look at your watch and say, "Well it's 3:00 pm, time for our 20 minutes of rain." PC and Pacific coast is a lot more humid than inland. It can get very warm. That is why we love Boquete so much. Lots of trees and flowers and temps that average 70 to 85. Yes they do get some great rains in that area of Panama. You will use that time to sit out on your patio and read a great book and have a glass of wine. Or just relax and get to know each other again. I really don't think the weather is much different than most of the places here in the states. Grant it, we do have some very hot states and some very cold states, but we also have average weather states as well. That too depends on where you want to live. So you see, you will have choices in Panama as well.

Remember, be gracious to the locals and always be aware of your surroundings and the people you do business with. (Just like anywhere in the world.) We have always been treated very well and have been very gracious to the people. Use that philosophy and you will make many friends. Also, get advice from the Pensionado's living there, they are always willing to talk to people from back home. Good Luck and I'll check back in a few days.

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