'Cost of Living in Boquette' Retirement

Jack Russel from Sarasota, FL (Contact Member) -

Would like to communicate with American Expats currently living in Boquette for real life info on living there. From cost of living, healthcare, to safety. My wife of 25 yrs is from Philippines and I was considering retiring there, but Panama is so much closer to Florida where we have family.

A real life monthly budget for 2 retirees would be much help.

Comment #1 Jack Russel from Sarasota, FL (Contact Member) -

I guess I should request same info from Bocas Del Toro, Chiriqui, or any other location out of the Metro area.

Comment #2 Dar (167.80.246.204) -

Please refer to my comments on this site. I have several on Boquete. As we just bought there.

Comment #3 nancy (63.176.159.195) -

If your looking to live in Panama i would suggest it highly. It is a beautiful town and great for someone who is retired. access to local stores and other places you need to get to is very close and has easy access. Also the weather is wonderful, I would really consider looking further into this, plus didn't you say you have family close to there?

Comment #4 Geri (63.176.159.154) -

This link might help with your research on living in Boquete.

• Living in Boquete

Comment #5 Samantha (63.176.159.251) -

Jack, did you ever find out the information you were wanting to know?

Comment #6 expatriate (63.176.159.220) -

Where is the site Dar? What drives people to retirimg at a place of choice other than where they have lived all there life? A break from norm or a search for an even better life? The reasons may be varied but is there a common ground?

Comment #7 Dar (167.80.246.204) -

expatriate

I have written on several issues about living and traveling in Panama in this forum. What drove us to retiring in Panama is the cost of living. Here in the states the health care alone will be devasting to try and retire and live comfortably. Health care cost will be out of site. My husband and I each have 2 union pensions we each have a 401K and we'll each have Soc. Sec. If we stay in this country, we will make it ok, but not be able to do all the things we want to do in our retirement. It is predicted that the average retiree will have to pay up to 40% of their retirement income just to get adequate health care. We are not willing to do that. You can retire in Panama and get excellent health care for a fraction of the price. I researched for over a year before making our first trip. Once we got down there, we spoke with other retirees living there and spoke with pharmacies and health care officials and compared medication cost. Boy was it an eye opener. As I have said in the past, don't get me wrong, I love my country, we just can't afford to live here. As soon as we sell our home here, we are moving to Boquete. We have purchased a lot and will start the building process. We will be able to live down there, on my husband's Soc. Sec. alone. All the rest will go in the bank. That includes Ins., house payments, utilities, maid and food. We will travel home several times a year and also travel any where we might want to go. So you see, it will be a retirement we deserve. You need to go on line and google "benefits of retirement in Panama" or "Retire to Panama" or anything along that line. Also research Pensionado benefits in Panama. Hope this explains a little. If you have any questions, I usually look at this site a couple of time a week and will be glad to answer any questions you might have.

Comment #8 New Start (96.226.190.93) -

Dar,

Thank you for the information. We are thinking about moving to Panama. I just saw the TV show House Hunters International, the couple was looking for a vacation home in Boquete. I could not believe the price in a gated community about 20 miles away called Los Molina. I was wondering if the show was a old. The price was cheap. We have a son who is in high school and would first move around Panama City, I found a private school that has college-prep classes for Jr. & Sr. yr. We would move away after he graduated and I like Boquete. My only concern is good medical facilities. The info was very helpful.

Comment #9 jewels from sunny south (Contact Member) -

Since Dar Comment # 7 from last July...how has the prices for retirement, medical, housing been effected with the the global recession?

We also are seeking to retire to Panama in the very near future. Our income would be one SS and

a Federal Disabilty check. We have a 401k.

Look forward to feedback.

Comment #10 Dar (167.80.246.204) -

Look into Montanas de Caldera in Boquete. They are doing homes and duplex's and Condo's. That is where we bought and as soon as we sell our home here in Washington state, we are on our way. If you email them for info, tell them Mike and Darlene recommended them, they are great. Look at their websit. Before we bought in Montanas, we looked at Los Molinas and did not like the development as much as Montanas. House Hunters Intnl was last year. The prices have not changed that much. In the town of David (30 mins from Boquete) they have a great hospital. It is affilated with John Hopkins.

I have been very busy lately, so have not checked this forum for awhile. But I do keep coming to it. So if you needed additional info, just ask and when I check site, I will be happy to help. We have made several trips to Panama and have done over a year of research. So far I am absolutely thrilled with the answers to my research. I plan on writing a blog on our retirement in Boquete so people can get the right (trusted) answers to their questions. Hopefully I will be able to provide enough info for them to make a good decision on their move or retirement considerations. I have had the pleasure of dealing with current retirees down there and they have helped me a lot. So for now..... Byeeeee

Comment #11 expatriate (63.176.159.232) -

Dar,

I guess you can tell that you have really provided an eye opener to many people, top on the list being me. It seems then that health care alone is priority for the United States but then again have their been suggested amendments to this health care policy?

I am sure your country would still find you very productive even in retirement. Otherwise what convinces others to remain back at home and be part of the said health scheme?

byeeee.....

Comment #12 Dar (167.80.246.204) -

Expatriate

Yes I would say that the number one issue right now is health care, due to the high cost. It is predicted that if something is not done, the average retiree will be spending approx. 44% of their retirement income on health care. The current elected officials are trying to do something about health care, but so far nothing has been accomplished. They have been spinning their wheels for many many years on this problem. We just can't afford to wait any longer. Even if they get some kind of retiree coverage or universal health care it still is going to be costly for the average person. The U.S. is the highest country in cost of health care. Yes, we do get good care, but so does a lot of the other countries who have universal coverage. My husband and I have planned very well financially for our retirement. We don't want to see it all disappear if one of us gets sick and dies and the other is left with nothing but a memory of what it was like to be self sufficient.

The last time we were in Panama, we took a list of medications and prices that our family members were on here in the states and compared them to the cost down there. (Fortunately my husband and I aren't on any meds so had to get names and prices from them.) The combined price for all the meds being taken here was $1200. per month. Those same meds (same brand and milligrams) were approx. $200. per month. We compared 9 different pills. My Grandson was on medication that cost $300. per month here, down there it was $44. per month. The exact same pill. So you see, it will be wonderful not to have to worry if we can afford to eat or use our pension that month to pay for our medication. I will always love my country, and come home often, but just not live here.

Comment #13 Mya (63.176.159.145) -

I thought that this info would help

Economical Advantages of Living in Boquette

The economical advantages (both in real estate and private services) are virtually unmatched in Boquette. For starters, private health services in Panama cost less than half, on average, than the States. Bridgework and advanced periodontics go for less than $1, 000 while the same procedures cost up to 10 times higher in the States. Plus, private health insurance is cheap since the average income in Panama is $300 a month, with pharmaceutical companies pricing their medicines accordingly. Cell phone services are exceptionally low with an unheard of $3 a month for basic service.

Retirees in Panama

• boquette

Comment #14 Kathy (68.52.232.88) - 12/30/09 15:28

"Where to rent?"

Hello, My Husband & I are considering a move in 2010.We looked at Costa Rica but wanted to compare to Panama. I honned in on Boquete because of all the articles about it which make it sound perfect for retiring. Although, I am considering doing some Real Estate since that is my field. One of the places that looked nice for renting was Valle Escondido. I don't want to over pay on rent so I wanted to know what to expect in that community? Also, wondered if you recommend other communities or places to rent?

Comment #15 Jim from New York (Contact Member) - 12/31/09 07:52

"Spend some time there..."

It is easy to make any place look PERFECT in an article.

FOR YOU:

It may be.

It may not be.

Spend some time there... 3 months... better 6 months... in a rental apartment not a hotel. Get a real feel for it before you make a commitment.

Comment #16 Daniel (72.91.99.67) - 01/02/10 21:58

"Retired"

WOW! Considering that I just got back to Florida after living in Panama for over 1 year, I'm flabbergasted with some of these remarks about about how wonderful Panama is!

I did NOT see Panama thru the same "rosie" glasses.

You can live in Boquete, Bocas del Toro or David or any other Panamanian city, but you will be MILES from anything that's familiar to Americans........I don't understand WHY anyone would want to live in any of those small towns......but I guess Healthcare issues have convinced people to live outside the USA. And don't think you will get the TV programs you like from the US, that ain't gonna happen! I paid for the most expensive HD programming from CABLE-ONDA and it was still very aggravating and disappointing!

They can't even get the TV Guide to match whats actually on TV.........

and forget about planning to TIVO something, it won't be what you want to record!

PANAMA, quite honestly, is an un-safe country, with friendly people that don't give a hoot about your service, insanely drive like they are in NASCAR, have NO insurance, and have NO qualms about causing an accident and driving away, because the cops probably won't show anyway!

PANAMA COST MORE MONEY than the USA in:

gasoline

life insurance

auto insurance

auto purchase (over $10, 000 is added to the stickers)

electricity... If you use air conditioning your bill will be over $250.00 for an apartment.

REAL ESTATE in Panama City is higher than MIAMI

REAL ESTATE in BOQUETE, DAVID, Bocas del Toro is cheaper, but you're living in the middle of no where! NO MALLS, NO THEATERS, a few sleazy unsafe bars, and food throughout PANAMA as being acceptable, but not healthy!

If that's what you are looking for, that's great, but not for me!

Healthcare is not an issue for me since I don't pay anything for healthcare. I had Blue/Cross International which gave me access to the TOP rated hospital and doctors in Panama.

(previous poster) $3.00 for a cell phone???????

I was paying anywhere from $50.00 to $80.00/mo thru Cable & Wireless...........same at Claro OR MOVIL.

Which company can you get a cell phone for $3.00?????

I'm speaking from experience living in PANAMA, so I know from whence I speak (a little English humor)

Comment #17 eve (63.176.159.0) - 01/09/10 16:12

I wonder if I would be able to live in Boquette on my salary. highly unlikely at the moment, soon though, things will surely be looking up.

Comment #18 Maricorn (63.176.159.23) - 02/04/10 23:54

Well it depends on how much your salary is by now. But I bet that you can manage to live in Panama considering that there are lots of jobs available in the country for expats. You just have to do some good search. By the way, if it is ok with you guys, can we know how much you are earning so that we can determine if you can really make a living in this place.

Comment #19 Sammy (109.111.97.89) - 03/01/10 22:17

I have to agree on that. But I think it is very important to learn more about any country and particularly the cost living on the place you are to move. This way you can make sure that you are financially ready, which is one factor that is very crucial in moving. But all in all, I have to say that retiring in Panama is the best idea for retirees.

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