'Cost of Living in Boquette' Retirement

Cost of Living in Boquette

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

• Living in Boquete

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.

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.

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.

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

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.....

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.

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

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.

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)

I am moving to Panama from England later this year now that my visa has finally been approved.

As it has been 2 years since I visited Panama, I have lost track of general cost of living such as food costs, gasoline, phone, etc.

Does anyone happen to know if there is anywhere on the web that would give me latest prices for everyday food items such as eggs, milk, veg, cereal, etc? Also cell phone costs, internet (or free wifi hotspots). In addition, can anyone point me in the right direction for medical insurance?

I already have a house built and paid for in Espino though I am considering renting in Boquette and renting my house out. There is only myself to worry about.

Your help would be much appreciated.

Many thanks,

-=ray roscoe

We just got back from Boquete last week. We were checking on our building process. I will try to answer as many of your questions as I can.

1. Food: If you buy from the local markets for veggies and meat and that sort of thing, it is very reasonable. They have farmers markets and road side markets that are very reasonable. You can pay 75 cents for a dozen eggs and a gallon of milk runs around 2 to 3 dollars. If you buy imported name brand cereal you will pay 2.50 to 4.00 a box. If you buy generic cereal (not Kellogg but made by kellogg) you can get a box for 1.50 to 2.50. Local brand named food is a lot cheaper and sometimes the local brand is actually made by the well known brand. Local coffee is very cheap and very very good. One person could easily live on 50 dollars a week or less on food.

2. Gas: runs around the same as here in the U.S. 3.75 to 4.00 a gallon.

3. Phone: most everyone has a cell with prepaid card. Once you buy your phone, you can put as much as you want on prepaid. If you are calling out of the country, it will be more. If you are calling local. I would expect 20. per month.

4. Internet runs around 40. per month. yes some places in town have wifi.

5. Cable: extended cable w/sport channels and movies can run anywhere between 30.00 to 50.00 a month.

Hope this helps a little. These prices are for the Boquete area. I know that two people can live ok for less than $2, 000 a month. That's for everything, (food, clothes, household hookups, medical insurance and auto insurance, and going out to dinner several times a month.)

Please check out the messages in this forum. I have written several things on this issue.

I will touch on just a few of your questions. Yes you can live on $2, 000 a month. Will you be buying or renting? Have you been there? Please make a trip and stay for a couple of weeks and travel the country. Our first trip was an eye opener. We knew after 2 days that we did not want to live in Panama City (PC). So we rented a car and drove up the Panamerican Hwy to David. Hot and humid along the way, but a very nice trip. If you decide to rent a car, make sure it's an automatic and has air. Most of the cars are manual transmissions. We have never had a problem getting an automatic, but be sure to secure one before arriving. Thrifty is the cheapest.

When we arrrived in David we took a trip up the mountain to Boquete. As soon as we turn up the road and started our way to Boquete, it was like going into a different country. Lots of trees, flowers and birds. We loved the area in and around Boquete and decided this is where we were going to retire. Good people, good restaurants, great coffee and lots and lots of Expats. Look at Montanas De Caldera this is where we bought. Email Jane Davis and tell her Mike and Darlene sent you. She will send you what ever you need to look at their project. Lots to choose from in and around Boquete. Google: Pensionado Visa in Panama to get info on what it takes to retire there. If you have specific questions, I check this site a couple of times a week. Hope some of this helps.

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