According to a recent Gallup survey, the average age for retirement in 2022 was 61 years. The retirement age is up from previous years and is expected to grow due to the financial burden of retirement and lack of resources. Most individuals have not saved adequate money, will not receive social security benefits until age 67, and the cost of living in the United States continues to increase yearly.
But what if there was somewhere affordable you could retire to that offers excellent benefits to retirees and allows for warm weather year-round? If this sounds like a perfect option, Panama is the place for you! Thousands of happy retirees have discovered Panama with Panama Relocation Tours and found their dream retirement location.
So what are the benefits of retiring to Panama?
There are many benefits to selecting Panama as more than just a travel location and making it your full-time home. The top 5 include;
- Excellent Year-Round Weather
There is a reason many people like to retire near the equator. They don’t have to deal with weather fluctuation. The weather in Panama is the same temperature year-round. If you retire to the coast, temperatures are 90 degrees Fahrenheit (32.2 degrees Celsius) daily. While if you decide you like it a little cooler, around 4,500 feet elevation will get you a perfect 75 degrees Fahrenheit (23.9 degrees Celsius). Not having to worry about snow and dry summers is an excellent reason to relocate.
In addition, unlike other tropical places, there are no hurricanes, tornadoes or tsunamis.
- It’s Safe
Many countries in Central America struggle with violence due to government instability and cartel activity. This issue does not exist in Panama. It is a small, friendly country that is safe to live in and visit.
- Affordable Quality Housing
Moving to Panama will significantly reduce your cost of living regarding housing. Their pricier options run around $1500-2000 a month for a high-rise condo along the Pacific Ocean or a three-bedroom house next to a golf course. If you need something more cost-efficient, you can get a furnished one-bedroom with a Caribbean Ocean view for just $495 a month!
There are also options for foreigners to purchase homes, and most Panamanian banks will fund loans after proper background checks and funds are in place. Finally, electric bills in Panama are insanely cheap, around $25 a month, and retirees get a 25% discount.
- Amazing Retirement Programs
It is effortless to qualify for Panama’s visa programs compared to other countries. To qualify for Pensionado, you must show that you have at least $1,000 in monthly income for life through retirement funds, Social Security, pension, etc.
Once you have a permanent visa, which usually happens within six months, you qualify for 50% off recreation and entertainment, 20% off restaurants, 30-50% off hotels, 30% off public transportation, 25% off airfare ANYWHERE IN THE WORLD, as well as discounts on dental and medical care.
- Affordable Healthcare
The healthcare system in Panama is fantastic, and many doctors receive training in the United States. It is free to utilize the public health system, and it is $2 to see a primary care doctor and $5 for a specialist. Surgeries and emergency care are affordable, with many surgeries costing around $300.
There are also more excellent private hospitals, which are still much more affordable than those in the United States.
Schedule a tour today to find your dream retirement location!
If you want to learn more, schedule a tour to see the country’s beauty and meet its friendly residents. Find your home in a place with excellent weather, affordable housing, excellent benefits and healthcare and where you will feel safe for the rest of your days.