When it comes to your retirement, it’s important that you begin to prepare well in advance. This way you will have a nice home, ideal weather, and enough money, to live in comfort for the later years of your life. And this is one of the reasons choosing the right location to retire in is very important.
There are many benefits to retiring in a country like Panama and it should be at the top of your list when it comes to finding that perfect future home for your later years. Keep reading to discover why you should have Panama at the top of your list of countries to retire in.
#1 Panama Has The Best Benefit Program For Retirees
Did you know that certain countries actually have specific programs for retirees? Well, not many do, but Panama is one of the select few! And their program is honestly the best. It’s called the Pensionado Program and has been in law in the country since 1986. Under the Pensionado Program, all men over the age of 60, and women over the age of 55 within the country receive the following benefits:
- 50% Discount In Movie Theaters and Other Shows
- 30% Discount On All Public Transport
- 25% Discount On Airfare To Country Of Origin
- 30%-50% Off All Hotel Stays
- 15%-25% Discount In Restaurants
- 15% On Healthcare Services
- 20% Off Drugs In Pharmacies
- 1% Discount On Home Mortgages
- 25% Discount On All Government Provided Utilities
Sounds like a lot of discounts, and it is! With the combined list of discounts above you could be saving hundreds of dollars every month—and you can use it for something else you really want, like a better house or a fun vacation!
#2 Panama Has The Best Weather
Do you want to be shoveling snow in your later years? How about preparing your home for a hurricane every season? Neither of these situations sounds like fun when all you want to do is relax and enjoy the fruits of your labor! This is why you should pick Panama for your retirement, as the weather there is incomparable.
Not only is it warm, sunny, and tropical year-round, but Panama is also situated far enough from Hurricanes that you won’t have to worry about a tropical storm ruining your plans of lying on the beach. The climate stays about the same year-round, so your body won’t feel any negative effects that can be caused by the changing weather.
#3 There Is Economic And Political Stability In Panama
Retiring in a country located in Latin America isn’t a new idea, and many people around the world aim to retire in Mexico and Costa Rica. But one of the problems with retiring in a country that isn’t Panama is that you are subject to economic and political instability which could affect your investment, your savings, and ability to return home.
Unlike most Latin American countries, thanks to the Panama Canal, the country is economically stable, and has experienced an increase in GDP even when the rest of the world was suffering following the economic crash of 2008. This also left property values in the area unaffected, meaning you can rest assured that your property in Panama will retain its value year after year.
Additionally, the currency in Panama is tied to the US dollar, this means that you won’t experience the massive inflation that is common in countries like Venezuela and Guatemala where the government has simply decided to continually print money.
#4 Traveling Is Easy In Panama
Another really cool fact about Panama is that it is a huge travel hub—which is perfect if you and your partner are wanting to spend your later years seeing the entire world! Many airlines have layovers in Panama when heading to other countries in Central and South America, and the city is serviced by most large carriers. And with that airline discount listed above, you will have no reason not to travel to your hearts content!
Currently, the Panama airport is rated one of the best medium size airports in the region and is serviced by 29 commercial airlines that can connect you to over 400 destinations in 39 different countries. So whether you dream of seeing the Machu Picchu in Peru, Lake Titicaca in Bolivia, or the Eiffel Tower in Paris, you’ll be sure to find a flight to the destination of your dreams!
#5 Panama Has Excellent Healthcare
As you age, the availability and quality of healthcare begins to matter more than when you were younger. And moving to a country in Latin America can leave you wondering if you will be able to get all the care you need. In Panama, you will never have to worry as they have top notch healthcare at a price that is affordable for everyone (and remember you get a discount!)
And if you are interested in a more elective procedure such as neurosurgery, stem cell treatment, or elective dental procedures, Panama has these too, and with a price tag you can afford. If you are worried about the language barrier when you go to see a doctor, there is no reason to be, as all doctors in the region speak English. In fact, most doctors in Panama are actually American or attended American universities for their degree—so you know you are receiving the exact same level care you would receive in the United States.
#6 Panama Is Safe
And last but not least, as you age you will also want to be certain of your physical safety as you walk around the new beachside town that you call home. Panama does not disappoint. Surrounded by countries with high crime rates, Panama has the lowest crime in the region. If you are especially concerned about the crime rate in a specific area in Panama, you can always ask your relator to provide you with information about the city you are shopping for a home in.
Overall, retiring in Panama is the best choice you could possibly make. Not only will you benefit from the amazing retiree discount program in the country, but you will enjoy great weather, economic stability, and personal security while you do so! So if you haven’t looked into Panama as the retirement destination of your dreams, it’s time to take a look right away!
Have any questions about Red Frog Beach real estate and investing in Panama? Contact us
Join Our Newsletter!
Be the first to know about exclusive listings, learn about living in Panama, and more!
✔︎ Top 5 Reasons to Invest In Real Estate in Panama
✔︎ 6 Amazing Benefits Of Retiring In Panama
✔︎ The Cost of Living in Panama
✔︎ How to Become a Panamanian Resident Through the Purchase of Real Estate