Have you ever dreamed of retirement surrounded by warm weather and beautiful scenery, all for a low cost of living? When you are living in a tropical haven like Panama, you will find all of this, as well as affordable healthcare and a plethora of outdoor activities to keep you busy during your retirement years.
Over recent years, the country of Panama in Central America has emerged as one of the most sought-after retirement destinations in the world. In this article, we will examine why Panama is your perfect retirement destination!
Affordable Healthcare and Health Insurance
A significant benefit of retiring in Panama is the country’s excellent healthcare system. This country has a two-tier healthcare system, offering both public and private healthcare choices. Rather than a monthly fee for this coverage, you will pay between $2-$5 to see a doctor or specialist. The country’s modern hospitals and clinics employ highly trained medical professionals who speak excellent English. When you retire to Panama, you will have quality medical care at a fraction of the cost you would pay in western countries.
Prescription drugs are also significantly cheaper than they would be elsewhere. You can see a 50% price reduction in common prescriptions. With a low cost of health care, retirees won’t have to worry about the high costs associated with medical attention.
Beautiful Natural Scenery
Panama is known worldwide for its natural beauty and diverse wildlife. The country features tropical rainforests, mountain highlands, and hundreds of crystal white sand beaches. The country is also home to numerous national parks and protected areas that are home to many different kinds of wildlife, from monkeys to sloths to exotic birds of all species! These national parks include the Soberania National Park and the Darien National Park.
The pristine beaches are perfect for lounging next to sparkling turquoise waters. You can visit popular tourist spots like the San Blas beaches and Bocas del Toro or a quieter beach like Santa Catalina.
The natural scenery in Panama is perfect for retirees looking for stunning views during their most relaxing years of life.
Low Cost of Living
Panama offers a high standard of living at a fraction of the cost you would find in other retirement countries. Retirees will pay less for groceries, rent, utilities, transportation, etc. A retired couple can live comfortably on a $1,500-$2,500 monthly budget in Panama.
Even a luxury like eating out is much more affordable in this country. A meal at a local restaurant usually costs about $5 and includes a drink. High-end restaurants provide meals for about $10-$20.
Panama’s low cost of living makes it a sought-after choice for retirees looking to base themselves comfortably while living on a fixed income. Low living costs allow retirees to make the most of their retirement years rather than worrying about finances.
Panama has a year-round tropical climate that is like no other. Due to Panama’s proximity to the equator, the weather remains consistent all year long. A general rule of thumb regarding elevation and the weather is a temperature drop of four degrees for every elevation increase of 1000 feet. You can choose the weather depending on where you base yourself in your retirement years. Although the temperatures may remain consistent, Panama features dry and rainy seasons.
Dry Season vs. Rainy Season
The months of December to April are the country of Panama’s dry season. During these months, the country experiences minimal rainfall, becoming very windy.
April to December marks the rainy season in Panama. While it may not rain all day or every day, you will often experience light rainfall in the late afternoons. From October to November, there is heavier rainfall with the occasional thunderstorm. While the country does experience rain, the climate remains tropical and warm.
Plenty of Outdoor Activities
The opportunity to engage in so many outdoor activities is one of the standout features of retiring in Panama. The year-round warm weather makes it the perfect location for those who love being outdoors.
Hiking is a popular activity in Panama and an excellent way for retirees to stay active throughout their retirement years. There is an abundance of hiking trails that go through mountain ranges, lush rainforests, and the country’s coastal areas.
Another popular outdoor activity for retirees in Panama is fishing. The coastal waters offer some of the best fishing in the entire world; a fishing paradise for anglers of all skill levels and backgrounds.
Panama offers numerous benefits for retirees, making it more desirable in recent years. The low cost of living, tropical climate, and the beautiful scenery allows retirees to live their retirement years comfortably and happily.