I’ve come across a few articles lately…
Places where it’s so cheap to live you up might not need to work! Well…. maybe you won’t need to work as much (unless you have another source of income).
It’s interesting that Panama is #1 on their list. Their main source seems to be International Living which we all know, as a for profit business, doesn’t tend to take off the rose colored glasses. Their definition of wonderful might not be yours. But our lives here cost about 1/3 of what they did in Florida and we are probably 3x happier.
Their statistics say if you retire at 55, you are likely to live to be 80, but if you retire at 65 you are likely to die at age 67. Yikes! I have had some anecdotal evidence of this – too many patients and stories of others who fell apart before they could realize their retirement dreams. A good friend had a heart attack the evening of his last day at work, and is only alive today because he got to the hospital in time to be rescued from a total cardiac arrest.
Myself, I was so fried at 60 when I retired! I don’t think there would have been much left of me if I had worked another 10 years, which would have been necessary to financially survive retirement in the US. We wake up every morning and give thanks for this affordable Panamanian life!
Then, there is this cost comparison between the USA and Panama. https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Panama&country2=United+States
Of course the USA is a huge country, and there are differences in costs depending on where you are. It’s the same in little Panama. You can expect a lot of things to be much more expensive in Panama City than they would be in the interior in a small town or rural area. But, here are some numbers which you all may find useful.
Don’t believe none of what you hear and half of what you see (from the song “I Heard it Through the Grapevine” by CCR, and many others). These articles are interesting, but no substitute for doing your own homework. This expat life doesn’t work for everybody for a variety of reasons, but it also can be better than you ever imagined.