One of the most recommended places in the world to retire is the country of Panama. Why is Panama one of the best places to retire? There are many different reasons for this, starting with the fact that the weather is as close to perfect as you could ever find. There is very little change in time and temperature from one season to the next in Panama. So you enjoy the tropical climate all year long.
Normally, the temperatures and humidity are high and range between an average low of 70 degrees and a high of 90 degrees. Of course, in the highland areas the temperatures can get colder at night, occasionally dipping into the 50’s and typically will not go much beyond 80 during the day. Also, the highland areas of the country, like Boquete, have much less humidity so they are very popular with retirees. Panama does have a rainy season when it receives the majority of the precipitation however, Panama is located outside of the hurricane zone so violent weather is unheard of.
Another reason that Panama is considered one of the best places to retire is because it has many wonderful and attractive laws including tax benefits. For example, you do not have to pay taxes on any “foreign-earned income†and you are not be required to pay property taxes on any new house that you build or buy for up to fifteen years. Panama also uses the United States dollar as legal tender, which makes it much easier to make the transition to Panama than it would be to retire in a country that does not accept US currency. This is a tremendous benefit for American investors in todays world of wildly fluctuating exchange rates and the declining value of the U.S. Dollar. In Panama a buck is still a buck and it goes a long way!
The low cost of living is another reason Panama is one of the best places to retire plus the government requires merchants to provide many discounts for retirees. As a retiree in some cases you can enjoy up to 50% off your purchases. Just some of the discounts include: eating in restaurants; attending a movie even to going for a doctors visit. Living & Investing in Panama has many other benefits such as some of the best health care that can be found in Central America. You can enjoy a safe atmosphere to relax and there are a lot of friendly people to associate with.
If you do not feel like the reasons above are enough to qualify Panama as the best place to retire, consider this – Panama has a new modern way of looking at retirement. They do not believe that you have to fall into the senior category and be over sixty to retire. In fact, as a foreigner you can retire at the tender age of 19, provided you meet the retirement qualifications. Some of these requirements include proving that you have some type of benefit program ( a government or private pension) that pays you at least $500 a month. This has to be unearned income for you to qualify and you cannot have a criminal record plus, there are a few other simple qualifications to meet.
Hopefully this gives you a small taste of why many consider Panama to be the best place to retire. For more information about everything from Panama Weather to Panama being one of the Cheapest Places to Live you may want to visit my website – just check out my profile.
