Retiring in Panama
More and more Americans are now considering Panama as their destination where they plan to retire. In fact, according to the survey conducted by the Modern Maturity Magazine, more elderly Americans choose to retire in Panama than anywhere else in the world. This makes Panama the number one choice among elderly Americans.
There are a number of reasons why elderly Americans are now retiring in Panama. Here are just some of them.
Perhaps the primary reasons why elderly Americans choose to retire in Panama is because of the safe environment they would be surrounded in. Compared to other countries in the Central America region, Panama has been ranked to be the country with the lowest crime rate and highest tourist safety. Elderly Americans retiring in Panama would be able to rest easy knowing that they are living in a country where they are safe and secured.
Another reason why many elderly Americans decide to retire in Panama is its close resemblance to the United States. Because the United States continued, and eventually completed, the construction of the Panama Canal in the country, Panama has become the home of up to 50,000 Americans. Despite the fact that Panama is a country that boasts of its Latin-Caribbean cultural background, the various infrastructures left behind by those who constructed the canal would make any American retiring in Panama feel right at home.
Americans that retire in Panama would be able to obtain the same subsidies and discounts offered by the government to its local retirees. Some of the benefits that elderly Americans retiring in Panama are able to receive are:
Americans retiring in Panama feel right at home with the warmth and friendliness exhibited by the locals. This is because, by nature, the locals of the country are warm, friendly and accommodating.
Elderly Americans that retire in Panama would generally have to live on social security or pensions they have accumulated when they were younger. The fact that Panama is one of the few countries in the world that use the same currency as the United States is welcomed by Americans retiring in Panama. They no longer need to worry about having to convert their dollars into the local currency whenever they would go out. This makes it all the more convenient for elderly Americans that choose to retire in Panama.
Compared to the younger generation, elderly Americans retiring in Panama would need to have the best health care that they would be able to afford. Panama is home of some of the best medical facilities found in the Central America region. Most, if not all, of the medical practitioners in these medical facilities have not only been well-trained. Their ability to speak in fluent English makes it a lot easier for Americans that choose to retire in Panama to explain how they feel. This would definitely decrease the chances for them to be misdiagnosed as a result of a miscommunication due to language barriers. As such, Americans retiring in Panama are able to receive the best health care that they would be able to receive.
Unlike in most countries where the rights of foreign retirees are much more limited than local retirees, Americans that chose to retire in Panama share equal rights with local retirees. As a result, Americans retiring in Panama are able to settle right in conveniently in the country and are able to benefit from the very same retiree benefit programs offered to the locals.
There are a number of reasons why elderly Americans are now retiring in Panama. Here are just some of them.
Safety is Guaranteed
Perhaps the primary reasons why elderly Americans choose to retire in Panama is because of the safe environment they would be surrounded in. Compared to other countries in the Central America region, Panama has been ranked to be the country with the lowest crime rate and highest tourist safety. Elderly Americans retiring in Panama would be able to rest easy knowing that they are living in a country where they are safe and secured.
Americanized Infrastructures
Another reason why many elderly Americans decide to retire in Panama is its close resemblance to the United States. Because the United States continued, and eventually completed, the construction of the Panama Canal in the country, Panama has become the home of up to 50,000 Americans. Despite the fact that Panama is a country that boasts of its Latin-Caribbean cultural background, the various infrastructures left behind by those who constructed the canal would make any American retiring in Panama feel right at home.
Government Subsidies
Americans that retire in Panama would be able to obtain the same subsidies and discounts offered by the government to its local retirees. Some of the benefits that elderly Americans retiring in Panama are able to receive are:
- 50% discount on home loan interest rates
- 25% discount on airline tickets, whether these are for domestic or international travel
- 10% discount on prescription and maintenance medication
- 15% discount on health examinations
- 20% discount on doctor fees
- 20% discount on surgery procedures
- 25% off on utility expenses such as water, electricity and phone bills
- 30% discount on public transportation fares
Friendly People
Americans retiring in Panama feel right at home with the warmth and friendliness exhibited by the locals. This is because, by nature, the locals of the country are warm, friendly and accommodating.
Same Currency as in the United States
Elderly Americans that retire in Panama would generally have to live on social security or pensions they have accumulated when they were younger. The fact that Panama is one of the few countries in the world that use the same currency as the United States is welcomed by Americans retiring in Panama. They no longer need to worry about having to convert their dollars into the local currency whenever they would go out. This makes it all the more convenient for elderly Americans that choose to retire in Panama.
High Quality Medical Facilities
Compared to the younger generation, elderly Americans retiring in Panama would need to have the best health care that they would be able to afford. Panama is home of some of the best medical facilities found in the Central America region. Most, if not all, of the medical practitioners in these medical facilities have not only been well-trained. Their ability to speak in fluent English makes it a lot easier for Americans that choose to retire in Panama to explain how they feel. This would definitely decrease the chances for them to be misdiagnosed as a result of a miscommunication due to language barriers. As such, Americans retiring in Panama are able to receive the best health care that they would be able to receive.
Equal Rights
Unlike in most countries where the rights of foreign retirees are much more limited than local retirees, Americans that chose to retire in Panama share equal rights with local retirees. As a result, Americans retiring in Panama are able to settle right in conveniently in the country and are able to benefit from the very same retiree benefit programs offered to the locals.
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