Retire in Panama
Last updated on Mar 09, 2024
Summary: Retirees are attracted to Panama for its low cost of living, excellent healthcare system, and vibrant culture. Panama also offers retirees a tropical climate with temperatures ranging from the mid-70s to the mid-90s Fahrenheit throughout the year.
What is it like to retire in Panama?
"Very active expat community, with several groups, birders, hikers, quilters, photography, charitable aid groups, you name it," said a person in Boquete.
"For 9 years we have lived in the beauty and undiscovered area near Portobelo Colon. If you love nature it is the most beautiful peaceful area. Snorkeling on the reefs right outside our home, watching the Tucans fly over our house. Spending our days with others that love the peaceful, natural environment. It is cheaper to live in this area and still only 1 hour to the city if you need a visit to Pricemart," remarked one retiree in Panama.

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Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
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Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
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Click connect to have our partner contact you via e-mail and/or phone.
What advice do overseas retirees have for others considering retiring abroad?
"Spend some time, several weeks if possible, to get a real feel for the area you are considering retiring to. We came here 5 times before we purchased," remarked one retiree in Taboga Island.
"We feel like we are on a perpetual vacation. I remind myself that we live where people vacation. For me, there is nothing more relaxing than the sound of the waves lapping always in the background. I have never felt more at peace in my life. Life is good," said a retiree who moved to Nueva Gorgona, Panama.
"Sometimes it seems that Americans want to re-create America abroad. I try to encourage anybody from the U.S. to spend some time talking and walking with the natives here. It's the diplomatic thing to do, and you'll gain empathy from the experience," said one retiree in Las Tablas.
"I would encourage any one who is thinking about moving overseas to take the plunge before it's too late and the US Gov. makes it to difficult to expatriate," commented one retiree living in Potrerillos, Chiriqui, Panama.
What are the most challenging aspects of retiring in Panama?
"Adjusting to a new culture and language can be one of the most challenging aspects of retiring in Panama. There can also be the challenge of transitioning to a new healthcare system, and the cost of living in certain areas may be much different than a retiree is used to. Additionally, retirees may find it difficult to avoid scams or unfamiliar bureaucratic processes. Retirees may also face certain logistical challenges like finding optimal housing options, navigating the transportation system, and learning to survive without the reliable public services they may have received in their home country," said a person in Panama.
"Getting used to the cultural differences, language, pace of life and casual attitude about service," remarked one retiree in Boquete.
"Sometimes it's a challenge to find ingredients for a recipe or find a good steak but everything can be worked around. Learning Spanish at retirement age is not easy for us but we plug along one word at a time and we are getting there. In our area [in Nueva Gorgona], there are a lot of expats and a lot of English is spoken and that makes learning Spanish less crucial but we still want to keep learning," said a retiree who moved to Nueva Gorgona, Panama.

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
Click connect to have our partner contact you via e-mail and/or phone.

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
Click connect to have our partner contact you via e-mail and/or phone.
What are the most rewarding aspects of retiring in Panama?
"Our stress levels have gone down a lot. We are very relaxed. We also eat better. So much fresh fruit and veggies available and everything tastes so good here. By far, our favorite thing here is living on the beach and going to sleep and waking up to the sound of the waves. It's so tranquil," commented one retiree living in Nueva Gorgona, Panama.
"The most rewarding aspects of retiring in Panama include the beautiful scenery, warm and inviting climate, low cost of living, excellent healthcare system, and vibrant cultural diversity. There’s no better way to relax and enjoy life than to explore all the exciting things Panama has to offer. Retirees will also have access to a variety of activities and entertainment, ranging from visiting Panama’s ancient ruins to enjoying the nightlife in bustling cities. Additionally, the country’s close proximity to other destinations such as the Caribbean and South America make it a prime spot for travelers looking to explore and experience different cultures," explained one retiree living in Panama.
"It's Panama. Complete freedom--unbridled freedom to live my life however I choose," said one retiree in living in Las Tablas, Panama.
"New friends from around the globe. A much easier lifestyle, slower, less government intrusion into our lives. The beauty of the jungle, beaches, greenery. The peace and quiet we enjoy in the islands. Beautiful sunrises from our 10 mile view deck," explained a retiree in Bocas del Toro.
What are healthcare services like in Panama?
We asked retirees if they have access to good medical care in Panama. They wrote:
"Yes, Panama has first world medical care but also has third word cares and everything between," commented one retiree living in Potrerillos, Chiriqui, Panama.
"Healthcare services in Panama are generally accessible and of a good quality. There are both private and public hospitals, as well as smaller clinics, offering a range of treatments and medical services. Doctors in Panama are well qualified and the government is implementing mandatory insurance for all citizens that provides access to free medical services. Pharmaceuticals are also widely available, with both generic and branded drugs available at reasonable prices. Many retirees choose to move to Panama due to its high quality and affordable healthcare services," explained one retiree living in Panama.
"I don't really know. I've been to a doctor a few times and a dentist. A typical visit costs $30. I sort of think I could get some acute care if I needed it. But for instance I had a post-covid heart attack several months ago, and I thought that I was dying. Then I realized that that would be okay with me, over and done with, then I laughed at myself. After a while the pain subsided, and I continued my walk. I am called fearless Fred for a reason," said one retiree in living in Las Tablas, Panama.
How do I meet people in Panama?
When we asked people living in Panama about club and activities where newcomers can meet others, they responded:
"Besides the bars and restaurants, there are fitness classes, Spanish classes, dive lessons, Catamaran tours, Live music venues, the beaches, volunteer opportunities and just meeting people walking down the street," said one retiree in Bocas del Toro.
What is life like in Panama?
When we asked people living in Panama what life is like and how people spend their time, they said:
"Priorities start with family, extended family, family friends, other friends, socializing, sports, all other non-work related activities, and finally: work," said a person in Panama City.
"Living in Panama for expats and digital nomads can be an exciting and rewarding experience. Panama is known for its tropical climate, vibrant culture, gorgeous beaches and national parks, and its thriving expat community. With excellent infrastructure, a modern banking system, and a low cost of living, Panama is an attractive option for people looking to live and work abroad. The government also welcomes expat entrepreneurs, providing incentives to help them start and run businesses. Expats in Panama can look forward to making friends in the local international activities, making the most of their new home by exploring the many outdoor activities and attractions Panama has to offer. Finally, safety ranks among the highest in Latin America, making life in Panama even more attractive for expats and digital nomads," remarked one retiree in Panama.

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
Click connect to have our partner contact you via e-mail and/or phone.

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
Click connect to have our partner contact you via e-mail and/or phone.
What do I need to know before retiring in Panama?
When we asked people what advice they would give someone preparing to move to Panama, they said:
"Do not be surprised by the most modern technological society living in a first class environment," explained one retiree living in Panama City.
What type of recreational activities are there in Panama?
"The beaches in Pedasi are a big draw for surfers, boogie boarders or just swimmers. One of the developments (Andromeda) has a restaurant and pool oceanside. People also do kite sailing. Fishing is a big draw as well. There are offerings of yoga classes and other activities of that sort," explained one member in Pedasi.
"Residents of Panama enjoy a variety of recreational facilities, including beaches, parks, and outdoor activities. Popular beaches include Playa Blanca, Santa Clara, and Coronado, which offer a variety of activities such as swimming, snorkeling, and sunbathing. There are also numerous parks throughout the country, such as Parque Natural Metropolitano, which offers a variety of activities such as hiking, biking, and bird watching. Other outdoor activities include fishing, kayaking, and horseback riding. Additionally, Panama City is home to a variety of cultural attractions, such as the Panama Canal, the Panama Viejo ruins, and the Biomuseo," said one retiree in Panama.
Where will I buy groceries and do other shopping in Panama?
"There are 3 good food stores in Pedasi. However, for more international foods, most people drive into Chitre (1 hour) or Las Tablas (3/4 hour). For people wanting a taste of home, Riba Smith has lots of items that other stores don't carry," said one retiree in living in Pedasi, Panama.
"The Albrook Mall is the largest mall in Latin America, so there is plenty of shopping for when you need it. Albrook is also the hub for bus and plane service to travel throughout Panama, and there is a Metro station next to the bus terminal as well," wrote one person in Panama City.
"People living in Panama typically buy groceries and do other shopping at local supermarkets, convenience stores, and open-air markets. Many people also shop at larger chain stores, such as Walmart and PriceSmart, which offer a wide variety of products. Additionally, there are many small, independent stores and vendors throughout the country that offer unique items," explained one retiree living in Panama.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Additional Information:
- Panama Guide
- Healthcare & Health Insurance in Panama
- Members Talk about Healthcare & Health Insurance in Panama
- Best Places to Live in Panama
- Guide to Real Estate in Panama
- Pros & Cons of Living in Panama
- Cost of Living in Panama
- 9 Important Tips about Healthcare and Health Insurance in Panama
- 7 Things to Know Before You Move to Panama
- Thanksgiving in Panama
- 7 Best Places to Live in Panama
- 2025 Guide to Living in Panama
- Pros and Cons of Living in Panama 2025
- 2025 Guide to Moving to Panama
- More Advice about Retiring in Panama
- Members Talk about the Cost of Living in Panama