What advice do overseas retirees have for others considering retiring abroad?
When we asked what advice they have for others considering retiring abroad, they advised...
"Panama is a nice place, but hot and humid with the best climate from December to April. Advertising from some relocation services about how cheap is Panama is not really up to date since Panama is getting expensive. The best way is to visit the recommended places and, by yourself, visit the stores (especially grocery) to figure out prices of some products are twice the US price. You can buy local but you will be considerably limited on food and food diversity is very important for a good health. Everything is full retail price in Panama and lots of people order from the US and it still is cheaper even with shipping with a much larger selection as Panama selection is very limited and it's understandable with only 4M population. We have lived in Panama and Portugal but there are no comparison as Portugal is the best place to be but it's far away from the US with a different time zone and currency. Portugal price are much lower than Panama on everything and the grocery food selection is the best you can have. Panama is a nice place to live with nice people but not based on lower cost of living since it has changed in the past few years. There maybe places you can live "cheap" but that won't be next to big center with not much services accessibility and diversity (hospitals, clinics, pharmacy, grocery stores, etc) with no price/selection competition among the different stores," said a member in Panama City, Panama.
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"Overseas retirees have varying pieces of advice for those considering retiring abroad. Many mention to do as much research as possible on the local culture and laws, as well as getting to know enough of the language to get around. Consider the cost of living in the area compared to your income, and budget accordingly. Visit the location beforehand to make sure it is the right fit; take a look around and familiarize yourself with the surroundings. Have a plan in place in case of any possible health issues. Make connections with both expats and locals, as it can be helpful to have advice and support from those familiar with the area. Finally, ensure to allow yourself enough time to adjust to your new environment," remarked another expat who made the move to Panama City, Panama.
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Other Questions:
- What do I need to know before retiring in Panama City?
- What do I need to know before moving to Panama City?
- How do I find a place to live in Panama City?
- What is a typical expat home or apartment like in Panama City?
- What is the average cost of housing in Panama City?
- How do I meet people in Panama City?
- What should I pack when moving to Panama City?
- Where should I setup a bank account in Panama City?
- Will I be able to find a job in Panama City?
- What is life like in Panama City?
- What do people like (and dislike) about Panama City?
- What type of social life can someone expect in Panama City?
- What is the social scene like in Panama City?
- What advice to expats in Panama City have about housing?
- What are medical services in Panama City like?
- Are healthcare and health insurance expensive in Panama City?
- Is the cost of living in Panama City high?
- What are the visa & residency requirements in Panama City?
- Why do people move to Panama City?
What advice do overseas retirees have for others considering retiring abroad?
If you live in Panama City, newcomers to Panama City would love to hear your answer to this question.
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.