Posts Tagged ‘Expensive Panama’
But Isn’t It Expensive? – part 2
Panama’s affordable medical care is among the best anywhere. The quality of health care is comparable to North America but the prices are one half or less! A local Panamanian Insurance Company can provide full medical insurance for under $50 per month per person. Even if you have to pay out of your own pocket, medical costs are still affordable.
Panama has an over all life-expectancy rate of 75.68, which is almost as high as — (72.94 for men and 78.53 for women)—the United States (76 for men, 79.8 for women).
Hired help is a bargain when compared to prices up north. A full-time maid can be hired for under $200 per month.
In Panama any legal resident may buy and own property. Retirees do not have to pay property taxes until they sell their homes. On new homes there is a 20-year exoneration from taxes. Property prices are very reasonable when compared to what you’ll pay in the U.S., Canada or Europe. A decent apartment may be rented for as little as $200 per month. A luxury apartment in the best area of Panama City can range from $500 to $800 monthly. A new home may be purchased for under $50,000. Actually, an investment in Panama today is much better than an investment in California real estate was 30 years ago.
But Isn’t It Expensive? – part 1
You will find Panama a place where you can maintain your current lifestyle for less money. Panama offers the world’s best incentive program for retirees. Residents pay NO local taxes on their foreign earned income.
Retirees can bring in a new car and furniture every couple of years. On top of that, they receive substantial discounts ranging from 10% to 50% on a wide variety of local products and services.
What you really spend depends on your lifestyle. If you must have a luxurious home, drive a late model car and buy imported goods, you could spend as much or more than you would in the States. But if you live more like the locals, take advantage of all of the perks, and watch your spending, you will spend considerably less.
Many Americans living below the poverty line in the United States can live in moderate luxury on a modest retirement or investment income in Panama. The country lends itself perfectly to living and retiring overseas, something that was once reserved for a few wealthy individuals.
You will not have to worry about an unfavorable exchange rate since the U.S. dollar is the official currency. The cost of food, utilities and entertainment are all substantially lower than in the United States.
