We spent the first year of our retirement in Boquete, Panama. Our Panama budget was about 50% of our US budget. The big savings areas: didn't need a car in Panama, health (international policy for hospital care, paid cash for everything else), food (groceries and eating out), utilities, and rent. Also our hobbies in the US are more expensive (skiing).
Pluses:
- great expat community in Boquete. Lots of activities, speakers, volunteer groups.
- healthy fruits, veg, and fish are cheap
- constant pleasant temperatures, and 12 hours of daylight year round
- great hiking, birding
-easy access to Carribean beach holidays (Bocas Del Toro)
- uses US dollar
Minuses:
- water and power outages much more common than in US
- unreliable internet in some areas
- if you don't speak some Spanish, it limits your interactions with locals, and can make setting up services and paying bills a bit challenging
- you need to have health insurance. While private hospitals and doctors are good, the public system is very limited.
- police/fire/ambulance dispatchers don't speak English. We joined a service that provides a bilingual emergency operator for a fee.
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