How do you decide what makes a country a first class retirement destination and which country would you pick?
If you are considering the best place to retire or live better, you may be wondering what does it really take to earn a “best in class” designation?
As an example, I’ll use a country that consistently—more than any other, and for the past many decades–has earned one of the top spots on our Global Retirement Index – Panama.
So what makes Panama so special.
It’s Modern, Convenient, Comfortable
Who wants to sacrifice? You want easy access to everything you need…great food, your favorite products and tools, service providers you can depend on…people who “speak your language” and who care about all their neighbors, no matter where you’re from, what you look like, or who you live with.
Panama is a place where you can have a “soft landing” and easily settle in.
With a long association with the US (since the canal building days) means you won’t “do without” one little bit. You’ll find 5-star restaurants, gleaming shopping malls, and designer boutiques stocked with luxury items from Louis Vuitton, Cartier, Gucci, and more (and plenty of discount stores, too),
You can live in a luxury penthouse with a 24/7 on-site concierge and park your yacht nearby…all far more affordable than you might imagine.
Food
Whether you’ve got a taste for champagne and caviar or beer and brats (or you’re vegan, glucose intolerant, or on any special diet), you’ll find everything you need in the country’s sleekly modern supermarkets. Mercados (farmer’s markets) are there for all your fresh produce, seafood, and more. Don’t worry if you don’t have cash. Even the smallest vendors use mobile money transfer apps similar to Venmo.
Public Transportation/Ubers
A new modern public transit system has made getting about the city a breeze. Or take Uber just about anywhere; for pennies on the dollar (a ride through town is typically just $3-$6).
Tap Water/Amazon/Airports
You can drink the tap water and even order from Amazon. A flight to North America is a short hop. (Panama’s newly super-modernized Tocumen Airport is called the “Hub of the Americas” for good reason. From here, you can easily get anywhere in the world, currently 82 destinations with more coming, and often via direct flight.)
Safety
Panama is one of the safest countries (if not the safest) in Latin America, including for single females. Yes, there can be petty crime in some areas, but there are strict drug and gun laws, and you rarely hear of violent crime. By the way, the main highways in Panama are excellently maintained and taking buses or driving…especially once you leave the hectic city…is safe and easy.
Climate
Mild temperatures make Panama an ideal choice. Days are warm year-round with cooling ocean breezes and cooler temperatures in mountain locations. And Panama is below the hurricane belt so no worries there—ever.
By the way, Panama is a regional leader in climate change efforts, spurring the early adoption of zero-emission fuels and technologies in its massive shipping sector to help lower global temperature rise. When you visit Panama, be sure to plan a visit to the Panama Canal, one of the world’s most amazing feats of modern technology.
Economic and Political Stability
The Panama Canal, in fact, is the driver of the economy, which after a pandemic era slump is now regaining its momentum. The US dollar is the official currency. Home to the world’s second-largest free-trade zone, Panama is the biggest recipient of foreign direct investment in Central America. And it’s attracting more and more multinationals, including the likes of Dell, Procter & Gamble, Adidas, Caterpillar, Nike, etc. Democracy is alive and strong. Government focus is on trade and commerce, not on power plays. There’s not even an army as there is no need for one.
English/Literacy
One more feather in Panama’s cap: The literacy rate is more than 95%. English is a required subject in schools. There are 88 institutions of higher education in tiny Panama which is about the size of South Carolina.
Healthcare
No matter how good your health is today, you never know what lies ahead. Knowing you have access to excellent care is so important for your peace of mind. And we’d never recommend a place where you wouldn’t have access to top-quality care at an affordable price.
These are important considerations… You surely want to choose a place where your cost-of-living decreases and your quality-of-life increases.
Panama delivers those, too, of course, and if you think it might be worth your focus, here’s where to get more info.
