Weekly Newsletter
March 28, 2005

So you want to retire to Panama.
Paradise Service S.A.
Newsletter #1 Volume #1

Panama is a beautiful country and the living is easy. Most of what you read on the Internet is at least partly true. There are a lot of advantages for retired people on fixed incomes, but for those accustomed to the conveniences of modern life in the United States, some adjustment will be necessary

Retirees of any age who are legal residents of Panama and men over 61 and women over 56 are entitled to discounts from restaurants, hotels, airlines, utilities including telephone, and druggists. Discount range from 10% to 50%. Banks, public utilities and many private businesses have special cashier lines for retirees.

The cost of living is generally lower than in most other countries in Latin America and the quality of life is better than other “south of the border” countries.

You may hear Panama described as "first world", but the truth is that Panama is a third world country with some first world amenities. While Panama City has most of the amenities you are accustomed to, many rural communities don't have electricity, running water, or sewer systems. Many are isolated and can be reached only by off-road vehicles and others only by boat or on foot. Wages are low. Employers like Dell, which runs a large call center on the old Howard Air Force Base pay only $500.00 per month for entry-level operators and those jobs require fluent English. Maids earn as little as $100.00 per month and many laborer jobs pay $250.00 per month.

While there is excellent health care available in Panama City, the rest of the country may not be up to the standards you will expect. Do not accept at face value the claims of $5.00 visits to the doctor. There are doctors, even in Panama City who charge low fees, but the current going rate for visits at the better hospitals/clinics is $40.00. Medicine is less expensive than in the US and the up to 17% discount for seniors really helps. Some very effective but FDA unapproved drugs are sold here. Most major health insurance is recognized here, and military retirees are covered by Tricare. For the adventurous, “Bush Doctors” are easy to find.

In future issues, I will talk about all these points in more detail. If you find my newsletter interesting and/or helpful, please forward it to friends you think might like to receive it. If you received this from a friend and would like to subscribe, drop me a note at retire@panamaretire.net.

Our website at http://www.panamaretire.net should be online by the end of this week. In the meantime, I invite all of you to visit the forum at http://www.panamaretire.net/phpbb2. It's brand new and is a place where you can post your own experiences or ask questions of folks who live here.