Retirement in Panama is big these days, and there are many communities that cater to expats of all ages and budgets. The western mountains of Panama have long been a top retirement destination for both expats and locals, especially Boquete. But recently, and under the radar of many, another local town in Chiriqui has been quietly becoming the ideal destination to settle down in Panama. That town is Volcan, and while it’s a bit smaller and quieter than it’s neighbor Boquete, it has lots to offer as a relocation destination, and it’s getting better every year.

Why Volcan?

Volcan is appealing to expats, especially retirees, for many of the same reasons Boquete is. It’s nestled in the heart of the western sierras of Panama, about 45 minutes from David, and a 7-hour ride from Panama City (40 min flight via David). It’s called “Volcan” (Volcano in Spanish) because it’s located right at the foot of Panama’s biggest volcano, Volcan Baru. The location is remote, and that seems to be the draw for a lot of people. Volcan truly has unique scenery for Panama. It’s cool and dry (68-75 F) with lush green fields, bright colored flowers, and plants covering nearly every open space in the area. It’s visually stunning, and temperate enough not to need A/C or heat. If you’re an outdoors person this truly is your place.

Another great draw to Volcan is its peace and serenity. The town is very small, and the surrounding area very quiet with little traffic, and lots of open air space to hike, drive, or hang out in. In the center of town there is a supermarket, a few banks, and a number of restaurants that cater to both local and expat tastes. Unlike Boquete, the town is fairly spread out, so having a car is crucial. Volcan isn’t the right place if you’re looking for nightlife or big city conveniences, however they have all the basics you need to get you by, and a well maintained road to take you into the city (David) should you need anything from there.

Cost of Living

Another great draw to Volcan for expats, especially retirees, is the cost of living. In general, the cost of living in Chiriqui is very cheap, however in some of the more popular retirement towns, you’ll see small amounts of price inflation geared towards foreigners and tourists. Not in Volcan, at least not at this point. Property is very affordable and land is abundant. Food at restaurants about half of what it costs in Panama City, and basic services and utilities are low. Due to the temperate climate, A/C’s are seldom used, making electricity very cheap.

Simple Country Living at its Finest

If it’s low-cost country living you’re looking for, Volcan truly is one of Panama’s best locations. It’s safe, clean, friendly, and affordable. There’s a great small-town feel to Volcan, and although new residents do not overrun it, the expat community is big enough to give you a support base if you feel a bit homesick, or are new to Panamanian culture. Volcan is right in the middle of the coffee farm region of Panama, and there are many tours, shops, and cafes that specialize in showcasing the riches of the coffee harvest. You can even smell the local produce as you drive through the winding hills and up through the town and its surrounding area.

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Retiring in Panama has been popular with many North Americans and Europeans for quite some time now. Over the years, the country has offered fantastic options for expats to spend their retirement in comfort, at a great price, with many amenities and activities to make it all worth while. Have you been thinking about retiring in Panama? Chances are, you’re overwhelmed with all of the information out there. When you do commit to retiring in Panama, it’s time to get ready to live there. That takes some preparation, and more importantly, leveled expectations.

With so many options for retirees in Panama, it can be tough to gauge where you fit in, and how you’ll feel once you’re here. Don’t worry! That’s what we’re here for. Here are some basics that you can prepare for and expect as a new arrival, once you’ve taken the leap to make Panama your new retirement home.

Getting to know your community

As a new arrival to Panama, no matter where you choose to live, one of the most important first steps is to get to know the people and culture of your community. Many retirees choose to live in communities with large expat populations, and other retirees. Others choose to live in more local communities. There’s no wrong choice here (it’s all about preference), but no matter where you choose to live, it’s important to to immerse yourself in your community. Panama is a country that values community and culture, and the best way to smooth out your transition into a new life here is to get to know your neighbors. Go to local events, attend a town (or neighborhood) meeting, volunteer, and introduce yourself!

Adjusting to the climate

It seems like a silly warning if you love the heat, but even the most warm-blooded amongst us can get a bit overwhelmed in the tropics if we’re not careful. Panama has a year-round hot climate with about 8 months of heavy humidity and tropical rain. If you’re an outdoors person, try to do your activities in the early morning or late afternoon, to avoid peak heat. Also, from May to December, bring an umbrella with you and expect rain, particularly in the early afternoons. Remember, no matter how much you love the heat, you need to make sure not to overexpose yourself to the sun, drink lots of water, and don’t overexert.

Struggling with the local language is OK!

One thing that many of the retirees face when first arriving to Panama is a bit of a culture shock with the Spanish language. This is very normal for people who are experiencing their first residency somewhere that their native language isn’t spoken. The trick to getting by is to actively try and learn Spanish, practice with locals, and don’t get too hard on yourself if your Spanish isn’t perfect. It takes years to fully master a language, but as long as you put the work in and try to improve, you’ll find your retirement is a lot more enjoyable. Better yet, you’ll also find that people are more endeared to you and respect you as an expat. Learning a new language can be fun, challenging, and a great way to keep yourself motivated during retirement. Don’t miss this opportunity!

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Retiring to Panama is growing in popularity, and many people from all over the world are making the decision to make Panama their permanent home, as they head into retirement age and pensions. One of the most important aspects of planning your retirement to Panama is setting up a budget that will meet your needs and comforts. Luckily, in Panama, there are plenty of options for retirees (whether pensioners or not) on a limited budget, and lots of great outings and activities you can do at a fraction of the cost you would at home. Here is our top five.

1. Eat local, shop local.

The best way to enjoy Panama on a limited budget is to do all your shopping, when possible, from local sources. This means that you will need to do a little footwork, and a bit of research into your local neighborhood, town, or city. At the supermarket, but brands that are made in Panama. Go clothes shopping at smaller businesses, and locally branded department stores. The same thing goes when you go out to bars and restaurants. Avoid nightlife catered to tourists, and look for where locals go to hang out, and even fellow retirees. You’ll be shocked to see how far your money can go when follow the lead of the locals.

2. Ride public transportation, when available.

Another great way to get the most out of Panama (and have fun) on a limited budget is to use public transportation to get around. A bus ride is about 30 cents, and you can get pretty much anywhere in the country for less than $15 if you’re traveling long distance. While taxis are relatively cheap, and cars may be a bigger convenience long-term, public transportation is a great option, and one that could save you thousands per year in expenses.

3. Pick your real estate wisely.

Whether you rent or buy, choosing where to live, and how you live is critical in saving money when retiring to Panama. There is a huge luxury market in Panama, which is relatively expensive for many retirees, but it isn’t the only option. For buying or renting, find a house/apt. that is away from large city centers, and look for areas with lots of local families, or local retirees. Another piece of advice is to see lots of places, in lots of areas. There is plenty of competition out there, so try to see a wide range of options before committing to a price.

4. Use your “jubilado” card.

All retirees in Panama, both foreign and local, have a wide range of benefits granted to them by their “jubilado” status. This retirement status allows for 25-50% discounts on services, flights, medicine, and a host of other valuable day-to-day items. This will drastically reduce your cost of living, and make it much easier to splurge a bit with your budget. You can apply for a retirement visa which includes “jubilado” status, and as long as you’re in the country, and don’t stay out of Panama for 2 years, it won’t require renewal. Panama is a very welcoming country when it comes to foreign retirees, and with these great ways to save money, you will be able to enjoy the city in style.

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If you’re planning on relocating to or retiring in Panama, chances are you’ll need to do some adjusting. This isn’t to say that it’ll be a bad experience; simply that moving to another country, and another culture, involves a lot of changes in a very short time. Getting personally adjusted to a new life, and new lifestyle, can be extremely rewarding, and actually a lot of fun. Here are some simple tips to help you adjust to Panama, and make your stay, or new life here, much easier:

Shipping/Logistics

It goes without saying that shipping and logistics are the safest bet for investing in Panama, in 2019 or otherwise. However, 2019 looks like it will be a banner year with the Panama Canal Expansion continuing to increase a ton of new Post Panamax traffic through, which means big business for shipping and logistics companies. It also means big investment opportunities with fuel companies, land freight, and ancillary Canal business all throughout the service sector. This is not just a great 2019 investment, but one of the best sectors for sustained future growth as well.

Start learning Spanish before you arrive.

It’s safe to say that most people who move to Panama, even for short periods of time, actively try to learn Spanish. We think this is very important, and recommend you actually start early, so you can hit the ground running when you get here. Learning a basic foundation before you arrive will make getting by much easier from day one. Plus, your Spanish lessons in Panama will become that much easier.

Leave most of your stuff at home.

So many people that relocate to Panama make the mistake of overpacking, and stressing out over bringing all of their things on the long move. The simple solution: leave as much as you can at home. Panama has lots of shopping available in practically every part of the country, at pretty low prices. So, if it’s not an heirloom, or something that’s vital, we say save the stress and just leave without it. You can always replace simple things here, and in the end, it will actually save you money (not to mention time and stress).

Get used to a slower pace of life.

Many people who come to Panama complain that things go a bit slower down here. This is true, but it’s not necessarily a bad thing. One of the best aspects of living in Panama is the slow, relaxed pace of life, and low stress culture. We recommend that you accept this, and go with the flow. This will make life much easier, and (even if you don’t realize it now) make you much happier!

Buy local products.

Panama has a ton of imports when it comes to all types of retail and food products. And while this is a fantastic luxury to have, it can also get expensive. We recommend shopping for mostly local products whenever possible. As far as clothes, groceries, and hardware, this can save you thousands each year. Plus, it helps stimulate the smaller businesses and local domestic economy. That’s a win/win.

Don’t underestimate the heat.

Panama is hot, really hot. And while pretty much everyone is aware of this before coming, you still need to prepare for how to handle it in your day-to-day life. Wear loose, summer clothes when you can. Drink water constantly throughout the day. Also, try to avoid direct contact with the sun during the hottest hours of the day (11am-3pm).

Open a local bank account immediately.

Even though there are many international banks and ATMs to get cash from if you’re a foreigner, getting a local bank account as soon as you arrive is critical. Nearly all of your transactions can be more financially beneficial through a local bank, and you can build local credit here from the first day you open one. This also saves you on ATM fees, and any local hiring you wish to do. Don’t let this slip through the cracks!

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For most people who move to Panama, the cost of living, and being able to enjoy more on a limited budget is a big part of the draw. Living on a fixed income in Panama is not only possible, it’s a reality for many expats, and one that still allows them to enjoy life to the fullest. In Panama, living on a budget is all about choices, and knowing how to navigate the lifestyle you want, in the setting provided for you here. Whether you choose to live in the city, on the beach, or up in the mountains, you will find what you need, and at the budget you choose. Here are some tips how.

Find affordable housing.

Many people who come to Panama without doing much research first will find that their first impression of the real estate market is that it’s expensive. That’s because in Panama, much like anywhere else, there is an enormous variety when it comes to housing type, prices, and whom places are marketed to. If you shop around, and do some thorough due diligence with trusted realtors, you will find some great deals for both rentals and purchases. Remember, the center of Panama City is largely more expensive than other, less central areas, so looking at places a few miles out of downtown will save you thousands over time.

Try to limit buying imported products.

Panama has tons of imports, for lots of industries and markets, and that’s a great thing for variety. However, many of the imports come at a steeper price, which (for some) can drive up the cost of living, especially when you’re on a budget. There’s a way around this, though: buy local goods. Buying local Panamanian foods, clothing, hardware, and services will save you lots of money, without too much difference in quality. Of course, buying imported products can still be a part of your lifestyle. However, if you create a balance, you’ll find that your fixed income will go much further with more local goods than not

Cut down on your electric use.

Panama is a hot country, and because of this, many people love their A/C. But did you know that without heavy daily A/C use, and lots of lights going, you can reduce your total electric bill to under $40 a month in Panama? Most of Panama has a breeze strong enough to cool down your house significantly if you keep the windows and sliding doors open (with screens, of course). Plus, with such warm, tropical surroundings, you will need very little electric use during daylight hours, as you’ll be out enjoying all that great weather. You can easily lower your bill by $100 by simply limiting you’re A/C usage to 6-8 hours at night, while you sleep.

Take public transportation.

Public transportation is dirt cheap in Panama, and is the primary way most Panamanians get around. In the city, you’ve got clean air conditioned buses, as well as a subway to get you anywhere you need to go. In the countryside, you have smaller air-conditioned buses, with comfortable seats, and flexible routes, depending on how rural you are. The standard fare for public transportation is around 30-40 cents, and goes up by pennies the further away from your destination you are. If you opt out of taxis, and take public transportation 5 days a week, your total monthly transport bill will be around (or under) $15. Now, that’s a steal!

Do as the locals do.

One of the best ways to live on a limited budget in Panama is to live in the carefree, low cost style that many locals do. Panamanians typically make $800 or less per month, and live relatively comfortable for it. Panamanians are also some of the happiest, least stressed out people in the world. If you plan on living in Panama, use the Panamanians as a model for how to be happy without blowing the budget, and how to live life moment to moment for what it’s worth. Trust us, you’ll be better off for it, budget and all.

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Moving to Panama can be a big step in life, and an even bigger one when it comes to making new friendships. Let’s be honest, changing countries, cities, towns, and cultures can seem a bit overwhelming for many of us, no matter where we’re from. For many expats, finding friendship can seem like a daunting task. It takes a lot of courage to put yourself out there in a new place, but with a bit of guts, some open-mindedness, and good communication skills, it’s a lot more pleasant than it seems.

If you truly want to adjust to your new life in Panama, familiarize yourself with the country and culture, and get the most out of your social life here, there’s one way you can fast-track it more efficiently than anything else: make friends with locals!

Last Tablas:

In the town of Las Tablas, they prepare for Carnaval all year long, and it’s by far Panama’s biggest Carnaval celebration. Las Tablas is famous for parades that split the town into two sides – Calle Arriba and Calle Abajo – who then compete for the attention of the crowd. This creates for an electric atmosphere of parade floats, outdoor dancing, food, music, and the famous “culecos.” Culecos are essentially giant water trucks that spray the crowd throughout the day to keep them cool, and spice up the party a bit.

You can reach Las Tablas by car or bus, but know that it’s about a 5-hour drive from Panama City. You can also fly to nearby Pedasi (45 min flight), and take a short drive to Las Tablas, but make sure to book ahead as flights are small and sell out fast.

How to endear yourself with locals in your new hometown, and new country

For starters, let’s be clear on what a “local” is, in terms of this discussion. A local in this case is someone, whether Panamanian or foreign-born, who has lived in Panama for a large portion of their life, and has “roots” there, so to speak. As an expat, you’ll often run into people who, like you, haven’t set their roots down yet and are unfamiliar with both the Panamanian lifestyle and local culture. That’s OK, but remember that these friends will also be looking to familiarize themselves with Panama, which means they will be in the same boat as you.
For these reasons, it’s good to go out of your way to find social events, groups, and communities that cater to locals, and participate in them. Of course, you should socialize and make friends with fellow newcomers too, but you’ll find that if you lead the charge to become more locally familiar, you’ll have a much easier time getting by, and you’ll be happier.

Learn how to speak Spanish

This may seem self-explanatory, but learning how to speak the local language (Spanish in this case) is the quickest and easiest way to ingratiate yourself with local culture in Panama. It opens many doors, both socially and civically, and is a sign of respect that locals appreciate and are endeared to. Learning Spanish will help with local social gatherings such as community meetings, birthday parties, networking events, and holiday celebrations. It will also help with day-to-day tasks, which will come in handy throughout your time in Panama.

Don’t rush yourself or criticize yourself if you don’t pick up on a new language in the first few months. Learning a language takes time. It’s a process, it has its own growing pains, but in the end it’s always worth it. Plus, think of learning Spanish as the FUN part of making new friends! Locals are mostly more than happy to help you learn through conversation, and will help you with your mistakes when you make them.

No matter how you choose to acclimate yourself, make new friends, and adjust to a new culture when moving to Panama, remember: there’s no “one size fits all” way to do it. Go at your own pace, be mindful of how things are done, be kind, and remember that this is a journey. Make it a great one!

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There’s lots of talk about how Panama is the #1 expat retirement destination going around the web these days, and to be perfectly honest, it’s been that way for some time now. Panama is a huge destination for retiring for a lot of reasons, and as we move ahead through 2019, it seems like there’s no better time than now to take the plunge. Panama has a vibrant expat community spread over all parts of the country, and the retirement community plays a big part in all of it. Retiring in Panama can be both economically beneficial, as well as greatly increase one’s quality of life, and give you the perfect retirement that you’ve always wanted, not too far from home. Here are our top 5 reasons to retire in Panama this year!

1. Cost of Living:

If you’re on a fixed income (social security, pension, extended family income), or just want to control your budget a bit, then Panama is a great place to retire. Yes, as many people have noted, things can get a bit pricey in Panama, however there are still many, many affordable options for retirees of all budgets. Plus, if you compare the style of living, and the quality of living to that in North America and many parts of Europe, the value is much higher in Panama. It’s just a matter of finding the perfect place for your lifestyle needs, and matching it to your budget, and thousands of retirees who are already here have done just that.

2. A Growing, Evolving Country:

Panama has an economy on the rise, and an infrastructure that is constantly evolving and modernizing right in front of our eyes. This is a huge benefit for all expats, locals, and of course, retirees. A constantly growing and modernizing country means lots of new and better services for retirees, including better housing, better roads, better public transportation, better medical services, and more convenient retail and shopping services. It also means that if you buy property, there’s a good chance the value will go up significantly in the future, should you want to generate investment income to leave to family, or use yourself while you’re in Panama or elsewhere.

3. The Weather:

Let’s be honest, as we get older, our penchant for spending time in cold climates tends to decrease dramatically. For many of us, cold weather is a nuisance at any age, and by the time retirement comes around, we’re just sick of it. This is why Panama is perfect for warm weather lovers! It’s literally never cold in Panama, even in the cooler towns of the western highlands. Panama’s weather is wet during the rainy season, dry during the dry season, and between 80-90 degrees all year round. If heat’s not your thing, towns like El Valle and Boquete offer a cooler feel (60s-70s) while not requiring jackets or heating. It’s summer all year round in Panama, and that’s a huge reason the people smile so much.

4. Real Estate:

Panama is one of the most diverse markets in the world when it comes to available real estate, which makes it perfect for both potential renters and buyers who want to retire here. Due to the abundance of real estate, you can get some great deals, and have lots of choices when looking at where you want to live, and what type of property you want to live in. Buying real estate in Panama is a great investment, and you can rent for cheap (and high quality) while looking for your ideal place, or just rent long term as a retiree. Whatever you choose, you’ve got lots of prices and choices, so make sure to find the perfect fit.

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Are you trying to plan your Panama retirement, and just not so sure how to do it? Don’t worry, this is a common feeling, and it’s completely understandable. Planning you retirement isn’t easy, especially if you’re moving abroad. There’s a lot to consider, and in the end you want to make sure you’re making decisions that are the best for both you, and your family. If you want to plan your Panama retirement properly, you can do it a lot simpler if you are well informed, and plan ahead. That’s why we’ve come up with a concise list that will help you plan your Panama retirement simply, and effectively. Here are four simple steps to get you on your way.

1. Set your budget:

This goes without saying for any retiree, but it’s especially important if you’re moving abroad. Prices in Panama tend to be lower, but not across the board. First, you need to see how much you will be allotting yourself each month. Second, you need to see what that gets you in Panama. Always remember to over-budget and leave yourself some wiggle room just in case. To give you a good idea of this, check out our cost of living guide.

2. Arrange your immigration paperwork BEFORE moving:

Panama has a great system of benefits for foreign retirees, and they can only be obtained through a special visa (known as “pensionado”, or “pensioner”). Once you’ve decided that you can afford to retire in Panama, and it suits you, it’s critical that you get the ball rolling on all of the paperwork. We can help you through each step of this process, both in Panama, and in your home country.

3. Choose the best community for you:

Panama is a very diverse country when it comes to living spaces, topography, and even climate. If you like big city living, then Panama City is your place. However, there are also lots of wonderful mountain and beach communities that draw many retirees, such as Coronado, El Valle, Boquete, and Volcan. We recommend you visit Panama to get to know these places first. You can also do some online research and talk to other expats there through online forums and social media groups.

4. Plan your medical coverage thoroughly:

An important step when you plan your retirement in Panama is to make sure your home medical insurance will still cover you, or if it’s still worth keeping. Panama has very good medical coverage, and in many cases, it’s better to drop your home country coverage and opt for a local Panamanian plan. Check with your provider and make sure they give you details before you make a decision. If you are on Medicare, you can check here.

Now that you’ve got a head start on what you’ll need to plan your retirement in Panama, you’ll have plenty of time to concentrate on all the fun stuff once you’ve arrived. Retiring in Panama can be a great life-changing decision, and if you’re well prepared, it will go that much smoother. Remember, if you have any questions along the way, we are here to help. Good luck on the next big step and a wonderful retirement!

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No matter what the reason you’re living in Panama for (or even visiting), you’re going to want to know, and learn as much Spanish as possible while you’re here. This is not only a great way to get by, but will endear you to the locals in a way that you can’t do without speaking their native language. Panama is a country of contrasts, cultures, and yes, languages. And that means that lots of languages are spoken, and respected amongst Panama’s inhabitants. Spanish, however, is the country’s official language, as well as its most widely spoken. We recommend you start learning a bit before you arrive, and hitting the ground running once you get here. To make things easier for you, we’ve put together a list of 5 great ways to practice, and master your Spanish while in Panama!

1. Watch TV/Movies in Spanish.

This is an easy, and fun way to pick up on nuances that you may not get in class, or from a book or app. If you’re a beginner, try watching kids shows, or simple, non-dialogue heavy movies (action, teen movies). When you start getting better, try watching local newscasts. You will learn a ton of vocabulary, as well as (often) proper pronunciation. Even better, you’ll stay up to date with what other Panamanians are watching/paying attention to, and this will give you lots to talk about (and practice Spanish) with locals.

2. Take group classes.

It’s a no-brainer that one of the fastest ways to learn Spanish would be to take Spanish classes, but you’ll find you’ll learn much faster in a group setting. Why? It’s simple. Although you get less attention from the teacher, you’ll have a pier group that’s more or less at the same level as you. This way you can comfortably bounce questions off them, learn from their mistakes (as well as yours), and their successes. Plus, it’s a great way to make friends, and will help boost your confidence when talking in public.

3. Hang out in social settings where Spanish is the only language spoken.

While the mere sound of this may seem scary, especially if you’re not confident with your Spanish, this is the most effective way to practice and learn any language. Yes, it’s tough, and frustrating, but it will also jump start your brain into making you communicate. Most Panamanians will be patient with you as you practice, and the mere fact that you’re trying your hardest will make people want to hang out with you even more. It’s a win/win in our books, even if it takes some getting used to.

4. Talk to your taxi/Uber driver.

Drivers love to talk to their customers. It’s a worldwide fact, and Panama is no different. Being in the car all day can get lonely, and drivers are often curious to talk to foreigners, to find out more about them, and why they chose Panama to work, live, or retire. This is like a free (well, you still need to pay the fare) one-on-one Spanish class, and you can get a lot of practice with simple small talk as well. Taxi and Uber drivers are very local, so it’s also a great way to learn about local politics, social trends, music, and pick up on the local accent.

5. Download a companion app.

There are so many great language apps out there, that not having one would be silly if you’re actively trying to learn Spanish. Apps will give you on-the-fly tips and vocab as you go through your day-to-day life in Panama, and will add huge value to your classes, as you will be continuing your language education long after you leave the classroom. We’re all on our phones all the time anyways, so you might as well take advantage, and sharpen your Spanish skills while you’re at it.

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