Miami Herald article writes about Gringos Living in Panama - Lots of facts given

[daytrader]

Some interesting pull-quotes from the Miami Herald on 4/22:

"From the balcony of his 12th-floor condo, retiree Bill Dorgan can see the ocean and a skyline that changes almost daily as high-rises pop up on the horizon. He could be looking out on any number of South Florida neighborhoods. Instead, he's a 2 ½-hour plane ride away in Panama City, Panama, one of the hottest new retirement havens in the hemisphere.

...As a foreign resident on a pensionado visa, he won't have to pay property taxes for 20 years on the 2,500-square-foot condo he bought and renovated for $170,000.

.....'Panama is where Costa Rica was 15 years ago,'' Dorgan said in a phone interview, ``but it's more accepting, more accommodating and the money is the American dollar, so we don't have to worry about exchange rates. You can still get a great buy here compared to South Florida if you're willing to try something different.''

 ....No one tracks how many Americans have retired abroad. Overall, 242,128 American retirees had their Social Security benefits sent to foreign countries, according to data from the Social Security Administration. That was up slightly from the 219,504 who listed a foreign address in 1999. Those numbers don't represent all of those retiring overseas, however, since many people keep a U.S. mailing address.

....Companies like International Living that conduct research trips for potential investors and retirees say their groups are growing younger. Many people in their 40s and 50s are now showing up at seminars with topics such as ''Paradise Within Reach'' and ``Ultra Luxury Lifestyle Made Possible in the Tropics.''


link is below:

http://www.miamiherald.com/884/story/81935.html

From what Papi has said in the past, sounds like real estate prices have zoomed skyward in Panama as Costa Rica has become too pricey...

DayTrader

[utopiacowboy]

I would be careful about International Living. They have an agenda and they push some pricey real estate by local standards. All said and done, retiring abroad can be a good idea. I'm looking into Zimbawe myself.

[soltero]

Some interesting pull-quotes from the Miami Herald on 4/22:

Overall, 242,128 American retirees had their Social Security benefits sent to foreign countries, according to data from the Social Security Administration. That was up slightly from the 219,504 who listed a foreign address in 1999. Those numbers don't represent all of those retiring overseas, however, since many people keep a U.S. mailing address.

I am interested in how many of that number are foreign born in the first place. Many foreigners come here and when able to retire, go home and live like fat cats off of Social Security and the money they sent home and stockpiled while here.

Just curious...

[pan de bono]

did Ut say Zimbabwe, thats funny.
hmm lets see its time to retire where should i live? Florida? Arizona? Panama? Hawaii? Costa Rica? Colombia? no i think i'll live in Zimbabwe

[Jeff S]

Hey, don't put down Africa. See what 300 grand will get you in one of the safest, friendliest and freest countries in Africa: http://www.viviun.com/AD-54134/ With a social security income you could live like a king.

[blockbuster]

 I have friends from South Africa and have seen pics. It looks really great. The country is beautiful, great weather good class of folks there and prices are cheap. I have recently begun to check it out along with Argentina as a retirement option .

[curranti]

I have a condo in Panama, I have spent alot of time down here and spend a week every month.  I would recommend it.  Good food, great people, nice beaches, and lots of colombian girls running around, inexpensive living well kind of.  Its getting expensive.

[Nicks]

Guys, there not that many retired gringos in panama, most of the people moving here are from other latin countrys, the expats from USA tend to hold up in the entierior of the country where its cheaper to live. Sure, there are some in PC, but its nothing compaired to venezuelans and colombians.

as our friend here mentioned, plenty of nice colombianitas, for Pay and Play, and coming more every day....

nicks