I lived in Panamá for tree or four years, near the Costa Rica border and the city of David, Panamá's second largest city, about an 8 hour bus ride from Panamá City. Panamá is great for retirement but only if you already have a woman and she doesn't mind living there. If you are looking for a woman in Panamá's interior which means other than Panamá City, forget it, almost all of them carry a spare tire and the few attractive ones are taken care off by well to do locals.
I don't have much info on the capital, other than there are thousands of good looking Colombian women, many of them without a visa, but I suspect many of them pros and gold diggers as well.
There is a very impressive mall just outside the city, called Albrook Mall, it is huge.
There is also an excellent place to shop, in the city of Colón on the opposite side of the Canal, with INCREDIBLE BARGAINS. Currency in Panamá is the U.S.dollar. Daytime temperatures up to 30/32, at night 25, rainy season December to April. There is a cooler area near Vulcan Baru, a town called Boquete, but real estate is not cheap. New townhouses sell for $30'000 to 40'000. Property taxes are low. Groceries cost the same as in the States, so do cars, used or new. There is crime in the capital but very little in the interior. Any questions, feel free to ask.