InVinoVeritas

Hi everyone, just thought I would add in my two penny worth as this is a subject I investigated a while ago.

I started my retirement planning in 2005 and Panama seemed an interesting destination. I went there in 2005, again in 2006 and finally in 2013 for a total of 9 weeks. I retired in late 2013 to.......Malaysia!

There are a number of reasons behind my decision but perhaps the most pertinent are the following:-

Language - I travelled all over Panama and really loved the place from a tourist perspective. It is stunningly beautiful and has incredible wildlife and is good value for money. But English is not widely spoken outside of the main tourist haunts (except for Boquete) and not speaking any Spanish myself I sometimes found it very difficult to achieve any substantive communication.

Medical - speaking to a couple of expats it was clear from their experience that medical facilities outside of Panama City are pretty poor - one of them had to be transferred from Santa Catalina to PC by taxi and the other was transferred from Boquete first to David and then to PC and then repatriated to the UK. My partner also got ill (nothing serious) in El Valle and we found the clinic there was extremely basic.

Eating out - you can eat well in Panama but good restaurants are few and far between. In PC you can find most types of restaurant but outside PC the choice of cuisine is much more limited.

Travel - domestic travel is limited to the roads. There are virtually no railways or domestic flights. We visited the new airport in David but, at the time, there was just one flight per day to Tokumen although this may have increased. They were also building a new airport at Rio Hato to serve the Playa hotels but this is of no real use to the locals. You probably have already discovered that the only direct flight between Panama and Europe is via Madrid. Flights to Panama are relatively expensive.

US expat evacuation - the big difference I noticed in 2013 was the number of empty and unfinished properties as a result of the exodus by US expats after the Panama/US tax treaty was signed meaning that US expats could no longer avoid paying their US taxes. A Brit I know (who is also now in Malaysia) had purchased a large of tract of land for development just below Boquete and, as a result, found himself unable to sell a single parcel.

Finally I would just repeat what I was told by an expat living there regarding the pensionado discounts. He never claimed the discounts because he knew that the restaurant or hotel would make no profit after giving away a 25% discount.

I hope all this helps in your research (and njf too) If you have any questions I would be happy to answer them.

teejaydee

Many thanks IVV for taking the trouble to make these comments. It's always useful to hear the experiences of someone who has spent quite a bit of time in a place.

I too do not speak Spanish, and would be concerned about feeling lonely and isolated if I could not communicate with those around me. This applies not only to Panama of course. I am sure I could learn Spanish, but there is a big difference in being able to speak enough to order a meal or buy a bus ticket, and being able to hold a meaningful conversation on a variety of topics.

Again, the language barrier would add to the problems. As I get older, the availability of good-quality medical treatment becomes more of a priority. Being transferred from one place to another is always stressful.

One thing very much in Malaysia's favour is the variety of eating establishments, from roadside stalls through food courts to fine restaurants. The choice of food is good and is usually of a high standard.

I have heard a lot of these people moved on to other central and south American countries that do not have a treaty. Some will presumably have returned to the US. Those who returned to the US may also have been dissatisfied with life in Panama. One quote I remember from a YouTube video I watched was that many Americans though Panama would be exactly the same as the US but cheaper.

I would like to ask a question please: How does the Panama City's climate compare with Malaysia's? I am familiar with Malaysia's climate. I have looked at the climate charts for Panama City, and the temperature seems to be around the same as Malaysia. The rainfall seems to be greater in Panama City. What does the humidity feel like compare to Malaysia's humidity?

InVinoVeritas

My answer is going to be pretty subjective as I only really know Penang and I have only been to Panama in the dry season but yes it felt less humid in Panama City and much less humid in Boquete. I did experience more rainfall in Panama even though it was the dry season.

I suppose I should have mentioned air quality as well which, outside of Panama City, is very good whereas in Malaysia.....

teejaydee

The climate in Boquete sound ideal, but the lack of facilities is a concern to me. That is why I was wondering what the Panama City humidity was like. One thing I dislike about Malaysia is the high humidity.

Good point about the air quality. I hadn't thought of that. Some of the YouTube videos of Boquete mention the clean air. I do wonder about the long-term health effects of breathing the hazy air in Malaysia.

Bud the Wiser

FYI: Retirement Wave have started to do seminars/conferences.

From an e-mail in received.

<The conference will have video conversations with a variety of people here, both expatriates and Panamanians, discussing a wide variety of topics from starting a small business of your own to the legal requirements for residency, and a long list of others. Some of the videos will be "live-streamed". That means that people attending at the time will be able to ask their own questions and get direct answers. You will be able to ask a lawyer your question without having to fly down to Panama and sit in his or her office. We will be concerned with the information required by people just wanting to move to Panama, but we will also be helping people who are looking to invest.

"Investment" does not only mean real estate, although that will be covered in the conference. There is a lot happening in Panama and there is an excellent non-profit organization deeply involved in developing new businesses. We are very honored that they have chosen to be a sponsor of our conference. This will be the first time that expatriates will be introduced to their work and the many other investment possibilities in Panama.

There will be expatriate speakers from Europe and Latin America as well. A growing number of RW members do not come only from North America and they deserve to be included in our presentation too.>

More details if required.

Bud the Wiser

Five part article from the Huffington post about retiring in Panama.

Part one: Is Panama Truly a Retirement Haven? Part 1 of 5 | George Rajna

teejaydee

Very interesting article, and one that paints a very different picture to that given by International Living and Kathleen Peddicord.

The author did not say if he was able to speak Spanish, but he seemed to have enough problems without communication difficulties. I have long wondered if the hype surrounding Panama (and other central American countries) was justified. The contents of this article would tend to suggest it is not. Of course the article represents just one person's view, and I would be interested in reading his opinion of Costa Rica, where he is apparently heading.

The other four parts of the article may be found at the following links:

Part two: Is Panama Truly a Retirement Haven? El Valle and Pedasi, Part 2 of 5 | George Rajna

Part three: Is Panama Truly a Retirement Haven? Santa Fe, Part 3 of 5 | George Rajna

Part four: Is Panama Truly a Retirement Haven? Part 4 of 5 | George Rajna

Part five: Is Panama Truly a Retirement Haven? Part 5: Bocas Del Toro | George Rajna

cdn3

Although I'm far away from retiring at this point in my life this was a great write up and valuable insight.

I was wondering if you could also delve into the reasons why you chose Malaysia after doing so much research into Panama.

Bud the Wiser

Yes, I doesn't look like he enjoyed himself.

Here's another link to a site you may find interesting.

Home - Panama For Beginners

teejaydee

Many thanks. It is interesting because it seems to give a balanced view, listing the bad as well as the good points. Like everywhere, Panama is not perfect and I get suspicious if I come across a website that is full of praise for the country. In such cases there's usually a real estate agent behind it.

Bud the Wiser

Series of videos on youtube, titled 'Panama for real'. Only watched the one on Coronado so far.