Thread: Would you consider moving to Panama with only a small pension of 1400 bucks a month?

I am living in Panama on a small pension. It ain't easy. I was just wondering if there were others who would move here on a small pension and try to live. By the way, my household has 2 people. I have found out the hard way that that getting started is not cheap. A lot of the discussion on this forum is for people who have planned their retirement better than I did. I was just wondering.

I am considering moving to Panama with just such an income. When you say it isn't easy are you just speaking financially or are you refering to the Panamanian way of doing things? I would buy a home and then hope to be able to live modestly on my social security. That is what all of the hype from International Living says is possible. Are you saying they are wrong? I would be interested in learning of some of the difficulties you have run into.

I am speaking about living here period. When you are considering moving here you must have some seed money to get started. We are talking about immigration to another country. That means selling everything you own in the home that you live in now and moving to Panama. Most of what I had I donated to family members. I could have done better. I am 52 years old, and have a pension that is small. I moved here. It was not cheap really as every thing I needed from the last fork and the last spoon had to be bought. And, the quality of these items is questionable since I live in the interiour where I could afford to rent a home. Since you have a small pension, it is a good idea to have some friends who could help you navigate thru some of the normal difficulties it would take to do this move. And, of course, it would give you someone to speak english occasionally to. I live in a community with no english speakers. Not fun. It is what it is. The people here are nice. It takes time to be trusted by them. Once they realize you are part of the community they accept you. Finding someone to speak english with is normally not possible. The problem of living here financially comes from getting involved with someone. If you are married already then you can easily come together on the budget etc. I was alone when I got here so I have to deal with all the relationship issues. The people here assume that you are made of cash. You are Mr. George Washington. Green. Etc.

Living alone here is not the answer here either. So, when you find a mate then other factors cause problems. My biggest problem with my mate is money matters. She just does not get it.

But, that is another story.

I think this an important thread. There are lots of folks out there who want a different life. Lot's of divorcee's like myself have worked their entire life and are looking for something different. But, the problem is that with a pension of 1400 per month you are limited to living in the interiour. Unless you have lots of seed money to get you into a condo in to the city. I think that the condo idea is stupid right now. The market is dicey. When you first move here it is mandatory that you rent. Stay alert, stay alive. Make important decisions later. In the mean-time try to get know some people. Make a life for yourself. If this is not possible then you should not live here anyway. Living in the interiour is like taking a lesson in living simply. It is the ultimate lesson. If living simply is not for you then you should not be here. If you wish to leave a small footprint on this earth, which I believe is the responsible thing to do, then please come. I will be glad to share my ideas and thoughts. Living where I do reminds me of when I was a kid in small town Florida 40 years ago. Enjoy it while you can.

Good topic. Do you have a car? Where in Los Santos are you? Pedasi, Las Tablas? What are you paying for rent and what are you getting for it? Are you a resident now? What about health coverage? I have lots of questions as I hope to make the same move before the year is over. Thanks.

Hi!
We have been here for 5 years and live very modestly. We live strictly on my husband's social security very comfortably. We own our home and cars outright. It can be done, but it is harder now then 5 years ago when we first moved down here. We have seen prices go through the roof on property and building. You just need to look and due your due diligence. I know of houses in the area of Las Uvas and Copecito that rent for around $400/month.

Once you have a pensionado it is a little easier. You don't have to EVER leave the country vrs. a tourist visa where you need to leave every 90 days. The pensionado also allows you to get a 25% discount on your electric (1st 600 KW) and water bills, 25% of main course at restaurants, 20% off medical and perscriptions, etc. The medical is excellent!

Mary
www.whypanama.com

I've seen ads for rentals at $300 to $350 here around David and Boquete. These are not going to be large fancy places, but there are lots of places to buy cheap veggies and fruit, and the chicken and pork are plentiful and are tasty. There are a whole bunch of us that speak English around here too. I'm not sure that you went to the right part of Panama for you. There are a hundred different life style decisions you can make when you came here, it doesn't sound like you made one that you love.

Hey GHamner, if you are anywhere around the Las Tablas area I would be happy to meet with you and introduce you to the local expats. Being able to meet and hang out with people that have already done what you are doing can really be a life saver.

I live close to the Los Tablos area. Thanx to everyone who has taken the time to answer this thread. To Mr woohoo, thanx for the offer to meet me. Where is the hang out place in Los Tablos for US expats? I know of a bar that is close to the bus terminal that is supposedly owned by Americans. I also like the bar in the Piamonte hotel which is now airconditioned, which is a new addition. The other bars I have been in are frequented by the locals pretty much exclusively. For those that have asked about living expenses. Renting a house in this area(meaning Los Tablos and the surounding areas) is very much affordable, when you can find a place. I just recently found a place and put a deposit on it. The little place is very nice, in a good part of the community and will be 150 bucks per month. I rented an abysmal place to start with. There is just not that many places to rent that are nice that are in my price range. And when they are for rent, they are pretty much just word of mouth. If you go to a realtor, that is a different category of home. The rent has to rent for high enough to make it worth it to the real estate agent. So the rent will be in 4 or 5 hundred dollar per month range on the low end. The agent wants to make some money of course. I am always looking around for places to rent and the opportunities seem to come up infrequently. Of course, if you know people in the area than it would be different. Also, prices to buy real estate seem on the high price range to me. So I am staying out of that game. As far as the price for electricity etc. It is cheaper here because normally people don't use airconditioners or hot water heaters and they use gas to cook which is subsidized by the govt. Food is cheaper because people don't normally buy any processed foods. Meats are cheaper because they are not the best cuts. Except for fish. Fish is a great buy in Panama. Where else can you buy snapper on the hoof for 1.50/lb? Or large shrimp for 5 bucks/lb? Beer is 50 cents. There are good points and bad. Again, thanx for the replies.

Someone asked what I am getting for my rent money. It is a 3 bedroom apartment house. By that I mean that it is on a row of homes and has no yard. The home seems spacious. Has one bathroom. The home has a wrap around porch and is only a few short yards from the town square and the church and bars etc. The home has those old fashioned jalousy windows and a tin roof etc and also a small carport, but no yard. The kichen actually has some cabinets and the bedrooms have biult in closets and chests of drawers. There is no air conditioning or hot water. The place can be hooked up to Cable onda but I plan to use a good antenna. Supposedly I will get 10 channels or so on this system. Internet is 20 bucks per month with Panama Wireless. Electricity should be only about 25 bucks/month. Food for the spouse and I is about 60 bucks/week(not including all the other needs for the house.) Sounds good doesn't it? But, when you first start out there is always other costs and that is another story.

For my part, if there is someone who wishes to come to visit the Los Santos province including Los Tablas and you decide you would like to live here I can be contacted and advised to keep my eyes open for places to rent. I will pass the opportunities on to someone who truly wishes to live in this area. The best way to find a place to live is word of mouth or to just to be in the right place at the right time. Stay alert-stay alive. I am sure that Mr Woohoo would be glad to do the same thing.

There are definitely cheaper countries out there, mostly in Southeast Asia. That being said, there are many small places to rent here in Boquete for less than $300 per month.

Very true, but in most cases they are not being handled by agents.

Originally Posted by Boquete Real Estate

There are definitely cheaper countries out there, mostly in Southeast Asia. That being said, there are many small places to rent here in Boquete for less than $300 per month.

There are always cheaper places to live but I the Panama interior, everything considered, is a pretty good place to be. I will say I do really enjoy the Chiriqui province and have seen some really good deals on rent. There is a lot to see in do in Chiriqui and surrounding areas.

Originally Posted by GHamner

I live close to the Los Tablos area. Thanx to everyone who has taken the time to answer this thread. To Mr woohoo, thanx for the offer to meet me. Where is the hang out place in Los Tablos for US expats? I know of a bar that is close to the bus terminal that is supposedly owned by Americans.

The place by the terminal is the place that many of the expats frequent and is owned by Mike. Stop in, say hello, tell him MrWooHoo sent you. Getting to know the expat community is very helpful. This is a great way to get an insight into what you have to look forward to. Anybody can live in Panama City without giving up to much, heck, you don't even need to really know Spanish. The interior is an entirely different ball game.