Thread: Newbe to Panama

Interested in learning some basic info about Panama. Plan to retire in 2 to 5 years. Have traveled quite a bit in Colombia and been in Peru. I have heard about all the good retirment percs and want to learn more. How is the climate in the mountains?

Highlands the temp is great year round, absolutely no need for heating or AC in my book. Rainy season can get a little wet.

El Valle is gorgeous. It can get a little cool at night, but it's a nice break from the oppressive heat in the capital.

Cool isnt a problem for me. I am living in PA and there is 6" snow on the ground.. I liked the climate in Bogota but it would be nice to be within driving distance from the coast. I like to scuba and wouldnt mind geting a part time job at a scuba shop after I retire.

It is cheap enough here and I might suggest starting a scuba shop? I have been kicking around the idea of renting surf kayaks?

Originally Posted by MRWOOHOO

It is cheap enough here and I might suggest starting a scuba shop? I have been kicking around the idea of renting surf kayaks?

It wouldnt be hard to talk me into that. I am 53 and plan to retire within a couple years. I am worried I will be board if I dont have something to do.
My attraction to Panama is that I can live in the highlands (mid 70s to low 80s) and be driving distance from the coast.
I love Colombia and the climate in Bogota is nice, but there are no mountains along the Pacific coast. It is very hot and humid, as I have heard about Panama. But if I can find a comfortable climate at some elevation that is within an hour of the pacific I think I would be ready to move there.
In May my wife and myself are going back to Colombia to visit her parents. I hope later this year to get to Panama.

I will say generally there is better scuba on the Carib side verses the Pacific due to clarity of the water. Problem is I am unaware of good highland locations within an hour of the Carib side? You would need to come down and take a look.

Originally Posted by MRWOOHOO

I will say generally there is better scuba on the Carib side verses the Pacific due to clarity of the water. Problem is I am unaware of good highland locations within an hour of the Carib side? You would need to come down and take a look.

I knew in general the pacific isn't as clear, but the Caribbean doesn't have the big stuff I like to view. Whale sharks, Manta and Hammerheads. The pacific does clear up to good visibility but the time to view the large animals is when the plankton is growing. 2 years ago I was in Costa Rica for 10 days on the pacific, and now I am hooked.
I guess I need to get to the economics of living in the highlands of Panama. If I don't want to wait for full retainment my pension will take a pretty good hit. In 2 years I will only be getting about $1500 a month. When I hit 59.5 I will have a small amount available to me from a 401K and 62 I hopefully will have SS. Of course I would get a lot more from my pension if I wait till I am closer to 62 so I need to know how much I need to live in Panama. I know from Colombia (which is very reasonable) that a vacation doesn't give you a good idea of the cost of living in a place.
What would a small 2 BR finca cost. Maybe even a fixer upper? What does renting a similar place cost? I would like a little land but it isn't a requirement if it means waiting another 5 years to retire. What would be a normal months living expenses? electric, Internet, TV, food exc. I am guessing this topic has been discussed numerous times. Even if you can dirrect me to a thread that has info on living expences.

Hey Scumbuster, if you are living out in the interior things get cheap. I personally rent a house 3bed/1bath in a decent safe neighborhood (typical Panamanian) for $200 per month. Beers at the local bar are 50 cents and I can get a meal for a couple of bucks. I have learned to live like a local and including cable tv, and internet, electricity, I am at about $800-$900 per month living expenses, TOTAL! At this point I would rent if I were you and don't worry about rushing into purchase anything until you are completely comfortable with the neighborhood.