The cost of living in Panama is 50% lower for this American expat!
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- Опубликовано: 21 авг 2024
- Beverly joined us on a Panama Relocation Tour in 2017. Almost a year ago she moved from Albuquerqe, New Mexico to Boquete, Panama. The result? She estimates she reduced her cost of living by at least 50%. Her rent for a 1 bedroom fully furnished house, including utilities is $450 a month! In this video she describes her life in Panama and shares some tips for anyone who is considering making the move.
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As a current teacher, I’m up at 5:00 a.m. watching this while I drink my ☕️ coffee. I am seriously considering retiring to Panama in 3-4 years. If I could afford to retire, I would do it now!
If you're considering on retiring to Panama you may very well already afford to retire. If you could like for that much less you don't really have to wait until you are at the "best" retirement age. You may as well live more of your life while you can and are healthy and able-bodied than fritter away your youth by working it. If your pension is more that $1,000 you can definitely afford retiring in Panama. Anything over that is gravy train. All the best!
I loved the part when you said you don't listen to any American news any longer! This is what I need to do. It is all just too upsetting. I can tell how calm you are ! Russ
So good to know there are single women moving to Panama. Good to know. I have some acquaintances who live outside Boquete, a young couple. They live up higher in the hills adjacent from a beautiful of the Volcano. Sunsets they shared on their VLOG were incredible. I am living on Social Security and retirement as a social worker/therapist. Not a lot, but think it would be much easier to live there than in the US on that income. The US is driving me nuts; with all the insanity around the current Pandemic. I want out. Good to hear your story. I hope you will write more. I think we have some things in common. Thanks for sharing your story.
I can't wait until you can make the great escape from that crazy place. And what a crazy place it has become. Each day more and more crazy. Each time you get used to one level of craziness it just gets crazier. lol This lady is living the life. And she's staying healthy and how much you wanna bet her blood pressure is going down and she's probably regaining her life back, worry free.
I'm so proud of the Panamanian people who are using their resources properly to benefit the Panamanian people. L💕ve.
She seems to have a similar personality to mine. Thus, it's good to hear her take on what panama is like; especially for me in particular.
Sounds pretty great. I lived in Ecuador for a couple of years and teach Spanish. Spent a week in Panama and was really impressed.
Thank you for the video , I’m from California originally and moved to Springfield area in Missouri . The people here are so nice but the tornadoes have me on pins and needles . I’m presently remodeling my 11 1/2 acre homestead property and 4 br cabin to put it on the market . Thought about moving to Oregon, Arizona, Nevada, but being a retired old surfer and diver , Panama has been calling me lol . Been watching videos from Panama areas and plan on booking a tour . I’m planning on renting for a year to get the feel where to buy later . I’m presently down sizing my stuff that I can buy there .
The 10:30 mark is why im on here watching videos like this! LOVE IT!!
Thank you, you made it all clear with your talk. The quiet life is for me.
Come see how you can LIVE BETTER for LESS in Panama!
My husband and I watch a RUclips couple that I believe live in Boquete. It looks so peaceful.
Boquete is very peaceful if you are not downtown
Beverly, it was good to hear your experience, thank you. My wife and I are from Albuquerque and are considering the tour too.
Merlin, you won't be disappointed taking a PanamaRelocationTours.com Check out all our reviews at panamarelocationtours.com/testimonials and on facebook.com/panamarelocationtours
I like your content. It is very Informative. It is cool to know what your occupation was in the states. The contrast from before Panama and now sounds terrific. Very nice video.
I was in Boquete in June 2020 - but it was too cold for me - in the evening only 18 degreed celsius- same temperature as in my hometown in Germany. The best degreed was 27 celsius at 2 pm. I had to go to David for Migration and there it was much warmer. And we visited several houses in Bocas del Toro -. where it was much warmer. So we bought a house in Bocas del Toro as we hate the cold climate in Germany and want to have warmer climate in Panama. I know many people who like it best when its colder - they have a good place in Boquete where its cooler than in David or Bocas del Toro.
hmm. Panama's borders and immigration were closed in June 2020 so I doubt that you came them. It's great that Panama has beach areas and mountain areas. There is something for everyone. If it's too hot or too cold in one area, just change your elevation.
sry, i meant 2021- this year
I’m from Albuquerque too 🙏
Thank you for this information...i have 3-4years to retirement. Praying about sooner, so I can make my move🙏
You can do it!
Would love to find casita. Been to visit this lovely town on 3 visits’, it a a charming town.need to make another visit.
My god no news,love it!
Sounds so nice.
Thank you for sharing your experience!
I lived in Panama as a child because my father was stationed there for three years. (There used to be American military bases there). I also lived there for another four years later on as an adult. I like Panama. I wouldn't mind living there again. There are two seasons: rainy and dry. The country uses the American dollar, which is referred to as a "Balboa." During my adult years in Panama, I traveled throughout Central and South America. It helps if you have a basic knowledge of ESPAÑOL. ¿Tu me entiendes?
Thank You! Great info, and appreciate your personal experiences. I was in David & Boquete in 2009. Would love to come back - Covid-19 is dampening my free spirit for now, but that's merely temporary...Be Blessed :)
Boquete has really grown since that time so have prices but I am sure if you not looking for something high end and just a small home or apt it can be found. One may have to live a few miles out but there is bus transport for so little. I better get my self moving and mad make up my mine because I have 2 loves central Mexico and Boquete. I will place my vote in nov. first. No matter what it looks like our future in US will become a challenge.
Thank you so much for sharing your experience. I'm from public ed. too.
She doesn't need to go all the way to David to save money on prescriptions. Farmacia Los Algarrobos, on the way to David, has excellent prices as well.
Does Panama Relocation Tours have any special programs or tours for single people?
I am considering a tour as a single. I believe they charge you extra for a single. Like 2400 instead of 2000 pp as a couple. Alain
@@alain0323 I was really hoping for a tour exclusively for singles.
Me too, I'm single and would like to retire with a significant other. And panama is on my radar. Tell me more about you?
We don't do any tours specifically for singles but we do have about 50% singles on every tour. The 7-night, 6-full day all-inclusive tour is $2400 for one person with a private room. This includes all hotels, all meals, VIP airport pick up, all ground transportation (in big comfy bus) plus a flight back to Panama City. If you can find a friend to come with you, you can get a discount - it's $2000 each for two people sharing a room.
Hello Alain0323 - you can learn more about Panama Relocation Tours at panamarelocationtours.com/tours Also check out all our testimonials from previous tour clients.
After many month under full lockdown in Panama City (1st was 7 months!! - 2nd was 2 month) I moved east, out of the Corona hotspots. Anyway. Last weekend I drove with friends to visit a couple in the area of Boquete. I have to say that Boquete was NOT cheap or affordable at all. Looking for a hotel for 2 nights starting at $850 for 2 rooms in Boquete, we decided to take a hotel in David for $240 including breakfast. It was the Hampton by Hilton what was very nice. Walking with friends through Boquete, we all rolled our eyes about prices in restaurants and stores. If someone says Panama is half the price of the USA, well it is not true. A gallon milk in the USA? Right. Under $3. In Panama the liter (1 liter!!) cost $1.50 or more. On top Panamanian milk has at least 13 grams of sugar in 250ml milk. A beer in a small restaurant to our lunch - domestic beer no imported beer - was $3.75! For a pasta (no meat!! ) and a fish plate plus 2 drinks (1 Balboa, 1 lemonade) = $50.23! Our friends had only a soup and each a beer = $28.80! If someone says Boquete is a nice place to live - explain by what means. Because if you can’t afford to go in a restaurant (no fancy one) there is something wrong when Panamanians only make $600 a month. On top - to many and I mean too many expats are already in this area. Harley-Davidson drivers disturbing the area with cruising through the streets with engines on high RPM! And yes! Expats! We were at this afternoon 3 couples. We who visited said right away that this was too much of all. The other couple has enough after 6 month of living in this area. Before anyone on a tight budget decides to move to Panama please consider to move away from Panama City and Boquete because this area is only for people who can throw away money. Or stay at your place without going out for dinner because you can’t afford it! I was before the pandemic in clubs around Panama City and had never ever to pay $4 for a beer. So it depends where you like to live. Don’t take commercial RUclips videos like this one for granted. But if you like to live with expats alone, having the same noise we experienced that weekend - be happy.
Her video is 2 years old. I wonder if prices have climbed since she made the video. Also, I read in a blog about expats purchasing property in Panama that there are "gringo" prices and then there are different prices for natural Panamanian citizens. Do you all speak fluent Spanish? I wonder if you could haggle prices?
@@FlowtnWitWalden It does not matter if you speak Spanish or not. If they figure out that you aren't Panamanian your prices will double, triple or more. Mathematics aren't something Panamanians can do. Example. I was looking into lots to buy and build my own small house. A Panamanian man, well known in the area said he likes $15 a square meter. 4 days later, he explained that he talked with some locals and they sell for $30 a square meter. He had 2 300 m2 lots and a 1,000 m2 lot. I don't need a big lot. So I said: OK I take one 300m2 lot for $9,000 plus transfer fees. He completely lost it. It's $50,000 for the 300 m2 lot. I looked at him, took my phone out and showed him that 300 times $30 is $9,000. He didn't believe it also he did see it on my phone. So be careful even buying something in a store. They use calculators for the most easiest calculations. I had to pay $112.50 at a driver school. I gave $115. 2 people tried to use a calculator to figure out if I am correct, asking $2.50 back. It took them awhile to get to the same result. Same in stores where you buy a bottle of water or fruits, fish and so on. Using head and brain - not in Panama. - Why did I had to go to the driver school? Sertracen who is responsible for everything driver license related in Panama couldn't figure out if the Province of Alberta is in Canada also that I had a letter from the embassy of Canada with a Apostille of the ministry of foreign affairs on it - saying that this is my drivers license! "The agreement between Panama and Canada says "CANADIAN" driver's licenses. I can't see Canada written on your license Sir....." I didn't started arguing that I just wasted $300 to get all paperwork together in a pandemic. I only said: How can we fix this problem easy for me... "If you would like to go to a driver school in town..." So if you look how Expats wasting money, believing in RUclips videos and don't get any further- it adds up expenses people do not calculate with. And Panamanians still do their job like there wasn't a pandemic and offices are still closed. Welcome to Panama - is a normal saying here when Expats explain that they were running against a wall again. - And yes. For the skyrocketing prices in Panama you can blame mostly Americans who don't use their brain too. If someone is asking $2,000 rent - people should walk away. But Americans don't do it. They just sold their property in the USA and think they get a bargain. Panamanians do not make that kind of money to pay for this kind of rent. Stupid Gringos do that. If in Boquete people would walk away - nobody could ask $25 for a pasta meal. I had no choice even I mentioned to our friends that I rather drive back to David and eat there. So we stayed for that afternoon. But you will not see me going back there at all!
@@holgermessner851 Awesome! I like a lengthy, well crafted response. What I don't like is bureaucracy. If that's what I wanted I'd move to Brasil; So you have certainly peaked my attention. Not yet sure if I'll be a permanent resident of Panama. Right now it's the least expensive "Plan B" available to a lower-middle class gringo looking to venture abroad from the States and see what the wider world has to offer. It may just become a vacation spot or more secure place to stash some cash if the States devolve into hyper-inflation. Thanks again for your insights.
@@FlowtnWitWalden You don’t like bureaucracy? Well. Panama is not the place for you. If a DOT isn’t on the right place in your documents - good luck with : Running against a wall. They will not move a finger for you. You don’t have the right signature under your formula because 5 years ago you signed your passport different, they will not move a finger until you sit down and sign so many times your name until it looks exactly like in your passport - fill out the form again and sign it correct. I did see that done from a American and a British Expat. No idea if this is a way of showing us “Gringos” who has the power / pants on - but that’s the rule here. Example. I bought a used car and the seller said: Please sign this document for the registry office. I signed like I do for many years. She came back and meant: What did you do? I have to do all over again. You missed your middle name when you signed!!! I learned from that, that they do like every dot or letter exactly or nothing goes at all. At Sertracen there were 3 people looking at the exact writing what the Canadian and Panamanian agreement said. They figured that I would need another letter from the Canadian embassy explaining why it showed Alberta on my drivers license. That’s when I thought before I was running against a wall again I switch the coin asking how I actually can get this done easier. Anyway. I did not get any hopes that they would accept a explanation of geography and Canadian laws. In the end, I am in Panama and live here. Tomorrow is my practice test.
@@holgermessner851 One thing that does frighten me is lockdowns. I watched a young couple homesteading up in the mountains and they mentioned a weekend lockdown with no travel! Really? Yeah, like I said, not sure about living there. Right now I'm in the process of grabbing a quick FN residence/visa before the law changes in August. Since I'm required to drop 5K into a Panamanian bank I'll just leave that there and hope the interest stays higher than the States. At least I'll have a place to visit without need for the U.S. passport or visa.
What are the monthly expenses for rent, etc.
Hate these videos without costs broken down
We posted cost of living info here: panamarelocationtours.com/living-in-panama#tab-con-24
Beverly is paying $450 a month for her furnished house including utilities.
@@PanamaRelocationTours That is excellent
Thank u
I believe that I have found my place to retirement is going to be
Beverly, what about your transportation needs to town, etc.?
There is a bus stop close to Beverly's rental. It runs ever 30 minutes and cost $1 to go in to town or back to her house.
Hi,Thankyou for your video,how much is the rent for la casita y in general how much are the rents in your area???
She pays $450 a month for a furnished rental with all utilities included
40 years working in education. Congrats on retirement and the next chapter of your life.
do you mind sharing what you pay in rent? Can one find a great apartment near the beach for very reasonable rent? Will be retiring on ss. Thanks.
she is paying $400 for a furnished 1 bedroom. the rent includes all utilities
NM is beautiful. Not sure about Alburquerque. I've got people down near Silver. Been there a couple times and always dreamed of moving there from the Northeast NYC metro area. Now I am looking into Panamanian Citizenship as a "plan B" second citizenship because I feel like the self-appointed elitist politicians in the USA have gone insane and will stop at nothing to force a globalist agenda on the Country, which has less to do with traditional "American" values. I'm not just talking about the current administration either. I've been watching the weird digressions of the political elite take hold since at least Bush II. But if you want to get down to brass tacks then I'd have to say since 1913 with the introduction of the Federal Reserve banking system and the IRS tax collection agency, things have taken a hard turn from traditional American values. Certainly Nixon divorcing our fiat currency from the gold standard could be cited as a stark turning point. But now the incessant money printing, talk of universal income, changing tax code to discourage individual wealth creation and preservation, it's turning into hell-soup here in the States and I wouldn't be surprised to see things go very sour in the next decade. I'm not wealthy enough to purchase a $100K CBI in the caribbean; So Panama as the least expensive option will be my starting point in my journey away from the impending hurricane.
Is Beverly a citizen of Panama? How can social security transfer to Panama?
She is a legal resident of Panama, not a citizen. You don't have to transfer social security to Panama. You can use US credit & debit cards in Panama. or you could wire money from a US bank account to your bank account in Panama, or you can have your SS check deposited into your Panama bank account. panamarelocationtours.com/wiring-money-in-to-and-out-of-panama-banks
@@PanamaRelocationTours Thank you. 🙂
Just how safe are the banks in Panama?
I need to take medical marijuana. Is this legal in Panama..or could it become legal in the near future?
No, it is not legal in Panama and I doubt that it will be for many many years. Other countries in Latin America have legalized marajuana
Check it out I believe it is legal in MX
😬✌
Hi - were her medical visits & prescriptions in Panama covered by her US insurance or did she pay out of pocket? Sorry I only heard it was reasonable.
Does Amazon delivery in Panama yet? If so which city’s?
Amazon does not deliver directly to Panama. Most of us don't have an address to deliver to. Instead, we rely on mail forwarding companies to get Amazon orders or other packages. This article explains more details. panamarelocationtours.com/getting-mail-in-panama