Panamainfo’s Blog

Panama is one 5 Places to Retire On Social Security Alone: US News and World Report Blog- Not Quite

Below is an excerpt from this article. However, in my opinion in Panama  you need a Social Security check of at least $2000.00 to live “comfortably”.  This does not include rent or  mortgage. To live on this amount you would also to buy a home or condo as well.

US News and World Report Blog Post

One of the most compelling reasons to consider retiring to another country is the opportunity to reduce your cost of living, maybe dramatically.

As one American I know who retired to Boquete, Panama put it recently, “Back in Tucson, Arizona, where I’m from, my monthly Social Security check might cover the cost of my utilities. Here in Boquete, my income from Social Security is enough to buy me a very comfortable new life.

The average Social Security check is about $1,200. You can receive that payment while living anywhere in the world. In some countries, you can even have your Social Security check direct-deposited into your local bank account. Here are five places where you could retire on your Social Security income alone.

Boquete, Panama. Panama offers super user-friendly options for foreign residency. Resident retirees receive a long list of benefits including discounts on everything from prescription medicines and in-country air travel to closing costs on the purchase of real estate.

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