Good bye friends,
Thank you for answering my many questions. I may come to have and extended vacation in Panama, but as for residency, nothing racks up in my favour. Healthcare is a big issue - the cost of the monthly payments are bordering on very punitive, and quiet frankly ridiculous. Cost of living, included utility bills makes Panama on a par with the UK. Panama is not cheap in terms of living day to day. So, think I'll stay in rainy and cold England.
Take care my friends,
David.
Replies
I’m sure you’ll gain useful first hand knowledge on Panama/Boquete when you visit. A question for anyone in Medellin or promoting it; has all that Escobar created been completely squashed and there are no remnants of the cartel today?
If staying in Europe is of interest to you have you taken a look at Portugal? A UK friend of mine who spent most of his life living and working in Brazil recently chose to spend 50% of his time in Portugal and I have heard nothing but good things from him.
Europe does not appeal to me 100%. However, I'm contemplating spending 6 months in Panama, but having my main domicile here in the UK. It's just the expense of keeping my UK house running that's a little prohibited, with of course, having to pay rent in Panama.
I could rent out my house for the 6 months, but would most likely have to put my furniture in storage (expensive). Renting out furnished is not really that common on this side of the pond (especially in the area where I live).
I have a young friend that I'm thinking of asking to kind of house sit, paying around £370 ($479) including bills per month - which is peanuts! It would be a great deal for her in every sense, and leave me with a reasonable sum to get by in Panama.
Maybe Spain would be a better choice? Just a quick plane ride from England, and warmer weather, and I am sure you would find many Brits there. Coming from England, where there is the NHS, you will find that medical costs are high, whereas most people coming from the States find them OK. A trip to a local doctor is $12, so very cheap, but surgery can add up. I'm not sure about medical in Spain, what with the Brexit plan. You would enjoy a vacation here though, I am sure.
Hi Maureen,
Think Spain is okay. Medical care in Spain should not be a problem for now with the Brexit thing, as I'll have probably passed away by the time we actually leave! I suppose my main concerns are:
1. My UK State Pension would be 'frozen' if I came to life in Panama - no cost of living rises; no more increases.
2. As you mentioned, no charges for medical care here as there is the NHS. I have had some jaw dropping quotes for healthcare in Panama! I'm 67 and in good health, but it wont always be that way.
However, let's give Panama the praise it deserves, as there are many things that cost less, much less in some cases. No need, in most cases for heating; you could spend a lot on keeping warm over here! I'm quiet lucky as I have a super insulated home - it costs me £47 ($60) per month for gas and electricity. I think I need to do some more research to see if I can make the numbers work for Panama.
I could rent my house out here for around $700 per month, that would make a huge difference. 'Where there's a will, there's a way'.
If Nicaragua calms down that’s an extremely affordable place too. I really liked my visit there.
Hi David, don't throw in the towel completely, why don't you check out Colombia? Medellin is really nice and a much lower cost of living, including a very good medical service. I know of a few people that have left here to live there. I suggest Medellin as opposed to Bogota because its quite a frantic place.
Anyway, good luck with whatever you decide to do,
Best regards,
Cathy Joy.
Thank you Catherine. Nice to have your input.
Check other places in Panama. Boquete is popular and that has pushed prices up. It’s not a place I’d consider aside from a vacation. I look at things from a Canadian $ perspective and I am Brit and Panama seems affordable for me. I just wouldn't consider $200k homes etc as that's what houses in Canada cost in some places. Have a look at El Valle near Panama City. It’s very pleasant, similar climate to Boquete, less expats and hence a little more affordable.
Thanks, John. Food for thought.
Looks like you did your research with a level head. Unfortunately the economical overseas retirement retreats are getting fewer and fewer with those promoting them often just looking to make a quick buck. Familiarity has its benefits and in retirement vacations no longer need to be a one or two week sabbatical then rush back to work, you now have the freedom of time.
Good luck.
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