Special Report: Issue 8.1 February 2015
According to MSN, they know the Cheapest Places Where You’ll Want to Retire! We think there are a few things they don’t know!
Returning from Panama City on a day where we spent long hours at the US Embassy to get copies of our US driver’s licenses notarized for the Panamanian driver’s license authorities (this saves us from having to take the driver’s test in Spanish!!!)–interesting & not too pleasant, dealing with representatives of our home country, but I won’t get into that any further–we were tired & hungry, fighting dense traffic & trying to figure out what to do for dinner.
We decided to stop at a new “Rey” grocery store to get some inspiration for an evening meal at home. This particular store is one of the best we have seen in Panama so far and has a variety of foods from all over the world. Actually the selection is so goo that we could have covered meals for the next few weeks! We settled on some delicious looking prepared pork cutlets and a roast chicken, which Norma took to the checkout while I went outside to avoid any more of the air conditioning (I came here because it is warm!). After a while, she emerged from the store. I wondered what had taken so long, since there was no line.
Now, if you know Norma, you might know that when she asks the waiter for the check or when she goes through a grocery line, she already knows to the penny how much she will need to pay. This day, however, she got a surprise and a lot more change back than she had figured. In fact, she paid 25% less for the pork and chicken than the stickers showed. This was because of the famous “Pensionado discount” in action!
Once at home, I went to my computer to check messages and news. One of the leading MSN stories was on cheap places for retirement. This topic had my attention, especially after the unexpected experience we had just had at the grocery. The article stated, “choosing a retirement destination with low cost of living can really help to stretch a fixed income. But the place you select should offer more than just affordability. Safety, livability and economic stability are equally important qualities to retirees.”
I couldn’t get fast enough to the place where the suggested locations were listed, expecting to see Panama in first place! Either MSN wanted to concentrate strictly on US locations, or they have not heard about retirement heavens like Panama: Grand Junction, CO; Pittfield, MA; Prescott, AZ are the leaders.
With an average Social Security income of $1,500 per month, most people spend all their Social Security income just for housing! Healthcare is one of the most expensive in the world.
WHY NOT PANAMA?
I feel compelled to draw every senior’s attention to Panama for retirement! Without going into details…one of the next regular newsletters will deal with this…Panama is one of the most retiree-friendly countries in the world. Believe me, despite the fact that I spent 20 years in Colorado, I do know the world not just from the media. I have visited and lived in many different parts of the world!
- Healthcare in Panama is just a fraction of what you pay in the US.
- Housing in a country with wonderful warm climate is very affordable.
- Public transportation is extensive and inexpensive!
- A special program for retirees gives you, among other things, discounts on various goods and services. These discounts range between 10 and 50%. These are honest discounts and not “added on first before offered.”
- The economy in Panama has been growing between 5 and 10% for the past 5 years.
- Unemployment is below 5%
- The poverty rate in Panama is going down each year.
- US retirees in Panama can have their Social Security check deposited directly into their bank account in Panama.
Sound too good to be true? It’s not!
Watch for a more in-depth look at various aspects of retirement in Panama in our next newsletter.
MANGO, GOING, GOING…
The Mango Farm was our best investment in 2014. That being said, nothing lasts forever. Because of the tremendous response to this amazing investment, only a very few ownership opportunities remain for the Mango Farm. There is still a chance to purchase part of this farm, but that window of opportunity is beginning to close. With an average return of at least 12%, if you feel that you would like to secure your place in line, contact us TODAY.
Frank & Norma Backe