News

After evaluating their options, more and more Americans are deciding to take advantage of the opportunities to retire outside the United States.

About 400,000 U.S. retirees are living outside the country, according to recent Social Security Administration data. That is an increase of 17 percent since 2010, as senior citizens conclude they can find a better quality of life in countries like Panama.

Not long ago, it would have been considered radical or an “adventure” to retire overseas. But more Americans are traveling and growing to love different places, and the infrastructure to cater to their needs has improved dramatically.

Panama is routinely ranked among the top retirement destinations in the world, thanks to its pensionado program, welcoming environment and thriving expat community. Americans can feel at home in Panama, with all the services they would expect from home, while experiencing a new culture. Far from sacrificing, retirees in Punta Pacifica, our home neighborhood, have access to world class health care, brand name shopping and great restaurants. There is also a sense of security here, especially with the close economic and cultural ties to the U.S.

Retirees typically cite the cost of living as the main reason for moving elsewhere, according to a recent article by the Associated Press. “I think that many people retire when they are in good health and they are interested in stretching their dollars and seeing the world,” Olivia S. Mitchell, director of the Pension Research Council at the University of Pennsylvania’s Wharton School, told the publication.

The most popular countries for retiring are Canada, Japan, Mexico, Germany and the United Kingdom, according to the Social Security data.