In the News from Panama

What it’s Like to Retire in Panama

We get questions all the time about what it’s like to retire in Panama. The country’s beauty, a dollar-based economy, and the wealth of retirement benefits have made Panama one of the top retirement destinations in the region.

In a recent article, one Florida couple shared their experiences about what it was like to retire in David, even though they didn’t speak Spanish. Joel and Kris Cunningham say they are “living very comfortably” on $1,200 a month.

“We are super happy here,” the 69-year-old Kris Cunningham told the reporter. “It’s worked out beyond my wildest expectations.”

The Cunninghams provide a nice case study on retiring in Panama. It’s a story we hear all the time, but it never gets old.

The couple has been living in Panama for nine years. They learned Spanish and adapted well to their new life. They chose David for the mix of local flavor and the opportunity to live as part of the community. “It just feels so free here, so relaxed, so not alone,” she says.

They don’t live frivolously and limit their expenses, but they are also taking advantage of Panama’s famously low cost of living. Their favorite restaurant is about $10 a person; a visit to the doctor is $40; car insurance is $300 a year.

“We’re not living poorly here, We’re living very comfortably,” Cunningham said.

They also take advantage of Panama’s famed retirement visa, which includes discounts on flights and services.

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