Will We All Be Retiring to Panama?

I've been hearing a lot lately about the wave of Americans retiring to Panama. In fact, there was a piece last night on some news show that got me thinking - will we all be retiring to Panama? I have to tell you, it sounds enticing. According to Panamainfo.com, Panama is one of the safest countries in the world and has long had a large American presence.

You can live there at a fraction of the cost of living here in the U.S. The currency is the U.S. dollar, and Panama has the best retiree incentive program in the world - discounts on everything. It also has a great and affordable health care system, which makes it very attractive to retirees.

And if that isn't enough to pique your interest, Panama makes it easy for retirees to move there. Retirement visa requirements are minimal. You only have to demonstrate that you're bringing in $500 a month for yourself and an additional $100 a month for each dependent.

Americans can buy property in Panama and have the same rights as native born Panamanians. Travel back and forth is convenient, with flights to Panama from seven major U.S. cities, all within a travel window of three to five hours.

Finally, it's just a beautiful country with lush mountains and white, sandy beaches. It's the new Florida. And it looks like the wave of the future. Sign me up!