Cost of Living in Panama: A Retiree's Financial Guide

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Typical Monthly Expenses for Retirees

• Rent (1-2 bedroom apartment):

  • City Center: $800 - $1,500

  • Coastal/Suburban Areas: $500 - $1,000

Utilities and Basic Expenses

• Electricity: $50 - $150

• Water: $20 - $40

• Internet: $30 - $50

• Mobile Phone: $10 - $25

• Streaming/Cable: $25 - $50

Healthcare Costs

• Health Insurance: $100 - $250 per month

• Doctor Visit: $20 - $50

• Prescription Medications: 40-70% less than U.S. prices

Dining and Groceries

• Grocery Monthly Budget: $300 - $500

• Dining Out:

  • Local Restaurant Meal: $5 - $10

  • Mid-range Restaurant: $15 - $25

  • Fine Dining: $40 - $60

Transportation

• Public Transportation: $0.25 - $1.50 per trip

• Taxi/Uber: $3 - $10 per ride

• Monthly Transportation Pass: $20 - $40

Pensionado Visa Discounts

Retirees with a Pensionado Visa enjoy significant savings:

• 25% off utility bills

• 20% off medical consultations

• 50% off entertainment

• 30% off transportation

• 25% off restaurant meals

Estimated Total Monthly Budget

• Modest Lifestyle: $1,200 - $1,800

• Comfortable Lifestyle: $1,800 - $2,500

• Luxury Lifestyle: $2,500 - $3,500

Cost Comparison: Panama vs. U.S.

• Overall cost of living is 50-70% lower than most U.S. metropolitan areas

• Same quality of life at a fraction of the cost

Important Considerations

• Prices vary by location (Panama City vs. coastal towns)

• Individual lifestyle and spending habits impact total costs

• Currency is U.S. dollar, eliminating exchange rate complexities

Disclaimer

Costs are approximate and subject to change. Individual experiences may vary.