"Retirement Favourites of Kathleen Peddicord"

Panama caters for foreign retirees like no other country in the world right now

“Cheapest, safest, friendliest…best weather, best infrastructure, best healthcare…most tax-advantaged and most foreign-resident-friendly?

How about most romantic, beautiful, exotic, historic and adventure-filled?

The best, the most comfortable, the most affordable, the most convenient, and the most rewarding spots worldwide for retirement in 2013?

The winners (( Favorites of Kathleen Peddicord*)) are…

#1: Coronado, Panama

Monthly budget: $1,800
Monthly rent: $600

Panama caters for foreign retirees like no other country in the world right now. Day-to-day living here is affordable, the approach to taxation is favorable (depending on your circumstances, it’s possible to live and run a business here tax-free as a foreign resident), property prices remain reasonable, even a bargain outside the capital city, and the country boasts perhaps the world’s most generous incentive program for retirees. It uses the U.S. dollar as its currency, meaning no exchange-rate risk for retirees whose retirement income is also denominated in greenbacks.

Further, Panama is an international banking center and the best place in the world to start and run an international business. As the gateway to the Americas, Panama’s geographic position makes it an important hub for both commerce and travel. This is part of the reason why, while other Latin American countries depend heavily on the U.S. economy, this is not the case with Panama. The country stands on its own legs, has a solid economy, and thrives as a major center for foreign business and investment, attracting investors from the region (especially Venezuela and Colombia) and around the world.

Panama City is unique in Central America, the only legitimate city in the region, being remade in real time right now thanks to myriad public works projects, including the expansion of the Panama Canal. Panama also offers some of the most advanced medical care facilities in the region, with many Panamanian doctors U.S.-trained. The more remote your location, the farther you’ll be from the best facilities, but Panama City’s hospitals are first-rate.

My top recommendation for retirement in Panama in 2013 is Coronado, a beach community on the country’s Pacific coast about an hour outside the capital. Life here could be comfortable, convenient, and turn-key, as this area is home to one of this country’s most established communities of foreign retirees.

Panama in General- Grandpa’s Comment-

Always consider the source!

The article praising PANAMA as a whole was written/inspired by Katherine Peddicord who, with her husband Leaf,  is profiting from her properties, seminars & immigration services there in Panama. Thus, you would expect her to accentuate the positive & not elaborate on the negatives. We liked Panama but it gets nowhere near as good a score in my book as say some of our choices in the French Riviera, Thailand, New Zealand, Australia or Switzerland. In Panama, you’ll find (outside of selected upscale communities) Garbage strewn all over the place. Garbage is uncollected — as in Naples.

Panamanians are SLOBS.

The rich Panamanians & politicians I would characterize as “Arrogant & Ignorant”….

Lousy infrastructure; streets have huge potholes and 99% of metal sewer covers are missing (stolen)… It’s easy to fall or drive into a black hole.

As a whole, the country is —>Unsanitary. Majority of population is unemployed, 90% uneducated Blacks living in poverty…

Leave your house alone a week & you will return to find it burglarized-completely gutted & looted…

It will be empty of all contents including doors, windows & plumbing fixtures. in other words, Panama, in general, is very unsafe. Your car will be stolen a few times a year. You will be robbed or mugged. Violent crimes have been reduced, but you will have to be aware of and stay out of the bad neighborhoods which are 95% of Panama.

Rich or middle-class people must live in well guarded gated communities like Paitilla(Rich hi rise enclave) in Panama City, El Valle (Hill Town) or Coronado (Beach Town) . Period! Panama itself is nearly bankrupt; govt employees are 100% corrupt. Bankers are completely incompetent, undependable, don’t usually speak English and will lose or misplace everything.

Noise & other pollution is a problem in the CITY with the Panamanians blasting their kid music out and noisy cars, Most motorcycles, busses are, without exhaust mufflers…

Panama has its good points–like great climate & great coffee. We lived in a well guarded mostly JEWISH high rise enclave in Panama City called Punta Pacifica/ Punta Paitia. It was quiet, had good sea views, and is within walking distance of downtown Panama City it has a great shopping mall, a Johns Hopkins Hospital, and was perfect.

There are other spots in Panama that are great. viz:
Rich or middle-class people must live in well guarded gated communities like Paitilla(Rich hi rise enclave) in Panama City, El Valleor Boquete (Hill Towns) or Coronado (Beach Town). Period!

Climate is miserable, isn’t it? NO!!!! For me, the best part was that it was warm and sunny most days. Sea breezes make it like a cool summer day or night in Monaco and tap water was good and clean.

For more information on Panama, see Grandpa’s report PANAMA CONFIDENTIAL

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