Retiring outside America: For many, it's a dream come true

[Herman Munster]

http://seattletimes.nwsource.com/html/businesstechnology/2003948199_overseas14.html

Then they discovered Panama. The Strocieks were overwhelmed by the breathtaking sights.

"It's one of the few places I can see the curvature of the Earth," Mary Strociek said of the view from her property, which she says looks out on nearly 300 miles of coastline.

Won over, the Strocieks sold their Chicago home and built a house near the mountain town of El Valle, where they now live, she explained in a phone interview from her pool.

Two years ago, it cost the couple about $150,000 to buy their land and build a house, pool and bohio — a type of tropical gazebo. They live debt-free and enjoy the perk of a newly built Panamanian abode: no property tax for 20 years.

The Strocieks are among many Americans who have retired to Panama.

[Swamp Rat]

1. I may eventually go back to Costa Rica

I lived there years ago, and really loved it. Brazil is another country where I lived that I really love. One can buy a nice apartment there for $20,000+. Double that and you'll get an ocean view. While electronic things are very expensive, food is incredibly cheap.

[physioex]

3. Well....

Just wait the till the bottom falls out of the dollar your money will be worthless....

[Swamp Rat]

4. I have no money to lose.

I plan to go there by any means necessary. I spent the last two decades making friends and family in those and other countries, and collecting graduate degrees so I can find work no matter what. ;)

[SparkyMac]

15. That's what I would most fear

In the 1960s and 70s an American could take his Social Security check to Europe and live in great style. Nowadays he would have to stand in a bread line.

I'm beginning to think that all the Mexicans who come here are not really looking for work so much as they are looking for a cheaper place to live on their pesos :-)

[cherokeeprogressive]

2. Two Sides to Every Coin

I've retired to the mountains outside of Los Angeles. 6750 feet above sea level. No smog. Population 6200. The money I was priveleged to earn will stay in the community I earned it in, since I was born and raised in Southern California. I have a view of one of the most beautiful lakes in California. It's called Big Bear Lake. I live two minutes from its biggest marina.

I feel nothing but happiness for the happiness of the Strocieks.

My family lives less than a hundred miles from me, and they visit nearly every weekend, as do my friends; people I've known all my life.

I guess there are trade-offs, huh?

[ourbluenation]

5. the closeness to family is a big factor in me not doing the same...by the way

Mr. Ourblue and I honeymooned in your neck of the woods 20 years ago. Lake Arrowhead, actually. For obvious reasons, we have some very fond memories of the place. :)

[ShortnFiery]

6. Yeah, it's not the panacea that the post portrays. Specifically, Atlantic

side of the Panamanian Isthmus has 75% unemployment.

I lived there for two years in the 90s.

There's a clear line of distinction between the rich and the abject poor.

Don't get caught in the wrong neighborhoods/areas. :scared:

[usaftmo]

7. I agree; I lived there from 95-97 and

from what my ex-wife tells me things have gotten a lot worse since the U.S. military pulled out in the late 90's. The post office system is so corrupt that any package larger than a tissue box will not make it to the destination address...the employees don't hesitate to pilfer through the packages.

Their official currency is the U.S. Dollar, so in a way the weakening dollar doesn't seem to be a problem in Panama.

I really want to go back there for vacation, but I don't see myself living there. There's a strong anti-American sentiment among the poor (which is a large majority of the population).

When I retire from the military in 4 years I want to live overseas, but at this time Panama isn't being seriously considered.

[ShortnFiery]

9. That's good. I served as an addiction counselor ...

to a batallion of Infantry troops on the Atlantic Side of the isthmus. Oh, the stories I could tell you. :crazy: :blush:

I don't blame the poor for resenting "the rich" who live it up in a big way while those who live from "hand to mouth" just barely eke by. It's tragic to watch.

However, I loved the people and the culture. If you want to see a glaring exampe of "The Haves" versus "The Have Nots" drive from Panama City to Colon. :(

No, I think we'll join the rest of our family in New Orleans, LA area when it's time to fully retire.

[Monk06]

8. Panamanian real estate is approaching world prices rapidly.

Inflation is running about 5.4% and the average
income of a civil servent is $500.00 per month.

The poor are squeezed even worse as wealthy
land owners cash in on the boom now that
the US housing market has crashed.

It would be naive to think that the Panamanian
poor and working classes are very fond of northern
gringos buying up land and building swimming pools.

Panama has only been free of US military domination
for the last fifteen years and they are not keen
on seeing Panama turned into Cuba circa 1958.

[ShortnFiery]

10. And the poor in Panama are about to say "no mas" (no more)

I wouldn't advise my worst enemy to live in Panama albeit it is a beautiful country. The poor are being squeezed so tight - IMO, it's about to "blow up" in a very troubling way.

[Monk06]

11. I can't disagree with that. Look for Blackwater setting up office in Panama City. *Tinfoil*

[girl gone mad]

12. This is rapidly becoming a problem around the globe.

In many of those quaint and picturesque locales that retiring boomers have discovered, cost of living is quickly increasing for the natives. Not only that, the boomers are taking their wasteful American consumerist attitudes with them. I'm afraid that in 20 years, these places will have lost whatever charm they now have. I've witnessed the Starbucksification of some formerly lovely resort towns, and it isn't pretty.

[Monk06]

14. Look at the Florida keys where the islands have been carved up into

subdivisions for boat owners. Instead of streets
they have canals. The quaint gulf seaside haunts
are gone.

There are no commercial or entertainment hubs just
water filled driveways for rich people. Even they
rent their canal front condos out for most of the
year and make a fortune during the ten months of
the year they're not there.

I wouldn't go to Key West or Largo if I was paid.
Not even to see Jimmy Buffet looking for his lost
shaker of salt.

[B Calm]

13. We just had a new grandaughter born a week ago. No thanks, we'll

stay here and watch her grow..