If you’ve done any retirement planning lately, the savings needed to fund retirement in the United States seems totally unreachable for many people.
As retirees consider their options, Panama looks good due to a low cost of living and favorable treatment of income earned outside the country.
A few thousand per month earned from a website based outside the country and serving the U.S. market would go a long way towards financing life in Panama.
From the New York Times…
With low housing and living costs, a stable political environment, relatively safe streets and that tropical climate, people in their 50’s and early 60’s are flocking to the Central American nation, rather than working for a few more years to scrape together enough money for a condo on the Florida coast.
Panama collects no income taxes on money earned outside the country, … so American retirees living on Social Security checks don’t lose a chunk of those earnings.
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