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.
Blair Christink on December 11th, 2009 at 8:32 am
Dear Sir/Madam
I am a Canadian trained Doctor of Chiropractic with additional sports injury and clinical nutrition training.
I have lived in developing countries for the past twenty five years (ie the Middle East and Africa) and am now 5 years, or so, away from retirement. On another website, I note that there are 4 chiropractors that are actively practicing in Panama.
Please advise as to what procedures may have to be taken to establish a practice – preferably in the Boquete or David areas.
Kind Regards
Dr Blair Christink