{"id":31976,"date":"2021-09-15T08:39:34","date_gmt":"2021-09-15T13:39:34","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=31976"},"modified":"2021-09-15T08:39:34","modified_gmt":"2021-09-15T13:39:34","slug":"americas-ugliness-divisiveness-pushed-couple-retire-abroad","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/americas-ugliness-divisiveness-pushed-couple-retire-abroad\/","title":{"rendered":"America\u2019s \u2018ugliness and divisiveness\u2019 pushed this couple to retire abroad"},"content":{"rendered":"<p><a href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2021\/09\/twisted-tower-best.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-31977\" src=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2021\/09\/twisted-tower-best.png\" alt=\"\" width=\"720\" height=\"900\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2021\/09\/twisted-tower-best.png 720w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2021\/09\/twisted-tower-best-240x300.png 240w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>This is what I saw coming 15 years ago when I left the US.<\/p>\n<p>he United States has always been divided, but in recent years this has been accompanied by a nasty, off the charts intolerance that each side seems to have for the other. Some Americans who can afford to do so are getting out.<\/p>\n<p>Which is why Cheryl Smelson (a retired journalist) and her husband David (a sales manager who will work remotely) are kicking up their heels in Panama, where they moved on Sept. 1.<\/p>\n<div class=\"paywall\">\n<p>Cheryl, a former member of the White House press corps (we often sat together in the briefing room) tells me \u201cthe ugliness and divisiveness among the American people is a danger to democracy. We felt leaving the U.S. for a more peaceful environment was in our best interests.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/images.mktw.net\/im-398483\/horizontal?width=700&amp;height=393\" width=\"704\" height=\"396\" \/><\/p>\n<p>Chery<\/p>\n<p><strong>Why Panama?\u00a0<\/strong><\/p>\n<p>Panama, described on one retirement site as\u00a0<a class=\"icon none\" href=\"https:\/\/www.bestplacesretire.com\/panama\/%20.\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">\u201cone of the top retirement destinations in the world,\u201d<\/a>\u00a0boasting an \u201caffordable cost of living and high standard of living,\u201d quickly attracted their attention. \u201cWe wanted to live reasonably close to Maryland, where our son is attending college,\u201d Cheryl says. \u201cThat pretty much ruled out Europe and Asia. We prefer warmer climates over colder, so that narrowed the field to Central America. We had vacationed in Costa Rica a few years ago, but our research led us to Panama (which borders Costa Rica) as the better choice for us. There is a large community of expat Americans active on social media who gave us lots of information about life on the ground.\u201d<\/p>\n<p>The quality of life for expats is good. \u201cPanama currently has a lower Covid rate than the U.S.; a low crime rate; per capita income is high compared with other Latin American countries; and the government is stable,\u201d Cheryl says. Panama also uses American currency, so there\u2019s no need to change money or figure out what things cost.<\/p>\n<p><strong>Housing costs<\/strong><\/p>\n<p>In the capital of Panama City, dotted with skyscrapers, high-end shopping and abundant nightlife, a couple can live quite comfortably on $1,500 to $2,000 a month. If you and your spouse had nothing but the average-size Social Security check ($1,543 in 2021), you could do pretty well. The Smelsons can afford to spend more\u2014$2,500 to rent a luxury apartment with gorgeous views\u2014but you could get by on less.<\/p>\n<p>Compared with most major American cities, those costs seem reasonable.<\/p>\n<p>But Panama City is also blazing hot and dripping in humidity, and can have American-style traffic jams. Some retirees opt for nearby beach towns like Coronado, which are buffeted by cool breezes and quiet.<\/p>\n<p>The Smelsons, who are renting on a short-term basis while they house hunt, are drawn to nearby mountain towns which are much cooler. Two are Santa Fe and Boquete, which can have California-like weather, but rents that can average\u2014get this\u2014about $500 per month. Boquete has tons of expats, many of them baby boomer retirees lured there by the cooler temperatures and low cost of living. Cheryl advises, however that<\/p>\n<p>\u201cYour average American likely will experience higher [than $500]\u00a0costs because they\u2019ll have higher standards (like hot-water in every faucet, reliable electricity, shop in more expensive grocery stores),\u201d Cheryl advises.<\/p>\n<p><strong>Healthcare<\/strong><\/p>\n<p>U.S. healthcare is very good\u2014if you can afford it. Fidelity, the Boston-based investment giant, estimates that the average American couple retiring at age 65 will need to spend a whopping $300,000 to cover healthcare expenses over the remainder of their lives.\u00a0Panama offers socialized medicine to all for basic care, and according to the Smelsons, who cite comments made by other expats, \u201cdoctors in Panama are highly qualified, accessible, and costs are exponentially lower than in the U.S.\u201d<\/p>\n<p>But expats are still encouraged to have their own health insurance for comprehensive care.<\/p>\n<p><strong>Planning and preparation<\/strong><\/p>\n<p>Moving abroad is obviously a big deal and involves a lot of \u201cplanning, planning, and more planning,\u201d says Cheryl. \u201cGet advice from the people who have been there before you, but really understand your own circumstances. The definition of \u2018low-cost\u2019 means different things to different people. And be realistic about your priorities.\u201d<\/p>\n<p>The Smelsons also spent a year decluttering, getting rid of virtually everything they owned.<\/p>\n<p>\u201cIt was done painstakingly, a little each day,\u201d Cheryl says, and when they arrived in Panama, they were down to two large checked suitcases and a carry-on bag each. That\u2019s it. There\u2019s really nothing that can\u2019t be bought in Panama anyway, she adds.<\/p>\n<p>The Smelsons also set up a virtual mail service in the U.S., which will only forward essential pieces of mail.\u00a0<a class=\"icon none\" href=\"https:\/\/www.reviano.com\/blog\/best-virtual-mailbox-service.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">What\u2019s \u201cvirtual mail?<\/a>\u201d Here are several companies that offer a variety of services.<\/p>\n<div class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \" data-layout=\"inline\n                \" data-layout-mobile=\"\"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \"><\/p>\n<div class=\"image-container  responsive-media article__inset__image__image\" data-subtype=\"photo\"><img decoding=\"async\" title=\"\" src=\"https:\/\/images.mktw.net\/im-398486?width=700&amp;height=934\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" srcset=\"https:\/\/images.mktw.net\/im-398486?width=540&amp;size=0.7498535442296427 540w, https:\/\/images.mktw.net\/im-398486?width=620&amp;size=0.7498535442296427 620w, https:\/\/images.mktw.net\/im-398486?width=639&amp;size=0.7498535442296427 639w, https:\/\/images.mktw.net\/im-398486?width=700&amp;size=0.7498535442296427 700w, https:\/\/images.mktw.net\/im-398486?width=700&amp;size=0.7498535442296427&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-398486?width=700&amp;size=0.7498535442296427&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-398486?width=700&amp;size=0.7498535442296427&amp;pixel_ratio=3 2100w\" alt=\"\" \/><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\">\n<h4 class=\"wsj-article-caption-content\">The slimmed-down possessions Cheryl and David took with them to Panama.<\/h4>\n<\/figcaption><\/figure>\n<\/div>\n<p><strong>Banking<\/strong><\/p>\n<p>One drawback: It\u2019s harder to open a local bank account in Panama than in the U.S., Smelson says. The Panamanian law firm they hired to process their residency visas helped cut through red tape, and now they\u2019re good to go. Wire transfers are common and so is cash \u2014 compared to the increasingly cashless and digital U.S. \u201cWe\u2019ve found cash is used more commonly, although most restaurants in the (Panama) city take credit cards.\u201d<\/p>\n<p>It\u2019s important to add that anyone seeking to\u00a0apply for a permanent residency visa in Panama is required to retain a Panamanian law firm, Cheryl says. \u201cOur law firm was among those recommended by the organization that specializes in helping Americans relocate to Panama. It\u2019s an extra service to have the law firm help set up a bank account, but very well worth it in my opinion.\u201d<\/p>\n<p>She adds: \u201cOur Spanish is not good (they\u2019re learning) and government and banking officials mostly don\u2019t speak English, so a bilingual law firm is extremely helpful.\u201d<\/p>\n<p><strong>What about you?<\/strong><\/p>\n<p>Have you retired abroad? Are you thinking about it? Tell me where you are\u2014or where you\u2019re considering moving\u2014and why? Help me share your advice with others. Write to me at\u00a0<a class=\"icon none\" href=\"mailto:RetirebetterMarketWatch@gmail.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">RetireBetterMarketWatch@gmail.com<\/a>\u00a0\u2014 and thanks.<\/p>\n<p>Get Vaccinated and stay safe!!<\/p>\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f16536-o1\" lang=\"\" dir=\"ltr\" data-wpcf7-id=\"16536\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/31976#wpcf7-f16536-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"16536\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.6\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f16536-o1\" \/><input type=\"hidden\" 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has<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,12,241,39,248,34,33,62,42,219,11,249,243,7,246,244,262,281],"class_list":["post-31976","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-relocate-to-panama","tag-rum-in-panama","tag-safety-in-panama-panama-real-estate-bocas-del-toro","tag-travel-to-panama-rent-in-boquete-expat-tourism"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - 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