“Give Me a Break!”

All he wanted was a dignified retirement… a little comfort and respect after a lifetime of hard work. Here's what he got:

A gorgeous condo with a fantastic ocean view. A doorman who takes care of everything and a maid who keeps the place clean and does the laundry. Fabulous meals at the city's best restaurants. Freebies. Discounts. Special treatment everywhere. And never a minute spent waiting in line…anywhere.

Thanks to Panama's Pensionado Program, he says
“I'm living like a celebrity!”

Dear International Living Reader,

A few years ago, at his home in Orlando, Al Fine fell and cracked a hip. After several phone calls to the local Medicare office, one thing became clear: Medicare refused to pay for the hip replacement surgery he needed.

In his mid 70s, Al was told he was “too old for a hip replacement surgery.”

This was the ultimate humiliation, he felt. After all, he'd worked hard all his life, paid his taxes, and paid into Social Security and Medicare. And this was his payback.

Al was furious. He grudgingly paid for the expensive surgery out of his own pocket. But he wasn't happy about it. All he really wanted was the care he was entitled to. And to live out his retirement years as comfortably as possible, with the dignity and respect he felt he'd earned after a lifetime of contribution.

So when his wife, Carmen, suggested they move to her home country of Panama, Al was all ears.

“The Panamanian people are very kind and courteous,” he says. “And they're very respectful, especially to people my age. They open doors for you, offer you a chair….”

But would this courtesy and respect extend to everyday living in the country, Al wondered?

What he found out shocked him. And delighted him. Because respect for seniors is actually a law in Panama.

In 1987, you see, Panama passed Law 9. Originally designed as a way to reward Panama's own senior citizens for a lifetime of hard work, the government of Panama extended these same benefits to foreigners who retire to Panama.

Now known as Panama's pensionado program, it's the most generous and appealing program of special benefits you'll find anywhere in the world today.

Best of all, you needn't be any ‘official' retirement age to qualify.

As Al Fine learned more about Panama's pensionado program – and the appeal of Panama itself -- the more determined he was to start a new life there. He and Carmen sold the house in Orlando and bought a brand-new high-rise condo with a sparkling view of the Bay of Panama.

Today, six years later, he couldn't be happier with that decision. As he says, “Opportunities don't go away. They go to someone else. I was determined not to let this opportunity to live this fantastic lifestyle pass me by.”

In Panama, he says, “I live like a celebrity…like I have all the money and prestige in the world. And I'm doing it all on a pensioner's budget.”

As he tells it, he never has to wait in line at a bank, hospital, or restaurant. (Pensionados have their own VIP lines or go right to the front at these places.)

And he gets special discounts on everything from movie tickets to plane tickets and just about everything in between.

“By law, you get a discount on everything you touch,” he says. “I pay $2 to watch a first-run movie at a 14-screen theater…in English. I pay $5.50 for a blood test to check my cholesterol at the Johns Hopkins Hospital, and I pay $185 for a round-trip air ticket from Panama to Miami.”

Plus, he says, he and Carmen eat out regularly at some of Panama's most popular restaurants. “A couple of bucks for breakfast, $2.25 for lunch, less than $5 for dinner. Is this a great country or what?!”

Panama Should Be in the Top Spot on Your
Retirement Destination List

• It's close to the U.S. (just a 2 ½ hour flight from Miami).
• Besides being politically stable, crime rates are very low.
• The weather is excellent and there is a climate for everyone, thanks to both tropical beaches and temperate mountains.
• The health care is top-quality and affordable – our gleaming new Punta Pacifica Hospital is affiliated with Baltimore's renowned Johns Hopkins Hospital.
• You'll pay zero income taxes in Panama on your foreign-earned income.

• You can drink the tap water nearly everywhere.
• You won't pay a dime in property taxes on most homes or condos constructed in the last 20 years.
• The U.S. dollar is the official currency.
• There is a built-in community of English-speaking locals and expats.
• No hurricanes here – ever!

The Perks and Prestige of a Pensioner in Panama…

As a qualified pensionado in Panama, you're entitled to:

• 50% off entertainment--such as movies, theaters, concerts, and sporting events -- anywhere in the country
• 50% off closing costs for home loans and more...
• 50% off hotel stays from Monday through Thursday
• 30% off hotel stays from Friday through Sunday
• 30% off bus, boat, and train fares
• 25% off airline tickets
• 25% off at restaurants
• 20% off medical consultations
• 20% off professional and technical services
• 15% off hospital bills (if no insurance applies)
• 15% off dental and eye exams
• 10% off prescription medicines
• And more…

Are There Still Deals to Be Had on Panama Real Estate? YES!

As Business Week magazine reported just last year, “a luxe beachfront manse can be had for the same price as a dump in Daytona.”

• In Panama City's Betania neighborhood where I live (and where many Panamanian professionals make their homes), a classy-but-small (just 620 sq. ft.) condo is on sale for just $65,000. (Monthly fees are just $18!) Or be the first to move into a brand-new ultra-modern 820-sq.-ft. condo going for just $85,000.
  

• In the new Punta Pacifica neighborhood (where Al Fine and his wife, Carmen, live), a new two-bedroom, two-bath condo, fully furnished by an interior designer. There's a nice balcony to catch the ocean breezes and with views of the bay and the city. The building has a large swimming pool and exercise room, too. Price: just $165,000 and remember, that includes the furniture!

• In the established Cangrejo neighborhood (very popular with expats) you can pick up a 2700-sq.-ft. three-bedroom, four-bath penthouse with two large balconies for just $239,000 – and the owner says the price is negotiable.

• A four-bedroom home on a lot of nearly half an acre in the cool mountain town of Cerro Azul, just 30 minutes from Panama City. It has two covered terraces and a swimming pool. Price? An unbelievably low $90,000!
  

• In Boquete, the boutique mountain town in the Chiriqui province that's become somewhat of an expat enclave (although it certainly retains its Panamanian flavor) you can buy a 1600-sq.-ft. two-bedroom home on a large lot, an easy walk five minutes from the heart of the village for just $90,000. It's equipped with cable TV, Internet, and phone and you'll love the shady yard with its lemon, orange, and mango trees.

• On Ismito Beach on the Island of Bocas del Toro, there's a one-bedroom condo in a canary-yellow plantation-style building right on the water. It has a big balcony with jaw-dropping views of the Caribbean. Price: just $92,000.
  

• On the Pacific side, in classy Gorgona, a new two-bedroom, two-bath apartment with a birds-eye view of the dazzling blue ocean and the swimming pool is offered for just $139,000.

Reclaim Your Retirement Dreams Like This Steve and Linda Did

A Man, a Plan, a Canal: Panama's Economy is Strong and Growing

• Panama is more modern than any of its neighbors. You can stay at a rainforest resort or an island hostel and still enjoy the same high-speed Internet that you would in Panama City. (I can work from anywhere, even holding conference calls via VoIP programs like Skype.)
  

• From the expanding international airport at Tocumen, also known as the Hub of the Americas, you can travel anywhere in the world...often on a direct flight.

• New cars of every make and model safely travel perfectly paved roads and highways...the country is small, so you can easily drive from the city to the rural, interior areas, including those gorgeous cool mountains, in just a few hours. See the sun come up over the Caribbean and go down over the Pacific all in one day!
  

• With historically low inflation, one of the world's biggest banking sectors, and a new business-friendly president with a “go get ‘em” attitude, Panama offers a combination of benefits that no other Latin  American country can match.

You'll Enjoy the Ultimate Overseas Lifestyle in Panama

So let's talk affordability… I've already touched on the low costs of buying real estate in Panama. And I've mentioned the low cost of living here. But just to give you an idea, here's a typical monthly budget, based on calculations for two people living in a mid-range, two-bedroom apartment in Panama City:

Note that this sample budget doesn't include groceries or entertainment, but a good rule of thumb is to budget about half of what you spend at home. We've listed a range for some other costs, because some depend on your habits and consumption. And, of course, if you pay outright for your home you won't have any housing costs.

And remember: this budget is typical for a city dweller. If you choose to live outside Panama City – in a pretty little beach town or even in a mountain village like Boquete, your monthly expenses will be considerably less…up to 40% less, in fact.

Take it from me: in Panama, even the lowest budget affords a very good lifestyle. You really can enjoy guilt-free conspicuous consumption at laughably low prices. And on a daily basis!

For instance, splurge on a day of beauty at a great spa ($10), pay a maid to clean your house ($15 a day). A complete blood workup at that gleaming new Hospital Punta Pacifica I told you about earlier (managed by Johns Hopkins Medicine International, remember) is $36. A checkup with a physician is $50.

And if you're in Panama on a pensionado visa, you'll get a discount of up to 50% on these already amazingly low prices!

How about health care and health insurance? I know boomers who were paying roughly $1,200 a month in the U.S. for health insurance who say that in Panama, they are paying roughly $800 a year for coverage. My friend, Barbara Dove, for instance, is 67 years old and suffers from Parkinson's disease. Worried that she would eventually need in-home care if her condition deteriorates, she first researched rates in her hometown of Seattle, where she found that nurses run $25 an hour. Here in Panama City, where she has lived since 2007, they cost $25 a day.

So are you ready to learn more about all that Panama has to offer?

Take Action Now—There's Never Been a Better Time

Your Quickest Route to Enjoying the Good Life in Panama

• How to choose and easily qualify for the right visa. The residency process is simple. And unlike some other countries we know, Panama has never revoked residency rights. So once you have your residency it's yours…for life. Your visa typically takes no more than 90 days to process. You just need to know which visa is right for you and where to start.
• Where to find affordable, first-rate health care. You'll find all the health care services that you want and need, but at a fraction of the prices in the U.S. or elsewhere. Insurance, too, is highly affordable, as are prescription medications. Many that require a prescription in North America are available over the counter in Panama. Get the complete rundown and well as contact info for doctors, hospitals, insurance agents, and more in your newly updated Panama: The Owner's Manual
• Financial privacy and tax benefits. Long before Panama became known as a top retirement destination, it was known by a select, wealthy few as a business and offshore banking haven. Open a bank account, set up an offshore corporation, trust, or private foundation… and take advantage of major tax and asset protection benefits. And remember, when you move to Panama, you're eligible for an exemption on import taxes, a 20-year exemption on real estate taxes, and you'll pay zero income tax on your foreign-earned income.