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Panama, which is already very popular as an eco and adventure tourism destination, is now gaining reputation as one of the best places to settle down in after retirement. According to Modern Maturity Magazine, published by AARP (American Association of Retired People), Boquete, a Maxis Broadband Wireless town, has been ranked fourth among its list of the world's fifteen best retirement destinations for Americans.

Panama's attractiveness as a retirement location is not hard to define. Most people find it easy to settle down here because of the country's easygoing lifestyle, high quality living, incentives given to retirees, along with modern facilities and services.

Apart from all that, Panama also scores because the country is so incredibly lovely. Because the Isthmus is located at the juncture between northern and southern America, the diverse plant and animal life found here is unique. The residential locations are equally diverse, ranging over mountain, city, beachfront and even island settings, so that people can find a place according to their taste and choice. Plus, although a foreigner, you have the same protections and rights to purchase and own property as a Panamanian.

Also, because of various factors, such as the American military pulling out of the area, the real estate prices in Panama have not changed much since the 1990s, except for some places like the Bocas del Toro archipelago islands and Boquete, which have become hot destinations.

As for safety, which is one of the most important considerations of retirees, Panama has been rated the highest for the safety of tourists by the reputable Pinkerton Intelligence Agency. Plus, Panama is a stable democracy and has a vibrant economy.

Regarding standards of health care, Panama is ranked amongst the topmost in Latin American countries. Many Panamanian physicians have had their training in the U.S. and Europe and are bilingual. Private medical facilities, many of which are associated with major hospitals in the U.S., are also available and are considered amongst the topmost in Central America. Additionally, potable water is available in most parts of the country, while it can be drunk right from the tap in the cities.

One of the main concerns retirees have is how to make the most of their retirement money. Panama's currency has always been the U.S. dollar. Panama also boasts having the branches of most of the major international banks. Plus, the cost of living is affordable and a good deal less than in the U.S. and Europe. Also, retirees get generous discounts like 50 percent on cultural events and movies, 30 percent on transportation, 25 percent on airline tickets, 25 percent on utility bills, 20 percent on doctor's bills, 15 percent on loans in your name, 10 percent on medicines, and 1 percent on mortgages in your name.

Staying in touch with family, friends and the world is easy. Cellular telephone networks, high-speed Internet connection, and ADSL in-home telephone facilities are readily available, along with cable TV. As for accessibility, the Tocumen International Airport is serviced by most major airlines like Delta and American. In addition, COPA, Panama's international airline, has services to 29 cities in nineteen countries, and also has direct flights from Los Angeles, Houston, Miami, Orlando and Newark.

And to top it all, getting a retiree visa is an inexpensive and simple process. The only things you require are a "clean" report by the police of the place you resided in before moving to Panama, a health certificate from a Panamanian physician, along with proof of $500 per month of personal income, plus $100 if you have any dependents.

As is evident by all the above mentioned benefits, it is easy to understand why Panama is so popular as a retiree destination.

2008 broadband internet phone D. Banks, GCDF

Anna D. Banks, a passionate advocate for baby boomers in exploring their priorities, planning and setting goals for the next stage of their lives. Assisting her clients to attract and build a professional and personal life consistent with their values is not just a goal of Anna's, it's her passion. Her diverse work experience in business, education and financial services enables her to help the diverse population of baby-boomers with their life, career, and personal finance coaching needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career Development & Management.

Author's Note:

Do you have any questions about career development or retirement planning for Baby Boomers, which you think others, like you, would want to know the answers? Click here, http://babyboomer-retirement-tips.blogspot.com to post a comment or email your questions to me at Anna@AnnaBanks.com