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You will find that living in Panama can be quite agreeable. All of the products and services (including business services) are available at comparable prices to what they are in North America. Wages are very low compared to US standards.  A full time bilingual secretary can be hired for US$400 per month. Should you wish to have live in domestic help, the starting wage is about US$90 per month for a maid that will also cook. These are the standards. You may end up paying a little more for help, depending upon what you are looking for.  

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Rentals and property prices in Panama are downright cheap compared to what you would have to pay in a big city in North America or Europe.  You certainly can find an apartment for $ 100 per month or a small home in a new sub-division for $ 40,000.  In contrast, you can buy a luxury apartment for $800,000 or more in Punta Paitilla or Marbella. Everything is a direct function of where you want to live and what you are comfortable with.  For a few reasons that I spell out in my report and newsletters, now is probably the best time to locate a bargain luxury rental in Panama City!  Almost all apartments and homes in Latin America come with what can be translated into English as a "service room".  This is usually next to the small maid's quarters, and is quite handy with an extra bathroom & utility sink.  Even a one-bedroom apartment will usually have this type of arrangement.  

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Utilities will cost you as follows; Cable television (60 channels including HBO & Cinemax in English, CNN, The English BBC, Discovery Channel, etc.), US$40 per month. Telephone service, $ 20 per month with local calls only. Long distance can be a high as $ 2.50 per minute to Europe or North America.  Internet service, US$ 30 per month with unlimited use up to speeds at 56k.   Your electric bill will be about $ 90 per month if you operate 2 air-conditioners all night every night and 24 hours a day on the weekends.  I know, because I have done it and that was my bill. Since there is no in ground gas system as found in Europe of the US, everyone cooks with propane.  All stove are equipped to connect with a propane gas tank similar to what is used with an outdoor gas grill. It costs about US$ 5 to fill the tank, and you should not have to fill it more than once every two months.  I never have had any problems with this kind of cooking system, but it is a little getting used to if you are coming from Europe or the United States. I have a European friend that is still terrified of the gas tank, so I suppose it is more of an adjustment for Europeans than Americans. 

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One question I enjoy hearing concerns food shopping and stores.  I am often asked, “Do they have supermarkets in Panama?”  Yes they have supermarkets in Panama; great big ones just like the states.  The all inclusive supermarket concept is very common place.  Supermarket Rey, Super 99 and Casa de Carne all have in house bakery sections, fish departments, fully stocked shelves of all kinds of local & American brands. There are also deli counters offering Kraft cheese, Boar’s head and Armour brand cold cuts.  You will find the super market chains in Panama to be no different than Kroger, Food Lion, ShopRite, PathMark, Edwards or any other American chain.   

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Healthcare is quite good in Panama and very inexpensive.  Americans especially are concerned about health insurance due to the high cost of health care and prescription drugs in the U.S. There are a number of local Panamanian insurance companies that offer health insurance coverage in Panama for about US$35 per month.  These plans work quite well and are fairly inexpensive.  Even though a stay in a quality private hospital is down right cheap compared to the same thing in the U.S., it is not difficult to find a private insurance plan for yourself that will cover anywhere from 80% to 100% of your bill.  

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My only real complaint about Panama is the weather.  Of course it is warm and sub-tropical due to its location, but I have found the humidity to be much higher and more noticeable than other places in the Caribbean.  As a contrast, I find the Dominican Republic to be much more agreeable in terms of fresh breezes and general “feel” regarding the weather. Also, the seasons in Panama are the reverse of Europe or North America.  Winter is considered to be April through October due to the large rainfall during this time period.  Londoners may feel right at home, but it took me a while to become adjusted to my umbrella or bumbershoot as my constant companion.  November through March is considered “Summer-time” due to the dryer days and less rainfall. In all fairness, the rainfall usually lasts for only two hours a day in the Wintertime season, but it can be quite strong and rapid.  If anyone is familiar with Florida, they will understand my meaning.   

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Overall, in my opinion you will not find a better and more affordable location than Panama.  The use of the US dollar, inexpensive housing and cost of labor, convenience of familiar stores and products all make Panama the ideal retirement or expatriate destination.