American retirees looking for a change of pace away from the U.S can look to Panama. The country’s retirement visa, the pensionade program, is open to Americans, provided they bring in at least $1,000 monthly or purchase a property valued at a minimum of $100,000 and have an income of at least $750 a month. The visa brings with it a raft of discounts on everything from 10% off medications to 50% off entertainment, 30% off public transport, and more.
One such expat, Mary Taft, a 63-year-old retired teacher, told MarketWatch: “It is an act of insanity to stay in the U.S.” She moved to Panama in 2018 with her two daughters. According to the Association of American Residents Overseas (AARO), the Western hemisphere— Canada, Central and South America — account for 40% of all destinations for expats. Latin American countries scored highly in the 2018 Expat Insider rankings by InterNations, with Ecuador ranking 3rd, Mexico 4th, Costa Rica 7th, and Colombia 9th.