Wondering where the best place is to retire young? How young you might ask? How about retiring at just 19 years of age?
Nineteen?! You ask, incredulously.
Well it's a god idea to spell it out and clarify that youthful age. And the truth is there actually is a place in the world where you can retire that young. That country is Panama.
Each year, International Living Magazine publishes it's Global Retirement Index. They search the world for the best places to retire, live, work, and invest. And for five years in a row, Panama took 1st place, hands down over all the other countries. It’s no big surprise to us, because because we've lived there and we know of no other country that has such a generous program for attract retirees and pensioners regardless of what country they come from. It's called the Pensionado Program and it's loaded with perks and benefits but something you may not know is that it's possible to qualify for Panama pensionado program at any age of majority. That means a nineteen year old can apply and receive the pensioners visa and all the benefits that go along with it.
You see Panama has a different way of looking at retirement.
When it comes to business and finance Panama has always been an innovative country. When they observed the baby boomers starting to retire and scope out alterative locations to do so they realized that "retirement" was being redefined. That a new generation of retirees had very little in common with the retirees of 50 years ago. That's why in Panama, retirement isn’t based on age, it’s based whether you can afford to retire. Whether you have enough earnings to Retire Young.
If anyone can demonstrate that they have a 'pension' or long term paid benefit that earns them a minimum of $500 per month, they can qualify. The only age caveat is that you are a legal adult - that you have reached 'the age of majority' meaning 19 years old.
So, if you can prove you have $500 a month coming in for the rest of your life and a few more easy requirements, like no criminal record, then you qualify for the generous package of 'Pensionado' benefits, including: 50% off hotel room stays; 30% off public transport including airfare; 20% off doctors visits; and a whole lot more.
Panama is safe. It's has a very stable democracy. It's people arre extremely friendly. Plus Panama boasts one of the best health care systems and modern infrastructures in all of Central America. If you take just a little time to learn about Panama, you will soon find it just keeps looking better and better. Panama is also known for it's pristine nature where the country’s wildlife is abundant. That’s a big reason the Smithsonian’s Tropical Research Center is located in Barrio Colorado, Panama.
If you remember your geography then you know Panama also has two long coasts - one on the Pacific and the other on the Atlantic - Caribbean. There you can discover adventures that are off the beaten trail or as Panama likes to say, 'The Path less Traveled'. In Panama you’ll find rain forests, white, golden and black sand beaches; in addition to everything you could possibly desire in a tropical paradise like: snorkeling, the world's best big game fishing, sailing, hiking… and much more. Panama also has territories inhabited by the seven indigenous peoples of Panama where you can safely explore and learn about cultures past.
Yes, if you're one of those fortunate souls who is ready to retire early and enjoy an exotic lifestyle you can do it in Panama!