If you love the thought of retiring outside the U.S. without going far away, Panama is a great bet. The tropical wonderland is a short flight away yet you are bound to enjoy first-class city living at a very affordable rate. Furthermore, Panama has many English-speaking locals. Rent costs approximately $620 per month for a one- bedroom apartment a stone’s throw away from the city center. Healthcare is also affordable, and you stand to enjoy many other benefits as a foreigner retiree, i.e., low property and car taxes. It’s also easy to get residency. You just need to prove that you have $1,000 or more a month as pension from your home country. The pension program dubbed Pensionado is capable of covering the main retirement costs.