Although Panama is a Spanish country, most locals are bilingual and speak English. As one of the safest countries in Central America, it’s a great option for those looking for a new experience and to find out what it’s like to live like a local in another country.

In Panama, the cost of luxury property is much less than it would be in North America. Panama law allows foreigners to buy property as long as it is 6.2 miles away from Colombia or Costa Rica and there are no restrictions on beach front properties.

Heath care in Panama is comparable to North American standards, with many U.S.-trained doctors actually U.S.- trained. There’s even a John Hopkins- affiliated hospital called Punta Pacifica in the area, which is the most medically advanced in all Latin America. Here’s the good news–it costs less. Prescriptions are more affordable and private health insurance is also much less per month in Panama.

For retirees making their home base in the country, Panama has the Pensionado visa, which is considered one of the world’s best pension programs for retirees. It includes discounts on everything from taxes–a one-time exemption on importation taxes for you move–to 50 percent off hotel stays. The Pensionado program also provides discounts up to 50 percent off for entertainment like movies, theater and sporting events.

For folks looking to move to another country, here are a few resources.

• For peer-to-peer information for retirees, visit Boomers Abroad, which is an interactive community of American ex-pats.
• Sperling’s Best Places is a user-friendly resource of destinations broken down by cost of living, crime, climate and more.
• Bankrate.com has a very handy moving calculator that compares the costs of moving to different countries.

For more information, check out:

• Peter’s radio podcast from the Trump Ocean Club in Panama City
• The Panama City guest list
• Peter’s Like a Local video from Destin, Florida