You may also want to add up all the extra-curricula activities like various sports, music lessons, art, dancing, singing, etc for kids and total it onto the monthly expenses. You can easily find yourself dropping another $1,000 in the blink of an eye here.
Schooling, schooling, schooling… ignored or forgotten… with annual school fees in Panama for semi-decent to decent schools ranging from $5000 to $20,000 plus all the other fees like annual matriculation, technology fees, school buses, food etc. Also failed to mention that you have to pay a non-refundable “donation” of between $5,000 and $20,000 per child to get them into the decent schools.
You are right, Mike, schooling for those families who have school age children is another significant factor to take into account.
Thanks. I am considering Panama for retirement in 2020.
Actually few people drive 4-wheel drive cars. There is no snow.
Also gas is More expensive in Panama as they have to local petroleum and must import finished fuel from abroad.
True there is no snow 😉 but I see lots of trucks and 4WD’s like the Toyota Prado on the roads here – out at the beach, and in the more rural areas more predominantly, but even in the city!!! Go figure 🙂
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