10 Places To Retire and Pay Way Less In Taxes
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6. Panama
Panama is widely known as a retiree destination. Not only is it a tropical paradise, but retirees are drawn in by the big city life. Panama City is home to 2 million residents, which is half of the countries entire population. Another popular spot for retirees includes Bocas de Toro which is an eclectic city on the Caribbean coast.
Throughout Panama, retirees will love the low cost of living and the tax-free pensions. Property taxes are just 2.1%, but if you sell there’s a 10% tax on capital gains. There are also lots of other perks to Panama, retirees can get discounts of 20%-50% on air travel, bus and train tickets and other discounts on movies, restaurants and concert prices. That includes hospital services, too.
