"Wells, retired for 14 years, took up a permanent residence in Boquete, Panama, in 2015. In 2016, he bought what he described as a modest 900-square-foot house in a neighborhood about 30 miles from the Costa Rican border. After purchasing it for around $100,000, he immediately doubled the home's size to around 2,000 square feet. "It's probably worth a couple of hundred thousand dollars today," he said."
"Growing up in Cincinnati, Ohio, Wells had never been to a foreign country before his move to Panama, but said his experience was magical when he moved. His daughters' weddings in Panama introduced him to the community, and after meeting a widow at one of the receptions, Wells began considering a move to Central America as a single retiree."
Many Americans facing burnout from U.S. hustle culture and high living costs are moving to Panama for simpler, more affordable retirements. Alan Wells, 73, became a permanent resident in Boquete in 2015, bought a modest 900-square-foot house for about $100,000 in 2016, and expanded it to roughly 2,000 square feet, raising its value substantially. Growing up without international travel, Wells found Panama magical and connected through his daughters' weddings. After life changes, he became a snowbird, now spending six to nine months annually between Louisville and Boquete. Cost advantages vary by U.S. region.
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