Articles and Position Papers
Americans Look South of the Border for Retirement Planning
February 2010
Americans aren’t saving enough for retirement. People are living longer than ever before, and many are simply outliving their assets. Medical coverage in the U.S. is also an issue.
This has encouraged more people to explore ways of lowering their cost of living without reducing their quality of life. Mexico and Central America are very attractive options. The climate is sunny and mild, projects are being built to U.S. stand-- most importantly -- one can live in a vacation resort year round for less than the cost of maintaining one’s current lifestyle in the U.S.
According to Panorama International’s Executive VP for Central America and The Caribbean, Stephen Drechsler, a number of projects in the region cater specifically to Americans and Canadians. “A large and very impressive project in El Salvador currently in the advanced stages of planning, Playa Secreta, will have at completion a dozen hotels, one of the largest marinas in Central America with capability of accepting cruise ships selectively, an impressive ocean-side golf course, a regional tennis center, an equestrian facility, an authentic 17th-Century village as the Town Square, and numerous other attractions. While it is expected to have broad regional appeal, it will be keenly attractive to the North American market, with all the “comforts of home” like broadband internet access, state-of-the-art security, top medical facilities accepting medical insurance plans from around the world, a variety of international dining facilities and access to al, of the local Salvadoran attractions.”
Similar but smaller projects are also available on Isla Roatan in Honduras, on the Pacific Coast of Nicaragua, in Costa Rica and in Panama. “In Panama”, notes Drechsler “a variety of developments along the Pacific coast within two hours of the capital, Panama City, with its impressive array of high-rise hotels and apartments, are very appealing to many North Americans, Europeans, Colombians and Venezuelans. As well, several distinctive developments in the highlands of the Boquete area in southwestern Panama near the Costa Rican border, where, at more than 1000 meters of elevation the climate is much cooler, appeals strongly to Americans and Europeans who prefer the cooler highlands to the more tropical coastal areas.”
All of these developments provide high-quality construction with the conveniences expected by foreigners, relatively attractive prices, availability of first-class medical services at very attractive prices, and hired help such as gardening and maid services for much less than one would be accustomed to paying “up north.”
“Ten years ago” notes Drechsler, “retiring or owning a second home in Central America was only for the adventurous and the bold. Now, it is becoming increasingly common, and potential North American purchasers are often quite surprised by the wide variety of facilities available, and clearly find the pricing and amenities very attractive. It is a trend that appears to be increasing as more and more opportunities become available and more and more of their friends and neighbors “take the plunge” and report happy results.”
Click here to return to articles
