Boquete: Panama This city offers a great retreat for the retirees. The panama offers nearly 20 to 50 percent discounts to retirees on airfare, buses, trains, concerts, movies, medical bills. It is a very affordable place. It was reported that a couple had made a purchase of seven acre organic coffee farm for $135,000. Panama has an outstanding benefit program for retirees making it one of the best places to retire. The Pensionado is a kind of program is available to anyone whose monthly pension is $1000. The cost of living is much lower than in Europe or the U.S.