1. Volcan
IM Score: 28
Rent Cost: $375
Meal Cost: $4.0
Hospital to Population Ratio: 12,717
Temperature: 69/77°F
Rainy Days: 13/31
Sunny Days: 0/15
The most affordable option on our list of best places to retire in Panama is also the one we will recommend the last. The reason why Volcan is a perfect retirement destination lies in the fact that you’ll get the ultimate retirement experience and perks of similar destinations like Boquet but for a fraction of the price. Most people don’t know about the beautiful landscapes and peace that Volcan offers, which contributed to its affordability. If you are on a budget (and even if you have plenty on your disposal) Volcan will be the right choice. You’ll just have to hurry, since it is just a question of time before more people find about it.