This  is one of the most commonly asked questions I get from retirees. The answer is yes, you can live off of your social security payments... and live well.  

According to the US government, the average retired couple gets $2,100 per month, so that's what I based my numbers on. If you get more than that, congratulations. If you get less, there are some ways to cut corners without feeling the pinch.

I've estimated this budget on a two-person household who live in a 1- or 2-bedroom apartment in a secure area in the Coronado Beach Region. I'm a big proponent of apartments for expats because you don't have to worry about maintenance, security or falling off of a ladder. Plus, if you want to travel, you can just lock-it-and-leave-it. Plus, you can get an apartment that is beachfront or ocean view that fits into these budget numbers. 

• Rent or mortgage, $900: If you buy an apartment outright, you'll obviously have more disposable income at the end of the month. That is always my recommendation if you can swing it. An average rent amount can be anywhere from $600 - $1000 per month, but if you buy a $200,000 condo, your payments and monthly administration fees will be somewhere in the neighborhood of $900 per month.
• Utilities, $50: Utilities will vary depending on how much you use your air conditioners. If you like it warmer, plan on a much lower utility bill. 
• Transportation, $25+: The least expensive way to get around is by taking taxis. They're cheap, and plentiful. If you live in Panama City or Coronado, you can take regular excursions to the grocery store, the golf course and dinner for just a few dollars per ride. You can even take an air conditioned bus from the Coronado Beach area into Panama City for just $2.50.  If you want to have your own car, insurance is less expensive than in N. America, and even if you drive somewhere every day, the short distances involved mean that your gas tank won't take a big bite out of your budget.
• Food, $300: Food is another area that can vary greatly depending on your eating habits. If you eat like a local with a diet rich in fish, chicken, eggs, beans, rice, and local produce, you'll eat well for $300 per month. To give you an example, I go to the produce market once each week and fill my SUV with fresh pineapples, basil, onions, peppers, potatoes, lettuce, cabbage, eggplant, mangoes, bananas and plantains for about $20 per week. When I go to the fish market, I can get fresh Corvina for $1 per fish. Of course, then I go to the wine store and blow my budget, but we all have our little splurges.
• Cable & Internet, $50: Basic cable and Internet service will get you plenty of channels to watch and Internet that's fast enough to surf the web and send emails. If you want to spend another $8 per month, you can get Netflix and watch streaming movies.
• Health Insurance, $250: I think that insurance is a form of legalized gambling, but it's one of those necessary evils that we all have to have. 

Another thing to consider is the discounts you'll receive as a retired pensioner in Panama. All you need to do is apply for the visa. (I've got a great lawyer if you need a recommendation. Just email me.) You will get discounts on everything from movie tickets to restaurants to electricity.

Another way to keep your entertainment budget down is to use the Panama daily deal site, Oferta Simple. You can get deeply discounted massages, restaurant meals, and hotel stays. I even used an Oferta Simple to get my teeth cleaned for $12.

According to this budget, you've spending $1,575 per month to live in a nice apartment in a beautiful beach area. If you're living just on social security, you have a little more than $400 per month for extra things, such as manicures and golf. You won't need to budget for airline tickets because your entire extended family will want to see you once you live in Paradise.

And the winner of the Casa Bonita Happy Hour recipe contest is.... the Panama Cheese Dreams pictured to the left!

The competition was fierce, but these melt-in-your-mouth bits of perfection won by one vote. Since I enjoyed the prize of a one-hour massage in our 5-star spa, I wanted you to be able to share the fun by trying this tasty recipe.

This recipe has been around awhile, but I kicked it up a notch. Since they are now an award-winning recipe, I renamed them from Cheese Dreams to Panama Cheese Dreams to reflect the flavorful lifestyle of an international community.

Panama Cheese Dreams

1 loaf white sandwich bread
2 cups Smoked Gouda cheese, grated
1 cup butter, softened
2 Tbsp. heavy cream
1 large egg
1 tsp. Worcestershire Sauce
1 tsp. Yellow Mustard
1/4 cup Cholula Hot Sauce *
1/4 cup Chives, finely minced
1/2 cup bacon bits (optional)


Dice 4-5 slices of thick-cut bacon into small pieces. Fry until crisp. Use a slotted spoon to remove the bacon from the pan and cool on a paper towel until the excess grease is absorbed.

Using an electric mixer, beat cheese and butter until blended. Mix in the cream, egg, Worcestershire, mustard, and chives. Stir in the bacon bits by hand, and then add Cholula to taste. 

Cut the crusts from bread slices using a serrated knife, and then cut each slice of bread into 4 pieces. Spread the cheese mixture thickly on one square of bread, and then top with a second square of bread. Then spread cheese mixture on the top and sides of the sandwich. (This is messy, so either use food prep plastic gloves or make sure your hands are scrupulously clean.) Place sandwiches spaced 1" apart on a lightly greased cookie sheet. Bake at 375 for 15 minutes, or until the tops are golden brown. 

These are best when warm, so if you want to have hot appetizers throughout the evening, bake these in small batches. If using a toaster oven, lower the baking temperature to 350 and decrease the time if necessary.


* Note: Other hot sauce can be used, but I prefer Cholula's rich creamy flavor in this recipe over the vinegar taste of many other hot sauces, such as Tabasco.

I love appetizers. I will often order two appetizers in lieu of an entree at a restaurant, and I much prefer appetizer parties to dinner parties. That being said, I usually don't think about appetizers until late afternoon, when I pour a glass of wine and relax in my hammock. This morning, I woke up before dawn obsessed with appetizers. You see, we are having an Art & Appetizer social today at cocktail hour, and there is a free one-hour massage for the winning appetizer. Being a competitive person, I want to win.

I spent the past week thinking about which appetizer to make. I've thrown enough heavy-appetizer parties to know which ones are crowd pleasers. I bought ingredients for three different appetizers, not knowing for certain which one I would end up making.

Last evening, I asked a friend in passing what he was bringing. He answered in an offhand manner, "Something with artichokes." The way he said it made it sound like he hadn't put much thought in it. I cleared him from the slate of true competitors from the contest, and I went about my business. 

My subconscious had been working on the appetizer dilemma all night, and my taste buds had a delayed memory reaction to his offhand comment. When my eyes flew open at 5 a.m., I knew exactly which appetizer he makes that has artichokes in it, even though I hadn't tasted it in years. It's not just good, it's make-your-taste-buds-salivate good. When I woke up pre-dawn, I knew I had to bring my A-game to this appetizer contest. His offhand comment was a ruse. He wanted to win the contest as much as I did.

My three potential appetizers were all beautiful works of art that would make a 5-star chef proud. In my past life as The Wine Maven, I worked with many accomplished chefs who taught me how to WOW my guests with presentation. In this contest, though, I'd have to go straight for calorie-laden taste.

Knowing that my audience was a mix of meat-loving and vegetarian, I had to err on the side of caution. I almost chose a hot bacon cheese dip, but knowing that part of my audience was vegetarian, I knew I had to appeal to all tastebuds.

After pouring over recipes, I chose a hot cheese bite recipe. My rationale is that the baked cheese appeals to almost everyone, and the fact that it's hot would help give me the competitive edge.

For those of you who think you might be bored in Panama, think again! Between cocktail hour with other residents, a day of deliberating over recipes, and an art show to look forward to, I barely have time to write this blog.

Want to know which appetizer won the contest? Stay tuned until tomorrow.