They also enjoy a low cost of living, with monthly rent for a one-bedroom apartment ... and retirees mulling Panama City as a retirement landing only need to demonstrate a retirement income ...

Jackie Lange, 69, moved to Panama from Texas in 2010 ... she bought old homes and kept some as rental properties, meaning she could retire early and live off her rental income.

In recent years, Panama has steadily risen as a top choice for retirees. The country recently claimed the number one spot on International Living magazine's list of the best places to retire in 2025.