New Mexico
A boomer who moved to Panama after years as a bartender in the Hamptons and New Mexico outlines the pros and cons of living in Central America
- George Stumpp, a retired bartender, lives comfortably in Panama after moving from New Mexico.
- Stumpp rents two properties as Airbnbs, supplementing his income in a country with good healthcare.
- He said Panama has robust infrastructure, a lower cost of living, and many of the same stores as the US.
George Stumpp, 65, worked as a bartender and bar supervisor in Long Island and New Mexico for decades. Realizing his retirement savings could go further in a different country, he settled in Panama.
In 2006, he and his wife bought a property on the outskirts of Panama City for $37,000 in cash, traveling back and forth until his retirement. After 15 years of going back and forth, he settled there permanently in 2021, renting out two casitas as Airbnbs to supplement his income. He’s enjoying retirement in a country with a lower cost of living and high-quality healthcare, and he said he’s enjoyed adapting to Panamanian culture.
“One of the reasons I chose Panama over other Central American countries is because we’ve got better infrastructure than anyplace else,” Stumpp told Business Insider. “It’s a thriving country, and a lot of that is based on income that they get from the Panama Canal.”
George Stumpp
As the cost of living continues to increase, driven by elevated housing costs and still-high grocery bills, many American retirees are looking abroad for retirement. Some recent retirees previously told BI they’re living much more comfortably in places like Colombia, Thailand, and St. Maarten.
Leaving the US
Stumpp grew up in the Hamptons on Long Island and eventually worked as a bartender for 15 years. He worked at rock ‘n’ roll clubs in the 1970s then found work at more upscale bars and restaurants.
As Long Island got more expensive, he decided to relocate to Sante Fe, where he had a cousin at the time. In 1993, he moved to Santa Fe with his then-girlfriend and her two kids.
He got a job at a luxury hotel downtown, working his way up the ranks to bar supervisor. For years, he managed the bar, from creating schedules to ordering inventory. As his kids got older, he started to vacation in Central America, traveling to Costa Rica, Belize, and Panama.
His parents had retired to a lakefront cottage in Ontario, Canada, so he knew he wanted to retire abroad. In the mid-2000s, he started looking into purchasing a property in Belize, a predominantly English-speaking nation, although he and his wife ended up passing on it after noticing it wasn’t as peaceful as they wanted it to be.
After reading more about Panama and seeing more Americans moving there, they took a lengthy trip searching for potential properties. He noticed he could get cheaper prices by calling the number on hand-painted signs outside homes instead of going through real estate websites, which would upcharge nonlocals.
Buying a home in Panama
He settled on a nearly half-acre property for $37,000 back in 2006 located three minutes from the beach, giving his Sante Fe home to his stepdaughter. The property had an old home that was falling apart, and he and his wife built a smaller house toward the back of the property with a bedroom, small kitchen, bathroom, and front porch. They split the old house in two as rental units. He owns his property outright with no mortgage, and his annual property tax is less than $100.
George Stumpp
“We literally just took it apart — it was wired with extension chords, and it was in sad shape,” Stumpp said. “We took it apart, put it back together again, and turned it into these two cute little Airbnb rentals. I’m not making a million dollars, but it’s supplemental income.”
After moving back and forth between Panama and the US for work for several years, he finally decided to retire and put his Santa Fe house on the market in 2021, noticing his home increased over $100,000 in value from the year before. He sold his convertible and bought an SUV, drove around the US for four months visiting friends and seeing national parks, and then flew back to Panama with his dog.
Moving to Panama permanently
He said over the last two decades, Panama’s infrastructure has become much more robust than many other Central American countries. He said the city has good healthcare, a thriving financial scene, and plenty of big-box retailers and large chains.
Within 15 minutes of his house, he said there are four grocery stores, a Home Depot-like retailer, and many restaurant chains similar to those in the US.
George Stumpp
“Anything I can buy in the States I can buy here. You might pay a little bit more for certain things, but then again, there’s always alternatives,” Stumpp said. “I can buy Kellogg’s cornflakes and pay a lot of money, or I can buy the local cornflakes for a lot less.”
Because he’s over 60, he gets discounts on his utilities, doctor visits, public transportation, flights, and even movie theaters.
He’s seen many large condominium complexes built along the beach that sell for about $300,000 with monthly maintenance fees of between $150 and $250. In his area, which has fewer tourists and expats, home prices are much lower, though he said sometimes houses can stay on the market for years without buyers.
His electricity fees are about $50 a month, while WiFi is $40 a month. His water bill is a miniscule $5 a month, and he rarely uses air conditioning, which keeps costs down. Still, he estimates his grocery bills are comparable to what he spent in the US, though going out to eat is slightly less.
“As more and more North Americans come down, prices on certain things like services have gone up,” Stumpp said. “When I first got here, a hand carwash was $2, but now it’s $10.”
He loves the weather and living by water, and he’s enjoyed becoming integrated into Panamanian culture over the past few years. Still, he said he’s noticed a lot of Americans moving down to Panama who don’t adapt to the culture, noting that some have left recently citing cultural differences. He said Americans should understand that they’re guests in Panama and respect their neighbors, even if it means having to listen to loud music during a party.
“If you come down here to retire, it’s not going to be like back home, and you’re going to have to be flexible,” Stumpp said. “There’s some other old-timers here, and those are the ones that can adapt to life here, but there’s those that can’t.”
Have you recently left the United States for a new country? Have you recently moved to a new state? Reach out to this reporter at nsheidlower@businessinsider.com.
Grant’s Monday Night Forecast
A few evaporating rain showers are possible again Tuesday with warmer temperatures. Windier weather later this week will bring a high fire danger back to New Mexico.
It’s been a warm day with a few isolated showers and thunderstorms across central and northern New Mexico. Some of that rain has made it to the ground, while other showers have evaporated before reaching the surface. Temperatures have climbed into the 70s and 80s for most of the state. Showers will fade after sunset, with mostly clear skies overnight and mild temperatures.
Even warmer weather is on the way Tuesday with lighter winds. More areas will reach the 80s by the afternoon. A few spotty showers will develop again, especially near the mountains, with some of that rain evaporating before reaching the ground.
Winds pick up Wednesday afternoon, with gusts between 25 and 45 mph. This will begin another stretch of high fire danger across the state. The strongest winds arrive Thursday, with westerly gusts of 35 to 55 mph. That will expand the fire danger statewide. A dry cold front will move through Thursday as well, but temperatures will only drop slightly, ending up closer to average.
Breezy conditions continue Friday through the weekend as the jet stream pulls more moisture into New Mexico. That will bring increasing chances for rain and thunderstorms this weekend, with a few lingering into early next week.
New Mexico
Landlord AC ordinance, Rio Grande water levels, Spotty rain, New legislative office, New Mexico Motorfest
Monday’s Top Stories
Monday’s Five Facts
[1] ABQ City Councilor aims to bolster protections for renters amid unseasonable warmth – Albuquerque city councilor is looking to make sure city landlords are not only providing cooling systems, but also ensuring they actually work when they’re needed. City Councilor Tammy Fiebelkorn spearheaded an ordinance in December of 2024, requiring all Albuquerque rental properties to have a cooling system. Now, Fiebelkorn is taking it a step further, hoping to establish cooling system performance requirements. The ordinance is expected to be voted on in final action at Monday’s city council meeting.
[2] Rio Grande showing dry spots in Valencia County amid record-low snowpack – Portions of the Rio Grande are now seeing dry spots earlier than expected. Officials say the timing is not normal. In Valencia County, parts of the river are already running dry. Near the river crossing in Los Lunas, the river has open pockets. Further south, it is being reported as dry as well. There is a slight positive outlook for the monsoon season, with forecasters and officials predicting a strong season in the Middle Rio Grande Valley.
[3] Very spotty rainfall, warmer, & mostly calm week – Warmer weather will continue building in across the state throughout the upcoming week. A few isolated rain chances will return Monday in parts of New Mexico, but some of that rain may evaporate before reaching the ground. Temperatures will continue to increase through the middle of the week.
[4] NM representatives celebrate grand opening of new office with open house – A new state legislative office made its debut for representatives Eleanor Chavez and Yanira Gurrola. The new location is just one of the handful of new legislative offices now open across the state. They hosted a grand opening for the building that was open to the public. Representative Gurrola says it’s just one step towards modernizing the state’s legislature. The new office will allow residents to stay more connected to each representative.
[5] New Mexico Motorfest 2026 takes place in celebration of Route 66 Centennial – Another Route 66 celebration took place over the weekend and this one was all about cars. The New Mexico Motorfest happened at the Expo New Mexico racetrack. Over 300 vehicles from classic hot rods to lifted trucks were featured at the event. Some of the proceeds went to New Mexico veterans.
New Mexico
Los Alamos Public Schools Students Compete At 2026 New Mexico State Science & Engineering Fair
Students from Barranca Mesa Elementary, Mountain Elementary, Los Alamos Middle School, and Los Alamos High School at the 2026 New Mexico State Science & Engineering Fair at New Mexico Tech. Photo CourtesyLAPS
LAHS junior Tate Plohr and freshman Linus Plohr qualified to attend the 2026 Regeneron International Science and Engineering Fair in May in Phoenix, Ariz. Photo Courtesy LAPS
Los Alamos Middle School student Branden Keller was awarded the CO2 & Greenhouse Gas Scholarship in the amount of $2,000 at the 2026 New Mexico State Science & Engineering Fair. Photo Courtesy/LAPS
LAPS NEWS RELEASE
Twenty students from Barranca Mesa Elementary, Mountain Elementary, Los Alamos Middle School (LAMS) and Los Alamos High School (LAHS) competed, with several garnering awards at the 2026 New Mexico State Science and Engineering Fair held at New Mexico Tech in Socorro.
LAHS junior Tate Plohr qualified to attend the Regeneron International Science and Engineering Fair (ISEF) next month in Phoenix, Ariz. He was awarded the 3rd-place Grand Award. Freshman Linus Plohr qualified as an alternate and will also be attending the Regeneron ISEF.
Students who participated in the state competition include, from Barranca Mesa Elementary, Sydney Chen, Mary Beth Kelsey, Lily Neale, Aurora Roberts Voss and Henry Rodarte; and Glyn Lo and Ernest Maupin, Mountain Elementary.
Students from LAMS who competed include Evelyn Fobes, Mason Garcia, Andrew Gilbertson, James Junghans, Sequoya Ke, Brandon Keller, Nejan Liyanage and Daniel Yampolsky.
LAHS students Julia Neale, Linus Plohr, Tate Plohr, Lilia Veteva, Helena Welch and Kalliope Welch competed at the senior level.
2026 Award winners:
Category Awards – Junior Division
- Animal Science, Cellular & Molecular
- Biomedical & Health Science
- Honorable Mention: Sequoya Ke
- Embedded Systems, Math, Robotics, Software & Technology
- 2nd place: Nejan Liyanage
- Physics & Astronomy
- 1st place: Sydney Chen
- 2nd place: Mason Garcia
- Honorable Mention: Marybeth Kelsey
- Plant Science
Category Awards – Senior Division
- Behavioral & Social Science:
- Honorable Mention: Linus Plohr
- Earth & Environmental
- Honorable Mention: Lilia Viteva
- Embedded Systems, Math, Robotics, & System Software
- 3rd Place: Helena Welch and Kalliope Welch
- Physics & Astronomy
Grand Awards
- ISEF finalist 3rd place: Tate Plohr
- Brandon Keller received the CO2 & Greenhouse Gas Scholarship in the amount of $2,000. James Jungans and Marybeth Kelsey garnered Thermo Fisher Awards.
Other special award winners include:
- CO2 & Greenhouse Reduction Awards (Junior Division)
- Daniel Yampolsky, 2nd place, Earth & Environmental Sciences
- Sequoya Ke, 1st place, Biomedical & Health Science
- Brandon Keller, 1st place, Energy & Materials Science
- Andrew Gilbertson, 1st place, Physics & Astronomy
- CO2 & Greenhouse Gas Reduction Award (Senior Division)
- Lilia Viteva, 1st place, Earth & Environmental Sciences
- Office of Naval Research Award
- David Shortess Award
- New Mexico AVS Award
- Citadel Award
- Naval Research Award
- NM Network for Women in Science & Engineering Award
- Yale Science & Engineering Award
- Rose Baca Rivet Award
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