I did this in Panama. They use the US dollar, but cost of living is not that low. Food actually cost more, with the exception of locally produced things. It can

I did this in Panama. They use the US dollar, but cost of living is not that low. Food actually cost more, with the exception of locally produced things. It can work out well. I did it tax free too, but it is a lot more complex for US citizens. Although I think you only have taxes on income above $100,000 a year outside of the country, but I'm not an accountant, so take that with some salt.