The Panamanian lifestyle is much healthier than that of the United States. People here eat more fresh fruits and vegetables and less fast food. The food here also comes with fewer preservatives and E numbers. Panamanian fast food does exist, but it's usually rice, meat and lentils.
Significant economic and social inequalities persist, and the majority of Panamanians living in isolated rural areas are still poor and have traditional lifestyles. In general, the cost of living in Panama may be much lower than in your home country, but it all depends on your lifestyle and expectations. This attitude can be one of the most frustrating things expatriates get used to, until they have acclimated to a slower lifestyle.