Michael,
Panama is a really easy place for Americans to live. There are loads of ex-pats here (American and others), there are social groups and websites setup to help each other and you can get a 3-month visitors visa without any problems. And Panama uses the US Dollar, making it really simple.

I can give you info if you are interested in moving here, including all websites, contact names for good lawyers and realty agents, info, etc.

I always encourage people to live abroad, it offers a wonderful experience and gives you a very different point of view than just doing a 2-week holiday.

ps - I am an Australian, not an American