I have a $20K passive income of and living expenses of $10K. My hobbies are really cheap and centered around building skills. Programming / construction / sports. I do miss my friends in SF though. That's the biggest downside. I've been trying to encourage more to come down.
It's per year. Panama is more expensive than many areas of the US but the lifestyle is subjectively better. Plus you don't go broke trying to pay for medical coverage or treatment. And there is no tax on foreign sources of income.