My new system up and running!

[Sunking]

Hey, what part of the area you in. I would love to have lunch sometime.

Prosper area just north of Frisco off 289 aka Preston Rd. Hopefully have a new address before too long less crowded area south of there in Panama.

[t5800512]

Yea, I saw a thread in which you were talking about moving to Panama. We are talking about the Republic of Panama in South America?

Why would you move there?

[SunEagle]

Yea, I saw a thread in which you were talking about moving to Panama. We are talking about the Republic of Panama in South America?

Why would you move there?

He's running away from his 4 x wife's. Only kidding Sunking.

I am actually a little jealous that you can relocate to a place like that.

[inetdog]

He's running away from his 4 x wife's. Only kidding Sunking.

I am actually a little jealous that you can relocate to a place like that.

I think that taxes and government regulation play a large role. In that respect parts of South America are a natural next step after Texas.

[Sunking]

Why would you move there?

Yes Panama as in South America. Orignally bought land in Costa Rica bu tthings between me and the government did not work out. Great for my wife because she is a doctor, but not fo rme as they have some very strange requirments on Ex-Pats about working. They think I would have took a Tico job so it means I cannot work there. Do not need to work, bu tI have to have something more to do than play golf and grow veggies.

Panama on the other hand is very simular where we bought land. Up in elevation so weather is basically mid spring year round, no hurricanes or tornadoes, lots of work, tax free for Ex-Pats, great golf, scenery, modern cities extremely friendly people, great growing economy (They use the USD), high standard of living, bullet proof from military conflict, low cost of living, inexpensive real-estate, low crime rate, strong conservative family values, and on and on. Basically about where the USA was in the 50's. Both wife and I have part time careers waiting there for us if we choose to work or not. Skilled labor and professionals are welcomed with open arms. Will have lots of company there as there are a lot of Ex-Pats there.

If there were ever a 52nd state it is Panama right behind Puerto Rico without the Fed ruining everything.

[t5800512]

Nice sales job. Now you have me wanting to move there. But alas, to much real estate to just pack up and move.

I have never been to Panama, even on a cruise. I bet it is hot there, unless you can get some elevation. Do you need to get a visa to stay there?

[Sunking]

I have never been to Panama, even on a cruise. I bet it is hot there, unless you can get some elevation.

Well fact is it is cooler than Dallas Summer as 100+ degrees are unheard of. Of course the kicker is the humidity near the coastal regions. There it is much like Houston or Corpus Christi hot and sticky year round. Good thing is they practically give electricity away so you can keep the house at meat locker temps. Inland and above 2000 feet year round 80's daytime highs and 60's night lows. They only have two seasons of To Dang Much Rain and Less Rain. At 8 degree latitude solar insolation is excellent but not popular there as electricity is abundant and dirt cheap. The country has more hydro electric power than they know what to do with and the USA and every country in the world pays for all of it. Good thing if any country were to try to take it away, every free country Navy and Army forces would be here in a New York minute to throw the SOB's out. No one would dare invade Panama. Even China and Russia would come to the rescue to keep the canal open.

Do you need to get a visa to stay there?

There are a lot of ways to get in and depends on what country you are coming from. If you are a USA citizen all you need is a passport. Once there you apply for a tourist permit which is good for 90 days. After 90 days you leave and go to Costa Rica for 72 hours and come back. As for me and my wife since we bought land makes us automatically qualified for permanent residency. So if you are a USA citizen it is a piece of cake. Getting a work permit can be tricky, but if you are a resident no problem. Others seek employment with an International Company like Bechtel. CAT, IH, or Babcox & Wilcox to work on the new canal, highway, or hydro electric projects. So if you are a professional like an engineer or doctor it is easy to come here and find work. Even skilled labor is needed. Or you can always dump the wife and marry a local girl. . Lastly is being a rich pensioner and can prove solvency and invest in the loacl banking and businesses.

But best of all as a Ex-Pat working here you can make up to $160K/year fully tax free, and they do not count whatever pay from the states you might receive. A married couple can live quite nicely on $40K/year down there in a nice 2 or 3 bedroom house on an acre. Great place to retire and even better place to retire young. Heck they even get USA TV stations piped in so you do not have to miss your favorite sports team or soap opera. Most even speak English. Converting money is no problem as it is the USD there already. I was not kidding when I said it is the 52nd state.

The only downside and this holds true in all of South America is the pace of life is real laid back and in no hurry. Some have a problem with slowing down. Example you might hire a local to paint your house and he says he will be there tomorrow for a 1-day job. He shows up two weeks later and takes a week to get the job done. Driving can also be problematic in smaller towns as there is no traffic controls in place other than speed limits which are not posted.

[t5800512]

Okay, sign me up. Sounds to good to be true. Everything but the humidity, which I have a really hard time dealing with.

What about access to good healthcare? As I get older, that is becoming more important. And now expensive is it to purchase property? Since that sounds like the way to go.

This is all very interesting. Thank you for sharing.

[Sunking]

What about access to good healthcare? As I get older, that is becoming more important.

Diffidently something to be concerned with. Short Story is if you are in poor health, don't bother.

OK Panama has two healthcare systems. One is Obama Care style public for the poor and is not so great. It is not available to Ex-Pats and tourist so no point in discussing it further.

Private medical care is as good or better than the USA and the insurance cost and premiums are much less expensive as they do not have the BS Red Tape, malpractice, and crushing regulations the USA has. That is why my wife sold her practice and quit, wanting to leave the USA so she can practice. The only downside most of the private sector is in Panama City and David. Out in the surrounding country side a bit of hit and miss. Keep in mind Pnama is just getting ramped up and expanding so it improves year to year as the country develops. About like the USA in th e50's where rural medical care lacked and city was excellent. Doctors are mostly educated in USA, Cuba, Mexico, and some China all top notch countries for medical. Some Ex-Pats keep US citizenship just in case they need special medical care. Others go to Cuba or Mexico city for the really serious stuff. Just like anywhere, money talks when it comes to medical care, even in Cuba. So like I said if you are in poor or failing health, stay home, they will not let you in the country.

I know it sounds cruel, but good policy none the less they do not let poor or unhealthy Ex-Pats in th ecountry to be a drain on the system. You must have the financial means, be productive, and in relative good health to live there unless you have a lot of money so no matter what happens you pay for it.

And now expensive is it to purchase property? Since that sounds like the way to go.

I assume you mean how expensive. With the exception of beach front and tourist areas, real cheap. About half of DFW area and DFW are is inexpensive compared to other cities like LA an NYC. For example in DFW a nice 3-4 bedroom 2200/ft2 in a nice neighborhood goes for about $200K right, or 300 in Frisco/Plano area. In Panama like property $100 to $110K with a good sized lot. Cost of living is real reasonable (about 25% less than DFW for staple items like grocery, entertainment, restaurants etc... You can even get most American products but at a premium although that is changing as US companies open shop there and in Costa Rica. Fo rexample Coca-Cola. Pepsi, Gellette, Proctor and Gamble are in th earea so those products reflect local prices. If you drink Budweiser about $2/bottle ,but $.75/bottle local brews. So to sum it up I estimate total cost of living to be about half of what pay now.

If you retire, sell your home, and buy here you can live of the profits of your home sale especially if you downsize and live confortable even if all you have is US SS benfits. With a paid for house you can live a decent life on $20K/year, good life $40K, and like a king over $40K. Renters need a bit more as rentals for a 2-bed condo run around $600 to $900/month. Further you get away from Panama City the cheaper it gets but you do give up city amenities doing so but just a matter of time before it arrives.

[russ]

But best of all as a Ex-Pat working here you can make up to $160K/year fully tax free, and they do not count whatever pay from the states you might receive.

The US still counts your worldwide income for tax purposes (if you maintain US citizenship) though local taxes can offset US taxes. Social Security tax (FICA) is still payable to the US.

[Sunking]

The US still counts your worldwide income for tax purposes (if you maintain US citizenship) though local taxes can offset US taxes. Social Security tax (FICA) is still payable to the US.

True if you keep you citizenship.

[t5800512]

Very interesting. Thank you for taking the time to tell me about Panama. I'm going to try to plan a vacation there some time in the coming year to check it out.

[SunEagle]

Very interesting. Thank you for taking the time to tell me about Panama. I'm going to try to plan a vacation there some time in the coming year to check it out.

Don't forget to ask for Sunking's new address. I'm sure he won't mind someone from Tx dropping in.