Expat Community > Panama

Alameda
Joined 2020
Posts: 33

My Panama Experience

4 years ago

This is my first post on the Forum.

We spend 3-4 months a year in PTY- and the rest in the USA where we work and earn our pay. PTY is a vacation destination now; and, it will be the place where we retire in 12-15 years. I am a permanent resident of PTY. My wife is native born. We met in the U.S.

Each year I bring 20 of my MBA students to PTY (not 2020, of course) for a 2-week experience across the country to learn about the people and business culture. For each student, it is a highlight of their graduate program.

As one who has been coming to PTY for more than 25 years, I have seen all kinds of changes over the years.

One of the biggest is the surge in U.S. retirees coming into the country after the transition.

Having met many of these folks, I speak in broad generalities when I say:

- If you want to do "cheap", stay away from PTY. Anything near to U.S. standards will cost U.S. prices. Real estate, grocery store, ultilities, etc. are about the same as the Midwest. If you are from the Coasts it will be cheaper.

- If you don't speak Spanish well- and that doesn't mean you took 2 years in high school two decades ago- stay away. Speaking only English - or, more dangerously, understanding merely 50% of the Spanish you hear- puts you at a terrible disadvantage. Why would anyone do that and expect nothing but a negative outcome?

- The Panamanian people respect Americans and realize the American-built infrastructure (water, sanitation), Canal, and Dollar are what separate them from the basket cases in their neighborhood.

- Panamanians are deservedly proud of their country and patriotic to the core. Nationalism is huge. Take a knee during the national anthem and you will get a beating.

- Latin culture is not generally service-oriented, unless you pay extra. A little more to the Uber driver, waiter, contractor, etc.. This gets you an incredible return on investment.

- Panamanians love to dance, drink, and party. You can't fully partake if you don't speak the language well.

- Finally, most of the expats I have met are burnouts. They are usually a little broken and escaping from something. Not bad people. Just looking for a "greener grass" somewhere else.

In addition to our life in the U.S. we have a small home in a PTY suburb, belong to the Club De Golf, Club Union, and keep a race horse at San Isidro. We are able to do all of this on two upper-middle class salaries in the U.S.

We only hang out with Panamanians and. like all people, they run the spectrum.

We would never even consider Florida.

PTY is the place for us.

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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Expat Community > Panama

My Panama Experience

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