Expat Life: 15 Years in Panama || El Podcast EP45
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- čas přidán 21. 07. 2024
- Doug Mannell, a Canadian expat in Panama since 2008, shares a wealth of experiences and insights. From the allure of Panama's warm beaches to the intricacies of healthcare and language barriers, Doug provides a comprehensive view of expat life. He emphasizes the importance of cautious decision-making, cultural adaptation, and personal connections in crafting a fulfilling expat experience. Additionally, Doug delves into investment opportunities, health regimens, and his perspective on navigating the dynamic times of 2023. His wisdom serves as a guide for those considering retirement or expat life abroad.
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CHAPTERS
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00:00 Intro
00:28 Panama vs. Costa Rica
05:36 How Far Your Dollar Goes in Panama
07:43 Navigating Healthcare Abroad: A Canadian Expat's Perspective
10:04 The Expat Experience in Panama
13:31 Comparing Expat Life: Florida vs. Latin America
18:06 The Language Divide
22:22 Home Invasion Experiences
24:18 Booming Business: Meeting the Demands of Active Retirees
25:37 Healthy Aging
30:54 Retirement Realities: Cost of Living in Panama vs. Home Country
35:40 Would you still move to Panama if doing over?
37:28 The Great Reset: Anticipating Financial Transformations Worldwide & AI
Special Thanks to Doug Mannell
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#ExpatLife #PanamaAdventures #RetireAbroad #HealthandWellness #LanguageLearning #BudgetFriendlyLiving #InvestingAbroad #PanamaDreams #CommunityConnections #GlobalCitizen #TravelAndExplore #CulturalAdaptation #FinancialInsights #LifeAbroad #EconomicTrends #SunnyShores #LanguageBarrier #SafetyFirst #PanamaLiving #NavigatingChange
I have lived in Panama for the past 23 years. I was married to a Panamanian for 10 years and she never spoke one word of English to me. As a result I am very fluent in Spanish which makes an enormous difference to me. Hardly any of my friends can speak English so I have pretty much become assimulated into the culture here. I haven't been back to the US for over 10 years. I probably will never go back. If I did I would probably suffer cultural shock.
Well put. I've been in Panama 12 years and I really don't get what ppl are doing/buying when they say Panama is as expensive as the US. There is no way I could go back to Florida and have anywhere near half the lifestyle I enjoy in Panama
Great interview. Thank you.
That felow is articulate and with lots of practical common sense information to share.
We agree!
First off, having lived within 40 miles from Mexico for 17 years, couldn't pay me to move to Mexico.
I agree with him about opportunities, they are abundant if one keeps up with things happening in different areas. Even in the US, the fastest growing state is Idaho, with Montana being second I think.
Buying farm land in Paraguay was a thing last time I checked. I think Guyana is having a oil boom right now. Thanks to the Internet keeping up with what might be happening is easier even for those of us who are not connected to the ones who run the world.
Keep the great content coming.
Utah is first. Idaho 2nd. Texas 3rd followed by ND, NV, and CO in 2023.
So far, the best video on living in Panama on youtube.
I can not imagine having a long terms plan, for a specific country, without learning a language.
You can survive 8n Panama but why? You are missing out on so much
I enjoyed this video and Doug’s perceptive of Panama 🇵🇦 (and social media conversation so true and spot on 🎯)Panama is on my radar for retirement in next seven years. Thanks for sharing
I agree ❤
Finally!! Someone being honest about what expats should expect. I'm guessing this guy has nothing to gain by selling Panama as some inexpensive paradise. This will be my new go-to for folks that ask about living in Panama as an expat.
Wow! Hold it right there. He lives since 2008 in Panama and has no clue about renting costs? Living expenses? Surely he has enough money that this topics are not on his radar. I live close by Coronado, Panama Oeste. I’m renting a 2 bedroom Panamanian style house in a local neighborhood for $350 a month. Living expenses without renting? He mentioned $2,000-$2,500 monthly. He can’t be serious or he doesn’t eat at home at all! Panamanians earn outside of Panama City around $650-$800 a month and feed a whole family. I know North American expats. And Panamanians love them! Why? Example when I had a talk with a friend of mine, who moved from NY to Panama: I asked him, why he is paying $1,800 rent for a small 3 bedroom apartment. Answer? “Do you know how much it would cost in NY?” I responded: Surprise, surprise. You aren’t anymore in the USA! When his lease was up, he did what I asked him to do. Asking the security guys in the building if they knew what was available. - He still lives in the same building, bigger apartment, fully furnished- for $800 a month. One advice. Don’t run to realtors in Panama. They always take advantage of foreigners. - If you a normal, grounded person, you can easily live on $1,000 a month if you don’t rent. Including renting? $1,500 for two people. And I only live 4 years here. Watch your money. You don’t have to spend much more than local people! - Hospital: I had a work related accident in Canada. I didn’t get any X-rays or MIR done in the hospital. Needed 41 stitches to stop my bleeding in my left hand & arm. Walked over 2 years around with so much pain. Finally a doctor recommended to get some X-rays to figure out after 2 years what was going on. I walked around with 2 broken shoulders for 2 years! My left hand is practically unusable because of the wrong treatment in a Canadian hospital. So I think Panama can’t be worse than Canada. - Food: Listen. Nobody needs meat every day. Look to Europe. People smoke cigars, drink wine - and live over 90 years. In Canada, people are scared to use salt. Even animals do know that they need salt. - Properties in Panama are overpriced! Especially when North Americans are involved. - I was one time told from a person who did own 6 beach lots in a small community: “I never would sell you a lot.” I asked if I insulted him. “No. No worries. The thing is, you use your head and Americans just use their cheque book…” So many houses bought by American just fall apart because all of the just moved back to the USA. And because they paid 3 times the value of the property l they can’t sell it at all.
You should offer your services to help people relocate.
You could probably make a reasonable living without having to rip people off.
@@PeteH0121 I wish I was a businessman. But I am not. When I lived in Canada, friends, neighbors and their friends, called me up asking if I could help them getting a deal. I was okay with that. From clothes, to furniture and even twice, brand new cars. Women took me to shop clothes and I really hated it. Why? We guys go into a store, try it on and buy it. 5-10 minutes and on the way home. Women? OMG! I am sure all men can sing a song about it. - In Panama, my girlfriend asked me a couple times: Are you sure that you are not gay? How come you have such a good taste in women shoes and clothes? I tried to explain it to her. She still wonders. Just last month, she told friends: You need high heels? Go with Holger. In 2 minutes he has the cheapest, best looking shoes in the store and even your size….. I just walked away to get another beer. - Now I’m building my own house. Lot owners coming to check on their lot. Chatting with my girlfriend. She just thinks about $$$$$$. “They like your design. They asking if you could build their house….” You see. I did draw my house on a paper. Put it somehow in the computer to print it out. If you stay under 80m2 on construction area, you don’t need an architect. So my main level is 78m2. The second level comes later when we moved in. You know. Panamanian style. “You start small to safe money. No architect, no electrician needed. Later you make it bigger….” That’s how Panamanian neighbors explained it to me. I pass by a “little house” every time I go to my lot. It was like a very small 1 room house what is common in Panama. Where a small kitchen and a bed fits in. Well. They attached another room 2 months ago. Just started with the 3rd one. That’s when I smile and think about my neighbors advice. - Buying materials is another thing here. My Spanish isn’t good but I am getting around. The 6” blocks cost in the supply markets $0.95 each plus tax. But they get it from the factory. If you build a 80-90m2 house, you need around 1,500 blocks. The factory is selling them for $0.69 each if you buy at least 960 (10 pallets of 96 each). That is saving around $350 only on the blocks! - Well. I could go on and on… If you asked me what I earned in Canada to help people? Sometimes a cup of coffee and sometimes just a thank you. Who needs more?
@@holgermessner851 Ha ha. Well ideally you need to bump into somebody who has your willingness to help but who has an aptitude/liking for the business side of things rather than the analytical/practical/logical things.
The difficulty is that most people with a "business" mindset are just too greedy and so they aren't happy to just make a comfortable living, they always want to keep expanding and charging as much as they can get away with.
To you, I guess that would take away all the fun of "helping out".
Of course, you might simply be too busy to take on the problems of other people anyway!
It's great to help out but the bigger the project, the more important it is that you get something back for your time and expertise - even if that is just some help in another area which is perhaps not your forte.
Anyway, good luck with the build!!
I agree with your comment that it is possible to live on less than $1500 per month, but you have to consider who is likely to watch this video and what their quality of life and expectations will likely be. Most new expats are going to live in the bubbles (Punta Pacifico, Ave Balboa, Coronado, Boquete) which tend to be more expensive and $2000+ per month is more in line with that. I first lived in a $150 month apartment with my Panamanian wife, but it was not a place typical expats are going to live. As a matter of fact, I was the only gringo in that neighborhood. You and I are outliers. I try to make that clear and explain the differences to those that ask me about living in Panama.
@@robertc4293 For everyone who wants to live like in their home country - moving away from home would be the wrong decision. I see it close to every day. Expats complaining that “this wouldn’t happen at home”. Surprise, surprise. You are in a different country. And yes. In our street, I am the only German. But 2 streets away, a German couple (they never greet or respond to my greetings when they walk by ) 4 streets in the other direction a lot of North Americans. And as we all do know, the sky is the limit. The house I am renting right know could be transferred to the 1950’s in Europe. All is basic and only one water line. Hot water on sunny days at around noon. ;-) No AC! I had as a kid bronchitis. I can’t have AC running. So it is perfect for my needs. It is the same here in Panama with the real estate market. You can throw out your money for houses if you like. I did look around for a smaller house. 50m2 for $130,000 and up with the stucco falling off already. Build with 2 inch prefabricated concrete walls or 4 inch hollow blocks. I am building a 150m2 house myself with 6 inch hollow blocks. The lot has 520m2 and is on the “none beach site” of the highway, 5 minutes away from Coronado. With the lot, house & pool, it’s calculated at $50,000. And yes. Not everyone can build his own house.
Your prefered life style will dictate how much you spend in any country. Panama has areas that will cost you a pretty penny. You have to be willing to adjust your lifestyke to your financial situation.
Fanastic conversation! Thank you. Times are changing - hopefully.
This was very informative with great questions and answers. I too have decided to eat less meat and stop drinking alcohol. I have lost weight and feel better. I am retired but work a couple of days a week for a few hours in a friends's large vegetable garden. I get exercise, fresh air, and all the vegetables I can eat. I can also socialize with my friend and a few other volunteers there. I live in Japan where the cost of living and taxes are quite high. Living in Panamá is kind of a fantasy that bounces around my head from time to time.
Great talk.
Great podcast!!!
I knew that was Puerto Rico 🇵🇷 behind you!great pic.
Looks like many places in Panama to me.
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Oh, my! Wisconsin sounds like a cheap place to live.
Two dogs cost money, without it is an insecure place it seems.
Good talk but after living in Panama all that time, it bothers me that he cannot say “Costa Rica”. I believe he was informative in many ways though. Just please, learn to pronounce the beautiful words in Spanish, not English.
The host of this place is really a "Simple Dude" wont come back, really negative place....