5 Years Living in Panama an Expat Experience.

An Expat Experience After 5 Years.

It now seems like ages ago since I made the move to Panama. It seems like even a longer time since I worked as an employee living paycheck to paycheck. Moving to Panama was the best decision I have ever made! 5 years later my wife and I have a thriving business, great friends and opportunity knocking on our door weekly.

Panama itself has been under the microscope over the last few months for something that is totally legal in this country. The rest of the world looks at the accomplishments of this tiny country in such a short period and I imagine the bureaucrats are feeling envy. The smart money around the world is moving to safer shores. Those who do not examine history ignore the fact that this is the case for centuries.

The Not so Good About Living in Panama This Year.

This year has brought many surprises around the globe and Panama is in the crosshair. The Panama Papers hurt this countries reputation but I am not worried. What is more worrying is that US PetroDollar is under attack and is barely limping along. The moves that the US Federal Reserve makes in the coming months will have a huge impact on Panama and the rest of the world. For those that do not know, Panama's currency is the Balboa but the Dollar is what is used for day to day transactions and banking. The easy credit that Panama has seen for the last decade could dry up unexpectedly (Expected by Me) and cause a short term hardship for this country. It seems every Panamanian I know is in debt up to their eyeballs. This will also have a side effect of lost jobs which will add more pressure to the job market and households.

I believe Panama with its roots as the crossroads of the world will have many options to stabilize its economy if a large Dollar event was to occur. My friends in the Gold, Silver and Bitcoin communities have asked me a myriad of times if I was nervous about living in a country that uses the Dollar. It does not bother me one bit since I know that the money of Panama is the Balboa and the country could quickly peg the Balboa to an alternative currency. Personally we have built a business that is not Dollar dependent. This gives us peace of mind. I worry for those who rely on social security and fixed payments. Make sure you have Gold, Silver and Bitcoin.

The Zika Virus scare! To this day I am scratching my head in wonder. This widespread media scare has done more damage to Central America than any virus could have done. Anyone who lives here knows that Dengue is the one you have to worry about. If you protect yourself from Dengue you will also be protecting yourself from Zika.

The Good About Living in Panama This Year.

Yes, there is plenty of positive in Panama! This tiny little country is making moves that will solidify it as a long term player in world trade. In just a few weeks the whole world will have its eyes on the newly expanded Panama Canal opening. Anabell and I drive by the Panama Canal every day keeping tabs on the Panama Canal expansion and it appears that they are wrapping up the final tests. With the slow down in the world economy and especially in China I don't think we have to worry about the Nicaragua canal anytime soon.

The construction of the 2nd line of the Panama Metro has begun and a Japanese company has been selected to build the 3rd line across the Panama Canal to serve our area of Arraijan and Chorrera. This has personal significance for us since the biggest headache we face on this side of the bridge is the insane traffic in the am entering the city and the traffic heading home from 3pm until 9pm. The 3rd line will greatly improve our life if we are still going to the city to meet with clients in a few years. These are the kinds of infrastructure projects that can change economies for the better. We use the Panama Metro line 1 every day and let me tell you that it has made my expat experience amazing. We park at Albrook Mall and take the Metro into the heart of the city. Our clients office is in Obarrio so the Via Argentina stop is perfect.

 

Panama once again has made many lists as the top retirement location in the world. It also made lists claiming the Panamanian people are one of the happiest on earth. Life in Panama is modernizing at an incredible clip. Some things that have frustrated me for years are slowly updating. For example banking online is finally becoming more common. Internet speeds are increasing and availability of reliable and fast wireless service is becoming more widespread. This will greatly enhance the life of the people who live in the metro areas. Thanks to independent internet providers like Panetma even expats who live in rural areas can have fast and reliable internet service.

How My Expat Experience in Panama has Improved.

The one aspect that Anabell and I have noticed a difference is our cost of living. This may seem like an odd thing to say but our general costs have decreased in 2016. Fuel prices are down and house rental prices are down on our side of the bridge of the Americas. We all know the reason why gas prices have fallen but the home prices might need some explaining. We live in Nuevo Arraijan about 30 minutes (No Traffic) from Panama City. This area has seen a massive amount of new construction over the last five years. Just three years ago it was a sellers market because there were very few developments. Now many are coming online which is pushing the rental prices lower. Our rent just dropped from $500 to $450 and we moved into a gated community. On the other hand food costs seem to still be rising so does electricity. We pay about $25 a month for electricity and we are rarely home. In the past we paid $20 and we were home all day. So all in all if we did not have to travel to the city every day we could easily live off of $1500 a month.

One aspect of my expat experience that is also improving is customer service. I begrudgingly admit that this one huge black spot on Panama's reputation is slowly improving. Some say it is because there is a huge influx of Venezuelans and Colombians. This may be partly true but it is amazing what happens to the human psyche when we feel threatened, we up our game. When you are working at a restaurant and your co-workers are doing and amazing job you will tend to want to perform just as good or risk being jobless. This is even trickling down to the fast food restaurants and stores.

What is Happening in Our Life in 2016.

So far this year has been our breakout year. We had been moving right along at a comfortable clip for a long time but the amount of growth in our business has accelerated greatly this year. We landed a few dream clients and are rolling out $200 Social. We are currently building an All Star team of social media and marketing folks to help us grow our company.

We have long been a marketing team for the Gold, Silver and investing community but this year we are breaking into the world of Bitcoin and Crypto-Currencies. I have quickly gone from an unknown in the world of Crypto-Currencies to one of the top online Influencers. It is amazing what happens when you hang out with some of the best Crypto-Currency people in the world like Ira Miller of Deginner and Jeff Berwick of The Dollar Vigilante. If you are not following these guys I suggest you start now. I recommend signing up for Jeff's newsletter. His perspective on the markets might change how you trade.

Earlier this year Ira Miller invited Anabell and I out for a beer and ever since then my mind has not stopped! The possibilities of Bitcoin and Crypto-Currencies boggles the mind. I currently have three very large projects I am working on that will dwarf the other projects we have worked on in the past. If you are not investing in Bitcoin, what are you waiting for? Contact me if you want to get started. We charge $1000 to get you all up and running and trading within a few hours. If you can't meet in person we can do it through Skype and emails.

I also became involved with The Founders Institute Panama in 2016. Ira Miller is the Panama director for The Founders Institute. I function as a mentor for Sales and Marketing. This semester we have 12 incredible startups that we are helping bring to market. This is an exciting time for all involved.

 

What is Happening for the Rest of this Year?

• We are planning a full scale launch of our $200 Social Media product. We have set a goal of 100 clients for this product by the end of the year. This social media marketing product is available worldwide. If you need help promoting your business or brand contact us.
• We will continue our association with The Founders Institute.
• Our ties to the Crypto-Currency world will expand as we add a Bitcoin and Dash ATM to our clients office in Obarrio. We will be teaching companies and investors how to leverage Bitcoin and Dash. Bitcoin consulting available.
• We will continue to do marketing for the Gold and Silver investing community. We believe this is a great time to buy precious metals for your portfolio. If you want to buy Gold here in Panama we are your team. Feel free to send me a private message.
• We are stepping back from the tourism industry and will not be spending time on VIP Panama Tours. We made so many great friends but it is a time intensive business that takes away from our core business of marketing. If anyone is interested in buying the brand feel free to contact me. It has a substantial footprint on the internet. We will be happy to discuss marketing the brand for any interested parties.

Have an Amazing Day!

 

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