The other afternoon while resting on a shaded patio at a great little Italian restaurant, I happened to meet Roberto Duran, the hall of fame, former boxer and multiple world title holder. He shook my hand and smiled, and we exchanged a few words. I'm a fan so you had to see the look on my face to get the value of the moment.

Panama exudes a tone of calm determination to prosper. Recently, in 1999, when the Americans largely withdrew, there was an economic fallout that caused some serious difficulties for the average Panamanian. They simply began showing the world that they, not their neighbors were the "real" Switzerland of the region. Welcoming visitors and passing laws that encourage relocation. Eliminating taxes on foreign sourced income, installing world class healthcare, education and banking, and finally banning the military forever, are some of the steps that have made this little country the prize that it is.

For that past number of years, five or six for sure, International Living has found Panama to be the best place in the world to retire, for the reasons I have just explained. What is interesting to consider is the sub-set of families looking to buy a home in my "neck of the woods" in Canada and compare that sub-set to the group of families who are looking at buying a home in Panama. What with the "baby boomers" retiring in greater and greater numbers everyday planet wide, and the people looking for a better plan that are currently living in Columbia with all it's problems or Venezuela more recently with it's set of struggles, not to mention the people leaving Costa Rica in droves, things are booming in Panama.

A year ago I could have purchased a condo on the seventh floor of a ten floor building, that's the whole floor over 2500 sq. ft. of space for $100k. Today that same sort of place is going for $130k to $140k. Meanwhile new construction is springing up like mushrooms as the demand simply can't be contained. I have been out looking at retirement homes and condos, and have lots to report. First let me tell you about finding a place where ocean front land on the Pacific coast of Panama can be purchased for pennies. Last Saturday I drove about 3 hours up the Pan American highway to Santiago and then turned left down the peninsula that makes up Veraguas province. My guide Daniel de la Guardia explained that he had really never been down this road and didn't know many people who had; perhaps you could drive right off the edge. This is a province of Panama that is uncharacteristically arid, but prosperous as the roads were great and everywhere there were cattle in great numbers grazing on the lush pastureland. The view from the highlands was spectacular, and there was the prize, miles and miles of undeveloped beachfront.

There was no evidence of subdivisions or land development at all as we worked out way to the end of the road some 40 miles down the peninsula, just opportunity to buy undeveloped land and make a project of your own, mile after mile down this smooth winding road. It made me think of the road on the west coast of California 50 years ago or more; when the road would have been nice and the view unobstructed. It screamed for a Porsche, with the top down.

Back in the city I have been looking at buying a condo for retirement purposes and have seen a couple just the other morning that ran around 140 mt2 at around $135k. there are an abundant number of interesting possibilities in the various neighborhoods. Some of the properties are newer and some older and in need of renovations but in spectacular locations. It is all about making up your mind that you have found something you could buy and enjoy. We made a couple of offers last year on interesting spots and missed them because although we had found a deal, we hadn't moved quickly enough, allowing someone else to jump on it when they saw it. That says it all for me because it has happened again. This opportunity is a 14th floor condo, three bedrooms, a balcony, 145 square meters, with a fantastic view of the old city and the entrance to the canal right in the core of the restaurant and banking district, all for $115k. Should have jumped on it, 'cause it sold out from under us too. I think I'm loaded for bear now though, I have made my mind up that I will not be coming home empty handed. "I comes here to see a high diving act and I'se agonna see a high diving act, if'n it kills me".

Yah, Panama is really a great idea for the person who would like to look at making "more from their less". The other afternoon we went to an Orthodontist, for a final consultation about braces for my 13 year old son. The U.S. trained specialist said if it were his son he'd wait for a year, but yes we can take care of the problem and it will cost for the complete treatment over an 18 month period, $2200. I was confident that they were professional and skilled but I did have the view in the back of my mind that they would like more business if they could get it. I could hardly have been further from the truth.

My wife and I subsequently went to the "John Hopkins Medical Center", a brand new hospital facility within walking distance of our condo, to see about a comprehensive physical exam. We met a young internist, Dr. M. Gonzalez. He explained in perfect English, that this new hospital complex had as yet not received it's full certification. It had to be operating for two years before it could qualify but that they had an executive program for providing service to people with insurance or the means to pay for first world care, that would be able to provide us with a thorough exam all in one day complete with lab work ups, x-rays and any other exams that are deemed necessary. What a beautiful facility and what a service.

So let's review; the climate is wonderful, there is monetary stability in the US dollar, medical care is second to none, lifestyle costs are about 30% of Canada, and there is no tax. Now the truth is the city is busting at the seams with all the growth in commerce and residential construction, but the restaurants are fabulous and cheap and the people are genuinely friendly and welcoming, they are aware that they have built something the world is seeking, and "They will come Jack, they most certainly will come". Are they ever coming!

So can the average Canadian move here and live? Can they buy a home in this friendly modern city, for half what their home in Canada sells for, and find a pleasant way to tough it out through the winter? Is it possible to catch the satellite TV coverage of "Hockey Night in Canada", and make it in shorts through January, February and March? The devil is always in the details, but be assured you won't be the first here, if you give it a try. Happy Valentines!

For more information about lifestyle changes and living abroad, see www.wealthmanagementcanada.com