We all know that there are places where it is repressively poor and that a person from the first world could go, and live with lots of servants, if you had the money. It's an overly simplistic view of the world of course, but natural enough to think that way until you learn the truth about a place. When I would talk to people about Panama that was the look I would get often enough; "Why would you want to pick Panama?" The truth about Panama is that it is a vibrant and modern city and country bursting with opportunity. Sure there are some of the struggles that go with a rapidly growing economy, but there is wealth, and vitality of free enterprise all around. There is some evidence of poverty, but what really strikes an observer is the hugely prosperous "middle class", hurrying to and fro, spending money as the economy screams along. Every shopping mall, or grocery store is crowded with eager customers buying up the wares, and service providers are advertising their special products on every corner. Restaurants and sports bars, casinos and car dealerships, all seem to be making money at a fever pace. I have never seen so many new Mercedes, or BMW's not to mention the Porsche, and Mazeratti.

On another front, there must be 30 cranes evident from the windows of our condo, as the building boom accelerates. It is said that there are people finally discovering the wonders of Panama, and coming here from around the world in greater and greater numbers. There are even charter flights coming in from Helsinki, Finland, promoting property and lifestyle opportunities to those northern Europeans. Columbians, Venezuelans and Costa Ricans are adding to the demand for housing as they join the numbers from Canada and the US, buying properties here. Foreign investment is driving the prices higher daily, and the real estate market is said to be heating up. To be fair though if you were to buy a large luxury condo in a modern beach front city, what would you expect to pay? In California, it would cost several million dollars and in South Florida something the same, or in the Mediterranean maybe multiples of that. Here in Panama you can spend a million for the top floor of a new sky scraper, complete with private pool and heliport, its true, but a typical 2500 sq.ft. Condo 25 floors up overlooking the city can be bought for $250k.

The client, who just sold their home in Toronto, for $480k, could buy a beautiful apartment complete with pool and recreation area, three bedrooms, three or more baths, a maid's room and bath, laundry, kitchen, huge dining and living spaces, with a view, for $250k, these days anywhere in the city they want. Why would you think like that for your retirement? Let me review the facts for you. In February it is 30 in the shade. You could never find a place here to slip on an icy sidewalk. People are very welcoming and have an immense amount of integrity. Food is great and cheap, you can drink the water. There is no tax on foreign sourced income, they use the US dollar so there is monetary stability, world class health care, first level education, world class shopping, and did I mention that it is warm in the winter? Finally, living in Panama is very affordable, in fact we are buying a retirement home for ourselves; it's 340mt. in area, with a pool. Three bedrooms and baths, a huge patio, in a residential area of the city just off Via Argentina, a wide tree lined avenue, with parks and restaurants, people walking their dogs and kids playing, quite thrilling to consider.

Panama is a gem yet undiscovered, but it is possible to truly make a life style change here, that is a benefit forever. As Saint Patrick's Day approaches, and we get ready for a party we are hosting, I can't help but remember the fun to talk with my good friend and brother of the Panama Cigar Aficionados Club, Gonzalo De La Guardia, who sports three passports and was the only truly Irish person at last years party. He is a citizen of the world who has the good sense to live in Panama full time. His maternal grandmother was Irish it comes to pass, and this allows a person an opportunity to apply for citizenship to the Emerald Isle. So he did. The same opportunity exists in Panama. It is possible to arrange a residency visa that will eventually lead to citizenship, with all the benefits that involves, for yourself and your kids as well! There are even visas that entitle the holder to a discount at the doctors, movie theaters, drug stores and restaurants, to mention a few places.

My son is off to "futbol" this morning, he joined a team here and if not becoming a star, certainly a fanatic, and my daughter will be doing piano lessons later in the afternoon with a local Latin Jazz Master, and we all plan a walk in the Municipal Park sometime today. The park is the reported to be the only untouched jungle park in a modern city, in the world. It is really cool to see the huge trees and butterflies, and the army ants are a blast to consider as there march row on row, (did I say "cool", I meant steaming but it doesn't sound so good, although it is, to a Canadian in February). Another thing we discovered the other day is Dim Sung for breakfast. This is a Chinese delicacy, at a white linen restaurant, with Green Tea and a terrific view of Panama bay that leaves you drooling all week as you wait for the next Saturday morning to arrive. The kids jump out of bed on Saturdays and beg to go again.

I'm sure that there are some who will read this and convince themselves that there must be some deprivations, like tenting in the forest, fun but hard to keep dirt out of your food. That's the "old ethnocentricity" rearing its ugly head again. The facts, from someone who is doing it, is the deprivations are being endured someplace else where there is snow and cold and heavy clothes, and taxes and heating bills, and expensive wine and Gin. The deprivations are waiting in line for months to get needed health care, or paying tens of thousands for orthodontics, or simply not enjoying the wonders of a great meal, with great wine and a gentle evening breeze wafting the sent of tropical flowers all around your head, in the middle of winter.

With my limited resources I was forced to go search out bargains, and will share all, with anyone who would enquire. My friends in Panama have taught be the phrase, that everyone here knows, "B,B,B", which stands for, "bueno, bonito, barrato," and translated means; "good, good looking, and cheap." Making more of limited resources is what we hope to achieve, so if you would like to learn more yourself, take a look at our web site at www.wealthmanagementcanada.com