Making the How Happen!

A Look Back...

Getting to this point, about 12 days to departure now, has provided many stop-and-check-for-sanity (have I lost it?) moments.  Once we returned from our second trip to Panama in November of 2017 we knew we were going there! (I will come back to this post and provide a link to that trip blog when I publish.  It was in the form of daily emails to my 91 year old auntie, now deceased, for her vicarious thrill.)  We had built a life and acquired a volume of stuff over the past 31 years together and we were about to toss it all in a shredder...

We applied logic to our emotions and made decisions that allowed us to start shredding and make the  life change to Panama within our budget.  That meant getting rid of just about anything material that we absolutely didn't need or could easily replace in Panama at a reasonable cost to control eventual shipping costs.  (Now you see why we spent time on the specific research that we did....)  That process took one year.

We continued to work as much as we could (Bryant was making great money on overtime for 2017) and we reduced our living costs as much as possible to save as much as possible.  How much money one needs to live is a personal  lifestyle choice once you have the basics covered.  We had lived pretty high at one point and had since discovered the joys of living simply.

My social security benefits began by choice when I turned 65 this past November and that was the point at which we could disconnect from our work life providing that stipend was our monthly budget.  Our savings will continue to grow and perhaps eventually be used to buy property.  Some amount is earmarked for travel and other activities.   For this first year in Panama, we will budget wisely and report the actuals at the end of the year. 

Rental House in Los Naranjos, Boquete

The View Ahead

We know costs are rising in Panama as typical with any growing economy.  However, for this first year, we have acquired a 2 bedroom, 2 bath fully furnished rental in Boquete for $700/mo

including utilities and internet.  All we pay in addition is the propane, the gas used for heating and cooking.  Propane and diesel are below $1.90/gal currently.  We found this property via our new network of friends that we had established on our first and second visit to Panama.  Yup, I'm like my Dad was...never met a stranger.

For those interested in city living, Panama City looks and feels like Miami and costs are on par.  Search 'Living in Panama City, Panama' and many blogs and YouTube videos will provide useful details to determine if that is your spot.  Focus on first person accounts and not the publications.  Just sayin'.

We have purchased a 2014 Toyota Fortuner diesel all wheel drive (similar to the 4Runner model here in the U.S.) that will be delivered to us upon our arrival in Panama City for about $20k, all license and transfer costs included.

Our actual car awaiting our arrival

We did this so we can take our time driving along the Pacific coast of Panama as we head west from Panama City to David, the second largest city in Panama, and then north up the volcano to Boquete.  Renting a car in Panama is a whole other experience, not for the meek IMHO, and that experience will be posted here at some point.  Often time, retirees will not bother with a car and use the public transportation to get around and Uber is available in Panama City.  Public transport is cheap and plentiful.

The used car market is very strong in Panama and a new car was not of interest to us.  We had considered shipping my old Landcruiser over with the household goods already packed in a trailer and then driving the rig out of the shipping container to our home.  Easey peasey it seemed... but not really do-able the way we imagined once we started talking to shippers and how they operate.   And, car models that are not sold in Panama present costly challenges for parts and repair work.  The idea to ship over an older car turned out to not be a good fiscal decision.

We found the Toyota Fortuner via a Canadian expat living in Boquete that helps incoming and outgoing expats buy and sell cars.  He is a prolific contributor to one of the blog boards that I frequent, Chiriquí.Life (Chiriquí being the province where Boquete is located) and has mastered the paperwork required for ownership and insurance in addition to offering mechanical knowledge and valuation.    Our local friends locked eyeballs with him over coffee to ensure he was real and well regarded...and voila..we have our car!  More detail to follow on this process and his name if he agrees.

Bryant, being 7 years younger and not ready for social security, is putting his leisure time to good use... is now a student of the stock market and has made this his new career.  Trading can be done from anywhere these days.  So far he is doing well and I admire his commitment to this venture.  My fingers are crossed that our future home purchase will come out of his efforts!

The Checklist

To reach this point of readiness and maintain normal blood pressure, I devised a Timeline Planner on Excel.  The left column listed each step under a group heading and the top row across listed the calendar week it needed to be completed.  Certain documents that the Panama Government requires for immigration are akin to the shelf life of lettuce...there is a short and finite period of time the documents are valid once the authentication or apostille is done.  And that authentication sometimes must be done within a certain time of acquiring the document.  Queuing up what is needed when and arranging for the authentication and/or apostille within the required timelines demands some focus.  Any visa requires a Panama attorney and ours was a huge help directing us the step by step.  I will list her contact information when I post about our Pensionado (or retiree visa) choice over the other visas available and the complete process.

Much of the activity for our checklist was derived from understanding how other expats handled these tasks and applying the lessons learned to avoid frustrating or costly mistakes.

Essential group headings on our checklist include:

Airline reservations/baggage considerations

Pets/cargo requirements/country requirements and documentation 

Accommodations/transient and permanent

Transportation 

Health Insurance 

Visa requirements (what could be done here before arriving in Panama?  Turns out, a lot!)

Drivers License requirements

Bank Account access/credit cards/funding of lifestyle

Mail forwarding

Communications/cell phone plans

We also completed Will and Estate Docs updates and Life Insurance updates assigning family members as the executors and beneficiaries just in case the unthinkable happens.

Details on our task list and the decisions made will be forthcoming!

Final Happenings

We have one last run planned to the storage locker, the dog's health and rabies documents to be authenticated at APHIS and the Panama Consulate in Long Beach, the sale of Bryant's truck, and the transport of the dogs, ourselves and 8 pieces of baggage to the airport at the appointed time. 

Oh, and helping my cousin ready my auntie's house for rental in our remaining time.  Retirement? Ha.

 

Come along for the ride!