Leaving Canada & Moving to Panama: 1 Year Update Part 2: Monthly Expenses Unveiled!
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- เผยแพร่เมื่อ 9 ก.ค. 2024
- Link to Panama's Gold Coast Travel Guide: passiveincomeinvesting.ca/pan...
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00:00 Intro
01:40 How we got here...
14:18 Monthly Expenses Overview
15:48 Rent
27:09 Essentials (Groceries)
32:38 Discretionary (Restaurants, Fun)
37:37 Business Expenses
37:57 House Cleaning Service
41:14 Utilities
44:52 Gym Membership
45:49 Car Expenses
49:09 Dentist/Doctor
57:35 200k Investment for Friendly Nations VISA
58:14 Total Expenses
01:02:00 FREE Panama Guide
MISSION:
Help everyday people to invest on their own, in order to create their own source of Passive Income to enhance their quality of life and reach Financial Independence
GOALS of this Channel:
1) To share my Personal Investing Journey & Strategy with the world. Everybody needs to make their own investing decisions. I am NOT against any style of investing and I will NEVER claim my Investing strategy is the “best”; its the best FOR ME
2) Educate you about Income Oriented Investing with a particular focus on Covered Call ETFs listed on the Canadian & U.S. Stock Markets
DISCLAIMER:
The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adriano Starinieri is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adriano is not responsible for investment actions taken by viewers.
#passiveincome #investing #dividendincome #financialfreedom #livingoffdividends #covered call #high yield #income
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The budget part of this video was outlined and prepared, but the rest was spontaneous. We hope you enjoy our chat about our journey to financial freedom and our life in Panama. If you want to skip to the budget part, go to 14:18 Thanks for watching! 😊
Here's the link to Panama's Gold Coast Travel Guide: passiveincomeinvesting.ca/panamainfo/
HI! Will you be coving Canada/Qc taxes (if any you must pay?)
Can you pin the link or include the link to part 1 in the show notes?
would love to see either a PII-Pink channel or a recurring/dedicated segment on this channel to see Erica's perspective on investing / FIRE / PII
healthcare/hospitals in mississauga are brutal. a family member got into a car accident where he was hit by a motorcycle. waited in ER for several hours and even then the ER doc wanted him to go home- even though he had pelvic fractures and couldn't piss/sleep or walk.... was an eye opening expereince for me. Enjoyed and appreciated this video. Lot to learn and very motivating. Hope you do more of these videos thanks guys
Thanks for sharing your journey and learnings!
So happy for you both.
Thanks for everything ❤
❤
Thanks to you both for the video. I havent lived in Canada for years but still visit family regularly and always aghast at the costs of living there. I've lived in a few countires and currently watching from Italy. I think this is where I'll spend my go go years as Europe is where my many friends live and it is relatively cheap to travel. And of course the food is great. I agree, the quality of my groceries is important. I also can't stand the tipping culture of NA which is totally outrageous.
Great video! I appreciate all the details on the expenses and how everything works in Panama.
Great video as always! Thanks to both of you 🙏
Great format Q&A between the two of you. Content is extremely useful for future FIRE seekers.
Thank you for the guide and the free info. Very kind of you!
The guide looks great!! Thank you both.
Thanks Andre! 😊
Another reason why we love your channel. Transparency and great content. Thank you both so much for blazing the trail to FI (RE soon) for our family. You have put rocket fuel into our investments. Wish you all the best! 😎
Thank you! 😃
Much appreciated!
You guys are brave! Thanks for the video.
Great video! Thank you for sharing and the document it's very generous
thanks a lot guys for sharing all your experience , really interesting intel 😊
I thought I was not interested in this it was going to be boring, I would just watch a few minutes. 1 hr 5 min and 22 seconds later I had watched the whole thing and I thought it would be nice to live there, but at least see if we can go visit their next winter. The travel guide is really going to make that much easier for me. Thanks very much for everything. 😍
What a great introduction !! and what a view !!!
"We live under our means.." Words to live by.
Really enjoyed this episode! Informative and helpful to address my curiousity
Yes, they should teach this in school.
100% agree!
Thanks for sharing your journey / transition adriano & erica! God bless you and your family. Thank you so much for your help.
Thank you! 😃
Same to you!
Well done and some real surprises to us here !!
Awesome journey of an amazing and inspiring couple!💞💯
Very inspiring!
Very motivational video! Like it.
Very informative and detiailed video. Makes me want to consider snowbirding in Panama sometime in the future 🔮
Great update and I’m really interested in leaving Canada after my wife and I are done working.
Beautiful couple! And very interesting story neat to get details how we can do it too - inspiring ❤
Thank you Catherine! ❤
Thank you so much for sharing living in Panama. I would like to visit in the near future.
Great video guys. 👍🏾 Appreciate the insights about Panama, your words of wisdom and the offer of the free guide. I will be visiting Panama and hope to see you in person when I do. Thanks again!!👏🏾
Awesome! Thank you!
Thank you soooo much to both of you! You have inspired us and we are getting real close to financial freedom.
Happy to hear that! Congrats on financial freedom 👏 😊
I like the Hamilton ETF's and have started a paper trading account mimicking how I plan to invest once we have liquidated all business assets later this year. Hamilton has been around since 2009 and has a growing family of funds. Sure, some funds are fairly new, but the holdings within them are not! The underlying stocks are up and down to be sure, but the income from div's and distributions seems to be holding consistent from what I can see. Does anyone have any negative experiences with a Hamilton fund not paying out?
WOW now that's a view!, way to go guys!, thanks for the video!
Guys! Awesome and well done. Your wife showed the view of the pool and the beach...fantastic. Are any of those cabana/villas near the pool for rent and how would one go about renting one to "experience" the lifestyle before committing to moving. Tim from Calgary AB.
Thank you for sharing! I will be soon hiring you for personal coaching… once I recover enough from cancer treatments. It’s been a tough 8 months but I’m looking forward to learning from you and your wife. God bless. ❤
best of luck to you!
Thanks for the free panama guide! Canadian looking at generating passive income and a move to Chiriqui region of Panama in 2025! Researching strategies for 8% return as a non resident Canadian!
Is this true that income earned from a CD in Panama is not taxed in Panama?
How much are personal taxes?
Awesome video Erica and Adriano! Very informative and I will go look for Erica's guide from the website. Adriano, we talked a while back and things have gone very well since, so thanks again for the encouragement. In fact, we will be taking a 12-day cruise to Panama over Christmas. Any tips or comments on wheelchair access in Panama? Thanks
yeah, its not walk friendly at all, let alone wheelchair friendly
we followed you .. ha ha .. moved to UK last year .. we prefer a mix .. regular travel , beaches and super cheap easy life in UK . we bought a big house and garden for $375k Can .. cash . our expenses are ridiculously low .. telecom $15 a month . etc . internet $50 . free transit and medications . family doctor . amazing health care service . just back from Tunisia . Montreal in April to visit daughter . thanks so much for your inspiration and tips .
Sounds wonderful! 😊
Where are you living in the UK to get a house for $375K. As a British citizen who has never lived there, i am thinking about moving there for my retirement. Thanks for any advise.
@@Ara9gorn999wirral cheshire .. UK is perfect for retirement . very affordable now and many perks for over 60's .. free meds etc
@@blanksy_- Thank you for that information. I appreciate your help. Will look into it.
In your next video, can you please touch on the topic of Natural Disasters and if/what Panama would be prone to?
as far as i know none, besides drought but that's everywhere
thanks
annoying you cut each other off
Adriano true . She is a beautiful lady ,
This video is great asome update thanks. Great info
❤
So nice of you
Makes me want to move to el savador more 😅
59:22. every single Canadian or person should listen to Erica and never too late to start what Erica said.
Can you pin the link or include the link to part 1 in the show notes?
Panama city reminds me of Singapore in the 80s/90s. Think it has plenty of potential to become a real economic hub of L America although Miami might be stealing that now.
Hi I was wondering how many languages you guys speak? English and I am assuming French, Spanish? I was also wondering if you can buy there as a foreigner?
They are renting off a Canadian, so yes. They mentioned You have to invest $200K USD. It could be in real estate.
They mention they speak French, English, Italian and some Spanish.
We also have a country that's business reputation is in serious jeopardy after arbitrarily dismissing a legal contract with First Quantum.
The bond ratings are being downgraded. We have a former president who was sentenced for corruption and barred from running in this years election, who is in country held up in the Nicaraguan embassy in defiance of Panamanian law. And the sad thing is according to some polls he was the favorite candidate of the people who were rioting because of corruption???
How many tennis courts are there? Do you have good tennis partners to play with?
There’s nothing more irritating than healthcare cost. Here in America, healthcare is for profit and they screw you every way possible even with good insurance. I need a CT heart scan and of course my insurance won’t cover 1 penny of the procedure and the cost out of my pocket will be 2,200 USD. absolutely ridiculous and hopefully within the next 5 years I’ll be leaving the US and healthcare is one of the top reasons. I’ll be looking into Portugal, Panama and Thailand or maybe even Japan as my wife is from there and the healthcare system costs are very reasonable.
Your lowest demographic is sub 18, just saying. Your channel is a beneficial asset in order to help teach the importance of saving for your future to Gen Z & A.
Thank you! 😃
How did you move do you need to invest in thier economy. What are the step to have a property retirement in Panama????
Holy mother! Only $185 USD for car insurance a year?? I pay that per month in Ontario, Canada. Damn. 😮
i took the "basic" insurance.... wtv that means. The car is worth like 4k now? i wont spend on it. if it breaks, ill leave it on the road and walk home lol
Panama has 4 million people in it Canada has 40 million big difference in population when it comes to medical. Not enough doctors in Canada and likely an over supply in Panama.
Thank you for the awesome update Would you say Panama is a "safe" country for single women ?
safer than Canada id say or the U.S.
The medical “care” in Ontario is HORRENDOUS. Even emergency rooms, you’re waiting around 8-10 hours for non-life threatening issues. AND the doctors in emergency rooms don’t give a F, they do BARE MINIMUM, and shove you through the mill, not proactive, you have to beg them to listen to you. They don’t listen, I get it they’re overworked but that’s no excuse…we pay for OHIP, and it sucks bad.
I’d rather pay out of pocket and get actual care by doctors who spend the time and don’t leave any stone unturned.
I was sent back home 4 times from emergency rooms in the span of 2 months, they basically said what I had was just due to hormonal changes, no big deal, I’m just being dramatic…
Turns out it was cancer. I was delayed diagnosis by 3 months because the doctors don’t take you seriously.
It’s a shame and it cost me my health, treatment and recovery time. I may have avoided the cancer growing to stage 3/4 if they actually took the correct tests.
yes i hear more and more horror stories. even my parents have been forced to go Private. all those tax dollars: WASTE
What part of Panama do you like to live.
Coronado
Born and raised in St Leo bro?
7:40 RETIRED 3yrs ago at 49...Wo, wo, wo, stop the clock!....you mean I've been doing it all wrong doing nothing since then😂. Doing nothing is way, way better than doing something...for the master at a 9-5.
i get what you mean but its not about doing "nothing" its about FREEDOM
Very interesting. Thanks for the info. Better double check your math on the Montreal telecom expenses.😊
?
$185 / year for car insurance?? Wow!
Your lucky Adriano to have such a wonderful wife. Nothing more beautiful than that 😊
Panama is More Expensive than Canada, Montreal is very Cheap for Auto +Home Ins Just 75.. that is dam cheap.
Bro I am working towards replacing my entire income :)
Keep it up
What am I missing? Your Panama expenses are 10% HIGHER than what they were in Canada. How is this better? I will say this, anyone who thinks that Panama is lower COL than the USA or Canada, they should look at your comparison to see the proof that it is not. I visited Panama a long time ago, and even then I was shocked at how expensive it was, given that it is a 3rd world country. I know, I know, PTY is not a 3rd world city, I get that, but the rest of Panama is definitely 3rd world. Simply put, the COL in Panama is much higher than it should be, and I think the USD as their currency is the cause!
You can’t compare a 2600 sq foot 4 bedroom 4 bath penthouse, beachfront condo vs their 700-800 sq foot 2 bedroom 2 bath place. A similar size condo near water in Montreal will probably be like 4-5K.
Also they have house cleaning services which they didn’t have in Montreal. Also as business has grown they have more business expenses.
@@iptvclub1575 Right. Besides COL, we also need to think about QOL. Warm weather, compared with Montreal, for many people esp women is invaluable.
I assume you have dual citizenship? To be able to have TFSA 's RRSP' s?