Expat Adventures – Fall 2025
Hola mi amigos.
How was your summer? We enjoyed our time in northern New York along the seaway and made a few trips to Ottawa. However, much of our Canada day count was consumed with a list of items to tackle at the rural farm property and required visits to assist my aging father, whose condition continues to deteriorate. At 95 years of age he has certainly “beat the odds”, however in recent months, his quality of life has unfortunately declined.
This was our second year outside of Canada with the CRA officially recognizing us as “having left Canada” and accepting all our tax filings as submitted. Next year, and certainly 2027, we should be able to expand on the “unofficial” 30 day stay limitation and spend a little more time visiting family and especially friends. We feel 40 days would be plenty and without the above responsibilities, more than enough. That is because we really enjoy living in the 1000 Islands/Seaway area June through mid-October. The scenery, the activities and the people are wonderful here. There is no political discussion, the costs are lower, and we are treated well. It is only 75 minutes to Ottawa. Life is good.
At time of writing, the great fall colors are in full beauty. Most boats are now out of the marina and river levels are beginning to drop. Audrey was away for a several days mid-September to visit her mother in Kennesaw Georgia which gave me time to catch up on pre departure tasks. A local golf club has an annual turkey dinner offering that coincides roughly with CDN thanksgiving. We participated last year (dine in or take out) and will do so again this year. It is just offered a week earlier, which is great for us this fall, because on October 9th we fly from Ogdensburg to Washington DC (Dules airport) and then take a transfer to Annapolis Maryland. This is where one of the largest boat shows takes place, on Chesapeake Bay. Power is a week earlier and then sail follows, which we will take in. We are anticipating our visit, not only to see boats and related vendors, but the sights of Annapolis itself. Afterwards, we fly Copa airlines from Dules to Tocumen in Panama City and are back there October 14th. That is home until next May/June, save and except some short trips within the South America region over the winter.
It still amazes me how inexpensive flights are in the USA. For the two of us flying Breeze Airlines business class, Ogdensburg to Washington Dules, it costs $180 USD. For those of you in or around Ottawa, you may wish to look at Ogdensburg for winter destinations via Breeze Airlines. They have new Airbus large jets (A-320) coupled with low fares, plus recent upgrades to expand and modernize the Ogdensburg – Ottawa airport. Yes, you read that name correctly! On our trip north this spring, two thirds of the passengers were Canadian residents from the Ottawa Hull area, hence the new name. Ogdensburg is only a one-hour drive at most from Ottawa, straight down HWY 416. If flying inside the USA to Las Vegas, Florida etc., you don’t need to be at the airport as early as you would in Ottawa. Many already take that extra hour and drive to Ogdensburg and fly at far less cost to favored US destinations. Breeze has also added Montego Bay Jamaica, Dominican Republic and other great destinations. It’s worth a look if you are interested in savings and the overall financial health of Your Family Inc.
I was happy to volunteer my time to speak at the recent seminar on September 24th. Anka Molon had requested this based on the large demand for the “expat topic” last winter. I was happy to set aside some time for Adam’s first seminar of fall and it was a great pleasure to see familiar faces and reconnect with longtime friends. Rules for residency and citizenship are fluid and evolving. Tax planning and investment advice are always needed to ensure wealth creation and preservation. Unfortunately, more people than ever are deciding that another country offers them more and this is leading to increased departures from Canada. It is widely agreed that there needs to be serious reforms in areas of taxation, immigration, public safety and so much more. Health care continues to underwhelm for most as does gross domestic productivity. In fact, several recent reports show Canada in a dismal place when compared to other G7 and G20 counties. Change can’t come fast enough from whichever party is in power. What is clear is that more of the same policy won’t do anyone much good. Many people have decided that waiting for that change is just too risky for their personal or financial health. They simply relocate to where they feel they have better opportunities or are treated better or both. This is most true for both higher income earners/the wealthy as it is modest income earners with modest means who can simply live a much more fulfilling life where the cost of living is greatly reduced. Your money lasts longer and/or you can do more when housing, food and utilities cost far less.
Panama and others are beneficiaries of what is taking place in both Canada and the USA. Growth is strong in Panama and increasing. Visits to Panama are on the rise year after year with the 2025-2026 winter season on track to set a record. Winter vacation home bookings are selling quickly, which is a great indicator. Infrastructure improvement continues at a quick pace. The new railway project linking Panama City to the city of David in the west is beginning shortly. The existing light rail expansion from Panama City to the outlying regions of Chame district (bedroom communities and beaches area) is nearing completion. This includes a new tunnel under the canal. Another bridge is being built over the Canal to help relieve traffic on both the Centennial and the Bridge of the Americas in and out of Panama City. A fourth bridge crosses over the canal near Colon on the Caribbean side. Mexico, Costa Rica and even Uruguay are also of interest to those seeking relief from the high cost of Canadian living, taxes or winter weather, as a snowbird or non-resident of Canada.
In November we take possession of a new 2-bedroom waterfront condo at Playa Caracol bought back in March 2023. This is a beautiful stretch of beach in Panama’s Chame district. There are some existing developments and amenities already in place with a new Margaritaville hotel being developed on this 5 km stretch of beach about 75 minutes west of Panama City. We hope to spend some time there occasionally and rent it out judiciously when not. We plan to visit friends in the highland town of Boquete as well as a week or 10 days there is always nice. Audrey likes to go horseback riding and there are lots of activities in this cooler, more temperate region. It’s a beautiful, lush area which is also referred to as the city of eternal flowers and where plenty of farming takes place. We have additional side trips to other nearby countries planned for the new year. More on that in the Winter newsletter.
Remember wealth and how long it lasts, depends on a solid plan that considers so many facets and inputs. Not only does it need your proper disciplined funding, prudent investment choices in both public and private investments that meet your objectives, but diversification has never been more important than today. You don’t need to look far to witness the geopolitical and currency risks being added to the mix. Also, the proper redemption strategy so you don’t exceed annual income withdrawal rates that eat into your capital in retirement – too much too soon can ruin sustainable income projections. Adam and team have the access and know how to manage all this, which is why we continue to have all our registered money at Mandeville under his care.
I wish you good fortune and a wonderful Thanksgiving. Happy Halloween fun in your local communities and enjoyable Christmas celebrations. Health is everything, so take the time to care for yourself. Should you head down Panama way, ask Adam to let us know or reach out yourself. We would be happy to meet up with you and show you the vibrance, highlights and history of Panama City.
Sincerely,
Michael
