Expat Adventures – Winter Edition

posted: 6 January 2026/Michael Prittie

Happy New Year!

We hope you all enjoyed a great Christmas season and that 2026 brings with it health, happiness, and prosperity.

In Panama, Christmas is quite the celebration. What we lack in snow and reminders of the north pole, is overshadowed by extensive light displays and the Christian religious aspects. Social events are frequent and local theatres are devoted to themes like The Nutcracker ballet. It is a busy time of year here and a reminder not to visit anywhere near the large shopping malls, which become packed with traffic and holiday shoppers.

Departing from Ogdensburg NY in mid October, we stopped in Annapolis Maryland for several days. We had never been to this eastern seaside town which hosts one of the largest power and sailboat shows each fall – one follows the other. We enjoyed the local sights and the sailboat show which truth be told, was smaller than I had envisioned. Don’t get me wrong, you could still drop seven figures on many of the in-water display vessels, but it was much smaller than those held in Ft Lauderdale or Miami Florida. Our money went to hotels, restaurants, onsite bars and UBER. I don’t buy new cars and I would never buy a new boat!

Our arrival in Panama was smooth, and we were happy to be back to our main home. While we have wonderful friends in northern NY, we have many more in Panama and additional activities here that we like to partake in. Halloween is fun with many parties, and we attend one at a historic residence called Villa Ana. Thanksgiving (American) is a big social event. The Central Hotel in Casco Viejo, the community in which we live has a fantastic thanksgiving dinner where about 20 of us gathered. An unbelievable feast for $60 each which includes wine and a very nice venue. For Remembrance Day we attended the ceremony with some friends at Corozol American Cemetery which was well done.

We flew to Boquete (Panama highlands) mid December for visits with friends and a Christmas celebration. As mentioned before, Boquete is a favorite for expats given its 3600-foot (1,100meter) elevation and mid September like weather. Boquete, called the city of eternal flowers is an escape from the coastal heat as is El Valle, closer to Panama City.

We have many travel plans this winter in this area of the world. In addition, a 2-bedroom condo I bought pre-construction in March 2023 is now ready/furnished. Only 90 minutes west of the city, and beach front at Playa Caracol, it’s an easy and fun escape. We hope to utilize it occasionally and rent it out when not. We hope your winter is full of seasonal activities that make it fun or that you too have an escape plan to somewhere warm.

From a financial planning standpoint, prudent asset allocation and “future proofing” oneself against the various geopolitical and economic threats at home and abroad have seldom been more important. Debt loads in Canada, the USA and other countries continue unabated. Inflationary policies (government spending) coupled with high taxation make it hard to prosper, since doing so means having net cash flow to invest. Canada’s youth have it especially hard and the dreams of many are just far out of reach.

For many at or near retirement, the cost of living is tough and that is why increasing numbers are looking to relocate elsewhere. Considering lower (often much lower) cost of living, significantly lower taxes, nice weather and enjoyable cultures, the choice is becoming easier for a growing number of Canadians. From parts of Asia, some parts of Europe, Mexico and Latin America, there is a plethora of choice for almost everyone.

The best advice I ever heard was “invest 10% of what you earn”. I will add in, don’t touch it or spend it on depreciation items like new cars, boats and such. Start young and you’ll be wealthy and very likely have no financial worries at retirement. At all ages, seek out a written plan from Adam and team that highlights the roadmap to financial success.

If at retirement and finding it hard to achieve the lifestyle you dreamed of or conversely being punished for your financial success by punitive taxation, simply look elsewhere – because many options do exist. I don’t mind paying tax, just not exorbitant tax. Any marginal tax rate above ~40% and especially 45% is too much when not receiving the value promised. Especially when the high rates kick in at such low thresholds and health care and other benefits are not being fully provided.

As humans, we behave ourselves into all situations. The great news is, we can just as easily behave our way out. So, plan and execute the proven and valid strategies available at various stages of life. Be it healthy living choices that slant the odds in your favor for greater active longevity or the financial choices that put you in control of your destiny and your chosen environment. The old saying “if its to be its up to me” has never rung truer.

Now that our New Years Eve celebrations are past, we wish you all a wonderful 2026. If interested in heading down our way, please do let Adam know. We would be happy to show you some sights and catch up. Some photos are attached.

Over the past two years I have given some insight into many of our activities and life outside Canada. The how and why we came to choose Panama as our main residence and related information. Going forward, I will be cutting back to an annual edition in Adam’s January newsletter. In the meantime, if you desire any expat information, be it exit planning, cost of living and features of popular destinations or other insight, I would be happy to share information whenever it’s helpful.