If you could live anywhere

[makloda]

Quote from johnpinochet:
Panama does have first world comfort available.

I think you can get first world convenience, products, service and comfort just in about any city of the world. My impression is that in any non-1st-world city of the world there is a services industry catering to western expats. They're specialized on dealing with expats because they know expats are willing to pay good $$$ for thing they miss from back home and are hard to get locally. This opens the door for scams and rip-off schemes where the odds are stacked against the expats.

a) General services: You want your western car repaired by trained professionals? Technicians that were trained on the manufacturers site in Germany? Good, then your annual maintenance is not a dime cheaper than back home in the US/Europe. And make sure you tip the guy 10% when it's time to pay, otherwise they might install used parts next time they have to fix something while billing you for brand new ones.

b) My current Gym Membership (Eastern Europe) is more expensive than anything I ever paid in the western world. It's easy for these guys to set prices because its the only gym in the entire city of 2 million that has high class equipment and is reasonably clean.

c) Rent: I pay the same rent for my apartment that I used to pay in Germany or in Phoenix/AZ when I lived there. Yes, you can rent how the locals do. A 1920 apartment block in the ghetto where everybody else lives. It's cheap. Around 400 EUR/550 USD for 700 sqft. You want a secure garage so your car doesn't get stolen like all the others, air condition, 2 big bathrooms, modern western appliances and fixtures throughout the house, alarm system and a steel/rock solid door so you can sleep without being scared? Want to live in a safer area of town, where all the embassy and corporate folks drive up prices? I pay 1400 EUR (1850 USD) for 1200sqft. I'm not complaining, but this is not cheaper than Berlin, Munich or Stockholm (Then again, probably cheaper than London or Tokyo!). It's about the same price level, but the quality of life here is way less "high class" than those cities!

My bottom line is: Wherever you live, if you want first class service, products, security or quality of life... you can get it, but only you if you're willing to pay the proper price. There is no shortcut to "living like a king" on $10 a day. You will have to make compromises if you want to live cheap.

 

[nonam]

Makloda,any idea why IB do the foreign stock deal that way?Why dont they exchange the appropriate amount of currency from your account and buy the foreign stock?Is there a technical reason why they cant do this?

 

[fearless9]

Quote from johnpinochet:

Panama has beautiful weather. It still has a reasonable cost of living. Wonderful food. Terrific restaurants from all over the world. Top banking nation. Easy access to North America and South America. Easy access to either ocean via the canal if you want to take a cruise.

This isn't a reason for me as I'm married, but, as I've said, I've lived in 20 different countries, and Panama is at the top of the list for drop dead gorgeous women. Go to the Miss Universe web site and click on Miss Panama for any year.

Petty crime and police corruption would be a concern, but bottom line, once you are married and have a family, the normal routines of family life keep you away from 99% of the things in life that might get you into trouble. That would apply in any country.

Interesting comments JP.
We live between Buenos Aires and Panamà and it provides a great contrast but always latin based.

Next month we leave BA for Panamà, Cuba, DR, Miami etc.
Very interested to watch real estate in DR.
We are kiwis and have lived in US (CA&Fl), Italy, Aussie, England and have traveled through many countries.

There is something about latin /central America that gets under your skin and it makes other countries dull by comparison.
Sure, you can write a book about what is wrong with the countries south of the border.
But I think if you remain focused on those things then you are better to simply travel within your own comfort zone and remain living in the country of your birth.
You will miss out on a lot though.

We are bullish on Panamà and it's future. For the first time in it's short history, the country has control of it's own destiny.
The population at 3.2 million is small enough to progress quickly, unlike Brazil or even Arg.
The economy comprises of The canal, financial services, agriculture and tourism. I would like to see the first three expand, to reduce the reliance on the fickle tourist dollar.
The currency is the greenback basically, which removes political temptation to fiddle (arg) and eliminates reserve imbalances (brazil)
Time zone is CST perfect for CME trading. Internet is good.
Climate in zona seca ( 90 mins NW of PC) is perfect.
Crime is low. Mind you after Rio de J, Sao Paulo and increasingly now in BA most places have low crime.

Energy is mainly hydro, but I suspect that future growth will be by way of carbon based fuel which is a problem.
There are no reserves of oil and gas which sad, because with them the country would be complete.

If the Gov and the people can clean the place up and lay down and implement a path to the future, I think Panamà will be turning people away in the next decade.

I know, I know, no latin country has achieved this to date although Chile is now into it's 14th year of continuous progress and has the most westinised economy of the latins.

Still I am bullish on Panamà as a place to live.
This enthusiasm does not spill over into Europe, US, South Africa, Mexico and I prefer latin Am to Asia.
Canada is too cold and although I have enjoyed living in Aussie (Qld mainly) I now cannot imagine going back to NZ/Aust.

 

[makloda]

Quote from nonam:
Makloda,any idea why IB do the foreign stock deal that way?Why dont they exchange the appropriate amount of currency from your account and buy the foreign stock?Is there a technical reason why they cant do this?

I am not sure, but to achieve what you asked for (exchange) you can just simple buy back the short currency position and thus have 1:1 currency exposure and 1:1 stock exposure with no hedge.

 

[johnpinochet]

Quote from fearless9:

Interesting comments JP.
We live between Buenos Aires and Panam� and it provides a great contrast but always latin based.

Next month we leave BA for Panam�, Cuba, DR, Miami etc.
Very interested to watch real estate in DR.
We are kiwis and have lived in US (CA&Fl), Italy, Aussie, England and have traveled through many countries.

There is something about latin /central America that gets under your skin and it makes other countries dull by comparison.
Sure, you can write a book about what is wrong with the countries south of the border.
But I think if you remain focused on those things then you are better to simply travel within your own comfort zone and remain living in the country of your birth.
You will miss out on a lot though.

We are bullish on Panam� and it's future. For the first time in it's short history, the country has control of it's own destiny.
The population at 3.2 million is small enough to progress quickly, unlike Brazil or even Arg.
The economy comprises of The canal, financial services, agriculture and tourism. I would like to see the first three expand, to reduce the reliance on the fickle tourist dollar.
The currency is the greenback basically, which removes political temptation to fiddle (arg) and eliminates reserve imbalances (brazil)
Time zone is CST perfect for CME trading. Internet is good.
Climate in zona seca ( 90 mins NW of PC) is perfect.
Crime is low. Mind you after Rio de J, Sao Paulo and increasingly now in BA most places have low crime.

Energy is mainly hydro, but I suspect that future growth will be by way of carbon based fuel which is a problem.
There are no reserves of oil and gas which sad, because with them the country would be complete.

If the Gov and the people can clean the place up and lay down and implement a path to the future, I think Panam� will be turning people away in the next decade.

I know, I know, no latin country has achieved this to date although Chile is now into it's 14th year of continuous progress and has the most westinised economy of the latins.

Still I am bullish on Panam� as a place to live.
This enthusiasm does not spill over into Europe, US, South Africa, Mexico and I prefer latin Am to Asia.
Canada is too cold and although I have enjoyed living in Aussie (Qld mainly) I now cannot imagine going back to NZ/Aust.

I lived in Peru for 4 years and Chile for 4 years. I've visited Argentina, and Panama for many extended stays. The most westernized of all of South America is Chile I believe. By westernized I mean specifically the good things of the west, rather than the bad. The lake regions of Chile are so beautiful even now the memory is taking my breath away! Think the best that Switzerland has to offer with no one there! If you've ever watched the movie, "The Village" and fantasized about pulling something off like that, i.e. buying 25 miles of pure, untouched, pristine, middle of nowhere land where you could create your own mini-state, Chile would be it.

Man, I want to go back.

 

[fearless9]

Quote from johnpinochet:

I lived in Peru for 4 years and Chile for 4 years. I've visited Argentina, and Panama for many extended stays. The most westernized of all of South America is Chile I believe. By westernized I mean specifically the good things of the west, rather than the bad. The lake regions of Chile are so beautiful even now the memory is taking my breath away! Think the best that Switzerland has to offer with no one there! If you've ever watched the movie, "The Village" and fantasized about pulling something off like that, i.e. buying 25 miles of pure, untouched, pristine, middle of nowhere land where you could create your own mini-state, Chile would be it.

Man, I want to go back.

So I take it that the latin lifestyle got to you JP.

 

[johnpinochet]

Quote from fearless9:

So I take it that the latin lifestyle got to you JP.

That is a yes in all caps.

I live in Asia now and I would love to go back.

My only reservation for continuing travels with my wife and children is that on the one hand I had an experience like no other as a child, and as an adult, but on the other hand, there is a tremendous sense of melancholy I'm experiencing now with the two kids under 3. I really don't know where I fit in and I really don't know where I want to raise my children. Asia is out for obvious reasons. Without going in to great detail, let's just say a mixed race person is almost 100% at a disadvantage in Asia. Anywhere in Asia, i.e. China, Japan, Korea, etc. Yes, yes, you'll see the beautiful mixed race models and the occasional actress, but you'll never see anyone of mixed race in a position of power and influence in any of the above mentioned countries.

I know, someone will pipe up and say, we'll it is just like that in the US. Ah, no, it isn't. Have you ever been refused service because of your race in the US, in the last 10 years? Service for a phone, service in a restaurant, service in a bar, denied entry into a nightclub? I asked a military friend (Asian military) I knew once about the mixed race orphans abandoned during (you pick the war). I was curious to know if at least one avenue for them in life was to excel to a high level in the their military. He looked at me like I was crazy!

The other reason not to stay here beyond a few more years is that my two children are girls. I still regularly hear stories of the high IQ studious female child being held back at home while all of the family money is squandered sending the idiot male child to college. Think about that for a second! I won't even get into the whole aborting your unborn baby because it is a female! Regardless of which side of the fence you sit on that one, you have to admit that it is short sighted thinking! I know no one is going to believe me but there are classes where the boys outnumber the girls....significantly.

 

[fearless9]

Quote from johnpinochet:

That is a yes in all caps.

I live in Asia now and I would love to go back.

My only reservation for continuing travels with my wife and children is that on the one hand I had an experience like no other as a child, and as an adult, but on the other hand, there is a tremendous sense of melancholy I'm experiencing now with the two kids under 3. I really don't know where I fit in and I really don't know where I want to raise my children. Asia is out for obvious reasons. Without going in to great detail, let's just say a mixed race person is almost 100% at a disadvantage in Asia. Anywhere in Asia, i.e. China, Japan, Korea, etc. Yes, yes, you'll see the beautiful mixed race models and the occasional actress, but you'll never see anyone of mixed race in a position of power and influence in any of the above mentioned countries.

I know, someone will pipe up and say, we'll it is just like that in the US. Ah, no, it isn't. Have you ever been refused service because of your race in the US, in the last 10 years? Service for a phone, service in a restaurant, service in a bar, denied entry into a nightclub? I asked a military friend (Asian military) I knew once about the mixed race orphans abandoned during (you pick the war). I was curious to know if at least one avenue for them in life was to excel to a high level in the their military. He looked at me like I was crazy!

The other reason not to stay here beyond a few more years is that my two children are girls. I still regularly hear stories of the high IQ studious female child being held back at home while all of the family money is squandered sending the idiot male child to college. Think about that for a second! I won't even get into the whole aborting your unborn baby because it is a female! Regardless of which side of the fence you sit on that one, you have to admit that it is short sighted thinking! I know no one is going to believe me but there are classes where the boys outnumber the girls....significantly.

I have spent enough time in asia to know that they march to the beat of a different drum and I would not be thrilled raising two young girls there, except perhaps Singapore, but I dont care for the place ... too shiny and full of rules.

Now, Panamà must be looking like a prospect.
No racial problems, either you have money or you do not.
Good schooling and getting better, the bright advantaged ones either go to Uni in US or cap off their post grad in US or Europe.
My Attorney and good amigo, read law in Panamà and capped off his masters at Cambridge.
Medical system looks OK to me.

You would need to live in or near PC for the schooling, but there are some nice areas being developed.

Interesting that you say you do not know where you fit into this world.

That IMO is the result of extended travel coupled with an open mind.

Given the state of el mundo en este momento, I would not be in too much of a rush to fit in anywhere.
Just build you own life with your family and enjoy it.

 

[johnpinochet]

Thank fearless, I'll keep your info in mind. Good luck with your adventures.

 

[JOSEF]

<b>This is not a plug for Interactive Brokers but this is what I know so here are the options they offer:

1. You can use IB from wherever you live and have access to the internet
2. You can denominate your account currency in either USD or any other one (e.g. EUR or CHF)</b>

Thanks Makloda. Your reply was very helpful. I didn't realize this was possible to do. As I don't currently have IB, I will start researching them.

I want to trade US stocks but at the same I am also concerned about the future of the dollar. This may be the way to go.