PANAMA | Stefan James Vlog

Panama has always been on my list of places to live. I finally made that dream a reality.

On June 1st, my girlfriend and I left Canada and moved to Panama to start a new chapter in our lives. From the beginning of our relationship, we talked about creating a vision for our life together that we both loved.

We've always wanted to live in a foreign country. Panama aligns with our vision, so we took the leap! We couldn't be happier with our decision.

Are you ready to see what a day in the life of a digital nomad looks like living in Panama?

Watch the video below:

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Panama is the ultimate tropical paradise.

When Tatiana and I first visited Panama we were blown away by the diversity of it. There is so much to do and see. For those of you that don't know, Panama is a country in Central America that is bordered by Costa Rica and Colombia.

The weather is beautiful and the geographic diversity is amazing. The majority of the country is comprised of jungle terrain. You can find mountains or beaches in close proximity to one another no matter where in the country you are.

Tatiana and I love to travel to new places. An amazing thing about Panama is that it is a central hub to a lot of epic tropical escape destinations. For example, you could easily take a week-long trip to Guatemala, Honduras, or Nicaragua. 

Tatiana and I loved living in Vancouver, but one of the challenges that we faced was the rainy weather, which lasts 8 months of the year. In Panama, we get the best of both worlds – white sandy beaches, beautiful humid weather, lush jungle, and mountainous terrain.

Tatiana and I made the decision to move to Panama last year but it took us quite a lot of time to plan our big move. Last year we sat down and thought about what we wanted our life to look like moving forward.

Panama is one of the most developed and Westernized parts of Central America.

A lot of international banking and business takes place there. Given that Panama is one of most modern cities in Central America, we find it to be a very safe place to live. Like anywhere, it’s important to be aware of your surroundings and take care of your belongings.

For these reasons and more, Panama has become one of the top destinations for expats who are seeking a low-cost, minimalist lifestyle. This was one of the many things that drew us to this beautiful destination. 

I’m currently spending $8,000 plus per month for a penthouse and a sports car that I never drive. We knew it was time for a change. Panama felt like the right choice.

Our decision to leave Canada altogether did have consequences. When you leave Canada they tax you, worldwide. Tatiana and I decided that, because we travel so much, it no longer made sense to continue paying taxes in Canada.

As you can imagine, I had to pay a very large departure tax to leave. I wanted to do this earlier rather than later when it would be even more costly. I am still a Canadian citizen. It’s just that my permanent residence location has changed.

Because Tatiana and I want to settle down and have kids in the next few years, we knew that now was the time to travel more and enjoy the laptop lifestyle to the fullest. This is one of the many privileges of being an entrepreneur – you get to design your life, on your terms. Creating an online business changed our lives.

I've been blessed to live a very luxurious lifestyle.

Materialistic possessions are great but sometimes you can become too attached to things. In actuality, I value experiences so much more. Getting rid of all of my stuff has been an empowering process for me. I'm ready to live more minimally.

Since living in Panama, one of our rituals has been spending Saturdays hanging out by the pool, reading our books, and relaxing. We have someone that comes to our apartment to cook and clean for us on Saturday, so we have to be out of the house regardless. We’ve also been taking in all the sights of Panama.

According to new research from NodeSource, the majority of entrepreneurs say work-life balance is the biggest challenge they face. I can totally relate. Entrepreneurship is hard work. If you want to be successful, you can expect to work long hours in the beginning stages of building your business.

Because of my love and passion for business, work doesn't feel like work. However, that doesn’t mean that I should ignore my health and well-being. I think that there is a stigma in the online business world that work-life balance isn’t possible for an entrepreneur.

I disagree. It comes down to finding what works best for you. You will never find a “perfect balance”, but your health is your wealth. If you don’t make the effort to take care of yourself, you will burn out, fast, as will your business.

The one thing that almost all successful entrepreneurs have in common is that they make reading a large part of their lives.

As many of you know who follow me, I’m an avid reader.

I believe that reading is a powerful learning tool. As an entrepreneur, I am always striving to develop knowledge that will improve myself, my business, and my team.

I make it a habit to read my Kindle every day while enjoying the breathtaking view of the Panama ocean. Sometimes I even re-read specific books so that I have a greater understanding of the content. When it comes to knowledge of any kind, repetition is the mother of mastery.

Currently, I’m reading a great book called, The Multi-Orgasmic Man: Sexual Secrets Every Man Should Know by Mantak Chia. As a man, learning how to separate ejaculation from orgasm is a very valuable skill to learn in life.

There are many different types of orgasms that men and women can have. You can actually channel your sexual energy and use it in different ways, whether that’s for increased energy or creativity.

When the weather is nice, Tatiana and I like to check out the Panama Canal. This is one of the world’s largest architectural accomplishments and by far one of the most visited places in Panama City. The Canal stretches for 48-miles and you can watch the ships pass by while enjoying the views and dining at some amazing restaurants.

When the weather isn’t so nice, Tatiana and I like to check out the MultiPlaza Mall, which is one of the more high-end, trendy malls in Panama City.

This mall is similar to what you would see back in North America. You can find all of the designer, luxury brands here, like Gucci and Cartier. In the mall, there are a lot of nice restaurants to check out as well.

When it comes to spending money, it’s so important that you know how to manage it.

T. Harv Eker teaches a very effective money management method, called the JARS System. He states that 55% of your income should be put towards your necessities, 10% towards your financial freedom, 10% towards long-term savings, 10% towards your education, and 10% towards fun.

Fun could be in the form of guilt-free shopping, which in our case looks like buying clothes and shoes at the mall sometimes. This is a reward for all of the hard work that you put into your job. As an entrepreneur, when you are adding a lot of value to people’s lives, it’s important that you celebrate and reward yourself from time to time.

The last 5% is put towards contribution, meaning that you give a portion of your financial earnings towards a cause or charity that you are passionate about. When you consciously practice abundance and live from this place every single day, it actually allows for more money to flow into your life.

When you buy things, that is an act of contribution in and of itself. It allows your wealth to be spread amongst others by supporting local businesses. Money isn’t just a thing. Rather, it’s a tool that can be used to create financial abundance, happiness, and security. If you view money in this way, your relationship to it will be healthy.

In the words of Marshall Sylver, “Either make your money work for you, or you will always have to work for your money.”

On the weekends, Tatiana and I like to dress up and go out for a nice dinner and enjoy the nightlife that Panama has to offer. Makoto is considered to be one of the top Japanese restaurants in Panama.

The sushi presentation is out of this world. Each dish comes out looking like a work of art!

The one thing that we miss most about Vancouver is the amazing sushi, but we’ve been lucky to find some awesome places in Panama that do not disappoint. Our favorite spot is called Miss Cho.  

Just because we go out on a Saturday night doesn’t mean that we sleep in the next day. Tatiana and I are committed to doing our morning ritual every single day. It sets us up for success. The gym is my sanctuary. It is the place where I get the opportunity to work on my mind and body.

I like to listen to audiobooks when I work out. I’m a big fan of the Blinkist App right now. These are 15-minute book summaries which allow me to re-familiarize myself with some of the books that I’ve already read.

The beauty of audiobooks is that you can read them while doing many other things, whether that’s cooking, driving or exercising. It’s an entirely different experience listening to a story than it is to see words written on a page. I find that it allows my imagination to expand. More importantly, I find that it’s soothing to listen to someone’s voice.

My brain is able to slow down and I process the story more thoroughly. I savor the content on a deeper level, instead of rushing through the pages of a book.

Moving to Panama right now felt like the best thing to do. Tatiana and I will probably live here for the next few years. When we finally find our dream home, we will move to the U.S. and create another new chapter in our lives.

If you haven't been already, I encourage you to put Panama on your travel bucket list!

I can't wait for the journey that is ahead of me. I'm even more excited to share it with you. Anything is possible in life if you want it bad enough. Never let anything or anyone prevent you from manifesting your dreams. Dig deep and do the work to make it happen. In the words of Margaret Drabble, “When nothing is sure, everything is possible.”