What I Taught My Employees About Money

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  • Опубликовано: 28 авг 2024

Комментарии • 112

  • @nomadcapitalist
    @nomadcapitalist  Год назад +3

    Looking to dive deeper into your Nomad Capitalist journey? Get an insider's edge with our R&D channel. Dive deeper into citizenship and tax reduction strategies, hidden wealth-building hacks, and innovative asset protection insights from our global network of experts.
    Don't Just Get Serious, Get Strategic: ruclips.net/channel/UCnWyI50_Cqtc55bLnJzyekw

  • @Senna007uk
    @Senna007uk Год назад +16

    This is the best video Nomad Capitalist has done. Please do more like this to help teach ordinary people how to save and invest so one day they too may become 7-8 figure entrepreneurs.

  • @chinaberg
    @chinaberg Год назад +61

    Yiu should start a personal finance channel.

    • @HeyMr.Johnson901
      @HeyMr.Johnson901 Год назад +4

      😂🤣 then that would be financial advice

    • @ghostwriter991
      @ghostwriter991 Год назад +1

      Facts like I'd like to know his knowledge on assets

    • @skydexx2940
      @skydexx2940 Год назад +1

      Great idea but maybe a good series on how to SPEND money in other countries 🤔 for different lifestyles

    • @EpicvidsKetti08
      @EpicvidsKetti08 Год назад

      ​@@HeyMr.Johnson901Roughly: this is not Financial Advice and here's some Financial advice

    • @carolinacadabra8278
      @carolinacadabra8278 Год назад +1

      Or, you could listen to Dave Ramsey!

  • @quantumleap7441
    @quantumleap7441 Год назад +18

    You are an awesome individual. A way out and a way up. Yes an AMAZING FELLOW.

  • @Dave-jh1zn
    @Dave-jh1zn Год назад +21

    Love the channeling of Trump at 1.18 😂

  • @Tee55118
    @Tee55118 Год назад +10

    Yes, work out a budget, include a budget for investments, and cut off greedy friends. Yes, cars generally are a lifestyle factor and quickly depreciating asset. Greedy friends are the worst.

    • @Tee55118
      @Tee55118 Год назад +1

      P.S., you also do have to change your lifestyle as circumstances evolve. Otherwise, you are trapped in a sort of financial version of Stockholm Syndrome, where you strongly and emotionally defend your kidnapper.

  • @ralphramirez1979
    @ralphramirez1979 Год назад +16

    I paid my home off 10yrs ago at 50. I live near a university. I added three rooms with bathrooms.
    I rent out the 6bedroom.
    A management co who specializes in students housing. I've been average six figures.
    Think of converting the two car garage. That's where my money is going.

    • @toddmaek5436
      @toddmaek5436 Год назад

      Nice

    • @dimmacommunication
      @dimmacommunication Год назад +1

      Wich state are you in ? if you live in a country with poor landlords rights renting is a nightmare.

    • @ralphramirez1979
      @ralphramirez1979 Год назад +2

      California San luis obispo.
      This city is more pro landlord.
      Outstanding management company.

    • @dimmacommunication
      @dimmacommunication Год назад

      @@ralphramirez1979 Here in Italy it's totally against LandLords , would never rent here.

  • @neilsbruno9842
    @neilsbruno9842 Год назад +4

    Amazing. All companies should offer their staff this course!

  • @colinweir3203
    @colinweir3203 Год назад +5

    Been watching your videos for a while now, been a big help to me. Im leaving Australia November to live in the Philippines. My brother has decided to come with me, he's selling his houses August, he used to run his own business and has a lot of contacts, who are becoming quite interested in what Im doing, one has quite a bit of money behind him,said he might back us, so Im trying to get as much knowledge as possible, Im good with languages, learning Tagalog at the moment, speak basic Spanish.

  • @simontenkate9601
    @simontenkate9601 Год назад +7

    Down to earth, practical advice ! Great. You know decades ago, most people knew this and many acted accordingly.
    But it is very good Andrew reminds us again! Stay out of debt, and especially pay yourself first is the way to go.

  • @contrary8880
    @contrary8880 Год назад +14

    Thanks Andrew! I am in the process of moving out of the US in the next 7-months. Your info over the last two years has been incredibly helpful. Appreciate you! 🙏

  • @user-ik2no7jw5g
    @user-ik2no7jw5g Год назад +5

    Thank you! This was very down to earth and helpful advice. I like that you care about your employees 😊

  • @eat_ze_bugs
    @eat_ze_bugs Год назад +2

    This is really sound advice that can benefit almost anyone especially for future entrepreneurs.

  • @TheKlink
    @TheKlink Год назад +1

    11:08 that's such a lovely design!

  • @Learned333
    @Learned333 Год назад +6

    No lottery tickets?! But Andrew, that's my plan to afford to be your client! 🤣

    • @nomadcapitalist
      @nomadcapitalist  Год назад +1

      @youknowbbaby
      I apologize for the misunderstanding and any inconvenience caused. At Nomad Capitalist, we certainly do provide assistance with citizenship by descent, and we are eager to help you with your citizenship journey.
      To get more information about our Citizenship by Descent program and how we can assist you, please visit our dedicated page at nomadcapitalist.com/products/citizenship-by-descent/?. You'll find comprehensive details about the program and the steps involved in obtaining citizenship through this route.

  • @curtis1397
    @curtis1397 Год назад +9

    I understand your target demograph is 7 and 8 figure entrepreneurs but I think you would get a ton of traction with 6 figure entrepreneurs looking to get there. I think the gap between the two is the hardest for people to jump and advice would be well received.
    As a tech entrepreneur I am trying to figure out where I should move so that I can start a company. Should I relocate or just open the business in another country? What are the most tech and blockchain friendly places? I have been eyeing Thailand, but am still looking what other options are.

    • @HughJass-jv2lt
      @HughJass-jv2lt Год назад +2

      🤣🤣

    • @Learned333
      @Learned333 Год назад +2

      He has a client cut off of either $500,000 pretax annual income, or $1M minimum net worth, so $500,000 is 6 figures.

  • @ArthurHenriqueBossi
    @ArthurHenriqueBossi 4 месяца назад

    Thanks Andrew, please consider doing more videos that can help normal people to become financially independent. I've been following you for years and your lessons have been invaluable.

  • @kotenoklelu3471
    @kotenoklelu3471 Год назад +1

    Tips:
    1. Be prepared for anything
    2. Start an emergency fund (start from 500/1000$ to 6-months emergency fund)
    3. Budget that zero's out
    4. No debt
    5. Pay the smallest debt first
    6. Pay yourself first
    7. Save raises - keep lifestyle
    8. Keep first investments simple
    9. Stick with your principles
    10. Long-term strategy

  • @sandykl
    @sandykl 11 месяцев назад

    I needed this. Love it!

  • @fabiogoncalves9728
    @fabiogoncalves9728 Год назад +1

    I know it is cultural in certain countries, but this permanent in-debt situation always terrified me. I grew up during in a country with crazy hyperinflation (like more than 80% a MONTH). My first concern was always to keep a zero debt condition and place the money on assets that could preserve value (and even offer some gain whenever possible). Even today, with 42 years of career (21 as expatriate), banks come and make offers to raise my overdraft limits...my answer: "why do you guys offer me an increase on the limit, when you know I never use it? I do not have credit cards, only debit cards. I live strictly from what I make." The only hypothesis I can contract a debt is when it is a programmed-self-inflicted debt" for tax reasons in certain jurisdictions, but the provision to pay it off is always there. Otherwise I wouldn't sleep at night.

  • @crypticnomad
    @crypticnomad Год назад +5

    I would recommend people stop using the word "money" and instead use "currency". The etymological root of currency is the latin word "currens" which also gave us words like current as in electric or water. This implies it should be moving and like water it is not a good thing for it to just sit and do nothing. Just as an example, if a person had taken $100k usd in 2010 and buried it in the ground or put in a 0% interest account that would buy roughly $60k usd worth of stuff compared to 2010 dollars. Meaning usd has lost about 40% of its purchasing power since 2010. Just to maintain the same purchasing power a person would have had to earn about 5%, a little less, compounding interest over that time period. It doesn't matter which fiat currency we're talking about because all fiat currencies lose purchasing over time and some are worse about that than others. Money kinda implies you get it and hold on to it with a death grip whereas currency kinda implies it needs to be constantly moving or flowing. This is an important fundamental mental shift imho
    In addition to thinking in terms of currency vs money I'd also suggest switching the value proposition from currency to time. Currency is virtually infinite but your time is for sure, without a single doubt, finite so your time should be more valuable in relation to currency over time assuming you're improving and not getting worse over time. As an example, I quit my last salary job in 2008 because I realized I was losing by going to work for someone else when I could be freelancing. Then just as an exercise I looked at the cost of my rent relative to an hour's worth of salary and noticed a disturbing trend. Over a 10 year period the total number of hours that took me to work at a salary job to cover rent each month had increased by nearly 50% despite nearly 100% salary increase over that time period. I prefer to not use a government's official inflation numbers and instead I use median rent and some multiples like 4. Meaning a person should earn at least 4x their rent and if we assume 160 hours a month that means an hour should be h=(r*4)/160. If you plot that against the median wage over time you'll see how working for someone else is on average a long term losing strategy.

    • @crypticnomad
      @crypticnomad Год назад

      ​@PatRisberg so I hold crypto and I'm an early adopter but deflationary currencies have potential issues. As an example, years ago I spent 50btc buying a shirt that said "I

    • @crypticnomad
      @crypticnomad Год назад +1

      I think the far future monetary systems, assuming we're still largely captialistc at that point, will have to have both a deflationary and inflationary component. Meaning something akin to your standard deflationary cryptocurrency like btc, eth, and so on as well as an inflationary currency similar to most fiat currencies. There could be two inflationary mechanisms like one being some fixed amount, or fluctuating, of interest based on the value of the held of the deflationary currency. For example, think of it like putting bitcoin in a savings account that pays interest in dollars. This would allow sovereign nations to still play that inflationary game of increasing sovereign debt while also giving the people a hedge against that. Either way we've entered an era of increased competition between governments. Fiat monetary systems are going to be forced to compete with decentralized deflationary monetary systems and trying to regulate into oblivion simply won't work now, it is too late for that and even for something like the US gov. In addition to that governments are going to have to compete more and more for talented populations of citizens.

    • @HughJass-jv2lt
      @HughJass-jv2lt Год назад

      @@crypticnomad
      I like your history lesson of *currency.*
      Yes... it needs to be in constant motion
      ❤❤

  • @HughJass-jv2lt
    @HughJass-jv2lt Год назад +2

    Fun segment!

  • @dabarbarah
    @dabarbarah Год назад +1

    Excelent advices 🙌🏻 thank you!

  • @RawOlympia
    @RawOlympia Год назад +1

    Thank you for the inspiration ~ invaluable chan!

  • @blayzertrayl8929
    @blayzertrayl8929 11 месяцев назад +1

    Such a rational person. This is the perfect guy to follow. Why anyone needs to follow Andrew Tate.. when u got people like Andrew Henderson... Is beyond me. Ideal role model and advice giver.

    • @nomadcapitalist
      @nomadcapitalist  11 месяцев назад

      Thank you for the kind words and support!!

  • @philg4678
    @philg4678 Год назад +2

    look at the book the Richest man of Babylon and the rules of gold.

    • @chadtabary
      @chadtabary Год назад +1

      Love this book.

    • @philg4678
      @philg4678 Год назад

      @@chadtabary should make a movie

  • @duffyfuck1
    @duffyfuck1 Год назад

    Really nice tips! Thank you for great content

  • @Realdavidjeremiah
    @Realdavidjeremiah 8 месяцев назад

    The impromptu Trump impersonations are hilarious and always on point. 😂

  • @awakeningministries
    @awakeningministries Год назад

    I don't have 7 or 8 figures yet.. But I will and I'll be calling you

  • @socialdiving2305
    @socialdiving2305 Год назад +1

    From paying out your iphone loan to acquiring some s&p500 and pushing that same button in your regular hussle)

  • @Johndoe-qn9jr
    @Johndoe-qn9jr Год назад +1

    Do a video of how your riches client invest hopefully they are billionaries. Thank You

  • @skydexx2940
    @skydexx2940 Год назад +1

    His trump voice when he said schools gave me a good chuckle lol 😂

  • @franciscorbin2036
    @franciscorbin2036 Год назад

    Yep, I feel the same way about Pup-Pup. I just wish she'd learn to close the door when she comes back in the house. (She figured out how put paw on handle and open door but not push it shut)

  • @dl5270
    @dl5270 Год назад

    1:20 I love how you do Trump's voice randomly, lol. Bernie Sanders I think I heard you do as well. Oh, and thank you for the video - enjoyed it as per usual!

    • @nomadcapitalist
      @nomadcapitalist  Год назад

      Thank you!

    • @dl5270
      @dl5270 Год назад

      @@nomadcapitalist you are welcome, but no thanks necessary, really. Thanks (in part) to your videos I ended up in South America last year. I spent 6 months in Argentina, exploring the possibilities and also in Uruguay. Completely agree on your take on Uruguay - nice, but expensive (or "higher price point" if you will), but stable and VERY boring. We ended up absolutely loving Buenos Aires and my wife and I are considering it for a future residence. During the trip I have acquired quiet a few useful connections in the area (South America, just like Latvia where I am from, or any country form the ex-Soviet sphere is all about "connections", as I am sure you know), so feel free to ask for a pointer or two! Thank you again for your videos!

  • @leisurelypaice
    @leisurelypaice 5 месяцев назад

    Would debt free include student debt? Im in the UK, but considering my options to live in other countries as a videographer. Would it be worth erasing my student debt prior to moving or putting my savings towards a future elsewhere?

  • @hemantparakh6462
    @hemantparakh6462 Год назад

    I wish to move out with my Solar Buyings and online Courses so kindly suggest a suitable plan for me to move out

  • @tlesta666
    @tlesta666 Год назад +1

    2nd the best i guess

  • @ricksilver55
    @ricksilver55 Год назад

    Interesting video bro

  • @jamalgreen3056
    @jamalgreen3056 Год назад +2

    One of the first ones here

  • @matthawksworth
    @matthawksworth 10 месяцев назад

    Just bought an alcatel off Amazon for $60, does what I need it to

  • @jeanvonbarberode2377
    @jeanvonbarberode2377 Год назад

    I grew up in Czechoslovakia during the communism and everyone in the secondary schools had economic education, I live in Australia now and I am shocked how Australians are financially uneducated, most have debts and mortgages and young generation has an issue to save 20% for deposit, I was able to buy first home in Melbourne after 3 years after my arrival. Many of Australians have 3 credit cards, they buy everything on loan even a car for 15K, communists maybe did not offer too much moving freedom, but they provided 1class education for free and for everyone! 13:18

  • @wichawt3079
    @wichawt3079 Год назад +5

    you still hiring?

    • @nomadcapitalist
      @nomadcapitalist  Год назад

      Hi, you can see our open positions here: nomadcapitalist.com/careers/

  • @scottyflintstone
    @scottyflintstone Год назад

    01:27 nice

  • @Sieteeight
    @Sieteeight Год назад

    Which Banks do you recommend overseas and which countries ?

    • @nomadcapitalist
      @nomadcapitalist  Год назад +1

      Hi there, here is an article about The Best Offshore Banks for 2023: nomadcapitalist.com/finance/offshore/best-offshore-banks/#:~:text=Premier%20Banking%3A%20DBS%20Treasures,next%2Dgeneration%20robo%2Dinvesting.

  • @harveytaylor0101
    @harveytaylor0101 Год назад

    Yes 🙌🏾

  • @gaeldesmontagnesnoires1711
    @gaeldesmontagnesnoires1711 Год назад +3

    Should have told them to convert $1k every month into BTC..

  • @harisadu8998
    @harisadu8998 Год назад +3

    Looks like some Dave Ramsey here

    • @tom5083
      @tom5083 Год назад +1

      If it ain't broke...

    • @johng4093
      @johng4093 Год назад +1

      I like that he gave credit to DR, shows a mature outlook. To some degree these ideas are just common sense, but common sense isn't that common.

    • @harisadu8998
      @harisadu8998 Год назад +1

      @@johng4093 He also admits that he has a protestant mentality and ethic. That's sort of where Dave Ramsey comes from as well.

  • @nickfreem4n
    @nickfreem4n Год назад +1

    Hey Andrew, could you make a video about what you sacrifice living your trifecta lifestyle in those cheap countries? I bet you miss a lot of networking since there is a minimal amount of successful people lives, plus service is also not good. You save a lot, but you miss the networking part, and IMHO living in expensive cities pushes you to work harder.

    • @Learned333
      @Learned333 Год назад +2

      He lives in Dubai, Belgrade, Istanbul, Kuala Lumpur, Bogota, and Mexico City. What lack of networking and servicing are you talking about?

    • @nickfreem4n
      @nickfreem4n Год назад

      @@Learned333 what kind of service or networking you get in Belgrade, Instanbul, Bogota and Mexico and KL?

    • @nomadcapitalist
      @nomadcapitalist  Год назад

      He doesn’t live there because they’re cheap, but he did cover it here: ruclips.net/video/kMcERRN4fJk/видео.html

  • @rjmaas
    @rjmaas Год назад +1

    S&P 500 ETF has lower annual fee compared to an index fund. For the rest: great advise.

    • @MH-et5sn
      @MH-et5sn Год назад +2

      That is an index fund....huh?

    • @user-ww1wh3wz5d
      @user-ww1wh3wz5d Год назад +2

      The s&p 500 is an index

    • @HughJass-jv2lt
      @HughJass-jv2lt Год назад +1

      @@MH-et5sn
      🤣🤣

    • @Learned333
      @Learned333 Год назад +1

      There are no index funds. There are ETFs (Exchange Traded Funds) based on an index, and mutual funds based on an index. Most people use the term "index fund" to refer to ETFs, and not mutual funds.

  • @ericjames7819
    @ericjames7819 11 месяцев назад

    Employees who want to "share the wealth" of a business also need to "share the risk" of their own capital.

  • @edeancozzens3833
    @edeancozzens3833 Год назад +1

    Where can American men go to find women who they can trust to marry, who will make a team, and where that country's divorce laws won't set him up to be robbed?

    • @nomadcapitalist
      @nomadcapitalist  Год назад

      Hi, hope it helps :) ruclips.net/video/2giCInGQlA8/видео.html

  • @robbie609
    @robbie609 Год назад +1

    ha i am worth x and drive a $10k volvo ! thats ten years old

    • @Learned333
      @Learned333 Год назад +2

      I hope you just bought the Volvo and someone else owned it for those 10 years of depreciation 🤣Otherwise...

    • @robbie609
      @robbie609 Год назад

      @@Learned333 Bought second hand a 2011 model for $10k and pretty sure its gone up in value since I bought it!

  • @proadlekopy
    @proadlekopy Год назад +1

    Get a good xiaomi

  • @chuckstrickland4582
    @chuckstrickland4582 Год назад

    ✌️😎👍

  • @katarzynakapusta2525
    @katarzynakapusta2525 Год назад

    I'm sorry but how are you sure all of this has not already been common knowledge among your employees? Seems likely to me... And how about living with your parents at 40 in... the US? This is even a little less uncomfortable than in the developing countries (where it tends to be crowded in the housing department), exactly the same level of cringy and embarrassing, but just look how much you can save this way! I bet people really, really enjoyed the presentation.

  • @chadtabary
    @chadtabary Год назад

    Wait what? Stash something on the side, budget, minimize debt, and invest? GTFO 👀😉

  • @blackopal3138
    @blackopal3138 Год назад

    I say this with the love of a friend lol, I laugh, but seriously, with love.... your consciously developed animated speaking style, has become a facial twirtch, which can be consciously undeveloped, very quickly if you know about it. .... Also, Imo, which is an enlightened opinion, lol, your particular model of spectacles, weakens your presence. Meaning, from what I know of your personality, your glasses would under represent you, upon meeting you. For myself. Idk if that is clear, lol... I think, maybe, they would make me question whether your ideas were bound to lead to success? They don't eschew success, lol... They make you look like, ummm, ok, NOT look like a tiger, but an accountant from Minnesota. lol Idk, dude.
    Peace

    • @Tee55118
      @Tee55118 Год назад +2

      Hey! My tax accountant resides in Minnesota! He doesn't always do the best work on my tax return; but, he keeps me out of jail. I don't trust myself.

    • @jessiesheldon-huffey1824
      @jessiesheldon-huffey1824 Год назад +6

      These things help make Andrew unique and memorable. Don't change a thing Andrew!

    • @johng4093
      @johng4093 Год назад +4

      People come for the ideas, and he inspires a lot of people. And honestly, I like him the way he is.

    • @Travelingforlife
      @Travelingforlife Год назад +1

      What a load of crap! You are hyper conscious! I'm focused on his message so I don't notice!

    • @blackopal3138
      @blackopal3138 Год назад

      @@johng4093 Lol, I don't think he needs to be defended from love. I agree with everything you said, including, liking him the way he is. Can a person believe that, and also believe everything I said in my comment? You're just going to have to open your mind a bit. ...
      What's wrong with giving an opinion to a friend on a look? Or pointing out a fact which they may not be aware of, because you think they would like to know? But making zero judgement, nor in any way does it carry a suggestion of less acceptance. That my friend is love. Withholding opinions and observations is neither love, nor healthy behavior.
      Absolute Truth - I just got a suggestion from the algo, for a video on toxic positivity. Seriously it is right above your comment, the next notification. I actually clicked on it by mistake, before clicking here. Just sayin....
      Peace
      Maybe this will help... would you give your partner suggestions what to wear, if they were invited on the Tonight Show? What your favorites were, what you get excited seeing them in, when you thought they looked the best, what you thought represented them best?

  • @monkeynomics8995
    @monkeynomics8995 Год назад

    Lol what is this..

  • @rljohnson776
    @rljohnson776 Год назад

    HAHAHA - money isn’t everything right.. getting my employees thinking that way, I can shaft the employees paychecks and keep the lions of the cash for myself.. and that’s the standard capitalist mantra and mentality….

  • @proadlekopy
    @proadlekopy Год назад +1

    Get a good xiaomi