Where to Move with High Net Worth but Low Income?
HTML-код
- Опубликовано: 17 июл 2024
- nomadcapitalist.com/
Where should you move if you have sold your company and are living off of savings and not your income? In this video, Andrew answers a viewer’s question and discusses living with high net worth but low income and what you need to consider when deciding where you want to move, live, and retire.
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
Work with Andrew: nomadcapitalist.com/apply/
Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.
Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
About Andrew: nomadcapitalist.com/about/
Our Website: www.nomadcapitalist.com
Subscribe: ruclips.net/user/subscription_...
Buy Andrew's Book: amzn.to/2QKQqR0
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
I did the research. If I am pulling $25000 annually in US Social Security, I can live in nice parts of France, Mexico, Taiwan, Morocco, Turkey, Malaysia, Romania, Portugal, Philippines renting as a tourist with three to six month visits if I cannot get an easy residency. Although in the case of Mexico and Taiwan I probably can. Can even save money and not touch inter-generational savings. I can rent my house in US as supplemental income and hold it as a card to play if I ever chose to return in older age or for geopolitical necessity. Rent in each place is below $1000 with all utilities included. Healthcare is far cheaper than USA. Car is optional mostly. No tax implications virtually.
The Money GPS mentioned you yesteryear Andrew, it was refreshing to hear The Nomad Capitalist and go where you're treated best!
Dude is a permabear and perma-doom n gloomer. He's making bank from you fools watching his doom and cynicism. Look at Andrew, positive and solution oriented.
The Money GPS suffers from extreme schizophrenia. He uses fake news and fake economics to convince his audience that the end is imminent 🙄. Please keep that reference off this channel
@@Big_delta Agreed. All of MoneyGPS subs are going to wake up one day and realized they wasted 10 years of their life, became bitter and cynical, for no benefit to them 😆
You people with all of your feelings and opinions as if its digital currency Give me a break. The GPS is Brilliant but that's my opinion and you have yours. GREAT! WHOM TF CARES👍🏼 you boys look like men too emotional and too emotionally attached! Desperately searching for emotional hormonal support, aw. Take care.
I've recently read a couple of your articles about agriculture and it really opened my mind to that possibility. I definetly wouldn't mind if u were to cover it on the channel
Very good question. Especially due to crypto I expect a lot of people to have suddenly acquired a lot of wealth lately, and maybe quit their ordinary jobs... so no income, high net worth.
Exactly 👍🏼
If even one of my crypto holdings (hypothetically) take off I will have that problem.
Under the circumstances you outline in this video, Malaysia is very hard to beat, especially for an anglophone. However even there they require proof of a reasonable iincome (substantial for me in the present low interest rate environment) before one can get the long term visa. That is despite having ample retirement savings sufficient to buy a comfortable apartment in Kuala Lumpur and live at a good daily standard, including health care. Therefore I moved to Thailand 13 years ago where I only need to maintain a bank deposit of around $26,000 (US) as things stand, to qualify for the retirement visa. As it is I probably keep around $100,000 in Thailand to cover all contingencies, as well as owning an apartment. In the present financial environment and given my age (72), I keep almost all my other funds in corporate bonds in my home country, plus a small additional income from keeping my house there tenanted. Still, none of this qualifies me for that Malaysian visa, so have to content myself with regular visits (or did, before Covid 19). I think the Malaysian visa is mostly geared to wealthy people from China, or older westerners who have some sort of continuing business they can conduct online. I am happy in Thailand, but occasionally miss a more English speaking environment. Also, Malay is a much easier language then Thai. All the ethnic Chinese and Indian population in Malaysia are fluent in English, and are extremely friendly and decent people. No extremism or anti-western undertones. Nor does the country have a post-colonial chip on its shoulder. Prosperity and general tolerance has made them proud of their country, and ironed out most problems.
I know your focus is on high net worth individuals but it would be nice to have a video on the average person and how they can benefit from moving abroad and living a nomadic lifestyle with under $1 million.
go to cheap places like 👍 Indonesia, India, Guatemala, Ukraine, Bolivia, Argentina, Morocco
He has 2 videos of places to live under 1000 dollars a month. The second one is only places in Africa, the first one is more global
@@guilhermesalesferreiradaco2934 I'm more interested in Georgia. I need to at least visit there soon. How crazy are they with covid lockdowns?
@@johnpdd I went do a quick research and it seems weird. While the world was in a lockdown from March 2020, Georgia was having daily cases in the single digits. In fact it appears their first death was in September 2020. That's crazy. It also appears they didn't impose lockdowns but closed some sectors like hotels but from what I've read it's reopened since March 8th. Knowing the fundamentals of the country, even if they decide to take some measures u'll have an easier time there than wherever you're from.
5 steps to a great quality of life:
1 become debt free
2 reduce fix costs in your private and business life (flexibility vs growth)
3 find a great place to live
4 invest in yourself and in your business
5 enjoy life (pay attention to work life balance)
@@dgs931 I found my home in Costa Rica (after growing up in Switzerland and living in New Zealand and the US). I guess it is personal preference, and also it depends on your situation. I can give you infos about the mentioned countries.
However, I also believe that you can have a great place to live wherever you are. Most people do not make the most of their current situation, but always striving for something completely new. “Feel appreciation for what is.... and eagerness for what is coning”
@@asamanthinketh5847 what do you think about Panama?
@@scachan331 I dont know enough to give you a good advice. It looks like a good place to live and Panama city looks business friendly.
@@asamanthinketh5847 thanks for your reply. I am still researching on a suitable place
@@scachan331 a place for a physical business or just residence?
It's not 'leaving' money in the bank Andrew....one can be fully invested in markets (for example) and just draw down living expenses as and when needed. So it's not giving up. Therefore, we need to know what countries are friendly or not friendly to living like this tax-wise. But thank you as always for your POV. Cheers
Always Great content!! Costa Rica very nice place to retire, bit pricey in some areas but worth it!! Pura vida!!
Agreed! Costa Rica is a paradise! Here you have everything you need.
It handles covid very good (pretty much everything is open, police & people are relaxed about it (especially on the beach area)).
Thank you so much, because this is about to be me here in the USA.
Hey, here's one for me! I would immediately cross off places with gift taxes, inheritance/estate taxes, wealth taxes, and high property taxes. As well as consider the "culture of confiscation" that he talks about. Many places fit all of the above. Also pay attention to dividend and capital gains tax. In some places you can pay 0% CGT or close to it with a low income, in others it might be taxed as income in a 48% tax bracket. Huge difference there. Why not Georgia? I would say Georgia and hop on a cheap flight to wherever you want in Europe whenever you want some luxury. Great plan. Go to France for a meal and to go to the dentist.
@@dgs931 I noticed in your message to Andrew that you are from the UK. I have the dilemma of being low income/high(ish) net worth and in UK too. My personal SIPP pension is growing well in excess of the UK 'lifetime allowance tax' which means getting hit with 55% tax on anything over that threshold. Now the powers that shouldn't be are threatening a wealth tax on top of that. I am considering a move to Asia in a territorial tax country (e.g. Malaysia, Philippines where I have previously enjoyed the lifestyle) and drawing down the pension without being hit by income tax. Don't think I can escape the lifetime allowance hit though. Unfortunately said countries appear to be suspending their retirement schemes at the moment. Paradoxically, Andrew suggests in the video at 7:07 that the UK can potentially offer tax favorability. What's your situation Dieter?
Awesome to hear you moved to KL! I lived there for about 6 months. Loved the place and would go back for a longer period of time once my investments can cover my costs.
Good talk Andrew. Not all high net worth people want to live a lifestyle of 5 star opulence. Some of us have created our wealth by not expanding lifestyle when earnings rose (i.e. FIRE). Retirement often creates conflict between lifestyle and income and its resultant effect on wealth preservation. Wealth and lifestyle can be mutually exclusive, and the thought that Nomad Capitalist did not understand this has held me back from considering your services.
You didn't want to pay the $60K, don't blame you.
I imagine that in the same way that renouncing US citizenship gives one a new perspective on the world, actually retiring and living on passive income must give a new perspective on time and money.
I'm not the type of person who needs to live lavishly. If I had such passive income, I would just make sure it's enough to live comfortably **after** taxes in a country that I find interesting, even if it isn't the lowest tax rate in the world.
There we go. Value-added. Thank you for addressing this question.
thanks mate, your channel is a breath of fresh air
any destination advice for a high income low net worth individual with a big family, constantly ripped off by income taxes?
Thanks for this video. This analysis fits my situation but with low 6 figure income per year.
hi Andrew, any chance you can do a video on your Bogota apartment. It seems you updated really nice. In case you already did this .. my apologies for the request. Have a great day!
Well, it depends on very many variables. 10 million conservatively invested will give you around 300K a year. With the kids gone, a couple in their mid to late fifties can live comfortably on this kind of income.
There are many developed and cosmopolitan places on the planet, where people like this are treated well from a tax perspective. Certain Swiss cantons have very low taxes for these income levels, and if you own your place there, life can be very rewarding.
There are also many EU countries that treat certain types of income (dividends, shipping income) in a preferential way, charging minimal taxes. Careful there, as lifestyle in certain cases is also taxed as Andrew says.
It is rare that one can manage all this by permanently residing in one single country, while retaining a western lifestyle. So you need to have more than one base, and also have the option to move to the Caribbean if things get tough.
But I wouldn’t take the risk to start eating on savings, no matter how substantial they are, even if I were in my mid 70s.
Brilliant!
yes, example I won $5M in a lottery, where is the best and safe place to go? thanks!
Book receipt. Greetings Andrew I received your autographed book today from the Christmas charity promotion.
Much appreciated.
God bless your kindness upon the world. It is a worthy trait of an individual to keep perspective on what really matters in life.
Thank you so happy to hear it.
@@nomadcapitalist already enjoying Gulliver's Travels.
Good job buddy. Thank you for sharing
Andrew,
Excellent video. You gave the guy an outline for how you would approach answering the question for himself. So many people do not want to think for themselves these days. They simply want someone to give them the answer in 10 minutes or less.
That being said, my suggestion would be for him to check-out Mexico. You can live as cheaply or as lavishly as you want there. Many North American expats retire there and live on nothing more than their social security or Canada Pension Plan benefits. Others live lavish lifestyles in high end condos or beach front houses. Some live in small towns, others prefer large metros. You can enjoy a simple meal at a local taco stand or eat at that high end French restaurant serving over-priced pigeons.
My question for you Andrew is how you would approach diversifying a 7-figure net worth out of US based assets and into income producing assets around the world. I want to generate a high income off of my 7-figure net worth but do it while safely diversifying outside the US.
Regards,
Troy
@@dgs931 My apologies! I should have been more cautious and not have assumed that you were one of the "can't think for yourself crowd". However, I do see that a lot when reading comments on various forums and other social media sites. Lots of people just want the quick, easy answer where one doesn't exist.
I spent a lot of time doing due diligence before deciding to retire to Mexico. I also looked at Ecuador, Panama, Costa Rica, Belize, and to a lesser extent, Nicaragua.
Have to disagree with you re. "a higher ROI always attracts high risk". I earn very high returns on my capital in what I consider moderate risk investments. The key, in my opinion, is one of due diligence and education. Don't invest in what you don't know or don't understand. I suspect Andrew would say the same. Some people undoubtedly would say his overseas investments are very high risk, but yet I'm sure he feels they are relatively low risk.
Again, my apologies, I meant no offense in my earlier comments.
Regards,
Troy
@@dgs931 Are you on FB or LinkedIn? If so, find me and send me a message there where we can continue discussing specifics in private. I don't care to reveal any more specifics about my personal situation in an open forum. However, happy to share more one on one.
Hi there.. UAE introduced new citizenship programme.. Can you please have a video on that?.. Thanks for the channel.. Please have a look into South Africa.. You will send a rather sizable market for your business. Keep up the good work!
Once you can earn passive income that you can't fully spend bc you have everything what you wished for, to me that's real freedom. Guess what i'm trying to do.......
My approach was to be debt free which I achieved. I dont have any passive income but being debt free is a game changer. Think about it...
My situation starting at age 44. Wish I lived in a freer world now that I am financially free.
Appreciate your perspective Andrew. Had never thought of Turkey as a potential real estate investment. What is your view on tax in Turkey for someone wishing to purchase property to possibly retire there full or part time and then drawing upon dividend income from U.S. accounts to fund that life? My question is what then in terms of Turkish tax liability; would one be placing themselves into an unnecessary net?
Thanks again and good luck!
Not a good tax base
@@RomilCPatel Thank you.
Literally just invest in a good s&p 500 mutual fund and take out 4% annually and you will never run out of money. Live in a place that has no capital gains tax or low capital gains tax and preferably with a low cost of living so your 4% goes farther. if you have 1 million dollars that's 40k a year which doesn't go far in the Uk but goes pretty dam far in Malaysia and other low-income safe countries.
I'm sure most people here know about this stuff but figured I'd mention it incase someone didn't know
The 4% you mean as a dividends? Thanks
@@Timithos no it won't it averages a 12% and it always goes up even at it's all time high it still goes up
You could also just open up a Voyager/Celsius/BlockFi account, buy USDC (US Dollar Coin), and earn 8.6% - 10.5% in annual interest. I just opened up a Voyager account and I'm earning 9% interest on USDC.
@@Timithos dude if you pull out 4% annually that takes into account market fluctuation and inflation and still grows beyond that. Why would I not invest just because it might crash I'm not going to invest based on my emotions and what could happen if rather invest in what probably will happen. Life is risk and the only way to get rich is by taking risks
Excellent video. That is my situation.
Glad it was helpful!
What a great question!
Thanks for the great content, Andrew! I need a "hideaway" for times when governments try to excessively limit my personal freedoms. Are there countries like that anymore or are we living in a global village where the rules are pretty much the same everywhere?
Look for Paul the Agorist in Mexico... he's creating villages all over
@Mister Lau sadly you are correct.
@@jujubee9422 I am glad I am old and have no children. Never expected the demise in my own lifetime.
@@laurayale369 you are lucky then! My children are inheriting a nightmare!
Sabine, since you're an eight-figure income earner you can buy an island or lease it, so you can have all the freedom you want.
I hope you maybe think about putting together a report on which countries are going to require vaccines because there are millions of people, like me, who have a pile of money but will never get the jab!
I went through some serious liquidity crunches between 2019 and 2021... bet all into a single stock... then in the final quarter of 2020 made a second bet that again involved 90% of my net worth. Even still making extremely well from work it was a time where I was acutely aware of spending because it was perfectly clear that anything costing above 500k would probably need some sort of financial engineering if I didn't want to touch my investments. But all is good now and fortunately I can spend a couple years out of the markets without batting an eye.
90% in one security, wow. I’m glad it worked out.
@@JamesSmith-qv9qo Like the late Prez Trump used to say in the days of yore... it is what it is. And obviously it was 90% because I didn't burdened my real estate portfolio with debt in order to further that bet. Now that would be a very high-stakes game of chicken with the markets.
Great Video!
Thanks!
Shouldn't be hard to generate a comfortable amount of passive income in the 7 figure wealth range.
I love your videos so much!
The Nomad Capitalist does it all.
great video as usual Andrew, now what about the opposite, people with low net worth but high income like financial markets traders :)
Andrew, I sent this to my wife. Thank you for this video. I think many of us really appreciate the Pro Bono work you do. Peace.
At some point, could you please talk about multi-citizenships, and the countries that do not allow this, that otherwise might be a good residency Visa only?
Hi Andrew,
My wife and I love your helpfulness in your videos. We are both retired teacher's that love Africa. We have limited income, but would love to have a second passport that gives us access to Africa. Also, we love Tanzania and have taught there briefly.
What country would help us with a passport to Africa should the States try to keep us from going. We would gladly live there on our retirement.
Just want a way to not be forced to stay here..
Would love to attend the conference, maybe next year!
Where can one go for yield?
This is not your best video. You didn't fully answer the question with very good recommendations and you tried to reinterpret the question to suit your narrative. There are tons of older folks who simply don't want to invest and generate income, so where should they go. Please give me your top 5 countries
What about the opposite situation? Where does someone go who has high income & low net worth?
What do you have for a person who is living on a fixed income / social security disability but still has a passion to open their own business or invest to try and get ahead?I'm not trying to get real wealthy but I want to make enough income to live a decent life and possibably travel? I just want a nip... I don't want need the whole plate. I just want to be able to make money to live and not have to worry about getting evicted or if I buy a dress, my lights are going to get turned off next week.
In Dubai you could get $0.50 shawarmas...
it would be good to know a spot where to buy distressed properties in Eastern Europe. I'm hoping that these lockdowns and over-reach of government will have the benefit of some cheap property deals. But some places like Montenegro might be people who can afford not to lower prices and don't have mortgages on anything they own. Thoughts?
"They pull the thing off and show you the pigeon." I almost spewed brandy all over the electronics! Hahahahaha That was fabulous.
I almost destroyed my electronics as I spilled my San Pellegrino all over them
I almost destroyed my one electronic device by spitting my drinking water all over it
Luckily I was not drinking a beverage when I heard Andrew state this. Painted such a picture! He knows his French!
I don't know if you have no heirs to leave the money to and enough to live on for a couple of lifetimes, why not spend it all without a significant ROI? Why should you leave a penny behind when you die?
If you have family....
@@carlitoselcremita7816 ~ Leave them memories ☺👍
Agreed. Hence, u see people r not having children anymore.
I had a boss once that said 'never be worth more dead than alive'.... great advice. 🤣
This. No kids and my elderly mom has passed. Nieces and nephews being raised in an affluent lifestyle I could never have dreamed of. When my husband is ready to retire then selling my business and going wouldn’t bother me. I will sound awful here, but I don’t care: I despise the obese-sportsmad culture here anyway. When I have left the country and returned I am always shocked by how fat everyone is. Each time I go, even Nicaragua, there is some spirit left in people: some entrepreneurial “mmmph”.... I would love to return to Uruguay but I fear all the spillover from Argentina, another beautiful place being ruined by poor governance.
I guess the question from Dieter was which countries have low or no wealth tax. E.g. most countries in Europe tax your wealth/capital, whether it are properties, stock, cryptocurrencies and/or savings. For example: in one of the European countries they assume you make 5,69% gains on your capital. This assumed gain is then taxed with 31%. So the question is which countries can you make your residence and have no or very low wealth/capital tax??
If you think Nomad Capitalist is only about taxes, there you have it.
No gritty middle of the road beach towns with Michelin restaurants and 5 star hotels? Rio de janeiro
@@dgs931 all good. I like a good deal about Russia, but difficult visas. Ukraine has lots of Slavic history and similar geography. Love Ukraine, but never winter there again, and not Russia either
I would like to lead a life style of four Antiques by moving abroad SO kindly suggest what is expected from me to fulfill my dream of moving abroad
we should be careful on money useage,if you are not spending to earn back,then stop spending.
How about simply renting cheaply ?
High net worth is relative but lets say your sitting at the lower end at 600K , easy to actively manage this into 15% APR which = 90k, not too shabby and more than needed for many of these locations mentioned.
But as your net increases its likely one would take less risk and buy fixed income which is not actively managed as I do, maybe yielding 8% APR on 1.2M for argument= 96K again not bad at all.
How to get 15 percent
@@kyotoflavor9359 .. High yield ETFs.. MLPs..Reits..are the thing now..
CRF..CLM..ORC..PSXP.. etc. and most importantly the swing trades... Its how ide roll..
@@dgs931 i know you said no crypto. but you can get an APY of 10, 12% on stablecoins (that are tied to the dollar, so no fluctuation)? you can't get such a ROI anywhere
I never hear you talk about living or investing in Liechtenstein or Luxembourg. Why
What lump sum tax exists in Gibraltar? You mentioned it.....
Some of the best deals ever done we're at an Taco Stand...Just like some of the best song's ever written came from toilet paper while on the Shitter...Viva La Taco...🌮🌮🌮🤘🤙🤟
Great question. Great answer!
Glad you enjoyed it!
@@nomadcapitalist I'm enjoying every single video from you. Very interesting insights into a world of its own. Besides it's the world of the (very) wealthy, you've got the ability to explain it in a very casual yet very professional way. Appreciate it.
One day I will be able to eat at the French place in France where they take the plate off and show me the pidgin!
60% of the video has no info ... Why don't you name the country and then explain?
If you have wealth and that wealth is not generating income, something is wrong.
Money is a great servant and a terrible master. Make it to work for you, not you for it.
Wealth of information.
What’s your opinion on Thailand? Places like Chiangmai or Koh Samui..
This is not opinion, this is advice from people who live in Thailand I've seen repeated numerous times by various people. You don't want to be in Chiangmai during the burning season. So maybe Koh Samui when the farmers are burning fields to prepare for planting?🤷🏼♂️
@@jeremyleonbarlow exactly what I was thinking. Have a spot in both for that reason.. instead of a snowbird, one would be a “fire bird”. But as far as economic and tax reasons, how high up is Thailand on your list of solid options to retire, live freely and be treated good?
@@TrueEarth369 Thailand has territorial tax so if you are not working and your passive income is earned outside Thailand as long as you keep it in a bank account outside of Thailand the year the dividend is paid, my understanding is the money will not be taxed because they use a remittance based system as well. Thailand has a few double tax treaties with some countries which may also prove beneficial. If you are not an American, but you have US dividend paying stocks for example, I think the Thai treaty will reduce your withholding rate in the US from 30% to 10%. In other words they may or may not be as beneficial as some other countries, but they are not bad. As I understand it, in SEA Hong Kong, Thailand, the Philippines, Malaysia, and Singapore all have a territorial tax regime. In Latin America, Uruguay, Paraguay, Nicarauga, Honduras, Panama, and Costa Rica are territorial tax jurisdictions as I understand it. To a degree, ie no CFC rules, Ecuador is as well if you are not taking money out of a company that is based overseas, but Ecuador has some exit tax risks and does tax worldwide income of individuals. St Lucia in the Caribbean along with Belize in the Anglophone world of the Caribbean are territorial tax, as is Dominican Republic in the Latin American Caribbean. Georgia in Europe/Asia depending on where you draw the line, has a personal territorial tax regime, but a worldwide tax for local companies. On the zero tax front you are looking at Turks & Caicos, the BVI, the Cayman Islands, Anguilla, -for personal income only Antigua & Barbuda, and St. Kitts & Nevis, but their management and control rules regarding corporations may bite you without proper planning. You have Monaco, St. Barthalemy -with some exceptions for zero tax options, Vanuatu as well. Then you have the Gulf states, UAE, Bahrain, Qatar, Oman, Saudi Arabia, and Kuwait, but only some have realistic residency options. If you want low tax, Barbados is good for companies, but not so much for individuals. Labuan likewise is good for companies, but I'm not as sure it works in terms of living in Malaysia. I would want advice from local tax counsel about the treatment of dividends & salary paid by a Labuan company to a resident of Malaysia.
Then you have Lump Sum tax countries or lump sum tax countries for travelers with Anguilla, Gibraltar, Malta, Switzerland, Jersey, and Guernsey in the Channel Islands. There is also a lump sum regiment for Italy, and there is a 10 year NHR in Portugal that may be zero tax if you have the right circumstances in place.
My take is with the right planning SEA provides great options for low or no tax living. If you are somewhat nomadic ie not anywhere for more than 4 months a year, then the territorial tax countries would be great and making a St. Kitts or Antigua your country of citizenship and spending a month or two there may provide you a tax residency certificate if you need it with a bank that is helpful, otherwise in the right circumstances even less time in Georgia may give you one. With the right lump sum payment like 1 month a year in Anguilla will get you.a tax certificate if you aren't in any other country more than 183 days a year. Antigua has a similar deal for non-citizens. Malta has such a deal too. Cyprus may have some non-domiciled residency benefits I haven't quite figured out yet myself.
There are a lot of ways to play it, but I will say if your business is structured properly, and you are not actively working in the business Thailand has some potential. If you are working in the business, with the right structuring Thailand could work, as long as you comply with foreign branch rules and hire enough locals to get you a work permit. But it is going to add the expense of transfer pricing studies and may be a giant PITA, although it may be worthwhile. If such a scenario is necessary, ie you working for the business, then a Labuan company in Malaysia might put you in a 3% tax bracket. The Philippines would have the same PITA regarding transfer pricing studies that Thailand would have.
Of course if you are living on portfolio income and dividend from publicly traded companies, that is a different story.
Hey, You can find my opinion here ruclips.net/video/PTRpiylpczc/видео.html ruclips.net/video/Int_fg7AWew/видео.html ruclips.net/video/TkC7JP2houY/видео.html
I lived in C.M. for 10 years... The air pollution season is nearly half the year now. Even if you stay inside with air purifiers it's really rough.
You could make so much money on decentralized finance staking, 22% apy forget the s and p 500
Or even just earning 8.6% - 10.5% interest on stablecoins like USDC or GUSD on Voyager/Celsius/BlockFi.
Thailand or other Southeast Asia countries or Eastern Europe when the cost of living is low. The risk faced by little millionaires is running out of purchasing power. Inflation will come after all the money printing.
Not if they hold a large % of wealth in Gold and Silver and Crypto...
Hedge with crypto and stocks
@@mobileandroid5299 Not stocks...WAY over freakin valued
You said not to go to a country that wants to squeeze you out for money because they messed up. Aren't all the countries like that?
Russia. 0% long term capital gains tax. They don't "honor" foreign country tax impositions on their expats.
@@dgs931 You could go to south part of Russia. It's pretty good climate there. However, I believe that Georgia is way better!
What do you think about Celsius?
The Celsius app is awesome. 10.5% APY on USDC or GUSD.
Hello Andrew. I enjoy your videos and visit your website to read your articles. Unfortunately, I didn't find any video or article taking into consideration the factors important to families with children, such as education (quality and fees, schools and higher) for children. If you include these factors, it might change a few of your ratings.
If you've done such research, it might be time to refresh and update. Don't you find?
Hey watch this ruclips.net/video/h860CX83Y2E/видео.html
@@nomadcapitalist nice, if you want to buy a farmland. But it's not about families and no education for children mentioned. Are you sure you chose the right link?
Maybe his content is geared towards solo travelers and not necessarily families with kids!
It is. Additional factors for families will significantly increase the audience of the channel and outreach
@@TorpaQoff Having kids and an SO is nothing more than 18 yrs of a ball and chain! You could easily do the research yourself, pick a country and start googling.
I am curious what are your thoughts on Trinidad and Tobago from an economy and investment perspective?
At least in Denmark I seriously doubt the tax authority would "understand" the combination of a high net worth and a low/no income. They can't imagine anyone not working for a living, so they'll simply make up some "reasonable" work income for you and then tax you on basis of that. They mentally live in the 1980s.
Why not mention indonesia? I think Indonesia is nice, have beach and pretty low cost of living.. 😁
Difficult to get residency
@@jeffb.140 oh really? I thought there are many foreigners in bali, i guess they are just visitors.. Never thought about it since im citizen here.. our govn has to really improve on this matter..
@@jeffb.140 just wondering, why is mm2h programme in malaysia is stopped now? Do you know?
@@jeffb.140 There are plans by the government to get residency easier for foreigners.
as a x public accountant. I know that if you do not want to risk you money. the bank in USA will give a married couple on 500,000 risk free FDIC insured 1% interest for 1 year $5,000. In Ecuardor a married couple can put up to $64,000 insured by the government at 1% interest for one year. $5,120. Buying real estate in foreign countries. that the price is low at a action. would be the way to do it. But you would need the language and to deal with construction workers that will be at a decent rate.
If you have a video about Costa Rica 🇨🇷 or Panama 🇵🇦 could you point me to it, if not a video would be great
Hello, Thank you for your interest check these videos ruclips.net/video/3_qUlngwO3A/видео.html ruclips.net/video/_Acdn3ZtnVA/видео.html
I am living in Costa Rica 🇨🇷 Let me know if you have a question...
You mentioned UK as fairly low tax? is this actually true, I was looking into it recently for crypto purposes and the capital gains of 20% seems reasonable, was thinking about Portugal also.. but moving would be a big step and not sure if I am in that wealth bracket yet.
@@Timithos well, how many countries are better? is there a list?
@@zambane Germany has no capital gains tax on crypto investments (if you hold it for a year) afaik.
Sorry I made a typo mistake in ecuador the interest rate is 8% on a dollar account
YEp .
This is the situation I am in. A nice next egg, but low pension payout.
Depends on how long you live. At some point the nest must be tapped 🎈
I'm watching this again just for the pigeon.
Just call Andrew is your best move.
Too much of a commercial. Sorry. This is just my opinion.
Get some passive income and lice off of that passive income
That's it! It's not, " Show me the money, " it's, "SHOW ME THE PIGEON!"
I am NOT sure what this person's background happens to be.. that being said most U.S. banks/especially private bankers offer a bare minimum of 10% ROI on 7 figures plus.. even.. a ROTH IRA gives returns so you have passive income!
Beyond that other countries allow financial instruments and trade platforms where 7 figures can offer you a whole new LEVEL of net worth and passive income so you can have multiple places to live.
And my last point if those funds are from challenging froms of businesses.. there are even options to diversify those into passive income!!
So, I am at a loss for the question?!
@@Timithos Much more; including our votes are meaningless going forward.
If you have US citizens with $1M or more in Capital Gains, I can not only defer it for 30 years, I can eliminate it. Let me know if you want to help your clients....Robert
Eliminate it legally, I assume? How can we get in touch to learn more?
@@chrish.4729 Completely Legal. My office number is 702-749-4369 x 101, I'm on PST
Show you the pigeon 🤣
Many retired people want their nest-egg in a low risk investment from which they can withdrawal the interest twelve or more times a year.
I do not consider crypto-currency as meeting these criteria.
@@Timithos
8.5% on a savings account sounds lower risk yet with an unexpectedly high return.
Or you could just open a Voyager/Celsius/BlockFi account, buy USDC or GUSD (both are stablecoins pegged 1:1 to the US dollar), and earn 8.6% - 10.5% in annual interest paid out monthly. I'm earning 9% interest on Voyager right now with USDC.
@Fauci is-a-liar
Interest is paid in a crypto- form, not a fiat currency.
I believe one would need to then sell/convert the crypto to fiat and deposit the fiat into a traditional financial bank account, to pay monthly bills.
High wealth and no income?
Build a smart stocks and bonds portfolio.
Problem solved.
That person needs to diversity in different investments. Stocks, bonds, real estate, annuities, structured notes.
Vanguard ☺👌
farmland... timber... there are plenty of ways. a lot of boutique investment companies have avocado, mango, strawberry, orange, coffee, chocolate farms with a very nice annual return
stocks and bonds are subject to central bankers “encouraging economic activity” so they are a bit risky. bonds have negative real yeilds and are in most cases a BAD investment with return-free risk
@@jamescalifornia2964 I ve heard a lot about Vanguard, could you explain a little, its a platform where the stocks are spread and managed for you?
@@tipr8739 could you give a hint where to start looking, for these investment compaines, a managed portfolio in land ventures sounds good
Move to _Epstein Island_ for retirement ☺💕
Is the red shoes Bill Clinton painting included? lol
Are you in Bogota right now? let me invite you a drink and have a talk for 10 mins
Hello again Andrew, why don't you ever mention Russia? Me as a Russian who went out of Russia for expat life 15 years ago, now I look at Russia with different eyes. Especially now with the "pandemic" craze Russia is more attractive than ever. It has that vibe and freedom and good service at low price, not speaking about educative opportunities and cultural events. Look at Kazan ))
Western European countries are not the dream again for people would like to live there, tax rates are unfriendly to people, give an example here, if a low income but on the other hand have capital, there is a capital tax, 30% of 4% interest which you have never received, and an exemption of the first 50000 !
That's under 1.2%. That's OK i.m.o. Many countries in the world do tax higher.
If you lower your standard, you can retire early.
But which level you are playing in?
Andrew, I enjoy your videos quite a bit, but please stop saying "and so"; it's just "so".