An American friend of mine, sold his small apt in San francisco for $400,000 and Bought 9 apts in Buenos Aires, Argentina. With 55 year old, he gets money from renting out and living the cash flow life.
@@eddycarpenter8989I suppose it’s the same as anything, go to any outskirts and it may not be nice, I’ve lived in london all my life but wouldn’t go to hackney at night, same with Compton
@@jayaz9113you would be surprised. The Crime Index of Buenos Aires is 63.4 And london is 54.86, it’s not very far off sadly and only getting worse, especially with knife crime
Momentum is actually a key to understanding where money is moving. Right now momentum is picking up for non-US dollar trades (dedollarization) which is slipping into hyper-speed. For example, look at how many crypto exchanges will not accept US dollars, US citizens or US addresses. The speed and momentum of this change is critical to understanding how the US dollar is losing trading power for the average person. @@NigelHyphenJones
We’re not high net worth or anything but are looking at multiple passports to better suit our nomadic / overland travel lifestyle. It would be cool to see a video for people who are financially stable/set who want to travel (sail/overland/etc.). Not the digital nomad stuff but more like retirees or those who could retire early.
I did that for the last 13 years, I had enough income to see the world in relative comfort and still stack my asset column. . .so I figured that’s not a bad reward for seeing the world and haven’t looked back. Started out on stamp entry but that means no stability in location or who you spend time with (except your significant other). After that just look for cheap/easy residencies that have cheap real estate, cos once that cost goes, it’s easier to level up.. and then just one by one bump them up and you can still head off to travel wherever you like
@@doyoueatrocksmeaning you had saved a certain amount you could live off and still let investments grow or you had some type of passive income or business?
If you have a child in Argentina they automatically get citizenship and the parents automatically get permanent residency for life and can obtain citizenship if they choose at any time.
the most amazing thing to do with having multiple homes in multiple countries is the range of interior decorating you could do to match the weather and mood of the country. I have endless ideas that are far deeper than my pockets
Right, money is true freedom and the more relative purchasing power you have the more free you become. The civil liberties in the West are an illusion for the middle class and poor so they can be content with their government, politicians, and high taxes.
@@miguelfonseca1104 yeah but they have corruption and repression. I come from a poor country and it is a wild west where 99% of people live less free than the majority of people in rich countries
Not just countries, regions, and in some cases cities. I live in Midland, TX, where it was much more relaxed than other locations. My mother who lived in Dallas at the time noted how my daily life had minimal change compared to hers.
wherever they want, that they're permitted to live. However rich you are there are still people who control the world that aren't willing to let you be.
When you are wealthy you could not care less about it, unless you need to be near friends or family or if you have very special reasons. When you're part of the middle or lower segments you feel the consequences more harshly. That said, it's absurd that countries may make it difficult for you to just leave with your assets, considering you already paid income taxes (and other taxes and obligations) before saying goodbye, usually because they lacked as people are unlikely to emigrate unless they have good reasons to. @@TheMrFive
@@TheSimArchitectI think Americans are the only people who have to pay income tax after you leave if you’re a citizen. I am definitely not sure if that’s the only country, just my understanding.
Of all the things in the world, Singapore doesn't lack money,. It is not that difficult to get in if you have entrepreneurial talent or a niche skill (not just money)
Just be aware of the simple fact that as you become a Dad etc you'll start to find your horizons more limiting. Additionally it's really nice to have somewhere called home, where you can become involved in a society and not be perpetually floating from place to place. I've seen friends whose children have no set base... they end up going off the rails later on in life, sad but true, seem it three times now! Have fun Good advice for your younger years Andrew
@@miguelfonseca1104 yes, point taken, and correct. I guess I was trying to make the point that as life moves on, where you are treated best also moves on... well alters, for a whole host of reasons. Its great to be young and very wealthy and to spread you money widely and wisely, but when or if you are tired down, for whatever reason, then another country may suddenly offer to treat you best. Health Pleasure Climate Tax system War Uprisings Lots of significant income Etc All can quickly arise to change your immediate perception of what is best. I'm glad I did my nomad capitalist bit when I could..... nowadays it's different, but still possible. But it does suddenly and unexpectedly limit itself for all sorts of reasons. Onwards and Upwards always Andrew
Thank you for the insights. I was thinking about the same thing, how to do that with children. I am naturalized American and Brazilian and I am thinking of spending some years in Brazil. My kids are 15 13 and 11
Thank you for commenting. I've never been to Brazil, the nearest I've got is many trips to French Guiana, which borders NE Brasil. I'm from England. In your circumstances with teenage children I'd be very tempted to head for Brazil, there must be opportunities somewhere there is a huge country. I was told that the NE corner around Natal is good, but I can't really comment. The USA is in financial trouble and could get rough socially. I used to go there lots for work but not any more. Good Luck to you all - stay safe is the message, money counts less.... go where you are treated best ! Andrew
I think the idea that a lot of people have of countries like Colombia and Mexico is high crime, cartels running government, poor security, healthcare etc... Which is why so many people would be hesitant to make that move. Now making the comparison that you made which is looking into the future, I agree, the process of getting settled with little to no barriers makes sense but look at El Salvador, a lot of citizens migrated to other countries like the US, formed gangs and criminal organisations, then were deported back and it destroyed the country for a long time. Who's to say the same won't happen with places like Mexico?
Colombia and Mexico have excellent health care. You just have to go private which isn’t bad at all. A prescription I had was 600 per box in the US vs $45 USD in Ecuador. Also a CT scan there will run you about $150… echocardiogram is about $95. Also… many of Mexicos private hospitals are adopting the Joint Commission standards used by the top hospitals in the USA. Of course you’re not going to get Cleveland Clinic / John’s Hopkins level care… but places like that are the best in the world.
@@ElTropitronic That point only stands if it will pay dividends eventually is my point, otherwise you're better off finding another destination. One thing we have to pay attention to is history. You can see the large levels of immigration right now into the US mainly from Mexico and I was in Mexico 3 times last year but that level of immigration WILL return eventually & we've seen how US operates, they won't send the best back, it's usually the worst and those "worst" are enough to completely turn a good society upside down. Again, look at El Salvator and what happened there for at least half a century. Cartels aren't street gangs, street gangs don't run governments and law enforcement, cartels do. Cartels also have extreme economic power unlike street gangs. It's a whole different ball game
@@ChilaquilesDF I absolutely love Colombia and Mexico as a place to travel but I think it's a different question when we start talking about "betting" on it's future especially if we're talking a decade or 2 into the future. There are issues there that usually takes decades to tackle UNLESS they're willing to join forces with outside forces to tackle the problem completely and even then, it will be a war, a lot of bloodshed and take forever.
@@11bornrich But that's simply not true. Just google up: "Where immigrants come from and where they go after reaching the US" and you'll find your answer: the total number of Mexican immigrants living in the US has been on the decline for more than a decade (CNN).
Never EVER get citizenship in a country that does not permit renouncing that citizenship, like Argentina. Once you're in, you can never get out, regardless of what happens in that country. You're trapped for life.
@@zeroflaghu Exactly. I have been in Argentina for four months, so far, this year. And I can't get real information on what that means for foreigners. Everyone has a different story. What's on the government website seems to be very different from what they do in practice. Folks I know who moved here 20 years ago say "just don't talk about any accounts you want to keep secret. They don't have the manpower to bore back through FATCA and find your assets." Or maybe that's wrong. I am watching and inquiring to see what the future holds for extranjero investments, residency and taxation. I'm planning to build a house here next year, fingers crossed.
I am not rich but do well off of my SS and Pension. I am 67 and I live in Albania like a king. 3rd year into my residency and I use the business residency. It only cost me 140 dollars a month to keep my residency going so after 5 years i will have spent only 10,000 dollars to get my permenant residency. It is extremeoy cheap here and my monthly expenses including my business costs are only about 800 dollars.
Suggestive youtube, thanks for it, I appreciate your spirit of buying somewhere that doesn't seem to have "happened" yet and trying to envisage the possibilities.........but I will say that it's easier to talk about buying in a country that's going through a rough patch than actually doing it.
@@nomadcapitalist You seem to have a helpful business model for people who are seriously moving forward in a global direction and I'm learning a lot from your channel. All I was suggesting above is that it's hard for a lot of us to feel secure when it comes down to actually buying internationally........but those are the types of services you seem to provide, wisdom to make a rational choice.
Although I am nowhere close to high income, not even classified as middle class in the US, I learn something with each video. As I listen to you more and more, Mexico is interesting to me as I own a little bit of land just 7 miles from MX on the Texas side.
Well, I don't have $50mill.. I'm sitting on about AUD$4 million in property and assets now and have land in Thailand as well.. I intend to increase property holdings in Australia over the next few years and then retire early to Thailand and maybe buy something in Malaysia as well..
@masontheworldtraveler3098 his business is being a generic boomer who just lucked onto an australian property market that was cheap when he entered, and is now extremely expensive
A rich person normally will live in a more expensive place, that quite simply is better because the high prices mean a better economy and jobs, which means no poverty and crime there. The high price housing keeps the riff-raff out
genius, do you think that a rich person does not care about jobs and the absence of poverty?)) What does he care about the availability of jobs if a rich person has money and does not work and is looking for the cheapest place to save his money as much as possible and live like a king
I live in New Zealand and I would much rather live in SE Asia or South America and will after this up coming Crypto Bullrun. We are far from “Free” here in NZ and following the US and WEF agendas far too much for my liking. Thanks bro, I will be needing your services in the next year or two.
Thanks, I agree, Mexico has a very bright future! When I visited Poland 2010 I was saying that Poland in a generation would be fantastic if politics didn’t hold it back or mess it up, the people there were brilliant, generous, hard working, and God seekers, and impressed me very much. Now I live in Mexico and see it’s on a wonderful path with a very beautiful future, great hard working beautiful God seeking people, again if politicians don’t ruin its potential. Yes, evildoers can ruin anything. USA as an example. What does Build Back Better really mean?
This is me too. I live in Makati, originally from Melbourne. Way better lifestyle and I can travel to Japan and Bali for cheaper since Melbourne is at the bottom of the entire world 😅 Eating out is 20-30 dollars instead of 50-100 dollars Taxi is 4-10 dollars instead of 20-50 Nanny for my kid is 20-40 dollars per day
there are still decent places to live in Venezuela believe it or not, just gotta have US dollars landing in your bank account every month. I plan to move from South Florida to either Colombia or Venezuela with my Venezuelan wife
@@aahsimovieprojects Why would you isolate yourself in a place like Venezuela? Yes there are some nice places but overall is unsafe, financially restrictive etc.
I visited 37 countries, 5 in South-East Asia (Thailand, Vietnam, Singapore, Malaysia, Indonesia). Kuala Lumpur was the Worst city I've been to: - Not much interesting to see - Very car-oriented, not so walkable - Hard to rent monthly (more important for less well-off digital nomads) - Feels a lot like Singapore of worse quality Food was nice though (not as nice as Thai food, of course)
@@andynd5571 Thailand was my favorite: food, nature. Bali would be second. Although it's not a direct comparison since I lived on an island in Thailand and Indonesia unlike other countries. Maybe I'd like Langkawi in Malaysia much more than Kuala Lumpur
Latin America - take any country and you’ll have a lot of problems with gun violence and crime. Too much risk for a wealthy person. South East Asia - interesting, but difficult to get papers in most countries there and language is a problem, apart from Malaysia.
You’ll have a lot of problems? Maybe if you’re buying drugs, in a cartel, or traveling in a sketchy area at night. We’ve been traveling in Latin American countries for 2 straight years (Mexico, Central America, and South America) and have yet to see gun violence or its aftermath in person. There’s a lot of violence between gangs, on irresponsible tourists, and there’s a lot of property crime in tourist areas (also a bit between locals). But if you actually go somewhere you’ll see that 90% of the people with a western level income live happy and normal lives. Crime is everywhere and I’d much rather be in a place that doesn’t pretend it doesn’t exist like the US/Europe.
@kayn6858 safety isn’t the driving force in how I live my life. As is the case with anything it’s all about risk vs reward. So it depends on what I’m getting out of entering the lions den… if it’s joy, a pile of cash, or something great I probably wouldn’t worry too much if I’ve been in there ten times already. I’m not going to live in a padded room and eat oatmeal for the rest of my life.
Australians and Singaporeans have no restrictions to buy real estate in New Zealand. New Zealand's new government is far more friendly to foreign investors - I expect restrictions to be loosened up across the board over the next couple of years.
Even low rollers can make substantive moves to expatriate. Many countries do not allow or make it very difficult for foreigners to own real estate, yet you can acquire a master lease (with an option to buy), and then sublet to tenants. Motivated or distressed owners will very often let you take over the management of their property with no down payment; just make their payments and repairs, and then you're set. Often times, contractual control is superior to the risk of ownership, and you're earning a fair living while you are waiting out the clock to acquire citizenship.
Can you produce more content for your clients at the lower end (e.g. $1-3M) of your client base and who may be a bit younger (e.g. 30+ y/o millennials)?
lol my freind 7 figures is nothing you need at least 10 million these days. this is not really a channel for you. imagine being over 30 with only 1 million net worth in 2024.
@@5harkbyte460 im 23 and have 5 million in bitcoin and chainlink. the bull run is just starting. ill have over 10 million the next 12-18 moinths. this is a channel for me.not because he teaches me anything but because he reinforces the thoughts i already had in my head. and am already getting my cedula in colombia. i also really like tijuana mexico and guadalajara mexico. going to michoacan mexico in july to start building a property. how do i know where to pick? just travel!!! good luck
lol I've been comfortably living abroad and well invested with much less than this. Sorry Amanda you have a very narrow view on what is possible with creativity.
Yep. If Icould, i would leave Canada for Italy. Im not millionare, but I have things inplace for my future. I have a lot of hope for my future. So exciting. Thanks for the videos Andrew. Cheers.
That is why he diversified into more than one country …. As it becomes more clear who the “winners” are you start investing more and more into the winners and when you realise your “losers” won’t progress as well you stop investing in them and maybe even liquidate assets there (maybe you keep them as a vacation home or just passive rental income). It is not an all or one deal
But for most people to live in cheap countries is only possible if they have remote streams of income and have good passports. Though I'm young but still stuck at both of these. I'm currently in 🇫🇷 and originally from 🇵🇰 and doing my masters here in one of the best school. However the problem here is that to get a French passport i need to spend at least 7-8 years and also need to learn fluent French. I prefer working remotely but rarely any company allows remote work here. Moreover i don't have money to buy passports or get permanent residences of other countries. So either I have to leave France and find a 100% remote job and start a new life by applying visas all over again or keep on working physically for 7-8 years which i absolutely hate. Life ain't easy especially for those from 3rd world and weakest passports.
For me it is all about value. Don't mind paying the money but I expect alot for it. Fortunately I do have the right to abode in HK but it's no place to retire, yet still a good option for banking and trading without the capital gains. I'd imagine Singapore is the same.
I have been going through Singapore since 1973 and have found it to be the most boring city in the world. Nothing to do but shop and eat and all expensive. My work had me passing through Singapore monthly and I was always happy to leave. I took my wife who had never left Thailand to Singapore and she was disappointed in the city to say the least.
One question. Regarding Colombia and Mexico. Specially Colombia. Are you recommending country where the left is strong and is leaning towards socialism/communism?
I am not rich, but living in America costs approximately 60k per year more than living in many countries. Why would anyone choose America, whether rich or poor, unless they are milking the system.
If you have between $5 million and $25 million, that’s generally enough to be considered wealthy. You don’t need $20 billion to live comfortably in New Zealand or Singapore; $5-25 million is more than sufficient. I guess people in this range of wealth would prioritize safety for their lives and money, as oppose to living in a developing country.
I am Brazilian living in the US and I found the south to be safer. Santa Catarina s a gorgeous state with amazing beaches and towns and very safe!!!!! The northeast of Brazil not so much, hence the cheap real estate. I think in a country like Brazil the number one factor is safety. What’s the point of having a cheap real estate but you don’t have freedom to go out and about safely. Visit the south of Brazil before you buy anything there
@@karinaoliveira3988I've been to Natal, RN three times and it's really not that bad. The south is safer, but the winters are not hot. If I have the beach and ocean in my backyard, plus motoboys to deliver beer and food, what do need to leave my house for? 😄
@@POLSKAdoBOJU that is true! There is an American family that moved to Brazil and they talk about their experience. Follow them specially if you have children. I think the channel is called my Brazilian life, they have 5 children. They used to live in the northeast and they moved to Rio. There are some safe pockets in Brazil, you just have to find them! Good luck!
@@karinaoliveira3988 I already follow them on YT. I believe they own a trampoline park and used to live in Bahia. How long have you been in the US? Your English is perfect...BTW your name with a K is spelled like we would in Polish...
Mr . Andrew . Mexico may be a good citizenship to have . But how do you find it to be a safe place to live given the high crime rate and abductions .. And the local authorities do not help much .
What about the cartels activity in the USA? There’s a lot of activity on both sides of the border and from my experience training in both it’s not hard to avoid criminal activity.
Countries, need to workout an agreement, for the purpose of working together and "ganging up" against, them. Otherwise, nothing, will change in a positive manner. Also, as long as the demand of their customers it's remaining... They'll, continue trying it.😢
@@ChilaquilesDF Yes, there was kind of unwritten agreement that Cartels would stay away from tourist areas in Mexico, until that thing in Matzalan happened. Now all bets are off.
Unfortunately, You're right, Mexico is ruled by the cartels. Tourism is probably the most important source of income, and many restaurants, resorts, hotels, clubs, etc are owned by the cartels or businessmen colluded with them. They want to protect their customers at all costs, that's why they hardly ever mess with tourists or rich people.
How would the exit tax from USA apply to a USA citizen who has been established and living in Puerto Rico for 7 plus years and no longer subject to USA Federal taxes? In other words does a Puerto Rican American citizen have an easier option for duel citizenship because they are no longer required to file federal taxes and don’t have any income sourced from America?
I want to be free 100% and I agree Mexico will raise up but currently the crime rate is very very high. I am Brazilian and I access news in their language (similar enough to read). It’s bloody scary and don’t expect to wear a good watch or sit with a laptop in a cafe. Also they have “runners” - people on bicycles or bikes that snatches your phone and bag whilst through you hard on the floor - give it another decade I would say
But Mr. Nomad, I don’t like the heat, the gross smells, the lack consistent quality, insects, noise, pollution, lack of safety etc etc etc, in all these Asian countries, Latin America. Middle East, no thanks, can’t stand that world and I left that part of the world. How do I stay in America/ Canada and pay very little taxes? I just prefer the quality of life in splitting time between OC in LA and Toronto.
No more Golden Visa for example, Portugal is also having problems with dealing with too many people wanting to come in, you have to wait to get residence permit and so on because the immigration services can't keep up with the demand. That's what is on the news at least.
An American friend of mine, sold his small apt in San francisco for $400,000 and Bought 9 apts in Buenos Aires, Argentina. With 55 year old, he gets money from renting out and living the cash flow life.
Sf is more dangerous than Argentina these days
@@Firespirit233 go to the outskirts of Buenos Aires and you will see a very different reality to the tourist areas
@@eddycarpenter8989I suppose it’s the same as anything, go to any outskirts and it may not be nice, I’ve lived in london all my life but wouldn’t go to hackney at night, same with Compton
@@hattydafatty151 you comparing London to Buenos Aires is surreal. Have you lived in any big city in South America before?
@@jayaz9113you would be surprised.
The Crime Index of Buenos Aires is 63.4 And london is 54.86, it’s not very far off sadly and only getting worse, especially with knife crime
I agree. No point in overpaying for living expenses
yeah government is squezing every money out of you to buy artillery shells for ukraine. They cost 8000 a piece and shoot 10.000 per day.
"The secret to wealth creation is momentum" --- a very meaning-packed phrase! You could do a whole video just unpacking that.
You’re aren’t very bright are you???
Momentum is actually a key to understanding where money is moving. Right now momentum is picking up for non-US dollar trades (dedollarization) which is slipping into hyper-speed. For example, look at how many crypto exchanges will not accept US dollars, US citizens or US addresses. The speed and momentum of this change is critical to understanding how the US dollar is losing trading power for the average person. @@NigelHyphenJones
@@trentreznik3798Stop projecting
I'm now in Paraguay. Best thing I ever did.
Checking out Paraguay next month to possibly move there.
We’re not high net worth or anything but are looking at multiple passports to better suit our nomadic / overland travel lifestyle. It would be cool to see a video for people who are financially stable/set who want to travel (sail/overland/etc.). Not the digital nomad stuff but more like retirees or those who could retire early.
I agree !
I did that for the last 13 years, I had enough income to see the world in relative comfort and still stack my asset column. . .so I figured that’s not a bad reward for seeing the world and haven’t looked back. Started out on stamp entry but that means no stability in location or who you spend time with (except your significant other). After that just look for cheap/easy residencies that have cheap real estate, cos once that cost goes, it’s easier to level up.. and then just one by one bump them up and you can still head off to travel wherever you like
@@Dawe957 fair enough… 😅
@@doyoueatrocks ah nice! Thanks! Good to hear that it can work.
@@doyoueatrocksmeaning you had saved a certain amount you could live off and still let investments grow or you had some type of passive income or business?
If you have a child in Argentina they automatically get citizenship and the parents automatically get permanent residency for life and can obtain citizenship if they choose at any time.
And then be subject to a non-renounceable citizenship that taxes on global wealth. Typing from Argentina.
100% I moved from Miami, USA to Thailand 3 years ago never looking back
What do you do for a living ?
@@youssefmikhael3044 Mortgage Broker
the most amazing thing to do with having multiple homes in multiple countries is the range of interior decorating you could do to match the weather and mood of the country. I have endless ideas that are far deeper than my pockets
@@MaryGwenDunganIs there a RUclips channel that show cases those things?
If you live in a ‘poor’ country, you do actually have a lot more freedom (if you have money) than you would if you lived in a ‘rich’ country.
Categorically false
Right, money is true freedom and the more relative purchasing power you have the more free you become. The civil liberties in the West are an illusion for the middle class and poor so they can be content with their government, politicians, and high taxes.
True. Replace 'poor' with 'developing'
@@bananenbrot958 a lot of poor countries dont have nearly as much regulation in every corner of life.
@@miguelfonseca1104 yeah but they have corruption and repression. I come from a poor country and it is a wild west where 99% of people live less free than the majority of people in rich countries
Keep in mind how a country handles pandemics. It is a huge window to learn how the people were treated. Because it 'will' happen again.
Not just countries, regions, and in some cases cities. I live in Midland, TX, where it was much more relaxed than other locations. My mother who lived in Dallas at the time noted how my daily life had minimal change compared to hers.
Very good point
People don’t want opportunities. They want a great place to live that’s safe and affordable.
Nice casual presentation with your Earl Grey tea! As always, valuable information covered! Truly appreciated!
Irish citizens also recently got visa free access to China
Tbh China is pretty good, 0% capital gain tax and some cities are more developed than e.g. Singapore
Good on them, China is super nice.
nah never going there, had been plenty of times, not worth going there
@@MoralHazard-g1e 😂 come on, have you been there?
Great, go learn how to become a communist.
I want to live in a country least influenced by the WEF
Antártica
All arabian gulf countries are an option.
@@Zelielz1 UAE LOVES WEF SO NO😊
You promote freedom. I support you channel then.
Excellent content from the OG on this topic. Thank you!
Thanks for watching! 😊
Greatly appreciate off the cuff talks about recently mentioned topics.
Rich people can live where ever the hell they want.
Absolutely. I enjoy life a lot more in Latin America than in North America.
They might get a much better deal in the United States than in the EU. Sorry
wherever they want, that they're permitted to live.
However rich you are there are still people who control the world that aren't willing to let you be.
When you are wealthy you could not care less about it, unless you need to be near friends or family or if you have very special reasons. When you're part of the middle or lower segments you feel the consequences more harshly. That said, it's absurd that countries may make it difficult for you to just leave with your assets, considering you already paid income taxes (and other taxes and obligations) before saying goodbye, usually because they lacked as people are unlikely to emigrate unless they have good reasons to. @@TheMrFive
@@TheSimArchitectI think Americans are the only people who have to pay income tax after you leave if you’re a citizen. I am definitely not sure if that’s the only country, just my understanding.
Of all the things in the world, Singapore doesn't lack money,. It is not that difficult to get in if you have entrepreneurial talent or a niche skill (not just money)
Kuala Lumpur and Malaysia is the next big thing.
I agree. IMO its better than Spore in terms of living
I’ve been looking into living in KL.The thing is, the air quality, heat and humidity leaves much to be desired.
I do. Works wonderfully. Thank you. Financial stress = Zero.
That is the kind of "Tea Talk" we like and want to see more of 🙂
19:34 that's the whole game, very well said.
I could listen to the OG talk all day
Just be aware of the simple fact that as you become a Dad etc you'll start to find your horizons more limiting. Additionally it's really nice to have somewhere called home, where you can become involved in a society and not be perpetually floating from place to place. I've seen friends whose children have no set base... they end up going off the rails later on in life, sad but true, seem it three times now!
Have fun
Good advice for your younger years
Andrew
no one told you to breed
@@miguelfonseca1104 yes, point taken, and correct. I guess I was trying to make the point that as life moves on, where you are treated best also moves on... well alters, for a whole host of reasons. Its great to be young and very wealthy and to spread you money widely and wisely, but when or if you are tired down, for whatever reason, then another country may suddenly offer to treat you best.
Health
Pleasure
Climate
Tax system
War
Uprisings
Lots of significant income
Etc
All can quickly arise to change your immediate perception of what is best.
I'm glad I did my nomad capitalist bit when I could..... nowadays it's different, but still possible. But it does suddenly and unexpectedly limit itself for all sorts of reasons.
Onwards and Upwards always
Andrew
Thank you for the insights. I was thinking about the same thing, how to do that with children. I am naturalized American and Brazilian and I am thinking of spending some years in Brazil. My kids are 15 13 and 11
Thank you for commenting. I've never been to Brazil, the nearest I've got is many trips to French Guiana, which borders NE Brasil. I'm from England. In your circumstances with teenage children I'd be very tempted to head for Brazil, there must be opportunities somewhere there is a huge country. I was told that the NE corner around Natal is good, but I can't really comment.
The USA is in financial trouble and could get rough socially. I used to go there lots for work but not any more.
Good Luck to you all - stay safe is the message, money counts less.... go where you are treated best !
Andrew
I think the idea that a lot of people have of countries like Colombia and Mexico is high crime, cartels running government, poor security, healthcare etc... Which is why so many people would be hesitant to make that move. Now making the comparison that you made which is looking into the future, I agree, the process of getting settled with little to no barriers makes sense but look at El Salvador, a lot of citizens migrated to other countries like the US, formed gangs and criminal organisations, then were deported back and it destroyed the country for a long time. Who's to say the same won't happen with places like Mexico?
You missed the point entirely. This is his point (17:15)
Colombia and Mexico have excellent health care. You just have to go private which isn’t bad at all. A prescription I had was 600 per box in the US vs $45 USD in Ecuador. Also a CT scan there will run you about $150… echocardiogram is about $95. Also… many of Mexicos private hospitals are adopting the Joint Commission standards used by the top hospitals in the USA. Of course you’re not going to get Cleveland Clinic / John’s Hopkins level care… but places like that are the best in the world.
@@ElTropitronic That point only stands if it will pay dividends eventually is my point, otherwise you're better off finding another destination. One thing we have to pay attention to is history. You can see the large levels of immigration right now into the US mainly from Mexico and I was in Mexico 3 times last year but that level of immigration WILL return eventually & we've seen how US operates, they won't send the best back, it's usually the worst and those "worst" are enough to completely turn a good society upside down. Again, look at El Salvator and what happened there for at least half a century. Cartels aren't street gangs, street gangs don't run governments and law enforcement, cartels do. Cartels also have extreme economic power unlike street gangs. It's a whole different ball game
@@ChilaquilesDF I absolutely love Colombia and Mexico as a place to travel but I think it's a different question when we start talking about "betting" on it's future especially if we're talking a decade or 2 into the future. There are issues there that usually takes decades to tackle UNLESS they're willing to join forces with outside forces to tackle the problem completely and even then, it will be a war, a lot of bloodshed and take forever.
@@11bornrich But that's simply not true. Just google up: "Where immigrants come from and where they go after reaching the US" and you'll find your answer: the total number of Mexican immigrants living in the US has been on the decline for more than a decade (CNN).
Never EVER get citizenship in a country that does not permit renouncing that citizenship, like Argentina.
Once you're in, you can never get out, regardless of what happens in that country. You're trapped for life.
I believe that particular renunciation-lack does not apply to naturalized citizens, but please check.
Furthermore there is wealth tax in Argentina.
@@zeroflaghu Exactly. I have been in Argentina for four months, so far, this year. And I can't get real information on what that means for foreigners. Everyone has a different story. What's on the government website seems to be very different from what they do in practice. Folks I know who moved here 20 years ago say "just don't talk about any accounts you want to keep secret. They don't have the manpower to bore back through FATCA and find your assets." Or maybe that's wrong. I am watching and inquiring to see what the future holds for extranjero investments, residency and taxation. I'm planning to build a house here next year, fingers crossed.
Serbia?
I am not rich but do well off of my SS and Pension. I am 67 and I live in Albania like a king. 3rd year into my residency and I use the business residency. It only cost me 140 dollars a month to keep my residency going so after 5 years i will have spent only 10,000 dollars to get my permenant residency. It is extremeoy cheap here and my monthly expenses including my business costs are only about 800 dollars.
Albania will be hosting Italian/ Senegalese migrants soon
@@3bladeceilingfan304 and?
@@3bladeceilingfan304 I repeat from the other user what does that mean. To me it is still far better than living in the US.
Suggestive youtube, thanks for it, I appreciate your spirit of buying somewhere that doesn't seem to have "happened" yet and trying to envisage the possibilities.........but I will say that it's easier to talk about buying in a country that's going through a rough patch than actually doing it.
Five passports, seven homes, land in two countries, companies in four, bank accounts in 20+… how much more can we do?
@@nomadcapitalist You seem to have a helpful business model for people who are seriously moving forward in a global direction and I'm learning a lot from your channel. All I was suggesting above is that it's hard for a lot of us to feel secure when it comes down to actually buying internationally........but those are the types of services you seem to provide, wisdom to make a rational choice.
Although I am nowhere close to high income, not even classified as middle class in the US, I learn something with each video. As I listen to you more and more, Mexico is interesting to me as I own a little bit of land just 7 miles from MX on the Texas side.
Well, I don't have $50mill.. I'm sitting on about AUD$4 million in property and assets now and have land in Thailand as well.. I intend to increase property holdings in Australia over the next few years and then retire early to Thailand and maybe buy something in Malaysia as well..
What's your buissness?
@masontheworldtraveler3098 his business is being a generic boomer who just lucked onto an australian property market that was cheap when he entered, and is now extremely expensive
A rich person normally will live in a more expensive place, that quite simply is better because the high prices mean a better economy and jobs, which means no poverty and crime there. The high price housing keeps the riff-raff out
genius, do you think that a rich person does not care about jobs and the absence of poverty?)) What does he care about the availability of jobs if a rich person has money and does not work and is looking for the cheapest place to save his money as much as possible and live like a king
The high price housing means homeless everywhere like in the US 😄
I live in New Zealand and I would much rather live in SE Asia or South America and will after this up coming Crypto Bullrun.
We are far from “Free” here in NZ and following the US and WEF agendas far too much for my liking.
Thanks bro, I will be needing your services in the next year or two.
Thanks, I agree, Mexico has a very bright future! When I visited Poland 2010 I was saying that Poland in a generation would be fantastic if politics didn’t hold it back or mess it up, the people there were brilliant, generous, hard working, and God seekers, and impressed me very much. Now I live in Mexico and see it’s on a wonderful path with a very beautiful future, great hard working beautiful God seeking people, again if politicians don’t ruin its potential. Yes, evildoers can ruin anything. USA as an example. What does Build Back Better really mean?
I am a rich person, and living in The Philippines is a whole lot better for me and my family than living in my Western politically correct country.
What's your set-up there? BGC/city or province?
I am a NON rich person and I agree. Just be aware that the number one export of the U.S. is PROPAGANDA!
This is me too. I live in Makati, originally from Melbourne. Way better lifestyle and I can travel to Japan and Bali for cheaper since Melbourne is at the bottom of the entire world 😅
Eating out is 20-30 dollars instead of 50-100 dollars
Taxi is 4-10 dollars instead of 20-50
Nanny for my kid is 20-40 dollars per day
Phillipines is for loosers
Me too. Since 2008.
Ill skip moving to Venezuela this one time, thank you!
there are still decent places to live in Venezuela believe it or not, just gotta have US dollars landing in your bank account every month. I plan to move from South Florida to either Colombia or Venezuela with my Venezuelan wife
@@aahsimovieprojects Why would you isolate yourself in a place like Venezuela? Yes there are some nice places but overall is unsafe, financially restrictive etc.
Loved this video. Thanks once again, Andrew. Peace.
Thanks! 😊
I visited 37 countries, 5 in South-East Asia (Thailand, Vietnam, Singapore, Malaysia, Indonesia).
Kuala Lumpur was the Worst city I've been to:
- Not much interesting to see
- Very car-oriented, not so walkable
- Hard to rent monthly (more important for less well-off digital nomads)
- Feels a lot like Singapore of worse quality
Food was nice though (not as nice as Thai food, of course)
Out of all those countries you’ve visited which one did you like the most?
As a Malaysian i give thumbs up to you. It means it's maybe good for you and good for us.
Which are your favorite cities?
@@rlmint I like to know too.
@@andynd5571 Thailand was my favorite: food, nature. Bali would be second.
Although it's not a direct comparison since I lived on an island in Thailand and Indonesia unlike other countries. Maybe I'd like Langkawi in Malaysia much more than Kuala Lumpur
Latin America - take any country and you’ll have a lot of problems with gun violence and crime. Too much risk for a wealthy person. South East Asia - interesting, but difficult to get papers in most countries there and language is a problem, apart from Malaysia.
You’ll have a lot of problems? Maybe if you’re buying drugs, in a cartel, or traveling in a sketchy area at night. We’ve been traveling in Latin American countries for 2 straight years (Mexico, Central America, and South America) and have yet to see gun violence or its aftermath in person. There’s a lot of violence between gangs, on irresponsible tourists, and there’s a lot of property crime in tourist areas (also a bit between locals). But if you actually go somewhere you’ll see that 90% of the people with a western level income live happy and normal lives. Crime is everywhere and I’d much rather be in a place that doesn’t pretend it doesn’t exist like the US/Europe.
Any large Democrat run city in the US is dangerous.
@kayn6858 safety isn’t the driving force in how I live my life. As is the case with anything it’s all about risk vs reward. So it depends on what I’m getting out of entering the lions den… if it’s joy, a pile of cash, or something great I probably wouldn’t worry too much if I’ve been in there ten times already. I’m not going to live in a padded room and eat oatmeal for the rest of my life.
Argentina, Chile and Uruguay are safest in Latin America.
@@lawtutoring I would add the southern states of Brazil (south of Sao Paulo state).
Australians and Singaporeans have no restrictions to buy real estate in New Zealand. New Zealand's new government is far more friendly to foreign investors - I expect restrictions to be loosened up across the board over the next couple of years.
Even low rollers can make substantive moves to expatriate.
Many countries do not allow or make it very difficult for foreigners to own real estate, yet you can acquire a master lease (with an option to buy), and then sublet to tenants.
Motivated or distressed owners will very often let you take over the management of their property with no down payment; just make their payments and repairs, and then you're set.
Often times, contractual control is superior to the risk of ownership, and you're earning a fair living while you are waiting out the clock to acquire citizenship.
This is an excellent suggestion, thank you for sharing!
Please come and esplore SantaCruz-Bolivia. Emerging market and really a exciting place to live.
Yeah but they are communist there and tax legislation is hell !
Wealthy people can live in regular neighborhoods 'hiding in plain sight' good neighbors are a great asset. Think about it . . .
I bought 2 condos in Maringa Brasil. I am planning to create cashflow there to retire in 10 years
Can you produce more content for your clients at the lower end (e.g. $1-3M) of your client base and who may be a bit younger (e.g. 30+ y/o millennials)?
lol my freind 7 figures is nothing you need at least 10 million these days. this is not really a channel for you. imagine being over 30 with only 1 million net worth in 2024.
@@amandaburleson2035 I imagine you’re talking about yourself rn...
@@5harkbyte460 im 23 and have 5 million in bitcoin and chainlink. the bull run is just starting. ill have over 10 million the next 12-18 moinths. this is a channel for me.not because he teaches me anything but because he reinforces the thoughts i already had in my head. and am already getting my cedula in colombia. i also really like tijuana mexico and guadalajara mexico. going to michoacan mexico in july to start building a property. how do i know where to pick? just travel!!! good luck
@@amandaburleson2035 Are you 15 or something? You can retire almost everywhere in the world with 2.5 million well invested...
lol I've been comfortably living abroad and well invested with much less than this. Sorry Amanda you have a very narrow view on what is possible with creativity.
I agree and I packed in the western ways over 6 years ago and have become a humble man.
Great Info, good ideas, keep up the good work!
Thanks! 😊
with bitcoin i don't need to 'bank' anywhere. I can go wherever i want.
If you work online, you can be making the same cash for 1/3 cost of living with often 0% taxes in a tropical area with a better quality of life.
Yep. If Icould, i would leave Canada for Italy. Im not millionare, but I have things inplace for my future. I have a lot of hope for my future. So exciting. Thanks for the videos Andrew. Cheers.
Best of luck and thank you for the support!
I kinda came to the same idea too some time ago
KL is a great metro region with one of the most connected airports in the world.
What's the next Singapore? That's like finding the top and bottom of stocks. It is impossible to predict.
That is why he diversified into more than one country …. As it becomes more clear who the “winners” are you start investing more and more into the winners and when you realise your “losers” won’t progress as well you stop investing in them and maybe even liquidate assets there (maybe you keep them as a vacation home or just passive rental income). It is not an all or one deal
There are no next Singapores, although Uruguay, Malasya, Saudi could be considered in development, maybe Botswana and Kenya in 20 years.
Dear autor, what do you thonk about deglobalization and dividing markets into separates areas?
But for most people to live in cheap countries is only possible if they have remote streams of income and have good passports.
Though I'm young but still stuck at both of these. I'm currently in 🇫🇷 and originally from 🇵🇰 and doing my masters here in one of the best school. However the problem here is that to get a French passport i need to spend at least 7-8 years and also need to learn fluent French.
I prefer working remotely but rarely any company allows remote work here. Moreover i don't have money to buy passports or get permanent residences of other countries.
So either I have to leave France and find a 100% remote job and start a new life by applying visas all over again or keep on working physically for 7-8 years which i absolutely hate. Life ain't easy especially for those from 3rd world and weakest passports.
Very informative.Thanks for sharing.🙏👏🌹💯
For me it is all about value. Don't mind paying the money but I expect alot for it. Fortunately I do have the right to abode in HK but it's no place to retire, yet still a good option for banking and trading without the capital gains. I'd imagine Singapore is the same.
I have been going through Singapore since 1973 and have found it to be the most boring city in the world. Nothing to do but shop and eat and all expensive. My work had me passing through Singapore monthly and I was always happy to leave. I took my wife who had never left Thailand to Singapore and she was disappointed in the city to say the least.
One question. Regarding Colombia and Mexico. Specially Colombia. Are you recommending country where the left is strong and is leaning towards socialism/communism?
I am not rich, but living in America costs approximately 60k per year more than living in many countries. Why would anyone choose America, whether rich or poor, unless they are milking the system.
Just bought a condo in Medellin. Great place.
Congratulations!
Great video. Your content always motivates me.
If you have between $5 million and $25 million, that’s generally enough to be considered wealthy. You don’t need $20 billion to live comfortably in New Zealand or Singapore; $5-25 million is more than sufficient. I guess people in this range of wealth would prioritize safety for their lives and money, as oppose to living in a developing country.
Can you list the difficulties you see in NZ (1 - 10?)...For ex. 1. New Zealand? 1. Columbia? compare?
How do you maintain your houses. Do you rent them ?
Spread stability
Hey brother can you do a video on the Jamaican passport and the new CariCom passport they have set up
Why would a passport in Europe like Italy be better if it’s not tax friendly
Live simply that others may simply live.
For the rich, it's all about tax
Keeping dual citizenship on a supposedly rich country and a third world country to have options open.
Nomad Capitalist the real Passport Bro
What do you mean by "high level citizenship? "
Because they can...
Thanks Andrew
The most billionaires people live in New York, San Francisco, LA and Miami, you probably mean medium class.
What are your thoughts on Brazil? Specifically the Northeast (Natal)? Real estate seems very cheap there.
I am Brazilian living in the US and I found the south to be safer. Santa Catarina s a gorgeous state with amazing beaches and towns and very safe!!!!! The northeast of Brazil not so much, hence the cheap real estate. I think in a country like Brazil the number one factor is safety. What’s the point of having a cheap real estate but you don’t have freedom to go out and about safely. Visit the south of Brazil before you buy anything there
@@karinaoliveira3988I've been to Natal, RN three times and it's really not that bad. The south is safer, but the winters are not hot. If I have the beach and ocean in my backyard, plus motoboys to deliver beer and food, what do need to leave my house for? 😄
@@POLSKAdoBOJU that is true! There is an American family that moved to Brazil and they talk about their experience. Follow them specially if you have children. I think the channel is called my Brazilian life, they have 5 children. They used to live in the northeast and they moved to Rio. There are some safe pockets in Brazil, you just have to find them! Good luck!
@@karinaoliveira3988 I already follow them on YT. I believe they own a trampoline park and used to live in Bahia. How long have you been in the US? Your English is perfect...BTW your name with a K is spelled like we would in Polish...
Is retiring in croatia/bulgaria be good? I am a singaporean that have access to tax free dividend stocks.(im keeping singaporean passport)
I am confused >>> You renounced your U.S. citizenship, why would you now want to have a child born in the U.S.?!
He said the opposite (3:59)
KL is value 💯 💶
Maybe it's even better to make your own country.
Wish there was unclaimed land that isn't a floating man made island or on another planet to do that with.
True. With their fellow parasites. But they do need to bring some slaves with them to leech on.
@sandponics maybe, but he didn't create the country. And there are more ancient rulers like Lukashenko of Belarus.
You need Eduardo Saverin wealth for Singapore hahaha
Mr . Andrew . Mexico may be a good citizenship to have . But how do you find it to be a safe place to live given the high crime rate and abductions .. And the local authorities do not help much .
I have lived in Mexico for over 9 years now, stay away from crime ridden areas and you have nothing to worry about, I have never had a single problem.
@@DavidIke07 Hi David . Don't mind me ask . Which nationality you carried while you lived in Mexico for 9 years ?
@@vinoopmalkani5350 British.
Kuala Lumpur is the best
But what about the Cartels controlling Mexico at this point in time?
Yes, wise question.
What about the cartels activity in the USA? There’s a lot of activity on both sides of the border and from my experience training in both it’s not hard to avoid criminal activity.
Countries, need to workout an agreement, for the purpose of working together and "ganging up" against, them.
Otherwise, nothing, will change in a positive manner.
Also, as long as the demand of their customers it's remaining... They'll, continue trying it.😢
@@ChilaquilesDF Yes, there was kind of unwritten agreement that Cartels would stay away from tourist areas in Mexico, until that thing in Matzalan happened. Now all bets are off.
Unfortunately, You're right, Mexico is ruled by the cartels. Tourism is probably the most important source of income, and many restaurants, resorts, hotels, clubs, etc are owned by the cartels or businessmen colluded with them. They want to protect their customers at all costs, that's why they hardly ever mess with tourists or rich people.
Rich people live anywhere they can afford to.
Retiring abroad: where the only thing freezing is your drink, not your toes.😆
can you expand on why mexican residence/passport is good?
That’s the growth. That’s the future….
"He who laughs last laughs the longest": Bitcoin, citezenships etc...
How would the exit tax from USA apply to a USA citizen who has been established and living in Puerto Rico for 7 plus years and no longer subject to USA Federal taxes? In other words does a Puerto Rican American citizen have an easier option for duel citizenship because they are no longer required to file federal taxes and don’t have any income sourced from America?
I want to be free 100% and I agree Mexico will raise up but currently the crime rate is very very high. I am Brazilian and I access news in their language (similar enough to read). It’s bloody scary and don’t expect to wear a good watch or sit with a laptop in a cafe. Also they have “runners” - people on bicycles or bikes that snatches your phone and bag whilst through you hard on the floor - give it another decade I would say
Why do you list the UK as a good place for this? Top tax rate is 50% or 45%
Non-Dom rules. Get taxed on remittance basis. Only worth it if you have £££ and spend half the year abroad.
What about Nicaragua? Good option?
On a page called nomad “capitalist” and want to move to an anti capitalist country. Makes sense.
What about germany, they have high taxes, but germany is great and beautiful place to make money. Ive met people from netherland.
But Mr. Nomad, I don’t like the heat, the gross smells, the lack consistent quality, insects, noise, pollution, lack of safety etc etc etc, in all these Asian countries, Latin America. Middle East, no thanks, can’t stand that world and I left that part of the world. How do I stay in America/ Canada and pay very little taxes? I just prefer the quality of life in splitting time between OC in LA and Toronto.
@kayn6858 LOL 😂 ya I know
I'm actually in the same place as you. What's the point of being wealthy if you have to live in third world conditions?
Rich people belong in rich countries. This guy is a douche bag.
Can you ask Nigel Farage what compensation British Citizens received for a huge downgrade in their passports?
What did you mean by Portugal "is a bit back on track now"?
No more Golden Visa for example, Portugal is also having problems with dealing with too many people wanting to come in, you have to wait to get residence permit and so on because the immigration services can't keep up with the demand. That's what is on the news at least.
What are your thoughts on Peru?
Hi can you make a video about mooving in Africa, especially north africa is there any descent options ?
Morocco