How to Become a Multimillionaire Overseas (It’s Not Tax Savings)
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- Опубликовано: 16 июл 2024
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How can I become a multimillionaire?
Currently, if you want to be in the top 1% in the United States, you have to be worth about $11.09 million. The threshold is lower to become part of the global 1%, but the decamillionaire level serves as a rough benchmark to aim for.
And if you want to become an ultra-high-net-worth individual, you have to beat that $11.09 million by several times - by definition, only a fraction of people will ever achieve this.
In this video, Andrew shares how to become a multimillionaire overseas.
00:00 Start
0:29 Living Overseas
5:10 Challenges Overseas
7:21 Moving to Bagkok
7:45 Moving to Cancun
8:51 What Our Clients Are Saying
The Nomad Capitalist is the world's most sought-after expert 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."
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Nomad Capitalist has created and implemented plans for 1000+ clients and helped them to go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. We've built our team around our holistic approach to serving the needs of globally-minded entrepreneurs and investors.
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.
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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.
It also depends on how old you are. If you are 55+, maybe you don't want to have to struggle and fight anymore and just relax....
Truly, it depends where you go.
You might have another 40+ years to live, as life expectancy and healthcare breakthroughs happen.
I hope we all find that spark and zest for life. “The best is yet to come”. People who focus on the future seem happier than those who live in the past.
Oh yuck I’m not living in a minivan by choice! Give me a one euro home to renovate or a place in France or somewhere interesting (to me) to live! And safe. No mass shootings on a routine basis because gun nuts want their “freedom.” Which is taking away freedom from everyone else.
You're still a young man in this day and age :') Rwanda is getting a lot of marketing in the Western media. Back story amazing 👏 rising from the ashes I'm such a short space of time. I would say visit, stay for 3 months and see if it's for you and if the hype is real.
@Pat Risberg not for much longer, though. CBDCs will track everyone, everywhere.
Enjoying life is what matters most. Forget what other 'influencers' criticize about people wanting _free time._ (PBD, from a Middle Eastern country comes too mind.)
Thanks Andrew. Loving your videos. I am over 55 but don't see myself sipping rum punch on the beach in "retirement" as a daily lifestyle, but rather continuing to work for as long as I have my health, and watching my business grow. Being involved and interested in my business every day I think helps keep me energized both mentally and physically. All the better if there are opportunities where I am treated better by the culture and government.
As a young spirited 53 year old woman, am happy to buy a Quinta with olive trees and grapes in Portugal or a seaside pozi. Love the Algarve, Azores, Funchal. Wanna one anything. Grow and eat my own fresh fruit and vegetables or buy from markets. There's more to life than chasing money and dodging taxes. Shit hitting the fan all over the world...
Very happy how he reasoned about Cancun. I don't get it myself either. What's the point of going when prices are the same as in the U.S., the culture is very Americanized, there's American's everywhere? It's like, for that, you might as well have gone to the Florida Keys and get fish tacos.
Very well said. Would love to more content like this. Much love from Australia
Timing with this video is perfect! I just moved to Pattaya, Thailand, & also been in Bangkok for a week, and just moved to nice long-term & cheap apartment. Thanks you, Andrew!
yeah be careful out there, thailand is so corrupt I refuse to live in a place with no sense of justice, even the monks will steal from you
@@IMPERATOR540 wow!!
@@IMPERATOR540 thx for warning. but, really? I'm coming from ex-USSR countries and honestly didn't noticed that. How was that in your experience?
@@IMPERATOR540 I doubt he is living in Pattaya to hang out with monks ;)
@@Southeastasiantraveler yes every Thai is out to rob you...i don't give a f#$k if that offends anyone...please go there and find out yourself out
This is one of the best videos you've made. Living with intention, use the energy & positive emotions we can gather to propel ourselves. I'm moving to the Philippines and see opportunity everywhere. Immediately, I'm networking with the best people who have positive growth mindsets that is rare in that area. Thanks!
Which island?
I am glad u started posting these videos again, I understand the concept of stepping away however glad u are back
Awesome vid Thx Andrew! Lookin good, looks like you live what you preach!
If you want to get rich, then sell to people who are rich. I've seen people lose everything trying to sell expensive things in poor countries. Also research the work culture.
But there are more people = more customers in many poor countries like 1.3B Indian, 219M Brazilian, ~275M Indonesia, 130M Mexicans, 1xx Millions Vietnamese or Pakistani etc, all are relative poorer than Europeans (some poor European countries cannot afford to buy although they also want to buy your products) and Americans, so sell more goods to those majority poor countries still make handsome profits, the world have more poor countries than the rich a few countries! How to address the needs of those majority-of poor countries massive population in the world?
Also wondering if you sell lower price to the poor countries then do you worry about somebody buying and free pizza way too expensive country to make some money ha ha ha! Just like a Apple is made in China then they sell to America for over $1000 but they also sell to a China about the same price but if you want to sell iPhone to poor country do you have to lower the price otherwise people cannot afford to buy it! But if some middleman buy it in the pool country is so you’re back to another rich country for 1000$ to make profit what should you do? Hmm but you don’t want to miss the poor country which has more population means more customers! Tough questions that need solution
I’m in India 🇮🇳 then UAE 🇦🇪 then going to Mexico via UK sort things out and move out wanted to do this since 16 - a few decades later 😮I was waiting to meet someone who wants to go but like everything in life you must forge ahead alone if there is no one of similar thinking 🤔
You said, "Make sure you're making contacts with higher-level folks." Now that perked my intrigue!
Awesome comments Andrew. I agree about leveling up and about networking opportunities 👏👏
Good stuff brotha. Def need to find a place you feel comfortable in and is conducive to your goals.
I quickly became a millionaire in Vietnam... as soon as I exchanged $50 USD for VND 🤣
😂😂😂
1.1 million yen move i costs for Japan rentals
Solid content Andrew!!!! Thanks
Thank you.
Thank you Andrew, you have inspired me to push above my previous set point for wealth creation, outside of my country and comfort zone. 🇨🇦
Hit up 🔝
That's a good point and I have been guilty of complacency at a much lower level than you, just because I knew I could stay at my overseas place forever if I wanted to and just ditch the rest of the world. In the end it's about choices, what life choices lead you to be the person you want to be? Sometimes you're sitting on the beach and could stay there forever, but it is just not taking you to who you want to be.
Gold! Agree 100%!
OMG KL is so much better than Thailand! Personally I'd love to do Penang. And yes so many people just want to recreate where they live in the US vs living in the country where they are. I don't understand that.
This video was the smack in the mouth I needed. I've lived in chaing mai for 8 years now and no one has ever put it quite like that to me. But I've felt it bubbling under the surface for many years now. Like wasting away. Like a lion in captivity I describe it as. Yes! Thank you!
Here is a quick one. Rwanda is one of the up and coming. Also they are attracting investors. I am moving to my 6th country soon. A hidden gem!😊
@@svensulzmann4282 I also come from Genocide committed land. Past is past. But how they developed from their mistakes and go forward is what you must judge currently.
As a young spirit 53 year old, am happy to buy a Quinta with olive trees and grapes in Portugal. Love the Algarve, Azores, Funchal. Wanna owe no-one anything. Grow and eat my own fresh fruit and vegetables or buy from markets. There's more to life than chasing money and dodging taxes. Shit hitting the fan all over the world...
Lower Context Culture -- thanks for the new "deep dive" topic 🎉
Glad you liked it!
Make a video about credit (credit karma)when you leave the USA ( what happens to your credit?)
Thank you Andrew!
I agree, I think you're right.
Don't follow the herd
Andrew, are you saying you might help those of us earning in the 6 figures as an entrepreneur? Wondering how to expand my client base overseas.
Brilliant ..
Love the message of this video, Andrew! If you‘re stuck in the rat race, doing what everyone else does, the first step is to PULL OUT of your habits, leave your environment. And then use that new energy and excitement for your benefit. Please, share more of your lifestyle, would love to see a vlog!
I concur.
networking sounds good
Has the next NC event venue been announced yet?
David Greene. Mastery. Excellent Andrew!
Robert Greene**
I live in a rural area and would like to start working towards starting a nomad business. My question is, for networking up with higher reach individuals above my current level and outside of my location, what would be your recommendation for connecting with them? LinkedIn groups? Love the videos.
ditto- I'm not quite sure how to make contacts when i live in a rural bubble, working alone.
Didn’t Andrew say he wanted to make less videos? 😄 can’t stop the hustle it seems
I don’t mind though. His videos are good. ❤
Best video
Thank you.
How would you go about creating an online business in the US but living full time in Thailand?
What do you think of Benin,(West Africa)?
Andrew you love Malaysia but they don’t allow Israel citizens entry! I am Jewish and I can’t swallow this, not at all! Turkey allows a Jew citizen, what happened to Malaysia? Question is genuine. Dylan Rae Appenfeldt
Come on...I could've come up with this stuff myself; where's the meat?
Trade your capitol for that countries foreign currency.
Whats your thoughts on a cashless society
100% against !
@@Carolinapetroska sweden is already apparently as well as norway why you against it just asking no bias for it against i just want to know folks opinions
Without getting into personal philosophy or politics, a cashless society is simply not smart. Having worked at a bank and helped my wife run a start up retail business, I can assure you that systems go down, a lot. When someone's card readers go down and you are at the only gas station for miles and can't make it to the next one, you need another way to pay. At the bank, our card processing company had an issue which shutdown all of our debit cards for more than a day. If our customers had no other means of payment then they were up a creek. While I preferred not to get cash as a business owner, it simply isn't always feasible. Sometimes it was all we could had the ability to accept.
@@CowboyTay i want to influenced today by something important and useful can you kindly please tell me your personal philosophies and your personal politics because your erudite and articulate paragraph really opened my eyes and I'd love to be opened even more please
@@ghostwriter991 Thank you for the compliment. At the risk of falling short of your expectations, I'll start by saying that a completely digital currency would take too much control out of the hands of the individual. Unlike decentralized currency (like crypto) a centralized currency like a digital dollar would be controlled by someone. Maybe the Federal Reserve or the Treasury Department or maybe your bank like JP Morgan or Wells Fargo, but rest assured someone will have the ability to control your money and the use and receipt of that money. They could keep you from using certain vendors or put you out of business by not letting others spend money at your business just based on the personal politics of whoever is in charge at the time. Its not really a right, left, or center argument as any group could be vulnerable to payment discrimination.
Not advice for everyone just those that already have millions.
Nothing,sumware tropical
For immigrants, the US is still probably the best place to start a company and create wealth. Once successfully, it's a lot easier/simpler to make a move.
Few years ago everybody was a billionaire in Zimbabwe😂
When is your next public speaking event
I have friends on my little Greek island that are perfectly happy living off $500 a month. Fishing ,walking, keeping chickens, growing grapes and tomatoes and potatoes and watching the sun rise and set. Reading books, living without TV and the rat race .Living in a small shake they build themselves. And living to 100. Why chase the $ which ends up giving you cancer. in the end you become a very very boring person with nothing to talk about except where to move to avoid taxes and get 2nd and 3rd passports.
Nowhere paradise on earth. We are in the same boat living in hell.
Present
👏 👏 👏
Laughs in non-profit company and 'public' skills mastery 😅
Do you want to be an instant millionaire, move to Japan.
Do you want to be an instant billionaire, move to Venezuela.
Do you want to be an instant multi trillionaire, move to Zimbabwe.
I actually like this channel. I find it best RUclips channel for this year. It adresses always my thoughts and ideas.
Bali is too much comfortable, like hakuna matata lifestyle maybe 😅. I believe westerners prefer Thailand is that because they're racist against Muslims in Malaysia, actually Islam in Malaysia is very strong, but that's why actually Malaysia is better than Thailand in every aspect.
Hit up 🔝
Apparently anybody can become a multimillionaire in Venezuela
I find very difficult to find more well off friends that don't see the world in right wing coloured glasses. 😢
Also I like to add no matter where you move and how much money you have...you will always be treated on the basis of your skin colour. I am brown Asian, although I am British by citizen born and raised in London, I now live in the middle east I still get racially offended and judged by directly trying to identify my skin and face by being called an Indian. So remember to all the ethnic minorities here nomad capitalist work wonders for white man not for the other!
Indians aint asian but stop trying
Perpetual victim. Whites are the minority in London. Whites are the minority in most large western cities.
Better to be a large fish in a small pond than a small fish in the ocean. Go to a place filled with brown people and avoid those who would judge you based on skin color.
@@USARealityCheck easy said than done. My choices are limited as compared to my white peers.
Well imagine being a woman of colour… I can’t even fathom how unserious people will take me once I’m ready to go.
I am poor, can you give me an avise?
Don’t be poor.
@@waynejpark560 how?
Hit up 🔝
@@juh6155 Hit up 🔝