I'm planning to go back to my native country after living in the US for 20 years. I made less than 50,000 per year. I don't have any property here, not even a car. Just want to go home. I never felt so alone in my life living here in the US after my husband divorced me for a younger US lady.
I''ll hold off the U.S. Renouncing thing. If my net worth has really grown into substantial amount... then that's when I'll do it. Right now my priority is to get out of the U.S. and get my freedom back.
Like clockwork! Me and my family love to travel and we’re leaving for good in January. You don’t have to earn 7+ figures to get out you simply have to prioritize! If it becomes more important to get out than to spend your money in other ways it’s pretty easy ❤
@@adamb3421 where's that? I'm looking for somewhere to take my family of 4 too where my money stretches much further for roughly the same life style. I make (before taxes) almost 100k. But am a renter with a cra not insurance and some Dr bills monthly. And we're having to cut corners every week!
Same question. I'm looking at Philippines right now. And maybe working contract jobs in the US part of the year, and staying there the other parts. Dollar buys more for sure! Like $1 =55 over there. Still not sure if that's dollar cost equivalency or not though. But I am looking!
1) stop caring what others think about you 2) welcome a new way of life with less money 3) become more spiritual 4) follow your soul We do things so that others accept us, but is it worth it?
Money is not the most important thing in life, as the old sayin goes. But, it still is in America. This man thinks that his money is worth more outside US. And he seems to think that not paying the US taxes will give him freedom - 😂😱 Oh, I am afraid that he will be surprised by other things that you pay abroad and how much having money obliges you to support the community- nobles obligé! He’ll learn, hard way.
I'm considering moving away from the US for a different reason. I cannot take the heat during the summer. I heard Scotland is very temperate. I can take the cold and darkness more than I can anything over 80*F (26*C). Plus I am fascinated with old ruins of castles from the medieval times.
1. Sell your stuff. It can cover costs like passport fees, suitcases, or things you will immediately need (toiletries etc.) once you land. 2. Find an easy online part time job that doesn’t threaten your limited income, use whatever skill sets you have and if you don’t have any, find something simple that does not require a lot of training. In a lot of countries you don’t need to make as much as you would need in the states. Make United States money and convert to the currency of where you travel to. 3. House sit. You can house sit for people all over the world, you pay for your transportation and the housing is free. 4. Find work exchange programs where they pay your room and board and you do some sort of work. Do your research on moving abroad on a budget. 5. Research countries with a low cost of living with a high quality of life. 👍🏾
Im American 41 and lived in Ohio, Georgia and finally South Florida. Never ever wanted to live here even as a kid looking at my parents. Work life balance is not sensible here. And we are so much more than how much money and careers we have. Hoping to be out of here to Mexico for a start asap
This makes me sick! I can't make it with a family of 4 on 100k a year, but I also can't leave. I need to find somewhere I can hold on to more of my money, and stretch each dollar even more! Was thinking Philippines or somewhere south America. But just don't know what to do. But gotta do something soon!
@@breakingboardrooms1778 I get it man. I hope not in America on 12k a year? There's no way I could make it off that for half a year. My woman raises the boys, and I work, but we should be MUCH better than we are right now. I'm on a second budgeting system, and still if I spend an extra 300 a month, our bank account goes down a hundred. This is getting scary. We wish to meet some Americans, or western folk that have moved to Philippines or Colombia that can help walk us through a trip down there to check out things and see if we can move there.
hahaha more like an ex-wife, Drained you mentally while in the relationship, financially after divorcing her, and still need to support with alimony after leaving her.
This is true… But you have to fight through that sentiment & comfort of knowing each other and logically see the bigger picture, what is best for you long term and the cost of staying!
Andrew, in your opinion do you think the US government will ever change the exit tax or do away with it entirely? I’m thinking once a tax is put in place it’ll never be removed.
Based on the US govt's extensive history of connivery and opportunism, I'd say yeah. They have no intention of rolling back any taxes ever. Unless the citizens, tired of being jerked around, revolt.
When is the just time you heard of the US government getting rid of taxes? Especially taxes that allow rich people to take their money out of the USA and not pay taxes on it?
@Life’s Tough The West is precipitously going to get worse. The interest in getting out will significantly rise as cost of living rises and standard of living falls. Its inevitable. This is a 21st century version of the fall of Rome.
I’m going to Mexico as soon as I get the chance. It will be easier for me to pay down my 2 credit cards from there being on social security, due to the lower cost of living. And I will enjoy a higher quality of life.
I was talking about the subject to friends of mine and they said the reason why an exit tax is justified is because even though you’re responsible for maybe starting your own business or however you accumulate it your money you had your education in the United States or whatever country it was and so you should pay an exit tax. Actually I’m on the other side of the argument.
I bought my tools at Home Depot, does that mean they own part of everything I build with the tools? I paid you for the tools now bug off. The sad fact is they think they own you.
That's the dumbest argument I've ever heard. You've lived there, paid taxes while there, paid for the education you received and the business you started. But you owe the US taxes for stuff you already paid for? Dumb. In fact, it's been well publicized and documented that the exit tax is to discourage people and companies from leaving the US Tax system and counting towards GDP.
My father paid for my private school education. I would need to pay him back, not the government. I then received a full ride scholarship to my local university because I earned it via studying hence good grades. I still had to pay for books, lab fees, etc which were not covered, only tuition. I owe the government NOTHING. That exit tax should be eliminated. Everyone should contact their congressman to demand it (among other issues).
Hi Andrew I follow a lot of people on UA-cam that moved to the Philippines in retirement how does this situation work if you move to the Philippines and in your opinion is that a good idea
Renouncing or losing your citizenship both happen under very limited circumstances. Both mean that you: No longer have rights and responsibilities as a U.S. citizen. Must become a citizen of another nation or risk becoming "stateless"
Could an American live overseas, renounce their citizenship, and still collect social security for life since they paid into it and also collect dividends from a couple of U.S. retirement accounts?
Social Security is wealth transfer from working folks to recipients of Social Security. You paid into nothing, but rather paid the elderly that preceded you when you were working.
One thing I have wondered about leaving the US is how they deal with citizenship relinquishment (as opposed to renunciation). If, for example, you left the US and became a citizen of Russia and signed up for military service, I’d imagine that would probably be considered a deliberate act of relinquishment. How does “relinquishment” differ from renunciation in terms of the exit tax? Or the fee associated with renouncing it? (Not thinking anyone would want to go to that extreme just to lose your citizenship, but it does have me curious given they differentiate between the two)
I don't think the US government recognizes relinquishing because you haven't gone through the process of renunciation (and gotten the certificate of loss of nationality). Marc Rich for example (though his case was unique obviously), decided to relinquish his US citizenship by publicly becoming a Spanish citizen (which at the time or maybe even now didn't allow Spanish citizens to hold another passport). But since he never actually went through the renunciation process the US said "nah, you still one of us" and went after him for tax evasion.
I moved from my birth country with my family to the US years ago. It was a rather traumatic experience personally, but it was the greatest transformation of my life. I can’t imagine living anywhere else.
Andrew, obviously, is very knowledgeable on nomad capitalism. Would just like to hear more about success stories from folks who have left their country, directly from the horse's mouth, that is, the people who have left their motherland. I know many people would want to protect their privacy and not talk about their experiences, but there must be a way to show, not just using statistics, how likely it would be to succeed leaving one’s native land. This is a glaring weakness in what might otherwise be a pretty appealing idea. To play the “devil's advocate,” if it were such a good idea to leave, why aren't more folks leaving? Maybe lots of them are, but we just don't know about them. Simply put, what are the risks? We all know that businesses fail all the time. If you ran into legal problems with your business, dealing with the legal system overseas, likely in a foreign language, could end up being “a bridge too far,” to put it mildly. Would your company be more or less likely to fail in a new country? There seems to be many, many ifs, ands, and buts, leaving some of us with the impression that making a move has too many moving parts. Then there’s always the notion that if you have to ask how expensive a luxury car is, then this means you really can’t afford it. So, it seems like nomad capitalism is primarily for folks who like taking big risks and aren’t particularly bothered by the possibility of losing everything, or almost everything, or just losing a lot.
Or stop earning money. I retired 21 years ago at 45 because I had enough money for the simple life I like best. Still in US but planning to move to SE Asia for the adventure, but also as preparing for medical and in-home help. Live in housekeeper $150/mo USD plus food. Registered Nurse live in about $500-700/mo USD. It will be much more expensive for me in SE Asia than Phoenix. Because my income is $0 I get free healthcare ($0 deductible/copay), free smartphone (LIfeLine), free internet (ACP). I own my house which has appreciated $2000/mo over the the past 15 years. I lose all that in moving...but I have enough. I never had the goal of dying with as much money as possible. I haven't had to even file income tax forms in years.
I'm a dual citizen (US and Thailand). But after living in Thailand for the last 10 years, I'm actually thinking of moving BACK to the US. LOL funny how that works!
For people watching this video. If you don't like US, please leave. Foreigners are literally lining up to become American citizen, so if you don't like what you have, consider it a good will to give it to others.
yep i’m leaving as soon as i get a 100k plus remote position then just gonna travel the world and enjoy life outside this shit country with a horrible president
I'm planning to go back to my native country after living in the US for 20 years. I made less than 50,000 per year. I don't have any property here, not even a car. Just want to go home. I never felt so alone in my life living here in the US after my husband divorced me for a younger US lady.
😂
@@williamkunte5361 Yep pathetic I know! But that's ok, I'll be just fine!
@@emma-gf5ql 🤣🤣
Where is your native country
I feel the same after 18 years here. Looking into my way out. The loneliness is USA is very true.
I did this in 1988 No regrets
@lifestough6155to Alaska, it was Russia then😂😂😂
It's time to go.
🛫 🇩🇴🏝
I''ll hold off the U.S. Renouncing thing. If my net worth has really grown into substantial amount... then that's when I'll do it.
Right now my priority is to get out of the U.S. and get my freedom back.
If you're going to do it, then don't wait - the longer you stay, the more you pay!
I still watch these videos even though I’m not a 6, 7, or 8 figure earner.
There are places you can go relatively cheap if you really want to change your location.
@@adamb3421 of course. Nearly have my Mexican citizenship. Yes Youre right.
Like clockwork! Me and my family love to travel and we’re leaving for good in January. You don’t have to earn 7+ figures to get out you simply have to prioritize! If it becomes more important to get out than to spend your money in other ways it’s pretty easy ❤
@@nativenomad001 where are you going? And why? Thanks
@@adamb3421 where's that? I'm looking for somewhere to take my family of 4 too where my money stretches much further for roughly the same life style. I make (before taxes) almost 100k. But am a renter with a cra not insurance and some Dr bills monthly. And we're having to cut corners every week!
Leaving the USA is the best thing you'll ever do
Same question. I'm looking at Philippines right now. And maybe working contract jobs in the US part of the year, and staying there the other parts. Dollar buys more for sure! Like $1 =55 over there. Still not sure if that's dollar cost equivalency or not though. But I am looking!
@Life’s Tough Dominican Republic
@Life’s Tough we have a house in Santo Domingo and just purchased a apartment in Punta Cana we're there about 3-6 months out of the year
America sucks
I agree
Great information, i make 100k a year but I hate my job so my life is very depressing in America I really need to leave.
1) stop caring what others think about you
2) welcome a new way of life with less money
3) become more spiritual
4) follow your soul
We do things so that others accept us, but is it worth it?
Money is not the most important thing in life, as the old sayin goes. But, it still is in America. This man thinks that his money is worth more outside US. And he seems to think that not paying the US taxes will give him freedom - 😂😱 Oh, I am afraid that he will be surprised by other things that you pay abroad and how much having money obliges you to support the community- nobles obligé! He’ll learn, hard way.
@@SculptExpress-gv8jpok
Leaving the United States is the NEW American dream 😂😂😂
I'm considering moving away from the US for a different reason. I cannot take the heat during the summer. I heard Scotland is very temperate. I can take the cold and darkness more than I can anything over 80*F (26*C). Plus I am fascinated with old ruins of castles from the medieval times.
UK is now becoming more and more poorer .
Andrew explains things like a musical conductor
US has already gone wild
It was wild all time, now gone in dust. :)
How about an exit strategy for those on a limited income?
Hoorah!!
Yes!!! Jeez
1. Sell your stuff. It can cover costs like passport fees, suitcases, or things you will immediately need (toiletries etc.) once you land. 2. Find an easy online part time job that doesn’t threaten your limited income, use whatever skill sets you have and if you don’t have any, find something simple that does not require a lot of training. In a lot of countries you don’t need to make as much as you would need in the states. Make United States money and convert to the currency of where you travel to. 3. House sit. You can house sit for people all over the world, you pay for your transportation and the housing is free. 4. Find work exchange programs where they pay your room and board and you do some sort of work. Do your research on moving abroad on a budget. 5. Research countries with a low cost of living with a high quality of life. 👍🏾
@@auntielu4394sounds hard
Im American 41 and lived in Ohio, Georgia and finally South Florida. Never ever wanted to live here even as a kid looking at my parents. Work life balance is not sensible here. And we are so much more than how much money and careers we have. Hoping to be out of here to Mexico for a start asap
This makes me sick! I can't make it with a family of 4 on 100k a year, but I also can't leave. I need to find somewhere I can hold on to more of my money, and stretch each dollar even more! Was thinking Philippines or somewhere south America. But just don't know what to do. But gotta do something soon!
I wish I had 25k a year lol I'm currently living on less than 12k a year.
@@breakingboardrooms1778 I get it man. I hope not in America on 12k a year? There's no way I could make it off that for half a year. My woman raises the boys, and I work, but we should be MUCH better than we are right now. I'm on a second budgeting system, and still if I spend an extra 300 a month, our bank account goes down a hundred. This is getting scary. We wish to meet some Americans, or western folk that have moved to Philippines or Colombia that can help walk us through a trip down there to check out things and see if we can move there.
I want to leave the USA. ?
US is like a toxic gf. Would not leave u alone
hahaha more like an ex-wife, Drained you mentally while in the relationship, financially after divorcing her, and still need to support with alimony after leaving her.
This is true… But you have to fight through that sentiment & comfort of knowing each other and logically see the bigger picture, what is best for you long term and the cost of staying!
It was so, not anymore.
How about people with Trade Skills that make 50k or less.
Andrew, in your opinion do you think the US government will ever change the exit tax or do away with it entirely? I’m thinking once a tax is put in place it’ll never be removed.
Based on the US govt's extensive history of connivery and opportunism, I'd say yeah. They have no intention of rolling back any taxes ever. Unless the citizens, tired of being jerked around, revolt.
When is the just time you heard of the US government getting rid of taxes? Especially taxes that allow rich people to take their money out of the USA and not pay taxes on it?
I’d go with that.
Well, there is 1 way to remove it.
Three words: crypto mixer.
Im almost thinking that the homeless on welfare are living the right way
Excellent video Andrew Thanks! Its is going to age well, Especially in 2023-2025. 👍
Glad to hear it. Thank you.👍
@Life’s Tough The West is precipitously going to get worse. The interest in getting out will significantly rise as cost of living rises and standard of living falls. Its inevitable. This is a 21st century version of the fall of Rome.
In brasil for the last year and half passive income.. Definitely trying to stay permanent
I’m going to Mexico as soon as I get the chance. It will be easier for me to pay down my 2 credit cards from there being on social security, due to the lower cost of living. And I will enjoy a higher quality of life.
Thank you Sir!
I was talking about the subject to friends of mine and they said the reason why an exit tax is justified is because even though you’re responsible for maybe starting your own business or however you accumulate it your money you had your education in the United States or whatever country it was and so you should pay an exit tax. Actually I’m on the other side of the argument.
I bought my tools at Home Depot, does that mean they own part of everything I build with the tools? I paid you for the tools now bug off. The sad fact is they think they own you.
That's the dumbest argument I've ever heard. You've lived there, paid taxes while there, paid for the education you received and the business you started. But you owe the US taxes for stuff you already paid for? Dumb.
In fact, it's been well publicized and documented that the exit tax is to discourage people and companies from leaving the US Tax system and counting towards GDP.
They're just rationalizing their own servitude. Ignore them.
I paid about $100k for my education in the US. I don't owe anyone anything on that.
My father paid for my private school education. I would need to pay him back, not the government. I then received a full ride scholarship to my local university because I earned it via studying hence good grades. I still had to pay for books, lab fees, etc which were not covered, only tuition. I owe the government NOTHING. That exit tax should be eliminated. Everyone should contact their congressman to demand it (among other issues).
Step one: be wealthy. Wow thanks. So helpful.
Great Job Happy Holidays
Would love to see a how to leave Canada cheap and forever video too!!!!!!!;
Countries we can claim asylum in?
Trudy giving you way too much soy filled food and liberals.
Hi Andrew I follow a lot of people on UA-cam that moved to the Philippines in retirement how does this situation work if you move to the Philippines and in your opinion is that a good idea
I'm also looking into this myself. I've gotta find somewhere that will leave me alone, and my money will stretch further than it does.
What would be the ramifications of giving up your 🇺🇸citizenship ?
Renouncing or losing your citizenship both happen under very limited circumstances. Both mean that you: No longer have rights and responsibilities as a U.S. citizen. Must become a citizen of another nation or risk becoming "stateless"
I want to travel soon I'm waiting my passport visa
I was born in the uk 🇬🇧 lived in the US most of my life a daul citizen since birth if I went back would I have to still pay the taxes to the USA
Could an American live overseas, renounce their citizenship, and still collect social security for life since they paid into it and also collect dividends from a couple of U.S. retirement accounts?
Next question how?
Yes.
@@andreavandekleut6379 I appreciate that. I shall have to look at the step soon.
Social Security is wealth transfer from working folks to recipients of Social Security. You paid into nothing, but rather paid the elderly that preceded you when you were working.
@@graspunwrapped1124 interesting point.
I encourage all to do research on what a "US citizen" is. The majority of Americans are not "US citizens".
We got US citizens because we do not need to come in the US when retired, US sends money to us. :)
Being a Real Estate Investor have an impact on my tax situation? I own multi family properties that produce income for me.
One thing I have wondered about leaving the US is how they deal with citizenship relinquishment (as opposed to renunciation). If, for example, you left the US and became a citizen of Russia and signed up for military service, I’d imagine that would probably be considered a deliberate act of relinquishment.
How does “relinquishment” differ from renunciation in terms of the exit tax? Or the fee associated with renouncing it?
(Not thinking anyone would want to go to that extreme just to lose your citizenship, but it does have me curious given they differentiate between the two)
I don't think the US government recognizes relinquishing because you haven't gone through the process of renunciation (and gotten the certificate of loss of nationality). Marc Rich for example (though his case was unique obviously), decided to relinquish his US citizenship by publicly becoming a Spanish citizen (which at the time or maybe even now didn't allow Spanish citizens to hold another passport). But since he never actually went through the renunciation process the US said "nah, you still one of us" and went after him for tax evasion.
America the psycho ex-girlfriend never lets up eh? Hahaha oof
Dying for insatiable little Putin is soo worth it 😂
I want to leave so bad, but I don’t wanna leave my dog behind.
Andrew, how long do you have to stay in each country before you decide which one you want to get a passport from there?
I moved from my birth country with my family to the US years ago. It was a rather traumatic experience personally, but it was the greatest transformation of my life. I can’t imagine living anywhere else.
Look around how other countries treat their citizens, I am sure you’ll find a better place because I have.
Traumatic is the best way to explain it!! I agree!!
@@ruststar where do u recommend?
Vietnam to the US?
So, where?
don't go there in the first place ?
🔥🔥🔥
So, what I’m hearing is you have to be rich to leave.
Albania and Poland are the best countries in the world for digital nomads, retirees and investors.
Why?
@@iammarwanyo valid question. I too wanna know.
@@iammarwanyo Low cost or living, very good organic food, beautiful women, nice beaches, mountains and opportunities for business to name a few.
I have Albanian American friends and even they don't want to visit Albania. They say it is a "mafia state" country. No thanks.
Albania is all mafia and corruption.
around the world 🌍
Andrew, obviously, is very knowledgeable on nomad capitalism. Would just like to hear more about success stories from folks who have left their country, directly from the horse's mouth, that is, the people who have left their motherland.
I know many people would want to protect their privacy and not talk about their experiences, but there must be a way to show, not just using statistics, how likely it would be to succeed leaving one’s native land. This is a glaring weakness in what might otherwise be a pretty appealing idea.
To play the “devil's advocate,” if it were such a good idea to leave, why aren't more folks leaving? Maybe lots of them are, but we just don't know about them. Simply put, what are the risks? We all know that businesses fail all the time. If you ran into legal problems with your business, dealing with the legal system overseas, likely in a foreign language, could end up being “a bridge too far,” to put it mildly. Would your company be more or less likely to fail in a new country?
There seems to be many, many ifs, ands, and buts, leaving some of us with the impression that making a move has too many moving parts. Then there’s always the notion that if you have to ask how expensive a luxury car is, then this means you really can’t afford it. So, it seems like nomad capitalism is primarily for folks who like taking big risks and aren’t particularly bothered by the possibility of losing everything, or almost everything, or just losing a lot.
@@svensulzmann4282 Thank you.
i hv st. Kitty second passport i want to settle in germany what can i do
Or stop earning money. I retired 21 years ago at 45 because I had enough money for the simple life I like best. Still in US but planning to move to SE Asia for the adventure, but also as preparing for medical and in-home help. Live in housekeeper $150/mo USD plus food. Registered Nurse live in about $500-700/mo USD.
It will be much more expensive for me in SE Asia than Phoenix. Because my income is $0 I get free healthcare ($0 deductible/copay), free smartphone (LIfeLine), free internet (ACP). I own my house which has appreciated $2000/mo over the the past 15 years. I lose all that in moving...but I have enough. I never had the goal of dying with as much money as possible.
I haven't had to even file income tax forms in years.
wow iove it
I'm a dual citizen (US and Thailand). But after living in Thailand for the last 10 years, I'm actually thinking of moving BACK to the US. LOL funny how that works!
Did you run out of money/resources?
I think it’s normal to take advantage of moving to another country if that’s possible, regardless of motivation.
@@florencia2771 why would I "run out of money"? I'm a professional working adult that contributes to society.
@@DeanBKKdon’t come back to the USA 🇺🇸 😱nightmare
For people watching this video. If you don't like US, please leave. Foreigners are literally lining up to become American citizen, so if you don't like what you have, consider it a good will to give it to others.
yep i’m leaving as soon as i get a 100k plus remote position then just gonna travel the world and enjoy life outside this shit country with a horrible president
Yeah that's why we are watching the video. Stupid American. Lol
You realize that citizenship isn't a limited commodity where one person has to give it up to someone else can get it.
@@nomadcapitalist Andrew, please ignore that person. Respectfully.
We will leave if Americans do not enter our countries and order what to do, what not? :)
thats what the globalists want bozo, STAY AND FIGHT
@Life’s Tough Yeah!
#Move2Russia
Good luck with that.