How to Become an Ultra High-Net Worth Individual
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- Опубліковано 19 чер 2024
- nomadcapitalist.com/
Wondering how to become an ultra high-net worth individual? Here are my nine best tips to use to increase your wealth.
Today's tea is TWG's New York Breakfast Tea: twgtea.com/teas/packaged-loos... (NOT a sponsored link)
0:00 Building long-term wealth
2:28 Intentional mindset
3:48 Being wealthy as your top priority
6:21 Passion for work
7:37 Focus on goals, not numbers
10:15 Increase your risk tolerance
11:35 Be self-reliant
13:45 Set targets
18:50 Focus on active income
20:54 Save more than you spend
22:07 Don't be cheap
23:53 Diversification
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
Work with Andrew: nomadcapitalist.com/apply/
Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.
Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
About Andrew: nomadcapitalist.com/about/
Our Website: www.nomadcapitalist.com
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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.
During Quarantine 2020, my wife and I realigned our vision. She got her real estate license, we got another property, and now we are looking at real estate in Cambodia. Never thought I’d be an international businessman but here we are lol.
KMN
Nice. I live in Cambodia and it’s a good place to invest in real estate.
SE Asia is risky not only for fraud in ways you would not imagine but also for your health as it helps if you look Chinese as there is a massive hatred for ''Caucasians'' in these Mongol countries that have no human rights, carry out ethnic eradication on a whim and Genocide so who the hell would want to invest in such a place..
Are you blogging about that somewhere? Investing in cambodia sounds crazy lol. I don't trust these third countries.
@@iawarenow658 I didn’t say I was moving to Cambodia but I get what you’re saying.
A high ultra net individual is a common man who has saved for a rainy day just to reinvest that same savings for another rainy day in the sense that he does not have to go back to that same savings.
I might not attain the so called high ultra net individual but i'll tell you what, i am tired of leaving X sum in my savings.. i need it to work for me.. i have been looking at the stock market but have little know how about it, do you engage ?
@@tamarahudson3612 Yeah, I am CONNOISSEUR of great investments, i love to see things grow My advisor is Lucy Maria koss, You can look her up on the internet if you wish to connect for a better run down, i believe thats the best i can do.
@@samowens9015 Thanks for sharing..i googled her and came across her webpage, i love what i see.. i can tell she is smart.. i do hope she replies me soon though. 😊
@@tamarahudson3612 Its 2021 we all should own digital assets.
Every driven 20-something needs to listen to this. A lot of wisdom here.
Thank you!
Nomad Capitalist: How to Beome an Ultra High Net Worth Individual
Key Take-Aways:
1. Focus on the Goal not the Numbers (@07:39)
2. Take More Risks (@10:16)
3. Rely on Yourself (@11:37)
4. Set Targets (@13:51)
5. Increase Your Active Income (@18:52)
6. Save More Than You Spend (@20:56)
7. Live Wealthy Live Rich (@22:21)
8. Diversify What's Left (@23:55)
#UltraHighNetWorth #NomadCapitalist #OffShoreInvesting #OffshoreBanking
Great video. I first ran into you, your channel and concept through Richard Copper over at Entrepreneurs in Cars.
Thank you. I was looking for this comment
54 ,retired chef at 51 .every single thing paid off .
I want to grow wealth so that I can actually have control of my life and be able to make decisions without wondering if I'll go broke because of it.
Open a business
Amen.
You should have gone for civil-service, then :)
I used to buy homes, take a mortgage and couple years later pay it off and it felt good for a while. Now I actually take pleasure in arbitraging the bank, taking a loan for 1.5% while being more nimble than the bank and deriving higher returns. Once I have the ability to pay it off at any given time (if interest rates go up for instance), I feel comfortable using OPM (other people's money). It's pure fun to see the bank clerks face when they know my account has ten time the loan I took, not fully understanding why I even took it. It is the same as getting a job when you don't need one, you have all the fun.
That's why I finance equipment for my company... although I pay quite a bit more than 1.5%. It's still less than half of what I make investing my money.
@@lilacdoe7945 and all those deductions...!
I protest and strongly disagree... You will lose in long run
@@Versatilad are you like Dave Ramsey who pretends not to know the difference between good leverage and bad leverage? Real estate overall has only ever dropped in 2008.
As long as OP invests conservatively it is a better use of capital, but if they spend the money or get too speculative then it could be bad.
P.S. look at how many corporations have 0 long-term liabilities. There may be one, but I've never seen it.
@@Versatilad John Maynard Keynes said once: "In the long run we are all dead". I have been doing it since 1989 and about to retire in 5 months, get back to cash only (well indexed to inflation), so it has worked for me no matter how much you disagree.
My key strategy was to prioritize getting paid in experience over monetary payment in my 20's. I sought small companies, even with major "flaws" to work at where I could shine early on and get direct influence over top level business decisions, or at least be involved in the thought process, strategy, execution and results. It gave me the confidence to know I could make more correct decisions than not with a company of my own without risking my own capital. In large or more structured companies I dont think I would get as many opportunities so early on.
How did it work out?
Is that more valuable than working at a “name brand” company?
Points that resonate with me (100% believe in this) is: 1. No Debt (actually much easier to get things done and reach your goals) 2. Live Rich (not at the expense of point # 1).
I like Andrew, he has great presentation skills
He does but I’d recommend against having references to the likes of Dan Lok and Robert Kiyosaki.
@@stephenb7704 🤣. My exact thoughts
@@stephenb7704 Hmm, ok, but why?
Agreed, very old school traditional businessman-like. Everyone else on youtube is yelling in my face, begging for likes and subs.
friendly tip: embrace (even for a little bit) the minimalist mindset, that will help you stop buying useless stuff that you think you need.
you'll start noticing the difference between how much you earn and how much you spend.
Agreed
@@colinesquire2480 Yeah, but that can get a bit boring. Watches, cameras, binoculars can be exciting and useful, depending on your hobbies.
@@GapBahnDirk in which case they're necessary and useful, which minimalism embraces- the emphasis in the original comment was 'useless stuff that you THINK you need'. Having good use for something fits well with minimalism, otherwise how would individuals cook their food? On a stick over the gas cook top flame?
For me buying stuff is a drag on my energy. After the fun of buying something it becomes an anchor. Cleaning it, organizing it, keeping it from getting broken from the kids, buying a larger house to keep it.
Just figure out what you need to do what you really want. If you love boating often buy a boat. If you love boating twice a month then rent.
The best tip is putting a real number on your preferred lifestyle. Thank you for sharing some of your personal numbers. I would have thought that lifestyle cost considerably more. A few moderately priced apartments in affordable countries would cost me less than 1 purchase in South Florida. You have shown me I am closer to achieving this than I thought. My business is location independent , but still in the compounding phase. Hopefully next year I can leave my six figure job. I'm almost there it is so close i can taste it !!! Andrew , you and the whole Nomad Capitalist team are an inspiration to all of us that are already somewhat successful and on our way to the next level !!!
We "winter" in PR for 3 months for less than 3 weeks at a fancy all inclusive for last 10 years. Once you can stay for a time foreign is pretty cheap. Wage owners on a vaca get screwed big time. Oh 3 bed condo on beach 2 golf courses etc.etc. Big contingent from Hamptons. Yo people with an actual intellect. We are the young ins at 67.
Wow - it was really sobering when you said " You really can't retire on a Million dollars very well" . The idea that you need at least 10 million or more to have a comfortable lifestyle , and not even a particularly opulent one, really brings home how money is no longer a particularly good store of value. Thank you for the heads up!
10 Million not enough if you want to live the rich lifestyle like him or the top 10%. There are lot of places you can live very well with just 1000 per month.
i don't believe this at all. He apparently doesn't do much research in stocks. A million in stocks, good ones like Amazon, Microsoft, Apple aren't going anywhere and technology is everything now, and this pandemic has really proven that nothing came crash the market for long, so it's easy to have reliable 20% avg returns in Tec and that's 200K a year interest you can live on and never touch the principle. That is a ton of money living most anywhere in the world. Your just greedy if that isn't enough. Even for your family and when you die you leave that principle to them and teach your kids how to manage finance & stock. Compound Interest. Get a few airbnbs with the credit you built and let them be paid off as well
@@davelawson2564 I don't see anything Andrew has that shows he's needing 10 million. He doesn't live that extravagant a lifestyle..
@@Wolfsheim23 he's also not retired yet. My guess is, that most all of his living expenses are put through his businesses. Retirement is different - as I'm just at that point and now have to pay for my own fuel and, it's no longer a tax expense. A huge difference.
1m gives you 3-5k income a month at best. Add up a 5-10% inflation to your “income” and you will end up with only 1k purchasing power after 5-7years of retirement. 5-10m is a new 1m nowadays.
Living intentionally resonates with me the most. Actively shaping one's life and environment has helped me in other areas. So why not business!
Man, this is probably the single most realistic and high quality content on this type of lifestyle/mentality.
It's so much more than being a simple libertarian.
You are talking about actually taking conscious actions in order to live better, now and in the future.
Perfect videos, keep up the great work and thanks for the time you've put in them!
A great list. I would just add that you need to find and surround yourself with like-minded people since most people are not interested in learning to truly build and maintain wealth.
He did mention that a bit
Even when you tell them how you're doing it and they can see the proof. It's like everyone thinks, "good for you, but I can't do that."
This so much this, surround yourself with success and learn everything you can. A day you go without Learning something really is a day wasted.
@@momentumstocks3493 Take it easy on the "ignorant", seems harsh. I would go for "Dependant" or "Vulnerable".
where does one find these people?
Everything you said is spot on. I just have one problem, i like making money and my biggest joy is giving it to those who have no method of making it. You could say i like having people around me doing better then me being far from their reach. As you are thinking what kind of plan is this. Well so far ive gotten better returns financially and health just from that
What do I think was the best point(s)? Well, several mistakes I made that you mentioned. Number one (and maybe my biggest mistake) paying the banks to loan me money!!! 2. Spending more and saving less. 3. Living in a high tax country and state (USA and California. God I hate to think of all the money pissed away on special interest groups). However, I love all your points in this video, in fact, so much so that I shared it with my sons. Great job.
What gets on my way is fear! And the thing I learned is that it’s important to take the first step and be persistent, lastly get rid of all excuses by focusing on solutions to most common problems if you think outside the box you might be alone.
Just discovered your channel and the tips regarding mindset, risk tolerance, and independent living pinged my radar. For the last few years I've been working hard at changing my mindset and also learning how to market my skills by listening to people like you, Robert Kiyosaki, Bob Proctor, etc and I've been reading Think & Grow Rich by Napoleon Hill to overcome limiting beliefs about wealth (rich people are greedy, money is the root of all evil, ad nauseum). Risk tolerence, especially as a visual a painter, taking steps and meaningful action to overcome the myth of the starving artist by learning marketing (still new to all this but it's like a whole new world has opened up to me) and being independent. Forging my own path through life and ignoring all naysayers and popular opinions that keep people poor. Everything you have stated is all true and worth it's weight in gold!
You and Dave Ramsey really make me zoom out and think about the big picture... What kind of life I want for myself etc
Great advice, Andrew! What resonated with me is the concept of not actually needing a "Starting Over Fund." After having the financial rug pulled out from under me and losing everything a few years ago, I had figured out on my own that I needed to set aside money in some kind of an emergency fund account. However, in this video, you've got me thinking more expansively; to consider what it would be like to get to a place where I wouldn't even require a Starting Over Fund at all. Going next level with my mindset on this!
It’s rare to find so many gold nuggets in one spot. I hear you talk and think “this guy gets it”. Although I happen to be a “more” kind of person.
Great video! I like these more in depth format. What personally resonated with me the most was focusing on active income. I started my career in real estate as a young man never quite made my stride. Ended up losing everything because I focused so much on passive before actually building a foundation of liquidity first. Now I'm in digital marketing and am focusing on developing lasting skills that generate consistent profits. Just passed 6figures and am now working towards 7figures revenue from my business. My plan is to do similar to what you described about having a strong cash position while traveling the world to find where I'm both treated best and can find the best opportunities to invest money for the longterm (5-10 year cycles). Currently 27 and my target is to be in the USA 1% by 32. Thank you for these awesome videos!! Very helpful
You're welcome, Anand. You can do it.
I want to live a life where I can give freely and spend freely, Great tips, I love the set targets, and intentionally mindset. You got me thinking differently on having real estate and bank accounts in other continues
I'm earning poverty level wages of $1200 a month, so it's challenging to imagine, define, and set goals that go beyond what I am already used to surviving with financially. My first goal has been accomplished: 1 year working under the table, no W2 work, no taxable income to report. Money earned, I kept. What a rewarding feeling. Next up, remove myself from this USA rat race, and find out first hand how other people live around the world. I have this idea that once I find a place/people/geography that inspires me, the work will flourish.
Just listening to you talk I feel a shift in my mentality already. It's inspiring to resonate with others in the idea that USA is not a good fit for everyone.
@Erik Thomas I don't have a yoga biz., it's a lifestyle ;) learn your people before you try and sell a 10 year financial plan xoxo
Yeah my house cleaning lady is cash only and drives a nice new SUV. Legal wage slaves in the US are losers.......
Thank you Andrew
Since the downtime during Covid I had to reinvent myself and take a closer look into my Own psychology on how I look at life and how to understand that the 4 walls and a roof cannot stop progress. I have my own business and slowly growing my freedom from the shackles of self doubt.I’ve been learning from the information that you provide and I greatly appreciate it. Many blessings to you and yours.
Some people don't get this, when you're trying to reach a goal you will have to sacrifice the things others will easily be distracted by, tend to, etc. My determination and focus lead me to my career, now I can and have positioned myself to be a nomad. Now its just hard work with processes and systems in place that I planned out years ago when I was broke.
Loving the longer format videos. I usually download as a podcast while driving so it makes it easier to focus. Keep up the good work and thanks!
One of your questions at the end has been on my mind for a while. "Why do you want to grow wealth?" I really don't know. I sold a company in 1995, so don't need more money and don't need to work. Yet, I keep investing in new businesses, stocks, and real estate. I have kids and I do want to leave them something, but how many millions do "kids" actually need? People ask what I do for a living, and I say I'm retired. My wife tells them "no he's not". I started two new companies this year (in Mexico), but I don't actively participate in the day to day operation. So am I retired or not? Depends on what definition you're using, I guess. One thing I know: I like investing and staring companies. I like the challenge of finding ways to get a better ROI.
I had a client once that told me he has more money than he could possibly spend in his lifetime. I wasn't there yet, at the time, but I am now. It's kind of a strange feeling to think back to when he said that and I was thinking "that would be nice". I can go wherever I want. I can do whatever I want. I choose to keep busy doing what I like.
@Benjamin Feldman Medical research is my charity of choice. Yes, I agree.
Don’t be cheap really resonated with me. It’s interesting how that mindset plays out.
Your inspiration is not your advise but your mindset. Thank you
Great program Andrew. Here are my own rules:
1. Live on half my income
2. Diversify investments across at least real estate and securities, with no more than 60% of net worth in a single strategy
3. Don't carry personal debt (still paying off my primary residence, but that will be the last recurring debt obligation to go
That's so true , I've been feeling that this week and its my top priority!
I want to build wealth so that I can directly and independently save lives of 100 children from poverty and despair. That is my goal in life and that is why I want to be wealthy. Once that is accomplished I can leave this world with an smile.
Awesome Andrew! Since I found you online and now reading your book, can’t stop thinking about returning to Europe or some Asian places. We wish to retire early snd can’t afford the Vancouver Canada cost of living in retirement. It may be a possibility to become free earlier than initially thought. Thanks A LOT for educating people. You are a great inspiration to us all.
That's very kind of you, Enid; thank you.
Best advice. Pay off all your debts. I was debt free 3 years ago and then I lost it all and had to take on loans. So painful ... so painful to be stuck with loans now again I'm on the way to getting rid of my debt. Great video
I know what you outlined is basic information, but it's good to be reminded of the basics every now and then. Loving your videos. Well Done
I want to grow wealth to change as many people's lives as possible and let them achieve a lifestyle that achieves growth in their lives and greater personal satisfaction by exploring different cultures.
Nomad Capitalist is correct at the end of the video - own your place outright and have no outstanding debt and you create an economic floor which allows u to mitigate risk
Thank you Andrew. I discovered your content about a month ago. I’ve read your book and you have certainly opened my eyes to a lot of things. You have been an answer to prayers. Thank you, thank you
I was surprised when I told a coworker that I had an opportunity to go overseas this summer and possibly stay after that... Her reaction was a hard-set example of the poor or middle class mindset: "why would you want to leave?"
Very common.
Self reliant, diversification, take more calculated risks, health and wealth top priority!
Time to get to it!!
Thanks for sharing
Good points😎
@@nomadcapitalist Thanks. Would love for some mentorship...
This is just a guy sitting in a chair talking, but I was so attentive and engaged the whole time!
@Stee again look at it, it's not sponsored
It's the mesmeric hand movements
Thank you for this video! The entire subject of ultra wealthy and how you scripted the video for the subject was great and easy to follow along and imagine for myself.
Very much appreciated!
EXCELLENT insights Andrew. The most impactful one for me is the tip on active income. I’ve been relying more on passive income streams and building those (which are substantially lower than active income which I could command based on skills). This was exactly the direction I require to go back to active income streams which are much higher. Thanks much!
Glad it was helpful.
This was invaluable.
Thank you Andrew!
@NomadCapitalist - Andrew, this was the best and most informative video you have done yet. Well done!
I'm enjoying the Teatime, thank you. For me, when it comes to active income, it has to have the criteria of duplicating my time and money with no ceiling. So, in theory, at least, the upside is infinite.
35% of the people in the US are in my way. Really loving this channel lately
My favorite tip is the fact of work, intentional and setting time set goals. Like most people, I'm not always super motivated. When I design and build a house or building, I work real hard to finish it as fast as possible. I love building at costs so low that regular builders can't even imagine how I do it, plus my roofs can last 45 years. I am a master at low cost design and construction
Like the idea of take risks. Thinking of removing myself from debt and moving overseas to run something online in a place I can own outright!
Another great video
Choosing to not have debt even though the interest is ridiculously low is something I resonate with. I bought a nice car and could get a loan for basically no interest and I couldn't resist taking it even though I didn't need to. But it's sitting there nagging at my mind. I really should pay it off and be done with it, as well as that little bit of student debt I have left.
Oh wow me too I write everything down in colour- I also believe there’s something going on between the neurology of mind fingers and the paper- I feel wealthy always with pen 🖊 & paper 💯
"I'm old school. I like to write down things in a notebook"
*Nods head knowingly while writing down notes for this video in a notebook*
Great advice. I was crazy busy working during the surge of the pandemic. I work in health care. Took a semester to learn Mandarin Chinese. You might think it’s a waste of time but I also speak Spanish, French, learned Catalan and German and some Japanese which will serve me well anywhere I go in this world. I’m currently working on getting a 2nd passport and want to own properties globally. I love to travel and explore but my current job, kids, grandkids and an 97 year old father are holding me back from moving out of the country. Good thing is retirement is 2 years away which means I’ll have the time to reinvent myself, dedicate time to a business and live life intentionally on my terms. Malaysia has been on my radar, México and perhaps somewhere in Europe as well. In the meantime I’m working toward that goal. Never too late. Never too old. Great content Andrew. You’ve inspired me.
I’m an an optimistic person. I believe in rolling with the punches . To not be focused on any particular thing or plan of action is the ultimate stance in being aware of unforeseen opportunities.
"Your income is your greatest wealth-building tool"- Dave Ramsey. I agree with all that you have said. Having no loan payments is a great blessing. Living less than what you make and diversify. I need to work more on the last part(diversify).
Setting goals and having an active income stuck with me, great video man
Intelligent and proactive...The best mix...Thank you Andrew from Italy
I like the idea of moving where you are treated best. I have a business that picks up garbage and recyclables on military bases and we also do small construction. I have to be on site many times at this stage of company growth. I like the idea of building active wealth more and more. Sure I wish I could have all passive income and live overseas in some of the very low tax places you mentioned. I think I need to watch my burn rate and invest more to be able to move.
I'm going from hard worker & receiving govt checks to full time mom & nomad capitalist.
Cross my fingers 🤞
I am very happy I came upon your videos. I am starting over for the fourth time in my life and was seeking a mentor who has a nomadic spirit. You have brought inspiration back to my energy field by providing direction on “how and where to.” Thank you, NJ
Glad to be of help, Natalie.
Thanks - I appreciate the substance and concrete ideas here. Very helpful and productive - this was worth the time.
#9. Constantly learn and focus on learning while growing. (I believe that focusing on the aspect of learning will make the pursuit of achieving your goals more satisfying.)
The mindset piece is the biggest part for me that’s the part that I realize over the years that’s killing many people and I really solidified that Todd by listening to Tony Robinson over the years don’t know if I really want to be super rich but I realize that it’s really possible based on reading and studying daily and having a bit of success
I have lots of self doubt. But I’m still trying and learning as a young man I’m glad I’ve stumbled across your intelligent conversation.
Good knowledge Andrew. I made a mistake (take that with a pinch of sat) when I was 26. I set myself the goal to earn $1,000,000 in 5 years. I achieved that goal (a few days shy of my 32nd birthday)...and then instantly realised I set the bar too low, and I was capable of more.
@11:17 Too true! I keep running into people that think avoiding leverage is risk free. They will typically work for those 40 years hoping for a good traditional retirement. Its quite obvious today this is less and less true for many people. By definition, this IS risky. The better strategy is not to avoid risk, as defined by the general person, but to mitigate and manage risk. Harness the power of fire; don't avoid it.
Really liked the ideas put forward here. "Develop a High Value Skill" was my favorite on the list.
Very informative, really feels like a conversation. Thank you so much.
My key take away is this whole video.
I can’t really pin point what resonates most but the value is just incredible. I feel like I am on the right track with majority of the things you’ve shared.
I agree that attitude is the most important in any endeavor as well as priorities. Putting making money first in ones life has a cost. Are you willing to give up family life, possibly ending in divorce, maybe having alienated your children? Some will say you can have it all. Is that really true? What does it take to make you happy?
I am a late starter, so there were a number of things you talked about hit home for me. So, I'll be listening to this many times over. As Robert K. would say listen to the podcast over and over again, and you'll pickup more information.
I could live off of $30K and be perfectly happy.
You're a better man than me.
Depends where, in an expensive place like Manhattan, London, Paris, Stockholm etc. it might be a struggle. However, if you based yourself in Eastern Europe, South East Asia or somewhere in South America it could be possible to live well with that amount particularly if you don’t have any dependents.
Once I thought I would never need to be very wealthy to be happy. But “happy” took a lot of things for granted, like a community in which I was welcome, one in which my modest prosperity did not evoke potentially violent resentment, and one in which my enterprises were safe from government or social predation. Today, I realize the minimal lifestyle I once had will cost a great deal more and it’s late in life to plan for its increased price.
So it’s fine to have non-materialistic goals and desires. But be warned that beneath them lie assumptions you may need a lot of money for one day.
i spend around 300$ a year
I need the regular income. I depend/rely on my own since 2016, but definitely is time to a regular income, diversify.
Nice tips.
Cheers
I was like "yeah, I'm killing it".
The guy: you're making half a million over year, that's nothing😂
This is the only video in the internet that explained how my mind works thank you for this video!
Wow, usefull great video. Very well presented truthfull advice. I am now 72 and retired. In the early days of being a capitalist 😃, I learned many of these same concepts by experience and trial and error. I knew that I had to achieve abroad, rather than home and did well in Taiwan, Philippines, Thailand, India, Indonesia and China. I still maintain the trusted bonds with so many fine people. They are all like an extended family. Thank you for sharing our mutual experiences. With regards, David C.
Well, you have made a quite a journey Andrew. It is really wise talk!
I bought property in Argentina. I’m working on building my business and getting it at international status. Many points resonated with me!
thank you so much Andrew, this video helped me a lot! For me, point 4 is very important!
Glad it was helpful!
Just stumbled across your video and let it play in the background while I finished my roofing estimates. While crunching numbers and subliminally listening to your speech, I found myself branching off in thought. Guess what I was thinking!
Expat since 1991. Married Scottish lass( good move). Raised our 4 kids through college no debt . Property in Cyprus (2097 top.. ouch) Scotland and Florida. Now close to retirement don’t think my number was right. These tips helped and cv19 has given fine to manage what savings I have. So many opportunities missed but learning now. Thanks for great content! Active income tip resonated with me.
Thank you for another good list of priorities. I would just suggest that, in the future, when you reference good resources, if you could please include them in the description box. The “Early to Rise” website, for example. And I think there was also a book that I’m backtracking now to hear again and jot down. (They’re equally important as the tea:) .) Thanks again.
Wealth is what you can do with your money. It is actually selfish to shut down. What you can do for your inner family, What you can do for your external family. How wealthy you can make your employees. Then what legacy you can build. Then what charitable efforts you can make.
Love your UA-cam name!
All the tips were interesting. Taken separately, they are all useful from a practical point of view. Together, they help to create the correct contextualizing mindset. Thanks.
Excellent video. Thanks for this valuable presentation, highly appreciate it!
You have a very interesting and informative UA-cam channel man, keep up the good work!
advice gems to be considered for stepping up to the next level.
One of your best videos on wealth building. If people listen to your video, they could become billionaires by actually doing what you say. My kudos to you.
Thank you Tom for your kind words I really appreciate it😍
This is my favorite video from you, Andrew. Thanks.
What resonated the most was when you mentioned getting several % interest in overseas banks.....I will be looking into that. I also like that you mentioned the tea. Very classy tea and cup. I like your old-school ways. Lots of good points overall. Diversification is important. I also am trying to simplify my life so I don't think having multiple rental properties is it for me. Perhaps a topic for the future would be "How to be wealthy and live simply".
Buy brand new realestate, appliances included. Buy in nice areas. Get solid tenants. High income high credit score. I get automatic e transfers into my account monthly. 5 years hardly any contact with tenants.
Thanks. I liked the idea of prioritizing what your goal is. If you want to be wealthy, you truly have to prioritize it. I always think it’s funny how people think chasing your passion will some how indirectly lead you to wealth. Then they wonder why they can’t pay off their student loans.
Thanks for this very inspiring video!
My two main ultimate goals are flexibility (time & location) and autonomy.
Thanks Andrew. CFD day trader learning and practicing. (My plan to develop cash flow over a period time - Step 1) Thereafter, to invest a percentage of that into Stocks (Mark Moss is on my radar in that regard) and a percentage into Property (You are now on my radar along with Rich Dad). Thereafter, smaller percentages into currency, crypto, gold & silver. Regards. Ryan
love this. mindset is HUGE
Great info. It is finding the good idea that will kickstart the journey... have tried a few and failed but learnt what doesn't work just need to find the one that does when am not a natural when it comes to sales...
Concur with all the tips. What struck a chord with me was owning the real estate where you actually live, ie, no rental payments nor mortgage payments.
Tetsuyama511 How is that possible ? Government / Local Governance / State owns the land by milking property tax from landowners.
@@kartikkay4729 - Paying in cash and having all the ownership documentation in your corporate name, ie my Thai wife would be 51% majority shareholder and I would be the minority at 49% in the most simplest terms possible. There's more to it - tax and licensing fee payments, etc but you get the picture.
Great info and insight. Here in US, if are paying an Mortage, we tend to rationalize, that the Mortage Pmt
interest that we pay is not a bad thing because it offsets our Retirement income that we take out, dollar for dollar. But
it never occurs to us that this structure probably does not exist in other countries ,at least many of them. Therefore makes a lot more sense to buy a home overseas outright if not a US citizen in those countries.
Fan-flipping-tastic!! I love when your mindset gets spanked a little...like wow that is possible then your head explodes! Love your channel getting your book...going to reachout to your team operating a small home inspection business just hitting 7figures and looking at a 3yr exit from USA! Thank you for your excellent tips and calm yet captivating demeanor 👊🏼👊🏼 #AlwaysDreaming
Thank you, Farren.