I used to think I wanted the cars and expensive clothing brands. Now that I’m 40+ my values changed to enjoying other stuff. It’s food and traveling for me. I do value safety though.
If you have to worry about the consequences of showing your wealth to the public, then what's the point? That's not to say you shouldn't be careful, but things like driving nice cars or dressing up may be risky.
Depends where you go, but this is often very true. Think Miami, Manhattan, LA, Aspen, Nashville, Denver, etc. And almost every state has several enclaves of luxury and posh living.
@@RyolithRandil move to Parhump, or Mound House in Nevada & it is not a problem. Or set up an adult film production company & New Hampshire & California have case law that make it no issue. There is no case law in regards to an adult film production company in either Florida or Nevada, but they both have large production sectors, so... Also that complicated tax code allows many people in the three comma club to pay a single digit percentage of their income in taxes or LESS ie zero, and with proper planning and structuring basically avoid the estate tax or generation skipping tax entirely. Where else can you buy a private jet and write it off your tax bill?
I'm not into Porsches or Lamborghinis, I'm into 4x4 off-road SUVs, so roads are almost a detail for me. The problem of showing off with too much wealth - especially in a poor country - is that it sparks greed in bad people around oneself and relatives, as far as robbery and kidnapping are concerned, especially where the local judicial systems are contaminated by marxistoid-criminal-lover-freaks. So seems to me the main problem is the culture of impunity rather than poverty. Bad guys are emboldened by it and it is pointless to list on which countries this is happening more and more. I lived in places such as Oman and never felt safer. Why would that be? 🤔
Exactly. Someone who knows they aren't going to get punished for killing someone is just more likely to pull the trigger than someone who fears the justice system. Police aren't incentivized adequately in many emerging countries. Few risk their lives for a few hundred bucks a month.
@@NomadElite I agree 💯% . That's why I prefer breeding my own K9 bodyguards (they don't hesitate putting their lives in risk, their friendship and loyalty are absolute) and having my own "peacemaking toys"...so to speak. 😎🧉
Why you didn't quantify in numbers what do you mean by "rich"? In India getting 1000 euros a month is considered upper middle class rich would be 2000euro a month, can you please mention what monthly income and saving in assets would you consider entry level rich or upper middle class according to you
Well... driving a Porsche in any other country but Germany on public roads/highways is fairly pointless. Having a Porsche in Singapore at least is more sensible in the sense that if you`re forced to cough up the cash for the CoE, you might as well register a Porsche for it instead of a Corolla.
@@NomadElite The Autobahn seems safer than most of the US highways. For example, the trucks/lorries have to stay in the right lane and also to get a drivers license in Germany you have to do more than just pass an easy test and they are very strict about if you get any points and taking your license away.
I used to think I wanted the cars and expensive clothing brands. Now that I’m 40+ my values changed to enjoying other stuff. It’s food and traveling for me. I do value safety though.
What's most important is that you're happy with your life choices. 🙂
Even though I'm not rich, I do agree with what you're saying. If I had that much money, I would want to be able to enjoy it and not have to hide.
If you have to worry about the consequences of showing your wealth to the public, then what's the point? That's not to say you shouldn't be careful, but things like driving nice cars or dressing up may be risky.
Most nomad gurus ignore USA, when it is still the best imo despite a few drawbacks.
Depends where you go, but this is often very true. Think Miami, Manhattan, LA, Aspen, Nashville, Denver, etc. And almost every state has several enclaves of luxury and posh living.
Exactly. There's a reason why many of our fellow UA-camrs keep bashing America; it's where the money is at.
@@RyolithRandil move to Parhump, or Mound House in Nevada & it is not a problem. Or set up an adult film production company & New Hampshire & California have case law that make it no issue. There is no case law in regards to an adult film production company in either Florida or Nevada, but they both have large production sectors, so...
Also that complicated tax code allows many people in the three comma club to pay a single digit percentage of their income in taxes or LESS ie zero, and with proper planning and structuring basically avoid the estate tax or generation skipping tax entirely. Where else can you buy a private jet and write it off your tax bill?
I'm not into Porsches or Lamborghinis, I'm into 4x4 off-road SUVs, so roads are almost a detail for me. The problem of showing off with too much wealth - especially in a poor country - is that it sparks greed in bad people around oneself and relatives, as far as robbery and kidnapping are concerned, especially where the local judicial systems are contaminated by marxistoid-criminal-lover-freaks. So seems to me the main problem is the culture of impunity rather than poverty. Bad guys are emboldened by it and it is pointless to list on which countries this is happening more and more. I lived in places such as Oman and never felt safer. Why would that be? 🤔
Exactly. Someone who knows they aren't going to get punished for killing someone is just more likely to pull the trigger than someone who fears the justice system. Police aren't incentivized adequately in many emerging countries. Few risk their lives for a few hundred bucks a month.
@@NomadElite I agree 💯% . That's why I prefer breeding my own K9 bodyguards (they don't hesitate putting their lives in risk, their friendship and loyalty are absolute) and having my own "peacemaking toys"...so to speak.
😎🧉
😂
Why you didn't quantify in numbers what do you mean by "rich"? In India getting 1000 euros a month is considered upper middle class rich would be 2000euro a month, can you please mention what monthly income and saving in assets would you consider entry level rich or upper middle class according to you
It's all relative, isn't it? I will break it down more in a future video. This video is geared towards American and Canadian expats.
Cheers from Panama.
How's life in Panama?
Well... driving a Porsche in any other country but Germany on public roads/highways is fairly pointless. Having a Porsche in Singapore at least is more sensible in the sense that if you`re forced to cough up the cash for the CoE, you might as well register a Porsche for it instead of a Corolla.
German autobahns come with no speed limits, quite crazy if you ask me 😂
@@NomadElite The Autobahn seems safer than most of the US highways. For example, the trucks/lorries have to stay in the right lane and also to get a drivers license in Germany you have to do more than just pass an easy test and they are very strict about if you get any points and taking your license away.