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How to Live the "Trifecta" Lifestyle
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- Опубліковано 31 лип 2024
- nomadcapitalist.com/
There are so many great places to live around the world that you may not want to choose just one. Enjoy European summers, hot Asian winters, or cool Latin America autumns while enjoying substantial offshore tax benefits when you practice my “Trifecta” lifestyle.
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.
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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.
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After years of being a nomad, I can attest to the fact that, eventually, you get the feeling that you want a "home base" or two or three. Thanks for continuing to show us how to push the development of the nomad lifestyle!
Glad to see you have custody of your kid(s).
How did you manage to do that under these feminist courts?
l like all the comments from all of you, me as a person who travels every day throughout the world due to my job as an airline pilot I have come to the following conclusion: Deciding what is best to rent or to buy, or having one or several places to live, it all depends on the individual, no one has the perfect or correct answer. The only true answer to all of these choices is what each individual enjoys the most and the main thing is to live your own life and not to live the life of your neighbor. The amount of money you need to live it also depends on what you want and enjoy, there are persons who enjoy driving a Ferrari or having a Mac mansion, others can have the same joy by just watching a sunset or enjoying a good and delicious food at a restaurant, so it would be wrong on my behalf telling some what is the best businesses, place or amount of money needed to live.
Could you make a video on packing? How can you bring so many shirts and suits?
Thanks for the idea, Abdi.
Since I was a teenager I dreamed of nomad life style. For the last 3 years I live in China, Portugal and Israel and travel probably 20 times a year. I usually stay in my own flats when I stay in one of those countries, but I rent out the flats when I’m leaving for longer term (over a month). Honestly it becomes tiring to travel so often, and I do want to stay at some place for 3-6 months without moving (to feel like “home”), but after 2-3 weeks I already start to feel the itch to hit the road again...
Since the '90s Japanese music
producer Tetsuya Komuro was
living in Tokyo, Malibu, and
Bali.. I think he owns six homes
but those were/are his bases
My ideal trifecta would be rural Ireland (home for now),
Somewhere like Croatia/Montenegro/Italy - the ‘sun’ home beside the sea (or Spain, Portugal, Canary Islands if a property is undervalued and is worth the investment),
And an apartment (or other) in a city like Prague/Stockholm/Vienna - a place for city breaks for my family, a place that has easy access to skiing in the winter months, a place to feel the faster pace of life instead of the rural + sun homes mentioned previously.
A very European trifecta but haven’t travelled to the likes of Asia, Australia, South+Central America yet.
Do you have a video on how the tax works on all of this + the citizenship side to it regarding how long you can stay in the country etc? Cheers
Love the idea of this trifecta! Now, to go find the best places and spaces
To answer your question at the end: I'm currently spending 3-6 months in each location as I travel and find what will work for me long term. I'm truly enjoying Medellin, but I've also found that I loved spending time in Barcelona and the islands of Thailand. I'm currently looking for a first "home base", and one of those locations might be ideal. However, I also realize that I might need a few more years of the nomadic lifestyle before I've seen everything I've wanted to see. So, I'm giving myself the time to explore while I find which first "home base" is truly right for me.
Loved it, it's something amazing for me to see a person living financial freedom lifestyle, like you. I don't know how yet but am sure that I will experience that lifestyle of financial freedom hopefully within 5 -10 years
@@user-qb2vf8je5c I'm still learning to fly after I jumped 😅 were probably closer along in our journeys than you think. Why do you have to wait 5-10 years to do the nomad lifestyle?
@@NickDemski it's a vary long shot for me man, but for the main time, am building the mindset & understanding myself which is wt I can Control. Nomad/trifecta lifestyle is the lifestyle I truly desire, but it's not attainable for me yet. Hopefully you will figure out how to fly after that jump bro 👍🏽👍🏽👊🏽
@@user-qb2vf8je5c I hear you! But thanks, I jumped a few years ago it's going pretty well 😊🙌 Not to intrude, but if it's what you want I recommend you get after it. I wasn't ready when I went for it, but it's turned out alright. 🙏 Let me know if you ever have any questions about the journey.
Tbilisi, Berlin, Saigon! 💥boom💥
I'm finding I like to be in the US spring and fall and overseas winter/summer and be where the weather is nicest and having a base or goto place is good. Right now owing or renting year round isn't in the cards so I've gotten good at moving and use self storage in US where furnished apartments are harder to come by.
Puerto Rico Main home base (for Act 20/22) for now. Maybe a Europe base and an Asia base later. Need to travel more and find what I like.
Amazing videos! I get really inspired! Never had I heard about this ide before of owing homes in different places. But this is for sure what now feels super exciting! Thank you so much for all your amazing content! Linda
Our pleasure, Linda.
I love this idea. Thanks once again.
My trifecta is Da Nang, Tbilisi, Phnom Penh. Would add KL next.
Andrew...Great channel ! Since the USA is my home country my base is West Central Florida, also I just received my residency in SW Mexico on the Pacific Ocean after living here 4 years and also spend time in Medellin, Colombia..and then I found the Nomad Capitalist videos. I am living the trifecta and did not even know it..Crazy how things happen, Thanks Andrew very much...Geoff
there for 3 -4 months. Interested to hear thoughts on this?
As a property investor I completely disagree that your property you live in is an investment. So having 3 properties scattered around the globe does not make financial investment sense. Yes as a lifestyle purchase I can see it but not as an investment. I can get much better rental yields on property purchased for the purpose of renting out and I mostly would not want to stay in these properties.
HOWEVER One thing that Andrew does and is not saying in this video is that he purchases property to obtain Residency and/ or citizenship or potential citizenships in certain countries. That makes a lot of sense to me. Obviously not all countries offer these programs so as example buying property in Mexico makes no sense from a residency/ citizenship perspective.
So to tie up the rental income property investment with a residency etc I like the idea of say buying property in Georgia, say 2 seperate rental properties to meet the $100k residency requirement and kill 2 birds with one stone. Again not to live in but as a rental investment which gives a return and a residency.
you could rent them out on airbnb when you are not in the country
We got sick of major time zone changes that needed jet lag recovery time. Now we have 6 places in Mexico and South America so travel times, jet lag, and time zone changes are minimum . I am stuck with US taxes but partner is a Mexican so she has her tax home and main residency set up in Ecuador which doesn't tax foreign sourced income. We have 3 farms and two apartments in Colombia where we spend less than 183 days per year. Beach places in Mazatlan and Manta as well as a place in Arequipa Peru. The main thing I really miss is the amazing (cheap) Thai massage you can get in places like Bangkok and Istanbul. We were doing the trifecta since 2003 but really evolved it recently by no longer changing so many time zones.
Anybody know what countries a foreigner can finance a property without too much hassle?
I've heard you mention the trifecta method in a lot of your videos, so it's good to have a deep dive on how that works for you.
I'm kicking of a "bifecta" lifestyle in... the UK! Yes, last call before Brexit! It would be crazy to do it as a 7-figure entrepreneur, but as a 6-figure the tax impact will be minimal. The family will probably have many years to enjoy it while we build more assets.
How do you think about estate planning for a trifecta lifestyle? It seems a little complex, though I suppose the complexity varies by country as well as based on individual’s specific situation as to whether or not they have natural heirs, whether they want to donate the property to charity etc. That said I suppose the last thing one would want is an intestate situation and potentially natural heirs having to sort this by country.
I prefer renting. I'm not a real estate investor, and I don't have the interest to learn the skill. Buying a property ties up a lot of capital that I would rather invest elsewhere.
It does however feel like you're throwing away money when you're renting and not living there. But I see it as just a lifestyle expense, like a nomad tax.
What do I have to consider by renting some home bases over air b&b? Is it possible to use smart home technology to rent a place without living in the country? What are your thoughts?
For beginner entrepreneurs whose business requires product manufacturing, I think they would benefit from a video that tackles how (un)important it is to have your designated "make money" country be part of your Trifecta. I'm early in my entrepreneurial journey and I'm looking to have either Taiwan or Singapore in my Trifecta due to the financial freedom, but I'm not sure how relevant the issue even is and would appreciate such a video myself.
hi andrew! do turkey and russia tax it's citizen on their worldwide income? do they they need to declare it?
Id love to move around, eventually set down roots several places I like
It's always interesting listening to your perspective on living abroad. I'm not sure I buy into the ownership aspect of your approach, but hey to each his own and that is not the trust of my comment. See the last sentence for the short version. I've lived abroad, mostly in Western Europe, since my 18th birthday by choice and by chance... As I creep toward retirement the trifecta lifestyle you describe is appealing to me in many ways. I do understand the tax implications having at times been subject to multiple tax jurisdictions simultaneously. Ouch! I know now how to avoid that pinch. What interests me more is the health insurance aspect of this life-style. Perhaps you could do a video on that topic. Cheers.
Love the idea of trifecta.
What is the ensolve the problem with the school for the kids? The can't stay 6 month in one country than move to another in the middle of the year!
Beautiful background
Istanbul, Cancun, Kuala Lumpur
Andrew you always talk about apartments when it comes to real estate investments. what do you think about investing in offices in Business plazas and renting out to companys ? thank for your answer in advance.
an interesting concept i've never heard of before this
do you like to travel google sucks?
Could not agree more with him
I just became single again and kind of lost my direction. Not seeing this as a loss anymore but as an opportunity I would like to know how to start and make the switch from a paycheck wage to this lifestyle. I really wouldn’t know where to start. Besides buying the book.
Re3iRtH unfortunately not anymore and not that much savings.
I basically have to start from scratch.
It shouldn't be too difficult for you to learn how to trade stocks. Commissions are free these days and you can do it from almost anywhere in the world.
I like the idea al lot and already having a base in Berlin and Tbilisi. What are you doing with the properties' when you are not there? Renting out?
Watch this: ua-cam.com/video/ibk0OGnSHgQ/v-deo.html
I'm building this up now, lived I France so long I have benefits here but don't like taxes and other restrictions so 3 months in 2 other places, which have cheap apartments I would hope to buy. South Morocco, Turkey ☀️☀️☀️🌊🌊🌊⛱⛱⛱
Been to 111 countries Lived out of my Country Australia for 21 years in Asia, Columbia and Mexico. Retired 11 years ago and have lived in hotels for that time. Buying has appeal but not being able to hold a title ( Thailand, Philippines etc ) is a roadblock to me. Creating a fake corporation, putting ownership in locals name is not for me. Also rent is cheap in developing countires. I understand Condos may allow 50% ownership, you do get a title, but a house in the cheaper countries can only be had by leasing the land for 50 years, no title no real ownership. I underdstand in KL you do get title but 250K could be multiple homes in less developed countries. Andrew what is you thoughts/solution to this major problem to owning multiple homes.
Thanks for the info. With such an incredible experience, have you ever find sharing real estate investment opportunities? Lets say you pay %25 of real estate price and are allowed to be in your sharing home 3 months a year? I think as nomad population is booming and staying couple of months are allowed in many countries on tourist visa, sharing economy would be an urgent need. Please, what did you find?
I like the trifecta idea. I'd like a city place, by the beach place and third which is open for suggestion.
Mountains place
So what is the strategy? There are no details in this video.
I wanna do this with Montreal, Monaco and French Polynesia
Wow, me too!
Please make a video about amount of money I need to start to live as a nomad capitalist. Thank you, I'm your big fan
@Andrea Lanzara You only need your brain (knowledge) and skills to build your seven figures enterprise to live as a nomad capitalist. Once you use both to build wealth, then you will be a nomad capitalist.
currently I already earn six fugure but working very hard and doing many night shifts, I need to stop with this rhinestone life
It's not necessarily about how much you earn, but how you earn it. If you get out of debt and have a basic income or investment that covers your expenses, you can pretty much do whatever you want. But getting that part is the trick - you need to either find a job that doesn't require you to be on-site, or start your own business.
the problem is that my job forces me to be present on the site and in particular in Italy. The only solution I have to become a nomadic capitalist will be to accumulate money until I can then fire and stop working, so I asked how much money I will need to be able to stop with work.
@@jaynomad2482developing personal skill is biggest investment
I live in Brazil and probably I will have the opportunity to experiment your concept of "trifecta" for a couple of years.... I am entering now in a new business and I am planning to be 4 months in Brazil, 4 months in Portugal and 4 months in Asia (not defined yet my Asian base)... probably this cycle will be repeated two or three times... I am not citzen of any Europe or Asian country... do you think that I can live as a tourist in each one of theses bases ? how would you manage my income taxes alongo this cycles ?
in Portugal you will have to do 3 months, wait 3 other months and come back again for another 3 months. you are allowed 90 days in any 180 day period in the Schengen area. You could wait it out in one of the eastern europe Country like Georgia/Ukraine.
In Asia, I will say check Vietnam and Malaysia. they seem to be the most livable but that is by my standards. You might want to check each one of them and decide which one works for you.
Tax is a whole story by itself not easy to answer in a comment post on UA-cam.
@@KrishnaDiamesso But constantly in-and-out from the same country(like your example Portugal) every 90 days within the Schengen area, will this trigger a red flag to the immigration? I'm pretty sure many have done that & the immigration are well aware of that.
Yes, I understand the concept of 90 days in the country and 90 days out the Schengen countries.
I am aware that we can enter the same country through different Schengen countries immigration and making the trip to the target country by land transport, this eliminate having to in-and-out from the same country's immigration
@@maverickmadison7392 well depends on the officer. they might start asking you questions by your 3rd time back there. but also do not forget the more time you spend there, you start to subject yourself to their tax system.
very few countries will allow you to abuse that free 90 days visit. Thailand has30 days and people were doing visa run and the government cracked on it. Malaysia will ask you questions for sure. even a Canadian visiting the US cannot do that in and out many times and vice versa. I although have a friend who has been living in Mexico for 5 years now and only does border run every 6 months. goes to the border, spend a couple of days or 1 week in Guatemala, and comes back. there may be another country or two that might not care as much like Mexico. but there are not many.
🙏🏽
As a non US person I am thinking how I can put a Tiny house trifecta plan together. Maybe have a luxury Tiny house and move it around. I like exploring the USA so maybe move it every year to a different USA city. Or move it to Mexico whilst I am there. Interested to hear thoughts on this?
Some people have bought a used box truck,made it liveable and travelled the world in it.. there are youtube channels showing how to do this.You want a vehicle where you can find parts worldwide-Toyota,Mitsubishi are the most common
When living for a few months at a time in a country do you still have to pay those countries taxes ?
Watch this: ua-cam.com/video/LIHJKJCjYFE/v-deo.html
Buy foreclosures!
I like watching your videos man. But I want to ask you something. What sort of business are you in, as in what is your main business activity or investments? From what I gather, is it real estate, right? It is not a rude question, I am just curious.
How is this system i like.
Antigua -home Base house, and citizenship -4 month
Dubai own apartment -4 month
Thailand -rent apartment-4 month
This is the max month i like to stay in the Countrys maybe one month less in dubai thailand and maybe 2 month in spain.
Will this triggar any taxes for me somewhere else? I will have my base in antigua and most money invested there.
Have a Great day
Best regards
Good morning Prof. Good morning Nomad Capitalist Team. Good morning Class.
tri-headache
tri-dom. or is it tri-freedom.