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Nomad Capitalist Live

Welcome. I’m Andrew Henderson – perpetual traveler, international entrepreneur, and citizen of the world. Each week, I share tips and insights gleaned from my world travels on how you can find more freedom, grow and protect your assets, and live a radical life on your own terms. I help you achieve your own freedom with my daily field reports, weekly syndicated radio shows, helpful products, and live events. Every year, I travel to about one dozen new countries (sometimes many more) in search of personal and economic freedom. My mission is simple: find the best places to live, start a business, and invest. I’m always on the go and exploring new places. No one place has a monopoly on freedom, opportunity, or happiness, and I make the world my oyster in search of the perfect balance. While on the go, I take the time to really understand what’s going on on the ground in each country in order to find the best places in the world to live, work, bank, invest, start a business, date, raise a family, and enjoy life. I value personal freedom above all else in life. Freedom to live how I want, free from bosses and their 9-to-5 work days and from greedy politicians that want to control me and steal my money.
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Now displaying: July, 2016
Jul 28, 2016

In this introduction, Andrew dives deep into the trouble with banking in the world today. Things are becoming harder. Much, much harder. You need to be prepared to get asked questions for doing trivial things. You need to be prepared that your bank will contact you and you need to be prepared to have the right documents proving your funds. Andrew focuses on the huge issues his clients are facing with Hong Kong banks, more specifically HSBC, but banking is going to become more difficult all over the world; not just in specific parts of Asia. Andrew emphasizes the importance of choosing your banks wisely, as it can really bite you in the future if you go for a bank in a questionable jurisdiction.

 

Key Takeaways:

Andrew's Editorial:

[1:00] Banks! It's getting so much harder to bank.

[2:05] Before there was FACTA, now there's global information sharing on its way.

[3:00] People who live in Hong Kong can't get bank accounts, even if they know the Vice President of the bank branch!

[3:40] Andrew was waiting at an HSBC bank on a Wednesday, for six hour, in Hong Kong.

[4:45] Nobody knows why their accounts are being blocked or rejected.

[6:00] Keep your profits in the company, reinvest it in the company, and buy assets through the company.

[8:35] You're not a big fish. Unless you're running a business that's turning over $3-5 million dollars or more, banks don't want to deal with you.

[10:25] If you're small, you're going to need more help.

[13:00] The customers are no longer the prize, the bank is the prize. You're lucky to get a bank account with them.

[15:35] Don't hide your money. Follow the law and do the right thing.

[19:55] Andrew tried to open a U.S. account and it was tough.

[24:00] Are you banking at HSBC? Stop what you're doing. Just stop.

[24:05] Are you banking in questionable jurisdictions? Stop.

[24:10] Are you banking in a tiny Caribbean country? Stop.

[24:15] Are you banking in a country with a bad reputation? Stop.

[24:35] Be prepared to get an email or a phone call from your bank.

 

Interview:

[26:55] Why did Kay become an entrepreneur?

[27:40] Kay is passionate about cave diving and wanted to explore.

[29:35] Kay loves to discover. She is curious, so transitioning from a 'real job' to entrepreneurship wasn't a problem for her.

[31:35] Kay's first job in Mexico paid $400 a month.

[32:00] What made Kay stay in Mexico?

[35:40] Key recommends living in Mexico for a year and see if the lifestyle is right for you.

[36:35] Is it too late to live in the Riviera Maya?

[39:30] Kay first went to Mexico thinking she'd stay for only 6 months. It's been 20 years now.

[41:00] Why did Kay choose Mexico?

[46:55] Getting office space in Mexico is not cheap.

[47:50] You can't assume that you'll always have electricity or water.

[48:10] Kay talks about her family.

[49:30] Despite loving Mexico, Kay does not want to be a Mexican citizen.

 

The Lightning Round:

[50:25] One business - A website, listing local services.

[51:05] One country - Panama.

[51:25] One book - Simple Numbers, Straight Talk, Big Profits by Gregory Crabtree

[52:10] One tool - Canva.

 

Listener Question:

[55:25] How easy is it to get Paraguay citizenship?

[1:00:15] Stop focusing on what's so easy and what's so cheap.

[1:01:25] Bureaucrats are afraid of letting people from anything other than western countries into their country.

[1:07:55] If your offshore strategy isn't perfected, then don't do things that can hurt your asset protection strategy. Do what needs to be done to protect yourself first.

[1:09:25] Nothing is a guarantee.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.locogringo.com/

by Gregory Burges Crabtree

www.canva.com

Jul 21, 2016

Andrew discusses the risks and various factors you need to take into consideration when it comes to investing in unstable markets. There is nothing wrong with making a crisis investment as it can lead to huge gains. With that being side, you want to know the market, the environment, economy, and culture inside and out before you do. As Andrew's father often told him, “Be aware of falling knives.”

 

Key Takeaways:

Andrew's Editorial:

[2:10] How do you find your safe havens?

[2:40] We'll be covering how you know you're getting into a good market vs. what to steer clear of.

[3:10] Andrew's father is the most honest guy he knows. Andrew shares some advice his father once gave him.

[4:55] What is Turkey's environment like? Is it a good place to live/invest despite the attempted coup?

[5:45] Property in Istanbul has been on the rise for the last two decades, but will it soon come to an end?

[6:10] Whether a place is safe or not, it all comes down to fundamentals. Andrew explains further.

[10:40] When is the time to go in and buy?

[13:10] Find a region you like and focus on what's going on there.

[16:10] You need to understand all the factors at play before you make a crisis investment.

 

Interview:

[20:55] How did Grant get started?

[23:15] Grant wanted to give people access to extremely smart people all around the world.

[26:35] Banking tends to be the biggest problem when living in different countries.

[28:15] Why did Grant choose Singapore?

[31:45] It was easier to plant your flags in Singapore five years ago.

[32:55] Wherever you are in the world, you can be home in 24 hours if you don't like where you currently are.

[33:50] FATCA has changed the entire world.

[34:40] You should have bank accounts all over the world, but governments find this behavior extremely suspicious.

[37:25] What does Grant think about Ireland's economy?

[38:05] Would Grant like to go back to the UK?

[40:25] Grant believes if he hadn't traveled, he wouldn't have started either of his businesses today.

 

The Lightning Round:

[41:50] One business - Concierge service.

[42:05] One country - U.S.

[42:35] One book - The Checklist Manifesto and Blink.

[42:55] One tool - Trello, Slack, TripIt.

 

Listener Question:

[45:00] What are Andrew's favorite cities for Airbnb rentals?

[47:15] Andrew knows one guy who was able to get his Airbnb rentals yield up to 31%.

[47:25] However that is extremely rare.

[51:15] Andrew recommends looking into markets where there isn't enough '5 star quality stuff'.

[51:25] You'd be able to get in at a lower entry point.

[52:25] Andrew lists some countries he's familiar with and would be good for Airbnb rentals.

[58:30] Airbnb can become your business if you know what you're doing.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.realvisiontv.com/

The Checklist Manifesto by Atul Gawande

Blink by Malcolm Gladwell

www.trello.com/

www.slack.com/

www.tripit.com/

www.airbnb.com/

Jul 14, 2016

Andrew talks about the interesting times we live in right now. Attacks are happening all over the world, which is deeply unfortunate. Andrew believes we're living in an age of extremes, governments are running out of money and people are both angry and frustrated about the changing times. The real point people have to see is that one person or particular government isn't the problem, Trump is not the real underlying problem because if it isn't him, it'll be someone else. In order to navigate safely through these uncertain times, you have to diversify your assets and plant flags all around the world.

 

Key Takeaways:

Andrew's Editorial:

[1:30] We're really living in interesting times right now.

[2:25] Attacks are happening all over the world.

[3:50] Nobody knew Brexit would actually happen, but you should still know that diversifying is always a smart move.

[5:00] Trump is not the issue.

[6:45] We're living in an age of extremes. Governments are broke more than ever.

[7:15] People are angry and frustrated. They don't want to accept change.

[8:00] Sure, Andrew was caught off guard by the Brexit decision, but he was already prepared beforehand.

[8:15] How do you deal with all of this madness?

[9:25] Andrew likes Malta because no one really understands what's going on there.

[10:15] How many violent attacks happen in Georgia?

[12:55] Whatever you're hearing from the media, from your block, is probably 180 degrees from the reality.

[13:05] The United States is an extremely corrupt country.

[15:15] Diversify your portfolio.

[18:55] Andrew wishes we didn't live in such a violent world.

 

Interview:

[22:20] Andrew welcomes Dietrich.

[22:45] Why did Dietrich become an entrepreneur?

[26:05] What was Dietrich's big aha moment?

[30:15] You don't have to go to a big city in a foreign country to run your business. You can live in a rural town and manage a virtual team.

[34:15] There's about 90 million people in Vietnam.

[39:25] Why does Dietrich love Vietnam?

[42:25] You do need a certain amount of backup money for Vietnam. Plan for three years’ worth of income.

[45:45] Use your common sense when in Vietnam. If something looks too good to be true, stay away from it.

 

The Lighting Round:

[46:35] One business - Food exports.

[47:05] One country - NA.

[47:35] One book - German motivational book.

[48:10] One tool - Fiverr.

 

Listener Question:

[50:15] What are Andrew's thoughts on Cyprus?

[54:00] Why do you want an offshore company?

[55:15] Cyprus banks will be skeptical of your business.

[55:30] Hong Kong is even kicking people out.

[58:15] Andrew does not recommend Cyprus.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.farmers-coffee.com/

www.fiverr.com/

Jul 7, 2016

For Andrew's intro, he discusses the path less traveled and developing strong bases throughout the world, which Nomads can always come to. He dislikes Spain because there's nothing that really keeps people from staying there. It's a cheap thrill that quickly loses its allure because the vast majority of things do not work correctly over there. He firmly believes that the path less traveled is often the best way to go for planting your flags as your money is able to go further with you.

 

Key Takeaways:

Andrew's Editorial:

[2:40] Andrew sees a lot of followers in this digital nomad movement.

[5:45] Barcelona gets old pretty quickly. People come and go, no one really stays there for an extended period of time.

[9:35] Andrew loves Serbia because things work!

[11:40] The moral of the story here is that the path less traveled is often the best one.

[12:00] The path less traveled is the key to planting your flags. You get more bang for your bucks.

[12:15] Andrew personally can't see himself living in Spain.

[15:25] What cities should you look for as a base? Andrew explains further.

 

Interview:

[18:55] Why did Tamara become an entrepreneur?

[22:30] Tamara teaches classes in entrepreneurship.

[25:25] Tamara is a real hustler! She's all in.

[27:15] People think you're crazy for leaving the country. You need like-minded people in your network.

[31:00] When Tamara was starting her sweater business, a lot of her workers were illiterate.

[31:15] Challenges become opportunities.

[31:40] Bolivia has never really had a pro-business mentality or reputation.

[35:05] Tamara talks about some of the challenges she has faced in Bolivia.

[37:45] What should people know about Bolivia?

[40:20] What are some of the key cultural differences between Bolivia and the U.S.?

[41:35] Tamara talks about expanding her business outside of Bolivia.

 

The Lighting Round:

[42:30] One business – Electronics.

[43:15] One country – Bolivia.

[44:00] One book – Blue Ocean Strategy.

[44:35] One tool – Microsoft Office and the Cloud.

 

Listener Question:

[46:45] Andrew! Are you hiring?

[47:15] If you're trying to figure out things in life, 19 is a great age to do it.

[48:25] What's Andrew's personal avatar for hiring?

[50:35] Having an employee avatar is just as important as having a customer avatar.

 

Mentioned in This Episode:

www.nomadcapitalist.com/

Andrew@NomadCapitalist.com

www.tamarastenn.com/

Web site:  http://www.kusikuy.com/

Kickstarter campaign

Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne

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