Andrew Henderson talks on whether or not you should invest in the Iraqi Dinar and how you can diversify your US dollars. Andrew believes that if something appears too good to be true, then it probably is. He emphasizes the importance of doing your homework and to invest in what you have a good understanding of. Do not fall for get-rich-quick schemes, because those rarely come true. Today's guest is Nadine Hays Pisani. Nadine runs a bed and breakfast in Costa Rica and is the author of Happier Than A Billionaire. She talks on why she left her it all and moved to Costa Rica.
Key Takeaways:
Andrew's Editorial:
[1:30] Look out for the Passport to Freedom 2016 details in the newsletter.
[3:20] How can you diversify your US dollars?
[4:50] Should you buy Iraqi Dinar and Vietnamese Dong?
[10:40] Invest in what you know.
[13:45] Always do your homework.
[17:30] Easy schemes are what you have to be careful of.
[19:45] Take the emotion out of it and make a calculated decision on investment deals.
Interview:
[23:00] Why did Nadine become an entrepreneur?
[24:15] What was Nadine's ah-ha moment?
[26:55] The more you know, the more scared it can make you.
[30:20] Why Costa Rica?
[32:40] You can rent a house in Costa Rica for as low as $400.
[36:05] What other flags has Nadine planted around the world?
[39:45] You don't have to give up your US bank accounts and retirement funds to move aboard.
[44:00] Costa Ricans value their time.
The Lighting Round:
[46:05] One business – Reality show.
[46:40] One country – Italy.
[47:05] One book – No books.
[48:25] One tool – Skype
Listener Question:
[51:25] Can you open a Swiss bank account without a personal visit there?
[52:50] Most banks require you to be physically present.
[54:00] The door for Switzerland is closed unless you're rich.
[56:30] It is possible to open a bank without physically being there.
[57:10] Fast, easy, and cheap. Pick two out of the three.
[59:40] Check out the Nomad Capitalist book, The Best Offshore Banks.
Mentioned In This Episode:
http://www.happierthanabillionaire.com/
What does it mean to live in a low-cost country? Andrew cautions that low-cost economies do not necessarily mean it is your best option. Sometimes, you're better off by going where you can make the most money; where there's more opportunity. Traveling to a low-cost country also may not solve your core money problems. Andrew believes if you focus on the opportunities in a more expensive country and not the problems, you may be better off.
Ana Gusso is today's guest. Ana facilitates tours for Brazilians looking to travel to Australia and the Himalayan region. She talks on her experiences creating a business overseas and more.
Key Takeaways:
Andrew's Editorial:
[1:40] Andrew talks about the cost of living around the world.
[3:55] Why should listeners be careful of the 'low' cost of living?
[6:00] Andrew talks about the decline of the American standard of living.
[9:20] Moving overseas may not solve your underlining problems with money.
[13:25] Where can you make the most money?
[15:50] Consider spending a little bit more money to go off the beaten expat road.
[17:10] Focus on the opportunities.
Interview:
[19:55] Why did Ana start her business?
[24:55] What other locations did Ana look at before starting her business in Australia?
[27:25] What are the differences between selling to a development market versus selling to a tourist/poorer market?
[29:00] Differences in between Brazil tourists vs Australian tourists?
[32:45] Banking in Brazil was difficult compared to Australia.
[36:15] Ana talks about her dual-citizenship status.
[37:20] It's hard to become a Brazilian citizen.
[39:00] Ana talks about her travel experiences.
The Lighting Round:
[42:00] One business – A travel fair.
[42:35] One country – Not sure.
[43:00] One book – Rich dad, poor dad by Robert Kiyosaki
[43:50] One tool – Audible.
Listener Question:
[46:25] Does Andrew recommend banking in Panama?
[49:00] Panama banks are tied to FACTA.
[49:15] Andrew believes there are better banking options.
[50:40] Panama banks are a lot of hassle and they make things difficult.
Mentioned In This Episode:
http://nomadcapitalist.com/2015/10/05/the-decline-of-the-american-standard-of-living/
http://www.toptripviagens.com/
Rich dad, poor dad by Robert Kiyosaki
Should you move to Georgia and setup a business there? Andrew talks on his last trip to Georgia and how much he loves the government's efficiency in getting everything you need setup in one building. Andrew makes a valid point that entrepreneurs need to know what their time is worth. Is your time worth standing in lines and running around the country to get the needed paperwork or could you use that time to be making deals and making money? Georgia may be the place for entrepreneurs looking for a new start.
Key Takeaways:
Andrew's Editorial:
[2:35] Should you move to Georgia?
[5:20] Georgia's government is incredibly efficient.
[11:00] Georgia isn't no tax, but it certainty is low tax.
[14:00] Your time is valuable, which is why you should go where you're treated best.
[16:20] Entrepreneurs love banking in Georgia.
Interview:
[18:35] Andrew introduces Matt Newton.
[18:55] What does Matt think about Chile?
[21:00] Why did Matt become entrepreneur?
[24:10] Where has Matt traveled to?
[25:10] Is Chile pro-business?
[28:50] Will Matt be staying in Chile or become a perpetual traveler?
[30:30] What kind of flags has Matt planted?
[33:50] What kind of opportunities did Matt get in Chile that he couldn't get in Australia?
[35:15] Banking in the US was the hardest.
[37:10] Matt talks about the romantic side of things of being a perpetual traveler.
The Lighting Round:
[39:20] One business – Latin job boards.
[40:40] One country – Spain
[41:50] One book – The 7 Day Startup by Dan Norris.
[43:10] One tool – Minaal backpack.
Listener Question:
[45:35] What are the best citizenship by investment programs out there?
[49:45] You don't necessarily have to spend more money to get the best service.
[52:20] Visa free access to Europe may be a good option for you.
[52:55] Caribbean options can open you up to more borders without a visa.
[54:40] Nomad Capitalist can help you with this process.
Mentioned In This Episode:
The 7 Day Startup by Dan Norris