Be very wary of the word 'free'. Free often means it lacks value and gives you a bad opinion over things with value that are worth the high-price tag. Andrew talks about how the island of Pitcairn is offering free land to those who want it, as long as they're willing to live there. Today's guest is Jiah Kim, an entrepreneur who went back to school to become a lawyer. She now uses her expertise to help serve others on an international basis. Listen in to find out more about her story.
Key Takeaways:
Andrew's Editorial:
[2:00] How is the world changing and how will you keep up with it?
[2:45] Why does nobody want 'free' land?
[7:50] If you want to move to Pitcairn, they've got some free land for you.
[11:40] Get away from 'free' things!
[12:40] Someone invited Andrew to an event and he explains why he didn't go.
[15:45] Free things reduce the true value of real, quality things.
[21:40] What's a really good investment worth? Well, it isn't free.
Interview:
[24:00] Why did Jiah decide to become an entrepreneur?
[25:55] Why did Jiah leave her entrepreneurship career to become a lawyer?
[28:10] Most people become a lawyer and then throw it away, but it seems Jiah did it differently. She adapted her skill sets to entrepreneurship.
[29:15] How does Jiah manage being a lawyer/entrepreneur at the same time?
[31:50] What was Jiah's 'ah-ha' moment to having an international business?
[35:45] What are Jiah's thoughts on Southeast Asia?
[38:20] In what ways has Jiah been diversifying herself?
[42:30] At what point is it considered that you've 'lived' in a country? Apartment in your name? A certain amount of friends?
[44:20] Jiah feels that when she travels often, she loses productivity.
[46:40] Jiah's biggest challenge to being a nomad is the lack of family support.
The Lighting Round:
[48:30] One business – Restaurant or water filters.
[49:45] One country – China or US.
[50:20] One book – Gone with the Wind by Margaret Mitchell.
[51:10] One tool – AreoPress.
Listener Question:
[55:10] How do you know when you need an asset protection trust?
[56:25] $500,000 is when you have to start thinking about it.
[56:30] But the real question is, why do you need a trust in the first place?
[57:10] By having a trust, what are you trying to accomplish?
[59:45] The better question to ask is, 'what are my threats'? And then solve those problems instead.
Mentioned in This Episode:
Gone with the Wind by Margaret Mitchell
Anything You Want by Derek Sivers