With recent news coming out that the EU wants to restrict visa-free travel for Americans, Andrew retouches on a topic he spoke about last week — second passports. Don’t let your ego get in the way of a second passport from a ‘lesser’ country. The reality is that those ‘first world passports’ are hard to come by and require an extensive investment on your time. However, there are plenty of fantastic T and B tier passport for a good value, if you’re willing to take ego out of it.
Key Takeaways:
Andrew's Editorial:
[1:55] It’s up to you to decide whether or not you need an additional passport.
[3:00] How likely is it to happen that Americans will lose their visa-free travel to Europe?
[5:00] Ha! Moldova citizenship. Good luck living in your mud hut (as some would say).
[6:15] Colombia ain’t a bad place to be, frankly.
[7:05] Having an EU passport is where it’s at. You can stay busy for the rest of your life in Europe.
[9:10] Georgia and Montenegro are some of the friendliest places on earth to investors.
[10:05] Want a second passport? Have an open mind. Getting a canadian passport is hard!
[10:45] Don’t let your ego get in the way of being a Dominican, for example.
Interview:
[11:55] Last time Andrew spoke to Reid, he was big on Cambodia and loves Asia. What things have changed in the last couple of years?
[12:50] Why Asia? How did Reid get started in all of this?
[15:15] How has the acting industry changed when Reid was a kid and part of the Screen Actors Guild?
[19:20] There’s not enough demand to meet up with the supply of readily-available actors.
[22:05] Reid has learned a lot of relevant life lesson from being a child actor.
[26:45] Child actors = Chick magnet ... right?
[29:25] How did Reid grow his wealth?
[34:50] Andrew believes it’s important to invest wisely. Who knows what Amazon stock will do tomorrow? Diversify your assets!
[35:25] A lot of financial institutions will acquaint risk with volatility. Risk and volatility are two very different things!
[39:25] Reid moved to Thailand at the age of 18 to attend university.
[42:35] Why is Reid in Bangkok?
[45:05] Does the average person want to live in Cambodia?
[47:45] Foreigners love Bangkok because it has become a little slice of America, so to speak.
[49:15] How possible is to become a Cambodian citizen?
[50:45] Be aware of the scam passports.
[52:30] Why is Cambodia number one for investors/foreigners?
[54:25] Cambodia doesn’t have a McDonald’s, but they do have a Starbucks.
Mentioned in This Episode:
Email: Andrew@NomadCapitalist.com