In this podcast Andrew explains why it isn’t illegal to opt out of the IRS and solid strategies for those making $100,000 +. The Nomad Capitalist guest this week is James T. Clark. Clark manages 20 websites from far away places like Namibia, Ireland and Southeast Asia. He visits his native Australia once a year to say hello to family and then is off again. He talks about international banking and one question he gets asked a lot but can’t really answer.
Key Takeaways:
Andrew’s Editorial:
[1:18] Tax Season
[3:32] What is a Nomad
[6:25] The Foreign Earned Income Exemption
[10:07] Two qualifiers for exclusion
[15:17] Strategies for $100,000 + earners
[17:57] Passport to Freedom example
[19:45] Legally opt out of the IRS
The Interview:
[22:27] James wanted to work for himself
[23:55] Walking away from Australia
[24:45] Scared Stuck
[25:59] The Ireland A-ha moment
[28:07] Perpetual Travelling
[29:59] Digital Nomads can have relationships
[31:20] Life is long, never say never
[34:24] How does James plant flags
[37:06] The quality of Southeast Asian healthcare
[38:13] Success in travel websites
[40:01] Biggest Challenges - International banking problems
[40:59] Australian banks
[42:01] The Big Tip
[43:18] Lightning Round - Food delivery for expats
[44:00] One Place - This question is to hard
[44:45] One Tool - Evernote
Listener Question:
[47:44] Juanita wants to know more about Andrew
[48:50] Go where you’re treated best. The idea behind a Nomad
[51:25] Learning from expats
[54:20] Key goal in travelling
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