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