“FU Money”: How Much Do You Need?

Рет қаралды 39,093

4 жыл бұрын

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

Пікірлер: 90

@RachelAMullins 4 жыл бұрын

Your commitment to pastels is unparalleled.

@ghanadan5659 4 жыл бұрын

I think it's cool it works for him

@nfvjgrofgjvoldlkgvlo 3 жыл бұрын

whaat about his commitment to blue?

@beach182 2 жыл бұрын

This comment 👌🏽😂

@bpe9578 Жыл бұрын

True! But he has the fairest skin tone and looks good in those colors. Also, he is often in hot weather so it works for him.😊

@chafundiforni0 4 жыл бұрын

"your wealth is directly proportional to the amount of people you can tell to screw themselves and still be fine". Don't know where I heard it, but it's pure gold

@anon2034 4 жыл бұрын

Correct!

@slevinhyde3212 4 жыл бұрын

now that's a definition I can agree with.

@cisium1184 3 жыл бұрын

The need to tell other people to screw themselves is emotional, not financial. If you have that emotional need, no amount of money is ever going to fix it. For me at least, being actively satisfied at telling someone else they can't have what they want from me has been a wake-up call that _I've_ been trading independence for money. In other words, _I'm_ the problem, _I'm_ not happy because _I'm_ not living as I wish, and that I need to make some changes to how I am living. If I do that, any desire to tell other people to stick it dissolves.

@Blacksword404 3 жыл бұрын

@@cisium1184 Some people need to be told to screw themselves. If more did they might not be such horrible people.

@NickDemski 4 жыл бұрын

I hope people realize they don't need to have a giant amount of money to have a FU fund. It depends just as much on your outgo as it does on how much you've piled up. If you can keep your cost of living low by living better worldwide instead of in your home country, it's possible to build a FU fund even on modest wages. As a simple, 5-figure entrepreneur who's relatively new to this, I'm not hurting during the economic downturn because I have my FU fund. And tbh, it's not that much money, but it's enough to survive for a few years without income because I manage my budget through living the nomad life.

@marcusd9192 4 жыл бұрын

You can leverage your FU fund even more by learning self reliance skills such as growing your own food, carpentry/construction, natural health, cooking, clothes making etc. Buy some land, livestock, tools etc and along with a modest FU fund you are set!

@garrygrant2394 4 жыл бұрын

Spot on! I have two small companies and overall revenue is down 80% right now! But we could carry on operating for two years or more without issue since we keep it lean. If things deteriorated significantly I could just move out of the city and buy myself a few more years. However prices are crashing right now so city life is actually cheaper then it was over a decade ago!

@ashsqx3246 4 жыл бұрын

Same here!

@Xalta_Sailor 4 жыл бұрын

The only true democracy is how we spend money. Each unit of currency is a vote. Use your votes wisely and they will lead you to Andrew’s famous “go to where you are treated best”.

@JG-zf6yl 3 жыл бұрын

“He can give it to his grandchildren or give it to the whales...” This is why I love your channel bc we are learning so much with a smile on our face. Thank you!

@jjdelamo6246 8 ай бұрын

Retire in the Philippines. Live like a king on $3,000/mo.

@jackdeniston9326 4 жыл бұрын

Single male, Moved to Italy FU was 1/2 Mil euro. Simple man

@silo3com 2 жыл бұрын

Tell me more

@spencervance8484 11 ай бұрын

@@silo3comI dont think he will

@bakerdow9884 8 ай бұрын

Wrong country mate, trust me on this one

@garrygrant2394 4 жыл бұрын

It's without question relatively easy to semi retire / build up a substantial cushion when operating your business or working a high paying job outside the West because you keeping most of your money. However you certainly don't need anywhere near as much as most think to live an enjoyable lifestyle but it's important to inflation hedge which is my biggest concern right now with all the money printing.

@ericeverson5956 4 жыл бұрын

Fav line........."He can give it to the whales or whatever he wants to do" Love it:)

@Thatguyy7439 3 жыл бұрын

All 776 likes are from the whales.

@dpie4859 4 жыл бұрын

I have about 550k in cash and about the same in my pension fund. I am 50y old. But I feel “poor”. Why? Because live in Switzerland and I don’t own a house and things are SO expensive here. No interest rate and a potential depression lurking with hyperinflation make our future look very bleak indeed. Take care everyone.

@trendtradertrender4328 4 жыл бұрын

I am from lake constance, know about Zurich and CH very well. You have ever considered to move abroad? Maybe Thailand or Malaysia are great places and good lifestyle. Also Lisbon in Portugal has good infrastructure- Take care !

@overbuiltlimited 3 жыл бұрын

Bitcoin. Look into it. It will change your life.

@patricksweeney5132 3 жыл бұрын

Northern Italy's housing offers fantastic value for a Swiss and in real terms is just as rich if you prefer living in wealthy surroundings.

@NewHampshireJack 4 жыл бұрын

Greeting from the Republic of the Philippine Islands. Two of your videos and we are hooked, the SUB button has already been smacked!!! Early December 2020 will be my eighth anniversary as an EX-pat. It does a person good to get a perspective from a few other countries beyond where they were born.

@hjb8505 4 жыл бұрын

Ok so step 1 is 1.2mil a year. Hold my beer

@alexmac4039 4 жыл бұрын

Wanna partner up? Let's at least have a discussion.

@chrislanejones 4 жыл бұрын

I have been saving since the great recession and have some passive income sources. Like the Nomad Capitalist says you can't see the books when you are working for the man.

@hamishfullerton7309 4 жыл бұрын

Good problem to have, I'd love to know more about your pool business and how you scaled it. I am a plumber and would also like to scale in a Australia, so I can eventually live in a places like Tibils. A good mate mine is married to a Georgian and lives there. I went there for a holiday and loved it. You're right lifestyle is good especially the food very fresh and healthy, interesting culture, not to croweded , good value and nice weather , traffic is the only negative , how much is your one on business coaching?

@2dahiphop 4 жыл бұрын

Love this channel.

@nomadcapitalist 4 жыл бұрын

Glad you enjoy it!

@ZelenoJabko 4 жыл бұрын

Very useful, Hans.

@amir5593 4 жыл бұрын

Rare topic + Valuable guide.

@nomadcapitalist 4 жыл бұрын

Glad you enjoyed it!

@pkREX24 4 жыл бұрын

can you do a video on tax treaties?

@murraysaucedo897 3 жыл бұрын

FU Money = the best kinda Money

@maverickcapitalist1 4 жыл бұрын

A great topic and definitely a topic that I used to think about more then now. The reason being that I now focus more on the process and methodology of my work and finding fulfillment in what I am doing for a life-time. Work will occupy a huge percentage of a person's time during their lifetime which is why seeing value in the process if often more essential then trying to make x sum of money and then retirement. No question also, the sum of money varies from country to country.

@nomadcapitalist 4 жыл бұрын

Well said!

@ericeverson5956 4 жыл бұрын

We used to call these emergency funds.

@Tbessix220 4 жыл бұрын

-Pay less taxes -Reduce your expenses -Move out to a less expensive area This will give you the freedom and extra cash to work on your business, invest, etc..

@caremassageinc.westshore597 4 жыл бұрын

That will make California ghost state))) "Its not how much you make , it's how much you keep" Il add...and put that what "kept" in compouning interest viachels with IT understanding and analysis becouse: " compounding is very interesting thing, hwo understand it - earn it, hwo are not - pays it".

@Tbessix220 4 жыл бұрын

@@caremassageinc.westshore597 What if how much you make is low? We focus too much on the defensive side... Why don't we go on the offensive and increase how much we make? This is what i like lol

@rachelmullins5563 3 жыл бұрын

Very few things are better than a good old Johnny Paycheck reference.

@ammaralammari7392 4 жыл бұрын

Egypt is nice country to retire . Cost of living is low, the weather is amazing. Service and health care are good too. You can live in the capital city cairo or maybe in a city on the mediterranean sea or the red sea. The best thing is that you can get a 3 years bank certificate that give you returns of 12 % a year. So if you have 200,000 dollars, just spending from the intrest you can get a good quality life.

@ammaralammari7392 4 жыл бұрын

If not feeling comfortable keeping your money in local currency the banks will give 4 % on usd certificates

@lreeher 4 жыл бұрын

@@ammaralammari7392 You are going to keep a USD account now with the FED printing to infinity?

@dpie4859 4 жыл бұрын

Which interest rate? No way I would put my money in Egypt in local currency.

@ammaralammari7392 4 жыл бұрын

@@dpie4859 if you buy a property in your country that makes you 1500 usd a month it will be enough to have a good quality life in some countries around the world. Egypt might be one of the good choices looking at the value you get for the minimum amount of money needed

@ammaralammari7392 4 жыл бұрын

@@lreeherit happens that some assets lose value. But of course assets are less risky than cash. What i did in Egypt that i spend my interest on my money buying real estate. This way i can diversify my investment portofolio

@darthbeavis8511 3 жыл бұрын

I’m giving all my money to the flat earth society.

@ethanhorvitz3815 3 жыл бұрын

You can live on about $950 a month in the United States if you're good.

@leplane_ 3 жыл бұрын

😂

@MuzixMaker 8 ай бұрын

In a van down by the river.

@dlukton 4 жыл бұрын

Taking the example of a guy who's earning $100K per month.... he'd have to give up his US citizenship in order to significantly reduce his federal tax obligation. But I think that it would be worth giving up his US citizenship in such a case, as long as he's confident that he'd be able to continue earning that income without being physically present in the US. (Or maybe there's a way around the "controlled foreign corporation" tax rules that I don't know about).

@nomadcapitalist 4 жыл бұрын

There is. 😉

@dlukton 4 жыл бұрын

@@nomadcapitalist Intriguing.

@dexterspeights3484 4 жыл бұрын

Travel to countries where cost of living is cheap and at the same time grade the infrastructure of the country you plan on planting your flag. Some cheap countries have poor infrastructure - so setting up a e-business or dividend income investor is going to be hard do without the right set-up!

@paulrowe4502 3 жыл бұрын

One of the biggest concerns I have not seen Andrew frequently address throughout his videos is healthcare. You won't be in the 30's forever and it's one thing to take up residence in a country with reformed tax laws or appreciating real estate, and quite another to rely on that country for emergency medical events or serious chronic conditions.

@Avidcomp 4 жыл бұрын

I'd love to see you have a sit down chat with John Allision (former BB&T) and/or Lars Christensen (SAXO) to discuss investments in the broad sense. I think you'd do long format discussions well - although I suspect you may not have the time. A monthly special?

@nomadcapitalist 4 жыл бұрын

Thanks for the idea.

@MuzixMaker 8 ай бұрын

Depends on how you want to live.

@abouttime7410 4 жыл бұрын

I fired my first customer when I was in the 5th grade!

@chinaberg 4 жыл бұрын

He is a Tom Leykis listener.

@omarelmohri 3 жыл бұрын

“Give it the whales” love that lol

@fadibaddur2949 4 жыл бұрын

A smart strategy similar to the 4% approach in the Financial Independence Retire Early (FIRE) community

@prateeksarin3555 Жыл бұрын

Goldman sachs entry limit is the FU money that’s how it’s structured. 10 million $

@jameskikuoka4863 4 жыл бұрын

You mean 50-55% in taxes if you live in NYC and you are single filer!

@QQQBall 3 жыл бұрын

I had a Client tell me today "I cant believe the fees you guys are getting these days!" What I said was "I aint getting rich; fees have been flat for 30 years and expenses go up annually." What I wanted to say "F-U!" I talked to my partner and asked him "What's the use to having F-U money if I never say F-U?"

@Genxrgonemad 3 жыл бұрын

I love this channel. But I would love to hear from the board what areas you can make that kind of money to get out of the rat race

@vickiewilkins1579 10 ай бұрын

For government employees, they should create a shutdown fund in addition to the emergency fund. This way, you can weather the storm.

@MuzixMaker 8 ай бұрын

It’s practically impossible to fire government employees. They say FU to all of us unwashed.

@RJMartinez 4 жыл бұрын

On my way to Thailand🙌❤

@alexmac4039 4 жыл бұрын

Take me

@Commaoligarch 4 жыл бұрын

Hi Andrew. Let’s say someone comes into Money. Let’s say a vast sum of money. How would you handle becoming suddenly rich?

@MuzixMaker 8 ай бұрын

Two chicks at the same time, man.

@hansolo7205 4 жыл бұрын

It all depends on how much, hard and often the boss was f ing you.

@ericeverson5956 4 жыл бұрын

He wanted mail box money.

@luisfontiveros7775 4 жыл бұрын

Can One be a Nomad earning 100k a year?

@alexmac4039 4 жыл бұрын

You damn sure can. You keen on investing? I'm looking to start an online business. I have experience. Very low capital to start. Lets have a discussion at least?

@eventhisidistaken 3 жыл бұрын

Certainly, as long as that income is portable.

@FidelHimself 4 жыл бұрын

Bitcoin -> Seasteading

@jessecortez9449 4 жыл бұрын

Seasteading is looking more and more appealing to me. I'm looking into getting permanent resident status in Panama. I've found a program that has a decently low investment requirement. I've focused on Panama because a family of seasteaders have started a company that will build seasteads near their after they were run off of their Asian seastead and so far Panama is being cooperative.

@FidelHimself 4 жыл бұрын

Jesse Cortez yes I’m aware of that group. I had to cancel my trip to Panama or I’d be there right now! Still planning to check it out soon.