How I Manage My Money While Living Abroad (Do This Monthly)

No video

How I Manage My Money While Living Abroad (Do This Monthly)

Рет қаралды 6,673

Күн бұрын

In this video, I'll show you how I manage my money while living abroad in the Dominican Republic. From budgeting to saving, I'll share my tips on how to handle your finances when living in a foreign country.
#expatlife #expatindominicanrepublic #livingindominicanrepublic
45-Minute Phone Consultation
calendly.com/i...
45-Minute Video Consultation
calendly.com/i...
DJI Osmo Pocket 3
amzn.to/3Vvxrw3
DJI Osmo Mini Tripod
amzn.to/4clh78g
DJI Mic 2 Transmitter (Pearl White)
amzn.to/4euH7zK
STARTRC OSMO Pocket 3 Handheld Stabilizer
amzn.to/3KPxk9E
Waterproof Housing Case for DJI Osmo Pocket 3
amzn.to/3zbR1WV

Пікірлер: 144

@kerictaylor2618 2 ай бұрын

Good advice bro. We are never to old to learn about finances in today’s world.

@ogunjobi 2 ай бұрын

I'm in puerto plata at my place for the month. My friends think in suppose to be in sosua 247. I rather be on the porch with Germans, other Americans smoking bud and eating good food

@soulfullexistence9153 2 ай бұрын

Puerto plata is way better ...enjoy!!!

@GhostRider-870 2 ай бұрын

I use my credit card to pay all my bills except utilities. I accumulate points on that card every month and get cash back. I also use that same card for all my spending. At the end of the month I pay it off in full. Pay no interest and I get a dividend (cash back). Its only $50 but its money I didnt have to work for. Also, all the interest I gain from my high interest savings account I take it and roll over into my 401k. My company match is 10 percent.

@JayAbroad 2 ай бұрын

I did that in the States. I still do it here for certain things. But that's definitely way to earn travel points and cash back.

@autobotdiva9268 Ай бұрын

That part 💳

@sweetdaddy9680 2 ай бұрын

I love this type of content. I live in Tampa where Arturo Fuente cigars started. I'm hoping one day to settle in Santo Domingo.

@JayAbroad 2 ай бұрын

I appreciate it brother. I didn't know it started in Tampa. I didn't even know Tampa was the cigar capital.

@txw0091 2 ай бұрын

J Im with you man, thats my type of spot. Quiet and peaceful without a lot of people. Also, thanks for giving detailed info about how you deal with your finances. You definitely get value from you and your wife's channel. Thanks and take care.

@JayAbroad 2 ай бұрын

I appreciate that bro for the support of both channels.

@crypto_ai_v2 2 ай бұрын

those are good stuff in investing. You should do whole life insurance, you can borrow against yourself after 2 or 3 years and use that money for anything.

@JayAbroad 2 ай бұрын

I heard about that. I need to look more into it...

@TheDividendPassportBro 2 ай бұрын

You should look into investing in Dividend stocks and ETF's. At little at 200k to 300k can take care of you and your family an you don't have to pay a little to no taxes with qualified dividend... A qualified dividend is an ordinary dividend reported to the IRS as a capital gain rather than income. Individuals earning over $44,625 or married couples filing jointly who earn $89,250 pay at least a 15% tax on capital gains for the 2023 tax year. The tax rate is 0% on qualified dividends if taxable income is less than $44,625 for singles and $89,250 for joint-married filers in the tax year 2023. This is just to give you an idea... Good video...

@JayAbroad 2 ай бұрын

Thanks for the tip. I did mentioned I invest in ETFs. I need to look more into those dividend stocks. I checked out your page I saw where you recommended 3. Are those one you would still recommend someone to look further into as possibly adding them to their portfolio?

@TheDividendPassportBro Ай бұрын

@@JayAbroad There's no one-size-fits-all answer to your question since it depends on your individual situation, goals, and risk tolerance. I invest in those three positions, but in my Roth IRA, I'm less aggressive since I can't access the money until I'm 59½.I am not depending on so so security. By the time I get to that age it will just be my play money. If you want to discuss further, I will be happy to jump on a call. I'll be in the Dominican Republic next month if you want to connect then.

@JayAbroad Ай бұрын

@TheDividendPassportBro Cool, let's connect when you get to Santo Domingo next month. Here is my email iamjayabroad@gmail.com or you can message me on IG at @iamjayabroad and keep me posted when you arrive.

@autobotdiva9268 Ай бұрын

I invest heavy VYM with vanguard for the win

@riannappleapple2958 2 ай бұрын

That spot is smooth. AI and medical tech stocks are investments to have a look at too.

@JayAbroad 2 ай бұрын

Give me some AI and medical stocks to look at...

@FlashZack 2 ай бұрын

@JayAbroad check out this Fintech stocks OG. Appreciate the game and brilliance you and your wife give. TIGR FTFT Financial Tech stocks are going to have a bright future

@riannappleapple2958 2 ай бұрын

@@JayAbroad Hey brother. It depends on your risk tolerance but filter in Robinhood and you’ll find some. K

@JayAbroad Ай бұрын

@FlashZack I will check those out. Thanks for the recommendation

@BenEvertz 2 ай бұрын

Appreciate you brother! I asked your wife about this on one of her videos, this was very informative 💯

@JayAbroad 2 ай бұрын

Thanks, glad it was helpful!

@jonathanpolanco3519 2 ай бұрын

Dominican Republic 🇩🇴🇩🇴🇩🇴🇩🇴🇩🇴 for ever 👍👍👍👍👌👌👌👌👌

@antoniothomas3862 2 ай бұрын

Yo I appreciate the info. My wife tells me all the time. When I go home to DR I'm always living like I'm on vacation instead of living like a local. Then I would be able to get where I'm trying to get. I don't smoke but sometimes you want some peace and quiet.

@JayAbroad 2 ай бұрын

Unless you have deep pockets, living like a tourist here you'll end up broke real fast😅😂

@antoniothomas3862 2 ай бұрын

@@JayAbroad Yeah I've experienced that and I started taking my wife's advice.

@bigrobl7936 2 ай бұрын

Great content as usual bro

@JayAbroad 2 ай бұрын

Appreciate that🙌🏾

@Dee-pj7hh 2 ай бұрын

Excellent bout of you guys. You both have the correct attitude; and I really wish you both the best of everything. One thing I never understood though. When it comes to credit card. When a person move permanently overseas. How do you use your credit card without it being flagged? Vacation is one thing; but living outside the States permanently or indefinitely, how is it done?

@JayAbroad 2 ай бұрын

Thanks, bro. As far as the credit cards you have to notify your bank that you are living out of the country and you will no issues.

@Dee-pj7hh 2 ай бұрын

@@JayAbroad thank you so much👍👍👍

@Mhel2023 Ай бұрын

@@Dee-pj7hhyou can set a travel notice online with most credit cards as well. Some require it, some don't. I have 2 Chase cards that don't, Navy Federal requires one and so does AMEX. I live in the Philippines and in my experience, some banks frown on expats living outside the US and will shut you down. Example, I have Charles Schwab which I set a travel notice with and I haven't had issues using their ATM card, but if I tell them I'm living here they will shut me down. It could be because I'm in the Phils so DR may be different. Just check with your banks so you don't get caught out there with no way to retrieve your money.

@ItsNelson23 2 ай бұрын

Please make sure you store your bitcoin in a ledger or cold wallet to avoid it being stolen. I also invest in stocks and index funds. Im here to help if you have any questions.. My type of vibe where you can be calm, cool and collective.

@judydolcine2251 Ай бұрын

Yes please

@patrickjlouis6651 Ай бұрын

Bro I'm sitting here and this video came in at the right time. Going into the taxes you pay is big and informative... I'm 1099 also and i have big brother coming in every three months to rob me for their loot.. I have investments and some crypto ..I use Discover Bank for savings, interest rate one of the highest and I also have Schwab for a Roth IRA and banking, Schwab Banking refunds your ATM fees each month which is great if your getting money abroad. That's a cool spot you're at...Great video and information...

@JayAbroad Ай бұрын

Glad this was helpful. I may have to look into Schwab for banking. I use PNC and they reimburse me for my ATM withdrawals. What is Discover's interest rate. American Express is 4.25%

@patrickjlouis6651 Ай бұрын

@@JayAbroad You got me Beat I just checked and it's @ 4.16% right now ..

@CreativepreneurJourney 2 ай бұрын

That is great!!! I use budget tracker monthly.

@JayAbroad 2 ай бұрын

Thanks!

@CreativepreneurJourney 2 ай бұрын

@@JayAbroad you’re welcome

@khalidelshabazz4020 2 ай бұрын

Keep dropping jewels

@JayAbroad 2 ай бұрын

Yessiiirr 💪🏾 💪🏾

@bryanbingham3953 2 ай бұрын

Keep doing the damn thing J!!! 💪🏾💯

@JayAbroad 2 ай бұрын

👌🏾

@crazyworld2570 2 ай бұрын

Good info bro. Also, you have me interested in visiting Santo Domingo since i started watching your videos. I've never had an interest in SD but now I'm definitely interested after seeing a lot of the places you go to.

@JayAbroad 2 ай бұрын

You should come check it out for yourself.

@crazyworld2570 2 ай бұрын

@JayAbroad Yes sir. I’m looking into it .

@Moonwalker30003 2 ай бұрын

Always on point. 👍👍👍👍💯

@JayAbroad 2 ай бұрын

Appreciate that

@Hillsidedojo 2 ай бұрын

Great financial advice!

@JayAbroad 2 ай бұрын

👌🏾

@moebetter3143 2 ай бұрын

Let's go Jay💪🏿

@JayAbroad 2 ай бұрын

💪🏾💪🏾💪🏾

@juancordova8509 2 ай бұрын

Great topic Jay as usual .Thanks.

@JayAbroad 2 ай бұрын

Very welcome

@demarcosmith581 2 ай бұрын

Excellent info Jay! 😊

@JayAbroad 2 ай бұрын

Thanks!🙌🏾

@MiamiJato 12 күн бұрын

jobs in DR suck no matter what, you must bring a hustle or retire there with alot of money, my family retired bodegero and now living large there......

@michaelorfanos7416 2 ай бұрын

Excellent info, thanks Jay! Go Celtics!!!

@JayAbroad 2 ай бұрын

You bet!

@XYRN02 2 ай бұрын

Good Stuff… ! This is how I want to be when I grow up 😅 LOVE YOUR WORK!

@JayAbroad 2 ай бұрын

Thanks, bro 😅

@HealTheWorld312 2 ай бұрын

Great info my man!

@JayAbroad 2 ай бұрын

Appreciate it!

@jonathanpena2986 2 ай бұрын

Hi Good morning. Fan of your uploads. I would like to know if you can help me out finding a Accounting or booker Remote job please

@jonathanpena2986 2 ай бұрын

Hi Good morning. Fan of your uploads. I would like to know if you can help me out finding a Accounting or booker Remote job please

@JayAbroad 2 ай бұрын

Sorry, but that's not something I do. I don't have enough knowledge of the job industry here.

@solentricxinc.9944 2 ай бұрын

❤ this Excellent video James.

@JayAbroad 2 ай бұрын

Thanks. Glad you enjoyed it.

@kimvalynmiller5263 Ай бұрын

Thank you

@JayAbroad Ай бұрын

You're welcome

@lynwill9946 2 ай бұрын

Excellent content. Thank you.

@JayAbroad 2 ай бұрын

You're welcome!

@NurseViv 2 ай бұрын

No idea how I got here but this was a nice video!

@JayAbroad 2 ай бұрын

The algorithm knew you needed this content bad😅🤗

@NurseViv 2 ай бұрын

@@JayAbroad well now you got me curious…lemme take a look around 😎😁

@JayAbroad 2 ай бұрын

Awesome, nothing wrong with a little curiosity. It keeps us on this learning path. Enjoy🤗😉

@MarioPerez-pr8pl 2 ай бұрын

Hi J I’m following you also your wife long time before you cuz that way she talking about food , now I’m following you and my question to you ( no need to be details about) what are you source of income beside KZfaq?? . Good advised for the rest of people who are watching. Always me respect to you and family . Good bless!!!

@JayAbroad 2 ай бұрын

We have already made a video about this on this channel. I recommend watching this video, it explains how we make money.

@soulfullexistence9153 2 ай бұрын

Great video. ALWAYS GOOD. Always buy a little gold and silver. Truly is the real money according to experts

@JayAbroad 2 ай бұрын

I do own a little gold but not silver. I'll have to look into silver.

@nelsonfmartinez9153 2 ай бұрын

Good job kid. Have a pension coming next year. But I need a side hustle.

@JayAbroad 2 ай бұрын

If you coming to retire in DR you can find a side hustle for sure.

@nelsonfmartinez9153 2 ай бұрын

@@JayAbroad Having place build in vista Cana. Hope it don by January.

@JayAbroad 2 ай бұрын

@nelsonfmartinez9153 you good then. Vista Cana is nice.

@whit6444 2 ай бұрын

Yes sir keep stacking those bitcoin.

@JayAbroad 2 ай бұрын

Yesssiiirrr

@eprohoda 2 ай бұрын

Abroad! salut. what a best - ciao.

@JayAbroad 2 ай бұрын

Thanks🙏

@derrickjenkins349 2 ай бұрын

Awesome video Jay👍🏾

@JayAbroad 2 ай бұрын

Appreciate it

@gdevonfarley 2 ай бұрын

I'm moving soon. I hope you can point me in the right direction. I look up rentals in Santo Domingo but it can be misleading and very expensive.

@diosjesus6254 2 ай бұрын

I have a place in playa nueva romana 40 minutes from Santo Domingo. Is 3 minutes from beach. You can Goggle it is called Miraidy ‘sVilla check it out. Is negotiable.

@JayAbroad 2 ай бұрын

What websites are you looking at?

@InsideFacts-br8qh 2 ай бұрын

Great life bro.

@JayAbroad 2 ай бұрын

I just try to stay in my lane, mind my business, and bother no one, homie

@ronnie2harry629 2 ай бұрын

Hey jay please look into CD instead of a saving account . The interest rate on CDs are 4.95 and 5.2 pending on the bank and the terms are 6 months to one year. But a savings account only pays .095

@JayAbroad 2 ай бұрын

High Yield Savings accounts are very different from a Traditional Savings account. My High Yield Savings Accounts gives me 5.05% APY. I'm very aware that Traditional Savings accounts are worthless to have your money in. But I think CDs are a good investment too.

@nevonthedaily 2 ай бұрын

@@JayAbroad I just got me a CD with redstone credit union, interest rate is 5% for 6 months, you know I live in boring Huntsville lol

@JayAbroad 2 ай бұрын

RFCU has good rates on CDs. You need to get out of boring Huntsville. How did you get stuck there all these years...

@nevonthedaily 2 ай бұрын

I met my husband here and all his family live here also, so we decided to chill, when the kids get older we will definitely move somewhere, and Huntsville ain’t boring no more, it’s getting over populated in my opinion, Sanica and Camille still live here also

@JayAbroad 2 ай бұрын

@@nevonthedaily Enjoy it....🤗

@m3lvin888 2 ай бұрын

Great video Jay

@JayAbroad 2 ай бұрын

Thanks 👍🏾

@user-qx4zw4fy1v Ай бұрын

Good afternoon. Larry the Lawyer holding it down in New York. Man, I saw the video of you telling me how to swim. Not sure what you were told - I can swim! Keep up the good work. And, please keep investing in Bitcoin. Especially for your daughter. It will keep you afloat!! 😊

@JayAbroad Ай бұрын

Larry, they told us we almost lost you. We can loose Larry he the connect😅

@RA-qb4gl Ай бұрын

Look at energy mutual funds that pay you every 3 months

@JayAbroad Ай бұрын

I'll definitely check them out...thanks for the recommendation

@lionness_simsima5941 2 ай бұрын

Hi there

@moezmusik3659 2 ай бұрын

👍🏽

@Davirdcarrol Ай бұрын

Just came up on your channel like ask you a question do u get pay from KZfaq is that how your survive or do do some type of on line work I know have kid's and a wife to take care is not cheap no matter where you at so am just caurioes ok I love your channel I do share and like

@JayAbroad Ай бұрын

Yes I get paid from KZfaq but that is not solely how we earn money. I recommend watching this video we made about how we make money kzfaq.info/get/bejne/it-KZNtqtdq4hoU.html

@RANDOMPOLAND85 2 ай бұрын

Just reading coments 😊😅

@lionness_simsima5941 2 ай бұрын

Content

@robinsonnunez2129 2 ай бұрын

Klok ⁉️

@JayAbroad 2 ай бұрын

💪💪

@hectoraristy9186 2 ай бұрын

That's looking NY?

@JayAbroad 2 ай бұрын

Very high end place...

@rosemaryvp 2 ай бұрын

Jay, how do you handle the residence situation as it pertains to taxation in US. That is, do you have an address in US vs reporting as international resident? If you do have a US residence for tax purposes, do you pay state taxes? Also, were you able to keep you us credit cards?

@JayAbroad 2 ай бұрын

It doesn't matter whether you have an address in the US or abroad, if you are an American citizen and getting paid by American companies you have to pay taxes. You can live in igloo on a glacier in Iceland, Uncle Sam want his by all means. If you business is set up in a State where there are State taxes you must pay. And yes all my credit cards were issued by US Banks.

@rosemaryvp 2 ай бұрын

@@JayAbroad I know Uncle Sam is Gagnsta! I’m just trying to figure out how to minimize taxation as a contractor man! 😏 I guess I have to keep searching. You know how it is, one keeps knocking doors; eventually someone answers and one follows. 😉I’ll get my answer 😏

@JayAbroad 2 ай бұрын

@@rosemaryvp Well if you get an answer different than mine let me know. Because I searched too and talked with CPAs and I've gotten the same answer. The only other way is FEIE (ForeignEarned Income Exclusion) you can earn up to $120k tax free. The caviat to that is you must be a resident of the country. So I can't use this until I'm a resident. Other than that we are back to my original answer.

@rosemaryvp 2 ай бұрын

@@JayAbroad that’s more like what I was thinking. Thanks!

@EnriqueBecerra-jq7zq 2 ай бұрын

Boston Celtics did win the NBA champion 😂😂😂 #GOAT

@JayAbroad 2 ай бұрын

Wow really? Did they?

@EnriqueBecerra-jq7zq 2 ай бұрын

@@JayAbroad yup, I owe you a beer and a cigar

@gregdavenport3065 Ай бұрын

Learn about crypto bro!😎

@judydolcine2251 Ай бұрын

I need a good High Interest Earning Bank.

@JayAbroad Ай бұрын

American Express has around 4.25% apy

@autobotdiva9268 Ай бұрын

Dividend investing is king. VYM for the win 💰

@JayAbroad Ай бұрын

Is that a good one, I should look into?

@autobotdiva9268 Ай бұрын

@@JayAbroad VTI, VYM are the index funds but VTSAX, VYMI are the big boy funds $.

@autobotdiva9268 Ай бұрын

@@JayAbroad hmm, not sure what happend to my other response. but VTI and VYM are index funds and VTSAX, VYMI are the big boy funds $. VTSAX is the G.O.A.T.

@JayAbroad Ай бұрын

Got it I'm going to look into all of them.