Do I Pay Taxes As A Full Time Nomad? Ubud, Bali, Indonesia Travel. Expat living abroad retired

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Aloha! I hope you enjoy the video. New content on travel, early retirement, investing and living a healthy, positive life every week.
I am a full time traveler and an expat from the states. I live low cost and happy overseas. Come along!
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Books by Christopher LaVoie:
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[@koufax174]

I want to acknowledge you. In order to live the life you do you are very smart and sharp. So much advanced thought is necessary to make it happen. Congratulations. I know because I am also a slow traveler. I focus on SE Asia. All my i’s are dotted and t’s are crossed. You open so many peoples minds up to what is possible. Back home it’s a hamster wheel nightmare. I just returned from a short trip there. I was so grateful to myself I left. You make the world a better place. 🙏🏼

[@RetireandGo]

I totally understand I’ll be in the US for Christmas I wonder what it will feel like haha

[@riverleigh8]

Showing the map of where you walk is really beneficial, cheers

[@RetireandGo]

Thank you I will try to show more :-)

[@mangostickyrice555]

Thumbs up 👍 Chris & Aloha

[@RetireandGo]

Aloha to you !

[@jeffbradley2614]

Another great video thanks Chris. Very informative on the qualified dividends versus unqualified dividend topic

[@RetireandGo]

Thank you for this feedback I was hoping that part was understandable

[@jimhayd7857]

Hey. Thank you for all your advice and for sharing certain personal details of your personal life. I enjoy all your videos and benefit from your advice Your comments re health and fitness in particular struck home w me. Good luck !

[@RetireandGo]

Thank you, it is my mission to inspire you in the spirit of bodhisattva I’m happy to do so :-)

[@davidweis2722]

Very educational video about taxes and the qualified dividends. Ubud Bali is a very peaceful and relaxing location of Indonesia.

[@RetireandGo]

Thank you ! I appreciate this feedback :-)

[@mpower6004]

Your video presentations from Bali proves us right why it is our favorite travel destination .

[@RetireandGo]

Thank you and I totally agree! :-)

[@grancacadelavaca]

Great! Thanks a lot for being an inspiration!

[@RetireandGo]

You are most welcome :-)

[@tomwhite9716]

Thank you for the informative video! And the ribs look great!

[@RetireandGo]

You are most welcome :-)

[@masteropuppets5642]

When referencing a Post Office Service or a Address Service... Are you taking about a PO Box? Or is there a special process to set up a residency in Texas that is different from a PO Box?

[@RetireandGo]

The official laws I’m not sure about But there are P.O. Box ways to set up residency It’s easiest Research the specifics ok?

[@oscarvaldez7142]

Good info! Looks like the market could be correcting in the coming months, could be a buying opportunity soon.

[@RetireandGo]

Yes yes Have some cash ready :-)

[@jerrychinforex]

Thank you for these regular tax and financial videos. If anyone needs details about some of the great ideas covered here like changing state residency and how to work remotely with yiur accountsnt, im happy to continue the conversation with y'all. Yes sir I am and acciuntant from Texas. Hey happy veterans day soon brother.

[@RetireandGo]

You are most welcome I hope they help inspire you :-)

[@PowerfulMoneyHabits]

I have set up my retirement income to be 1/3 peer to peer lending (interest) taxed at earned income levels, dividend funds- taxed at reduced rate, and syndicated oil and real estate funds- no tax. This will allow me to retire in 5 years at 56 with a substantial income! Love your videos! They have inspired me to think about how I want to spend my retirement.

[@RetireandGo]

This is fantastic You are doing great I appreciate this comment

[@enigmawpg9751]

Just wanted to say your videos are very inspirational. I have planned to retire on dividends somewhere in South East Asia, before I saw your videos. Today you answered the tax residency questions I had. Thank you for your advice and entertaining videos.

[@RetireandGo]

This is great to read It is my pleasure to make these videos for you :-)

[@jimhayd7857]

Have you used a small electronic translator? Such as Fluent T1? Are they any good?

[@RetireandGo]

I have not but they look really cool !

[@4flyguyeli]

Your videos are awesome and a huge sense of support and encouragement. I left USA as a slow traveler 10 weeks ago and find it exhilarating and exhausting at the same time. I’m grateful to not have a job and be incessantly chased by bills, but I also find that I am quite lonely and very isolated from friends and family. I remind myself that even if I was back home that I wouldn’t see them very often because then I would have to get a full-time job and they all have full-time jobs. I’m active, I’m social and engage a lot when I’m out and about, but still feel lonely and isolated at the end of each day. I would appreciate any advice. Thank you very much.

[@RetireandGo]

I totally understand I also have times that I miss family of course Are you keeping yourself busy with hobbies or studies ?

[@4flyguyeli]

@ I keep myself busy and active every day, but doing everything solo is just not the same as with friends and family. I’m in constant contact with them via technology, but not having them here is quite challenging.

[@RetireandGo]

@ I understand I get this way too

[@user-no2ei6dp2q]

So happy I have a Roth!

[@RetireandGo]

Nice! You are doing the right thing :-)

[@DavidFullard]

Just to let you know, since the volcanic eruption at laki laki last week, Australian Airlines have cancelled all flights in and out of Bali. With experts prediciting further eruptions. Gee i wish i was stuck there. Just some info i thought youd want to know. Hope your going great ;) PS 3rd time watching through youre videos, theyre great.,

[@RetireandGo]

I no saw this in the news Things change so fast We have to be ready to adapt

[@DavidFullard]

@@RetireandGo Glad you know. I could esily adapt to being stuck in Bali, in fact id love it, haha.

[@birchfj2]

Living in México full-time now. I left high tax Massachusetts and established residency in South Dakota. SD has no state income tax. They make it very easy to establish residency as a digital nomad or expat. I use a great mail service there that provides me with a physical address that my banks accept. I was also able to vote from outside the country with very little hassle. Just another option for change of state residency in US if you want to avoid state income tax.

[@RetireandGo]

I love South Dakota This is good information!

[@danielr.5163]

Hi Chris, I‘m curious what weight in % ABR and SBLK got. in your Portfolio as they are more riskier regarding dividend cuts

[@RetireandGo]

True Those two are riskier But they pay a lot haha If they cut and lose 10 percent value , that’s a real possibility SCHD is lower risk and some others

[@davidweis2722]

I am not sure if you had a discussion about the best Credit cards for your travels and how do you get cash in Ubud and your travels ? Do you use the ATMs more than the money exchange ?

[@RetireandGo]

Outstanding question! I have a video coming up this week that will cover all of this ok?

[@elbywest5977]

Very good video! I did have a question about your travels, are there public bathrooms, idk about you but sometimes when I'm out walking I just have to go!,. I was just curious what do you do in an emergency? With all sincerity?

[@RetireandGo]

Great question Most southeast Asian countries have public bathrooms that cost about 5 baht or less than 25 cents American These keep them clean and operational They don’t have the homeless or property damage cultures the US has

[@methemonkeyking]

That is not only a good question, it's a great question. Us westerers are used to a certain diet. Guaranteed, you will be hit with Montezuma‘s revenge. I personally would recommend bringing a suitcase of anti-diarrhea medication.

[@ianwhittaker3041]

Hi Chris, do you have a daily budget you like to keep to and not go over, ie that includes accommodation, all your meals, groceries and any money for drinks (coffees, beers etc.) and entertainment? Thanks

[@RetireandGo]

Check out my 30 day costs videos I make 12 a year That will break down costs a bit more :-)

[@philssouls]

A little walk - fine :-)

[@RetireandGo]

Oh yes Good exercise :-)

[@ianwhittaker3041]

Hi Chris, does your accommodation in Ubud have air conditioning for $16-$18 per night? Thanks

[@RetireandGo]

Absolutely Air con WiFi Utilities Cleaning Breakfast

[@wildfoodietours]

I enjoy traveling light like you and would ideally like to only wear one pair of shoes for a 3-6 month trip to Thailand and Vietnam. I've narrowed it down to either the Teva Hurricane XLT2 open-toed sandals or Keen Arroyo or Keen Newport H2 both of which are closed-toe shoes. What's your take on open-toed vs closed-toe sandals? I believe in your earlier videos you wore open-toed sandals but now closed-toe ones. I plan to do LOTS of general walking around town AND hiking up mountains/forests. If anyone else has experience or advice on wearing only a single pair of shoes for travel of several months up to a year, please chime in. I really wonder if just wearing a single pair of sandals would work in almost all situations minus dining out at a fancy restaurant or going to the gym?

[@RetireandGo]

Good points Keen sandals might be too casual for fine dining haha But waking into indoor or outdoor restaurants throughout Southeast Asia they work great I wear them everyday

[@Hayden-jm9um]

Awesome video. I would like to be financially setup to live in Manila in 5 years time. I am 40 now

[@RetireandGo]

You are doing the right thing Planning and preparing

[@CurtisMoe]

Foreign Earned Income Tax Exclusion is awesome. You are basically incentivized to work remotely. I have been getting a healthy tax return every year. I would end up owing the gov if I moved back to the US. Only works for W2 jobs though.

[@RetireandGo]

I agree My overseas years totally rebuilt my life financially

[@SlickSydney]

You were walking on a narrow sidewalk a couple times in this video. Look about the 8::30 minute mark. There was a cat behind you. Is that where you were staying. If it was how the heck did u find that place. It s nice inside but kinda questionable on the outside! Thx

[@RetireandGo]

Interesting There was a cat roaming behind me ? It was a mad cat stalking me haha :-)

[@KyleSwilley]

Nice one again, listen I do have a question and it's concerning travel expenses and deducting them. What I mean that as travel is your full time work (produce content for YT and Google pays to you), so are you deducting any travel expenses as a solo entrepreneur or do you have an LLC (maybe S-Corp, depending on the income level) that I believe would allow you to deduct these travel expenses since the travel is essential to your work of producing travel related content? Cheers!

[@RetireandGo]

I let my CPA handle all tax issues Every January I download the end of year assessment from each brokerages, credit cards, banks, everything I email them to her She does my taxes I sign and pay online using a VPN from anywhere in the world Other than this I can’t really answer tax questions haha :-) Does this help ?

[@LarsAndersen-ig9yt]

Ubud is fantastic, but pay attention to the air quality index. Ubud has experienced an air quality score of above 150. A moderate air quality ranking sits within 51-100 US AQI; 101 US AQI or higher enters the dangerous zone. It´s actually a problem for some locals.

[@RetireandGo]

Interesting! The tasty meal index was 100 percent too Haha I loved this time in Ubud The chill atmosphere I could just live here

[@LarsAndersen-ig9yt]

@@RetireandGo UBUD is stunning.

[@DamienYuen7718]

More and more banks now require a physical residential address to hold an account with them instead of a mailbox location like a UPS store. How do you manage around that, or do you use a friend or family members home address?

[@RetireandGo]

Is this an issue you are facing? Check out mail box services UPS, mail box , double check laws in your state ok?

[@tonyf7997]

Hello from 🇦🇺 Great educational video. As an Aussie we have only $18k tax free on any earnings and then tax kicks in with personal investing however, if in a company/trust we pay 30% federal tax and for any US sticks or funds earning we also pay 15% US tax regardless.. unfortunately Australia tax you regardless and your assets are audited once you are 67 to determine if you are entitled to a govt pension…. Those who have been astute in investing and earn decent $$ get zero!! 😢

[@RetireandGo]

18k is great That’s 4 k more than the US That will wipe out some rental profits for sure! Tax free and ready to enjoy life ! Side note, I want to travel around Australia haha

[@AJ-ww6qs]

Hey mate, rethink the $18k tax free threshold. Do a bit of research and you will find it’s closer to $22k earnings before paying tax. $18.6k give or take tax free threshold, yes then then add low income tax rebate on top of that. Fellow Aussie here. Speak to your accountant.

[@AJ-ww6qs]

@@RetireandGo hey Chris, you think the cost of living is bad in the states? You have seen nothing until you get to Australia. The cost of living is absolutely crazy. Your income of $24k you say you earn won’t get you far at all.

[@RetireandGo]

@@AJ-ww6qs ugh … yeah true Renting a camper built out van maybe

[@tonyf7997]

@ - mate, I have had accountant do our tax for 40 years and fortunately will never get close to low income but what I’m saying is you can minimise but will pay tax on income including dividends or earning on anything global.. 🙏👍🏼

[@ianwhittaker3041]

Hi Chris, how many different companies do you invest in, ie dividend stock companies, and are they all US companies or are some international? Thanks

[@RetireandGo]

International for sure About 30 I would say I will Go over more of them in videos ok? :-)

[@ianwhittaker3041]

@ when I say international I mean foreign/ overseas headquartered companies like Nestle, Samsung, British Airways etc, not US companies operating internationally 👍

[@RunAwayTraveler]

How do you juggle all the sim cards from the different countries you travel to?

[@RetireandGo]

Great question I just use an international plan I use so much data it’s crazy haha But most people can just use WiFi Cheap and comes with the hotel

[@RunAwayTraveler]

@@RetireandGo T-Mobile has a pretty decent plan for military Veterans. Are you using their international plan? How do you keep your sandals from stink as hell with out wearing socks?

[@gothops2632]

Not too many tourists in Ubid, Chris?

[@RetireandGo]

At night it gets really busy I’m out walking in daytime so it looks quiet haha :-)

[@gothops2632]

@RetireandGo Ah ok . Which area of Bali has the least tourists, but is still nice to stay?

[@johnjoe_247]

Is your channel , monetized ? Are you using your channel as a business ? Do you have it set up as an LLC ? Do you claim your channel as earned income ? My friend does that with his travel channel and writes off his travel expenses and camera/ equipment expenses . Just curious. Peace !

[@RetireandGo]

Nice channel photo ! I manage everything the best I can I’m investing every month as well Whatever income I have left :-)

[@Jefe_Perro]

Sumatran tigers have nothing on that wild beast you encountered at the end 😉

[@RetireandGo]

Haha true :-) Have a great weekend

[@keepingitsimple88]

thats amazing that your'e able to live that lifestyle with only 24k USD per yer? What would you say your average cost for rent is per month?

[@RetireandGo]

About 500 a month average Air conditioning All utilities WiFi Cleaning Incredible !

[@keepingitsimple88]

@@RetireandGo love your channel

[@Jay-bosscfi]

What is your average yield for your dividend stocks? Is the cpa expensive

[@RetireandGo]

I’m trying to achieve 6 percent return :-) Oh yes I use a CPA Yourself ?

[@SteveWeiss-ey5zw]

6 is very good, I’m only getting 4.98 average

[@RetireandGo]

@ you are probably less risky though so you are doing fine :-)

[@SteveWeiss-ey5zw]

@@RetireandGo thanks and my cpa is charging me to much I think $700 in Jupiter FL

[@RetireandGo]

@ that does seem high But are you operating a business? Then I can see that price

[@MountainGoat67]

Shouldn't you start saying "YEE HAW" at the end of your video instead of "ALOHA" since you are now a Texans? :)

[@RetireandGo]

Haha :-)

[@philpatt970]

That’s not totally accurate about taxes. There are several places in the world where you can live and not required to file taxes with the IRS. There are several US territories where you are not required to file with the IRS. You are, however, required to file with the territory government, but the tax rules are different and many ways beneficial. Puerto Rico is probably the most well known territory. Hands down, Saipan in the Commonwealth of the Northern Mariana Islands has the lowest tax rates of anywhere in the world for US citizens. Internal Revenue Code Section 937(c) lays out the specifics.

[@RetireandGo]

Nice!

[@mpower6004]

I want to add one more thing - the travel lifestyle that you live , people in the Unite States with much higher income can not afford and I am talking also about myself.

[@RetireandGo]

I understand It costs my around $1,500 a month total to live in Southeast Asia I buy dividend stocks with the rest of my income I make $24,000 a year I try to be clear about this lifestyle so people can make a good assessment if they can live this way :-)

[@jacktripper9096]

So is your Drivers license a Texas ID ?

[@RetireandGo]

Haha why do you ask ? I don’t have a car anymore I don’t think I will ever own one again :-)

[@WorldRandall]

Hey Chris, fellow American from Texas here. Love your videos! I’m in Ubud at the moment if you’d like to meet up for a coffee.

[@RetireandGo]

Thank you for this :-) My videos are a bit ahead of my location :-)

[@RetireandGo]

What area of Texas? It’s a good state to set up residency

[@WorldRandall]

@ I’m from Austin.

[@WorldRandall]

@@RetireandGo ah ok. No worries. Keep up the good work. 👍🏽👍🏽

[@hgraphix]

Texas is great without income tax. However, they’ll get you on the property taxes, if you own property that is. Property values have gone up like crazy and so have the taxes 😢

[@winnerwinnerchickendinner8809]

Watch out for them Reticulated python on thr rice field. Just kidding. Enjoy and cheers!!

[@RetireandGo]

Oh my haha ! The mad snakes :-)

[@TheRaindogger]

Are you able to live on your $24,000 per year dividend income? Do you have other income coming in?

[@RetireandGo]

My cost per month is around $1500 I use the rest to buy more dividend stocks I live a chill life haha Nothing luxury :-)

[@sirdino6967]

@@RetireandGo the way to live Chris !!!

[@MichaelRichard-o9r]

Short term capital gains tax can be high.

[@RetireandGo]

True! Qualified dividend income is not taxed high It’s awesome :-)

[@MichaelRichard-o9r]

@RetireandGo usually hold a year or longer trade inside an IRA

[@Anqhgjfhcvuywzxqu]

2:33 only earth, no moon no mars, kind of disappointed

[@RetireandGo]

All these planets are yours except Europa, attempt no Landing there. :-)

[@jtraveler888]

You have it figure out! Living well and not paying taxes. Your money wisdom is sound. So, what can you tell me about women? Haha

[@RetireandGo]

Haha ! I travel solo :-) Have a good day

[@nunuvyurbiz123]

Actually, there are two countries that tax its citizens no matter where they are in the world - one is a tyranny, and the other one is Eritrea. (And Eritrea only taxes a tiny amount, like 2% or something.)

[@RetireandGo]

Interesting I never heard of that country !

[@andylifetravels]

You do US citizenship 😂

[@RetireandGo]

Is this a question?

[@mrgoldy7532]

Trump said he would end US income taxes on Americans living in other countries

[@stawill7854]

😂😂😂😂😂😂😂😂

[@ohmstrong]

I don't think Trump will have that power to do such great thing for us but good luck! Remember that he is just a president not a owner.

[@RetireandGo]

We shall see You can shelter income from taxes through dividend stocks either way Research on this and other avenues :-)