How Much Money Do You Need to Be Free? (FIRE is Wrong)

[@ShamileII]

I retired at 54 from my aluminum manufacturing company in Florida. I have a networth of $4.1M and have no need to be that serial entrepreneur because you only think that way because you're subconsciously chasing money. When you have financial freedom, all this goes away amd you literally want to take the time to smell the coffee. No stress, no worries and not a care in the world while I type this sitting by my pool at my paid off home in Florida.

[@walterhartman3275]

how much did you make on the waste?

[@texasoilfields]

Enjoy your retirement, and the aluminum-consuming world thanks you sir

[@walterhartman3275]

You couldn't pay me to live in Florida. Coffee is bad for you and will age you. Fluoride is a waste byproduct from the aluminum industry and the ADA had to finally admit it was a neurotoxin all along. But it figures you would be happy next to your pool. I've been building wealth but not off the pain and suffering of others.

[@mithrandirthegrey7644]

Good for you bro. Enjoy your golden years.

[@winterfern4881]

I'm glad you did well and happy for you. For me I would start another business not to chase money but because I need something to do that's fun I can't just sit around for long.

[@jeffb.140]

Ever since I passed the 500k mark, I felt completely free and basically retired .. I agree with Tate that once you have the money, a lot of the stuff you thought you wanted, you don't actually want. Most gadgets end up owning you anyways, instead of you owning them.

[@-Ordinary-Average-Guy]

As you age, what used to be important in the way of material items no longer matters. My family is really the only thing that matters to me as I get older. Even traveling has become secondary to me now. I find it a big hassle, especially when you're being treated like cattle going and in and out of the country.

[@RobertaKC1]

I can live on $500,000. Since I am approaching 80yo, my only concern is an illness that could quickly eat up my savings.

[@Beachlife4567]

Yep $500k per year is definitely doable!

[@growlith6969]

​@@RobertaKC1great point, one of the main reasons I'm looking at a second country is health care cost as I age.

[@mithrandirthegrey7644]

You need either billions or nothing. If you learn to live with nothing you can go chill on an island in Malaysia and work as a part time scuba diving instructor for a few months a year and just chill the rest. Or you need billions that you can shove in different banks with 20 different passports.

[@valuetraveler2026]

You can be free on very little but you must free your mind first.

[@michastankiewicz9966]

can this freedom get me lobster sandwich whenever I want ?

[@jeffb.140]

@@michastankiewicz9966 you're such a victim

[@valuetraveler2026]

@@michastankiewicz9966 ok 👌 if that is the way you love good luck to you

[@johnq.public2621]

@@michastankiewicz9966 Not with that attitude/mentality, no.

[@SdotThompson]

@@michastankiewicz9966 Yes, if you move to a coastal city where lobster is abundant, get yourself a small boat and set some traps. You can't get any freer than that.

[@crinsb]

There's a Charlie Munger quote that I have to remind myself of whenever I feel the need to take risk: "It's foolish to risk what you need in order to gain something you don't need" Risking and gaining can be addictive but it's important to know when to stop, to change mindset from growth to conservation.

[@Austongold]

Nice

[@sznikers]

Dunno, when you already got to the point where that advice can be applied you already can handle your finances well enough to not need advice from quotes. Meanwhile those who truly need some guidance with their finances have nothing and will have nothing forever unless they start investing (which means taking risk).

[@aaacl08]

Indeed! Thanks for sharing this quote!! 👍👍👍

[@mjmf1430]

@@sznikersI think he meant taking lesser risk than no risk at all.

[@James_36]

@@sznikers plenty of rich people go broke so this is not true either

[@IMadeOfClay]

I will be retiring in 2 years at the age of 44. I will have just over £1m (sterling). I will collect around 5% yield from that and I expect to make a few percent capital appreciation also. There is no way the average person can't live comfortably off that amount. I won't have my own private jet or exclusive memberships to VIP clubs or stay in 5* hotels whenever I feel like it but... I couldn't care less about that stuff. I am blessed that I have never had a desire for useless material things. If you care about those things, then you are trying to keep up with the Johnson's. For those who have many millions, that's fantastic and I'm sure they worked hard to earn it and they should indeed enjoy it. But you really don't *need* that much to live a comfortable life. Just put me in a place with nice weather, give me a good book to read and I will be sorted. I think the happiest people are the ones who don't care about material things. I can't wait to retire to SE Asia. I'm fed up with British weather!

[@paulgates4083]

hi i'll be the same next year, can i ask how ur investing ur million for the 5% yield? thanks

[@DevineOne]

Same. see you in Asia. My house if let would get 5% and short term money market with vanguard currently makes over 5%

[@IMadeOfClay]

@@paulgates4083 Stocks. I don't do bonds. I also own a fair bit of gold and some silver, which are doing well and look set to do very well in the coming years. I own good companies with little/no debt so even if there is a recession or crash, my stock companies won't go under. The stocks are mainly from the UK but I have exposure to overseas stocks also. Good luck.

[@IMadeOfClay]

@@DevineOne I contemplated renting out my house but decided against it. The UK government always use landlords as scapegoats and the laws lean more and more in favour of tenants. It's just easier to do stocks. I can do it from my computer and it's 100% in my control. Good luck.

[@DevineOne]

@@IMadeOfClay I agree and most likely will do the same.

[@KennedyVerbruggen]

The most popular investment portfolio strategies include diversification, where you spread investments across different asset classes to manage risk. Another is the growth strategy, focused on capital appreciation through high-risk, high-reward assets. Income-oriented strategies target regular income from dividend stocks or bonds. Finally, there's the value strategy, seeking undervalued assets for potential long-term gains.

[@NorthCarolinaForward]

According to Warren Buffett, dividends are less valuable for growing businesses and more suitable for established ones. Investing in companies that offer dividends might be seen as parking capital for steady returns, especially for those relying on portfolio income. This approach resembles bond investing, serving as a means of generating consistent earnings.

[@Tanner-c2m]

Given the market's uncertainty, I rely on an investment advisor for my daily decisions. Their expertise in long and short strategies, coupled with risk management and exclusive analysis, ensures substantial returns. Amid the pandemic, I've gained over $1.5 million through subsequent investments, benefiting from their approach.

[@brantheeskimo]

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

[@Tanner-c2m]

Rebecca Nassar Dunne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@SavannahMitchell-b3d]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@waterfoker8558]

To be honest, you can achieve 100% freedom with only 250k. I'm living proof. At 5% that's 1k USD/mth. This pays for all essentials in many countries. Of course you don't get to go on random shopping sprees or luxuries or fancy dinners, maybw occasionally, but its 100% doable. This way you can focus on making more money on YOUR TERMS.

[@YogaBlissDance]

Thank you! I feel like he is trying to literally scare us. FOR NO GOOD REASON.

[@keywestalert6329]

I expect inflation to increase by 50% before I retire. I need much more than $250k because I need a cushion. The number I am going for is $1m because that's $50k/yr @5% DIV. So, about $35k after taxes. Fortunately, my retirement age will be 50.

[@marosszeki]

@@keywestalert6329 use bitcoin as a hedge against inflation. put your 250k in BTC and watch it grow over the years, while others drown in inflation.

[@msbeecee1]

In Ecuador, the bank CD's pay 10%. I wanna make $2k/month to be more comfortable

[@maxt1617]

Fully agree @waterfoker8558. The key here is that whilst $250k is not a huge amount, it is 1. highly attainable with some diligent saving and investing, and 2. whilst we still need to earn money (and grow that capital), the freedom to choose how to earn and the lack of worry if it isn't even covering all your monthly costs, that freedom *feels* like retirement. People think too binary black and white with retirement, when the hybrid version of growing of a smaller pot and a pleasant salary on your terms is almost like retirement, but without the downside worries of 'is the pension pot enough?', 'what do I spend time on now?' 😊

[@CuBixxx86]

Trying to get my online hustle off the ground so I can work anywhere. I'm not materialistic, I don't care about fast cars and watches, I just want some quiet place somewhere where I can work on something fulfilling, keep in shape, enjoy nature and maybe grow some food. My first hurdle is earning enough to leave my employer of 15 years.

[@DavidPaulNewtonScott]

Portugal

[@user-Old_Ben]

@@DavidPaulNewtonScott - Portugal is changing (mainland), I hear, though it can be great - depending. I mean Portuguese is kinda close to Spanish/Castilian. Portugal has some great N Atlantic islands too!

[@suzannaatkinson485]

@@DavidPaulNewtonScott

[@andrescv2665]

All depends of your lifestyle and the country you want to live. 1 million is low for countries like US because of taxes, real estate, healthcare. But there are many countries where 1 million is good retirement.

[@Sbww152]

One million in India would get you a very fulfilling retirement. If you live on rent then one million you will be able to basically live an amazing life indefinitely

[@2736492821]

that's one of his main points

[@aarohivijh]

The US has some of the cheapest real estate in the world.

[@richlandzee8686]

What he said about Malaysia is true except 1 thing, if you hate florida weather, you will also hate Malaysian weather because it's a tropical country. I'm Malaysian living in US currently who visits home once a year. Foreigners, especially Americans, can retire like a king due to the 1:4.6 exchange rate. I estimate you can literally rent a luxury condo in Kuala Lumpur for USD$600(RM2,700)/month. Malaysian food is one of the best in the world. Western food can be pricy but you can easily find it if you miss home cuisine. NC needs to clarify whether the 5M is for singles or for a family. For me, 2.5-3M is a comfortable goal to reach.

[@richlandzee8686]

@-pg6767 - Look around. Obviously KL is a big city so older properties and location is key. Compared to US, not even close to what you get for $500.

[@carmelanorth2917]

2.5-3m in US or Malaysia or anywhere?

[@richlandzee8686]

@carmelanorth2917 -USD$1=RM$4.6M as of 2024. Typical Malaysian salary USD$15,000/year or possibly less. Prices are getting more expensive each year as well. You do the math. I was referring to the video content. Ultimately, USD$5M for singles is much easier to manage compared to a family of 4. Kids are expensive.

[@CannyValley-bi8nq]

Can you recommend a website for that condo? :) Asking for a friend

[@joe_7726]

I could live on 5% of 500,000 capital in many places in the world. I've then bought my time back from employment and that's valuable...start an online business and invest. Whilst I'm giving up time for a salary and paying max. tax on my time-earnings, I'm trapped. No time and working to pay for a place to live/car etc., so I can continue to work. A vicious cycle.

[@sznikers]

5% drawdown is ridiculously high, one market crash + inflationary period and you're done with so little capital. Most people will live through way more than one market crash and will be squeezed more than once by inflation. Just count through how many such disasters your grandparents lived.

[@Sbww152]

I know Americans retired in Goa India who are living it up with just 3k usd per month in amazing houses, help, friends and good food and healthcare.

[@zeytelaloi]

​@@sznikers There are many in the world with real estate they put 500k into with a 5% yield.

[@user-xg6yc8ho3w]

@@sznikers There are many countries around the world who's banks offer interest on your savings accounts at 5-10%.

[@shim6057]

​@@user-xg6yc8ho3wHow safe are those banks to put your money?

[@searlearnold2867]

I remember Patrick Bet David said that $10 million would cover a lawsuit and allow you to start over if you lived in the US and had the misfortune of being sued for basic things that insurance could cover (car accident etc.). Pretty good reason to secure yourself, your family and your money outside the US.

[@MTN99999]

For my current freedom number is 3 M. I am half way there . Wishing you all the best on reaching your goals

[@Jim20255]

How did you do this? Well done

[@michellem3879]

You can live on $25k/year if your home is paid for & is modest enough to have low RE taxes & are content to never go anywhere. So, like you said, the amount you “need” is determined by the lifestyle you want. Even at my lower middle class income level, you have to figure that out. And as much as AT turns my stomach, he’s right, there’s only so much “stuff” you can buy.

[@dongshengdi773]

Yes. Happy ending in Thailand Philippines Vietnam is only $50 . Twice a week means only $400 a month. $1000 a month on food $600 a month on rent . HEAVEN .

[@seymorefact4333]

If you paid off your mortgage, no car note... you only need $558 Million! The USA ponzi con-my prints endless fiat dollars. You will need millions to live poor. Fake dollar is worthless I would rid of all the deadweight family and friends. I'm retired and work part-time for the cartels. I bring cash home of $50k per week (CASH) working 2 hrs a week as a driver. Also, add 2k /mo from social security. I can work more hours but the risk is to high. Plus, I don't need an expensive car or home. I look poor and this brings less attention. I get a massage w/ a great ending from my girlfriend after dinner at Qdoba several times a week. I don''t drink or smoke. I do sleep w/ one eye open and an ar next to me! Keep your expenses low!

[@OmarOsman98]

@@dongshengdi773How does your bill come to $1,000 on food? You must be eating out alot

[@-Ordinary-Average-Guy]

The nomad capitalist hasn't mentioned any pensions. He seems to take for granted that we all have a couple million socked away, which some, in fact, do. But he's speaking to only the 1% of the people who actually have $5 million in investments. I'll be worth half that at retirement. I'll also receive two government pensions as well as a union pension. I will live comfortably on that.

[@dongshengdi773]

@@OmarOsman98 $1000 , I eat out only. I'm lazy to cook . I don't know how to cook . Although I know how to use a Magic Pot and a Rice cooker.

[@pentrubarbati]

for many people normal people 500k 1 mil at 10% roi per year is enough if you move out of the shit show named USA Canada Europe Australia ...so basically livingin in Mexico South America Asia Africa ...

[@jeffb.140]

Exactly! Good capital allocation means going where you get the most for your buck! If you're a slave to your location then you'll never be free anyway!

[@tomstock9546]

You just admitted you have never lived in those countries for longer than a typical holiday. You will be up for a bad surprise, buddy.

[@pentrubarbati]

@@tomstock9546 do You even travel or You just belive all You see in the media ...

[@temujin1970]

I am heading to Bali . Building a couple of villas, one to live in and one to rent out with an avrage ROI of 8%. I am building a new business and will use Bali as my base from which to travel around the far east. Cant wait. London has become...if you will excue my language a s**tshow. Dirty, expensive with failing infrastructure.

[@BertrandDussert]

For me, I’ve always thought $10M is a multigenerational moat against financial stress, but $100M is truly where incremental wealth doesn’t do much. $5M is OK, but $8-10M means a much better lifestyle. $5M is you never fly coach, whereas $10M is you can hop on some shorter private flights and fly Etihad or Emirates international first class. $100M is you charter a G650 for a long haul flight. $1B means you buy the G650. Good content.

[@doctorale84]

With as little as 10M you fly a family first class every time?

[@BertrandDussert]

@@doctorale84 $10M in net worth, sure. Assuming you don’t have $5M of it locked in as equity in your primary residence.

[@BertrandDussert]

@@doctorale84 PS, assuming you also still have an income. If you’re purely living off the investments, you might need to be a little selective.

[@doctorale84]

@@BertrandDussert OK ya. I don't consider primary residence as net worth, more like a liability!

[@palnagok1720]

Next lifetime

[@stiffeification]

I need about 2m, that's enough to live pretty much comfortably anywhere in the world, drawing down 4%/80,000$ with stocks/bonds.

[@markbernhardt6281]

Beware of moving goalposts, I used to believe the same thing.

[@Fhsjajwvhqajdbwh]

@@markbernhardt6281 what changed your mind?

[@Rjcuatrocinco]

​@@markbernhardt6281 This is what I'm afraid of. I've reached mid 6 figures but now I'm eyeing 7. It never ends. Problem with being human.

[@richlandzee8686]

I see it slightly differently. $80,000 Pretax or tax free? Also I do not count my primary home in net worth calculation.

[@stiffeification]

​@@richlandzee8686 tax-free assumption. In some countries it may be stretching it a bit and this assumes being a single. But even in expensive european countries this is a lot.

[@leandrosamos]

Watching this with $110 in the bank.

[@Melior_Traiano]

People are sitting in the shade today, because someone planted a tree a long time ago.

[@ismaelsegarra7345]

😂

[@TimothyGarrett-mi9wm]

Same

[@TimothyGarrett-mi9wm]

Thankfully trees last a long time so we dont have to plant one.

[@annieholbis2430]

I have even less 💰, but I DO have 3 passports and I've lived in about 5 different countries anyway!

[@tsuisunyu]

my friend is an arizona resident , and recently he is paying 25% of his gross income for only 1 child for child support, and on top of that 28% of his income goes to pay the american federal and state tax. the system is design (in america) to keep every man poor.

[@tamaralosangeles]

To support your own child is a must don’t you think? to keep that child alive and 25% isn’t enough IMO

[@BOULDERGEEK]

One reason why, as an American male with honor, I got snipped so I wouldn't be in that situation.

[@badboi6332]

You think the US wants to keep you poor? Try Europe instead. Like Germany, Belgium, Denmark, Italy... If you earn smtg above 60k before tax, be sure you'll have a 40 -60% tax rate....

[@InvestgoldUK]

It is designed to keep every MAN poor, yes. You can never win or get your kids back, he should consider exiting the USA

[@AMDIndianapolis]

he created the child

[@teacher_martin]

My target was $1m then 2. I'd already divested myself of ALL Canada assets in the '90s (including stored winter clothes, credit cards etc). I was designated by RevCan/CRA as a 'Canada tax non resident' and charged a penalty accordingly - making it official! Thanks RevCan (but i still dislike you!!). It's important to get advice, be careful, be resolute, and meticulous. Fortunes may come and go so adapt. For me that's a life in Asia. Spend the time, study. Learn the language/culture. Make friends. I've got less today than my initial target (which i set in the '90's) bc, simply, life happens. But today I've got income, + passive income, and I bank a bunch. Life is good. Once I got outside of Canada I saw it didn't have to be that way. It was sunny and 36˚C today (in early May). And I like it hot! Good video Nomad Capitalist.Good luck everyone!

[@user-gl9iz1bp1r]

Retirement is cash flow and opportunity management. #1-Tip - keep your overhead low, low, low. Been retired of five years - yet to draw from investments. Pension, State sponsored annuity, Social Security, and rental income provide cash flow - with a positive cash flow of $2K a month. Stay healthy.

[@JohnDelaney-f9h]

…altogether, one of your most outstanding video contributions Andrew.

[@theprogen2003]

5 million is “fuck you money” - you don’t need to make decisions based on income anymore, can take time off if you choose and a middle/upper middle class lifestyle is secured. Great safety net. 10 million is enough to retire and maintain a basic upper middle class lifestyle in perpetuity. 20-30 is “rich” and you can life a luxurious lifestyle in perpetuity without drawing down principle.

[@orionvassi]

Another great topic. I'd spend about 80 bucks on a party night in Bangkok and even that was too much for me. For $2500/mo you can get all you need and more.

[@DaveWi-zs4yv]

There is a freedom that has been alluded to- it comes through knowing oneself and what is it that is wanted from life and where that best situates. Thanks for dropping knowing

[@playbooksessions8325]

Depends on your expenses… if you live in Thailand and spend say $40k/year, you could have $500k invested in S&P500 and live off the returns

[@The.Harsh.Truths]

$500k is really light for drawing $40k/yr. One big market crash and you’re done. In fact, if you put that in a retirement calculator, your odds of having your money last more than 20yrs is probably very low over most historic time periods on S&P performance.

[@RussellMKay]

I retired at age 59. Lifestyles dictates budget. You can live very well with piece of mind.

[@iTuber012]

Honestly if your home is paid off, you can absolutely live off $25k in USA. Things would be tight but it's very doable... No vacations, no splurges no luxuries though. Your biggest expense is property tax likely... Overseas this could go much further. This is before social security

[@richlandzee8686]

Half correct. Insurance is another item that is skyrocketing. My last claim was 9 years ago for hail damage, and now it's almost to the level of my property tax. This is insane and I live in a middle income neighborhood. Forgo the coverage since your house is paid for, you say? Not for car insurance, and you'd better find out how much it costs to replace a roof after hail, tornado, hurricane damage. Pick your poison. I pray this is the peak and prices will go down from here.

[@OmarOsman98]

If your home is paid off, sell it and use the profits to invest in bonds or stocks. Move to another country

[@JABINVA]

True, but my house is paid off but is valued close to $2 million. If I travel, I have to pay for lawn care and other things, taxes, insurance, lawn care, electric and other stuff adds up to over $30k a year plus heath insurance. It’s about $44k just to wake up in the morning, not including food and other expenses, and I have zero debt. It’s insanity. I contemplated selling but am going to try short term renting and building myself a smaller house on the property.

[@OmarOsman98]

@@JABINVA At 5% interest or return, youd be getting 100k a year without working on that $2 million. If you live in a cheaper country you can live like a king and invest a lot of that money into the local market

[@YogaBlissDance]

@@JABINVA Your lifestyle sounds a bit bloated, if your house is that valuable downsize or get a house where you can have tenants that give you income and live in Thailand or many other lovely countries. I honestly can't contemplate 44k just to wake up....Have you ever watched minimalists or those who do live a simple life? If it's the life you want, then fine but it doesn't sound like you are happy.

[@AlliedAgnosticAlliance]

For those commenting that you plan to withdraw 4% or more of your net worth per year during retirement: unless you want the size of your nest egg to depreciate versus inflation, you need to withdraw *less* than the amount that your average return rate is exceeding inflation. Back when inflation was 2% per year and stocks were returning 10%, 4% withdrawal would have been fine, but now that inflation is much higher, this is no longer a safe bet. Beating inflation by 1-2% on average is more realistic, so a withdrawal rate in this range is less likely to leave you poor later in life, especially if you retire young

[@growlith6969]

Such a good channel. Even if I think a title topic spunds non applicable or boring I always get a nugget of knowledge that makes it worth it. Also, much like watching a video about organizing making you want to clean up and organize, videos about wealth take the concept from abstract impossibility to common sense average and attainable.

[@nomadcapitalist]

Wow, thank you!

[@MKJ16]

My number is $ 1.000.000 I don’t need fancy cars, diamond watch etc. I just want to retire and live in a beautiful place, low tax with a government that is not influenced by the WEF

[@Claudia-yd3dd]

Russia?

[@component9008]

Watch ordinary things video, the WEF doesn’t have that much influence.

[@bespokefit]

A million isn’t nearly enough. Your healthcare will cost 70k a year, easily. You’ll run through that money in a decade. Maybe less.

[@davidheipel2934]

​@@component9008 Look at all your investments fine print ESG that's a w e f program.

[@sharonotwoma6085]

​@jamyDodger you can easily and comfortably retire in kenya and even buy a spacious home with less than 100000dollars and live off your savings for a life time

[@MagnusAzul101]

Gaborone, Botswana first class services and amenities. Solid government and currency. Economy robust. One can retire there on $2mln max. The quality of life you will lead surpasses what most countries can afford. Same for Kenya.

[@martian9999]

yes, but who with 2 mill would want to live in Botswana? I'm not knocking the country, I'm sure it's lovely, but it's kinda like saying "all you need is $1 million for a great life in Papua New Guinea"

[@Ctrl_Del_0]

I fully agree with Laery when he says it i all about life style. I don't need gold and diamonds and airplanes and yachts. For me a simple place, not being bothered by the government (to0) much with food and warmth security is most important for me. A simple small house, a simple ford in front of the door, that is all good enough. I think in this respect, even a million could be enough. I am not the youngest person anymore so I don't feel the need for gold watches anymore either. So it is all very personal. For myself, security is key.

[@kevinstrong7520]

Greece is very appealing on a retirement visa, flat tax 7% for 15 years AND you can continue to work as long as the income is outside of Greece.

[@ndboulder2210]

What's the tax rate in Greece after 15 years? How many months do you have to live in Greece for the retirement visa? (Is the retirement visa the same as the golden visa?)

[@kevinstrong7520]

@@ndboulder2210 fair question but does it matter? lol 15 years brother. You can always go somewhere else if it is a tax burden. Foreign countries are ALWAYS changing requirements so why not lock in 15 years and not try to predict the future.

[@brooklyngemini3410]

They beat Americans to death and nothing happens....or maybe just black people

[@JA-he2qz]

that is interesting, would you mind sharing a link on how to set this up in Greece? I'm an EU resident, does that matter?

[@randomguy2809]

If you get 2 million at 5% ROI that's 100k a year. Assuming you have your house paid off that's around 6k a month. You're not set but that's relatively comfortable at least.

[@searchersearcher8286]

Ditch the house all u really need is shelter...one million more than enough

[@randomguy2809]

@searchersearcher8286 IDK man then you're subject to rent going up over time.

[@neonomad1939]

​@@randomguy2809Property tax, insurance, cost of maintenance going up as well. Outside the US its different though.

[@randomguy2809]

@neonomad1939 I mean you're right, but that's still a tiny % of rental costs. My property taxes for the year are just over 2k, for a 250k house.

[@searchersearcher8286]

@@randomguy2809 then ditch the rent, there's always an option

[@abdulrazakbendjema9778]

5% of 2,400,000 annually is my ultimate life goal.

[@klum03]

i see what you have done. $10,000 a month is perfect because you can live a good life nearly anywhere AND save a good amount. I would want to feel comfortable saving a few thousand every month

[@Elliott_Wave]

Bingo!

[@markbernhardt6281]

@@klum03 It's a strange way to think about, drawing from your savings so you can save some money, it's no different than not drawing it at all. But it's the mindset we are wired for most of our lives. I am in the same boat as you, I would rather save money and buy a car guilt-free after saving for it instead of fretting over a large deduction from my nest egg.

[@abdulrazakbendjema9778]

@@klum03 Its all because I have expensive hobbies 🫠

[@eddiemalvin]

We're at that number right now and, thanks to inflation, it doesn't feel anywhere close to enough.

[@robertbandusky9565]

1.2 million has worked for me. Living of this amount for years, without touching principal. Earning 4.5 percent and I have no debt, and drive older cars. Very comfortable 😎

[@autumnlynn]

Nice job 👍

[@Jim20255]

Beautiful stuff; did you build most of your wealth in stock market or something else?

[@FTHurley]

I think the $500k number is actually pretty good for the point he was making, which is that the number is always going to vary based on the lifestyle you want. If you're 50, in good health, and aren't interested in lots of material goods - if you own a small home in a low COL place and are content to pinch pennies and eat simply in exchange for going fishing everyday, you can probably do it on $25k/year. I don't think many of the folks subscribed to NC are looking for that, but there's nothing objectively wrong with it. It was just an extreme example of why it's hard to name a single number.

[@adamselectricuniverse]

THAT'S IT... you can argue with just about any point you like, but no one can argue the opportunity cost of paying 40-50-60% of what you make to the government versus re-investing that money into whatever you are doing to build wealth. If tomorrow, the US secured its borders and began charging $100,000+ for citizenship like the Caribbean (largely tax free) countries, would there be many takers? I doubt it.

[@neonomad1939]

There would be tons of takers from the usual suspects. Ease of travel and a strong brand name carries weight..

[@Austongold]

The 30k passive and your social security added to it is doable, maybe not the italian suit life but it will buy all the bait you want and the pier fee 🌴

[@laurayale369]

No one needs an expensive suit, etc.

[@Bigmoney333]

I need about 20 million honestly. To be able to invest how I want and live in different places , dress nice eat well and have different coaches for different things

[@ToniGromann]

You „want“ but don’t „need“ this money or lifestyle

[@Bigmoney333]

@@ToniGromann no I need it

[@jsnow6925]

@@Bigmoney333 How much do you have now?

[@Zara-T_780]

@@jsnow6925*cricket noises*

[@longlostkryptonian5797]

I could do it on the 5 million plan but only because I have simple needs. The main being my wanderlust.

[@jhonperegrino5636]

It’s definitely a personal thing. If you don’t have family, or a big ego and are willing to live a simple life in the right place, you don’t need much in a bank account as long as you have a monthly income. It’s a mindset. We have been sold a bunch of bs here.

[@rubayyatkhan]

Good content. However to get to $10M which will then provide 5% return, it’s not doable for 9-5 white cooler job holders. To get to $10M you’d have to own business, invest that profit in stocks(index funds, mutual funds, bonds etc) and invest part of it in rental real estate (tax advantage, cash flow, depreciation, appreciation etc). This video was for folks who own profitable business which in return pays that 5% yearly income to live on. I don’t think anyone making below $100k blue collar job can even relate to this content. Good review though on Kevin and Tate’s strategy.

[@TheColdViking]

5 million gives at 6 percent gives in reality half, because you need to beat inflation as well, and only then you can say what you make on it, and that is 150.000 USD, or 12.500 USD a month. Its quite alot, and i would say that you don't need that much to be free. If you have made 500.000 USD, you can retire, your not rich, but you be okay. I would say 1 million will give you nice freedom. But that's only if the goverment dosen't smash your income with a wealth tax, because 1,5 percent wealth tax is destroying your life quite a bit and that's the problem Norway has.

[@humpteedumptee8629]

I’d say 3-5 million. The 500k thing sure in theory is possible, would be a nice starter pack. But the idea of true freedom is not to live a marginally better life than a McDonald’s worker.

[@James_36]

im glad you think a general mcdonalds worker earns 30k a year which is what I can pull on that kind of money at least with hardly any risk

[@humpteedumptee8629]

@@James_36 well McDonald’s workers make about 20k. Which is enough to not die. I said marginally.

[@James_36]

@@humpteedumptee8629 10k is a big difference and their general works don't make 20k here in my nation - the managers are only on 25k

[@douglasalfseike3867]

If freedom is a state of mind, then zip, zilch, nada.

[@RonSwansonIsMyGod]

It's not...

[@TheSoaphippo]

Sleeping on park benches gets rough after 60

[@martian9999]

as the Swiss say, "it's your wallet that needs to sparkle, not your car or your home". You need good amenities and nice surroundings for a low-stess, quiet, free life. Some so-called FU money helps, too. But beyond that, $1 mill should really do in most places. (No, that does not include Switzerland...)

[@OmarOsman98]

$25k is good in many countries. $2k per month. In Egypt, you can get a super nice apartment for like $300 a month

[@feoxorus]

Great. You can live cheap in Egypt. You can live cheap in Somalia or Pakistan too but that doesn't make them good places to live.

[@OmarOsman98]

@@feoxorus Depends on how you define “good place to live”. Egypt is really cool, historical sites, and safer than any place in the West

[@MarkoLopo-h8c]

Yes of course best,but boarder conflicts with ,east countries ​@OmarOsman98

[@OmarOsman98]

@@MarkoLopo-h8c Yeah it doesn’t really affect the daily life there. Anyhow, my point is that $25k will carry you for a year in a lot of countries. Egypt, Colombia, Ecuador, Morocco

[@samanthathompson9812]

Egypt isn't a happy place for women

[@TheSharkBand]

Thanks Andrew - one of your best videos to date by far

[@TheMichaelMove]

This is mostly dependent on how much money you waste on needless spending

[@braziltokyoschool]

From $ 10 million on, you're free. In my country (Brazil) where the interest rates are 12% per year in last three years. Inflation here is 5% per year.

[@DarrenUren7]

Those interest rates are attractive.

[@tamaralosangeles]

17% in Russia 😂

[@MM-rl1fp]

26.5% with bonds here in Zambia

[@mich_mash]

yeah but inflation is proportional in all those places so it generally nets out

[@braziltokyoschool]

@@mich_mash Inflation in Brazil is 5% per year for decades. So 7% per year profit.

[@robertbandusky9565]

Azhar in Bogota was great recommendation. Terrific food and drink Pepper beer was different, but tasty! I will return 🇨🇴

[@laurayale369]

I never really became a materialist raised by parents who lived during the depression. At retirement I began the minimalist stage of life, giving away my stuff and thinking very critically before I purchased anything. With a lifestyle like mine, a person can live very comfortably almost anywhere on $500000 a year. In my case I do it on $250000. The trick is to live life don't show off.

[@conq3097]

No offense, but if you need to live off $500,000 per year, you're probably not a good minimalist 😂

[@kadenfraser4525]

half a mil a year and you think your a minimalist ?? the rich are soooo naive when it comes to this and no idea what most have to actually live on . i retired with 1.6 mil and am doing fine in Canada .

[@Rjcuatrocinco]

If you said $500,000 total and not $500,000 a year this would make sense. That's top 1% income in America in case you didn't know lol.

[@brettpower6508]

I'm sure he meant 50k and 25k

[@martian9999]

I think you meant to say $500k net worth. In that case, I agree. A quiet life with few posessions but much freedom -- if that's for you, then it can be done with half a mill, easy.

[@jwt871]

There are plenty of places in the USA where you can live on $25,000/year. I know because I'm doing it right now. I'm only 52, and I'll have more income in the future once retirement funds become available, but I'm retired and living on $2,000/month right now. Obviously it requires having a home that is paid for and that is modest enough that it has low taxes and insurance expenses, but it can be done quite easily if you live in a low cost of living location.

[@martian9999]

now, where would that be? Illinois, or Wyoming?

[@kerrydesilets4226]

Agreed. My husband and I are living off of similar income in northern Ontario Canada. (Used to be) low cost of housing and insurance made it affordable for us. We are looking to leave because it is becoming way too expensive.

[@shawnjordan2716]

agreed. my parents are on $2k/mo. In flyover state.

[@SeanOHanlon]

Sure, if you don't mind living in the middle of nowhere.

[@hazabazza7425]

The Prophet Muhammed PBUH said: If the son of Adam owned a valley of Gold, he would yearn for another, for nothing fills his mouth except dirt (when you die and are put in the ground)"

[@befree9579]

Yup SubhaannahAllah True

[@thinkagain2229]

❤❤❤❤

[@bootsmade4walking]

SubhanAllah

[@eightsprites]

How about sell that valley of gold and buy a super big farm. Employ a lot of people and feed a whole country. Probably could pay people in gold too. I dont know but either being the farm owner or worker sounds really good to me. Feeding my family and get good paid for it. Point here being, a pile of gold might be useless, but what you can do for it can help a lot of people.

[@MrJasez1973]

It’s totally dependent on your situation, and mid to long term goals. Please do an episode where you take into account children (young school going) and long term places to stay to create legacy.

[@samanthathompson9812]

Where do I get 5M? I work for the government in essential local services. I make less than 80k. And I'm old. Oh well someone's got to make sure the drinking water is safe.

[@impyrobot]

Start a consulting firm specialised in testing drinking water. Solve a problem in your field and capitalise on it. You can't make serious money until you start a business.

[@rclose23]

Figure out a way to live with family for 3 years at $500 rent a month and be frugal. After 3 years, you could easily have $150,000 in the bank.

[@temujin1970]

As so many of the commenters have mentioned. Once you have passed the 1 to 1.5 million mark you realise that all the stuff you thought you wanted does not really bring you any real pleasure. In my therties while I was in the process of building my wealth I did chase these things. Expansive clothes, cars, lots of international travel. Untimatly I realised that it was all empty vapid materialism. Tate was right in that regard. I have more clothes that I even wear, watches, cars etc. I have stopped chasing those quick fix's and focused more on experiences. Spending time in brautiful places, experiencing different cultures etc. I am now building a new business as I love the process of boot strapping something from scratch and am also in the process of moving permemently from the UK. The far east is where the majority of the worlds future growth will be with Africa also growing rapidly. I am in my early 50's but I am fit, healthy, athletic and love keeping my body in good shape. Life is good.

[@-Ordinary-Average-Guy]

I guess this video is for the 1%ers. I made a promise to myself that I wouldn't work a day past 60. Well, 60 is coming up fast, and although I don't have $5 million, I do have enough money set aside for myself and my wife to live on. Having no mortgage is the big one. My Pensions will definitely help out after I have drawn on my retirement investments to live on before 65. Life is only as expensive as you make it.

[@daniel-w5g1u]

Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%.. Wondering if they're any short term opportunities I can invest in..

[@RaulDiaz-n9t]

I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience. Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.

[@daniel-w5g1u]

Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?

[@RaulDiaz-n9t]

Gabriel Alberto William is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@daniel-w5g1u]

He appears to be well-educated and well-read. I ran an online search on his name and came across his website; thank you for sharing

[@rharris22222]

I really like what Kevin O. says about the purpose of the $5M. "...and your family. You can take care of a lot of people." Darned right. You get to be 60 years old, watch a few friends die, get a cancer or heart disease diagnosis, you probably get a lot more perspective on people vs things and activities.

[@gugy68]

One of the best things in life are the memories you make. So collecting objects are not that. People and seeing places is that. I love to travel, see new things and learn new perspectives. Helping people is also fulfilling.

[@BOULDERGEEK]

Good friend of mine has an amazing expat retirement life. Nice paid for apartment with mountain views, has owned every car and motorcycle an enthusiast wanted, dozens of beautiful international girlfriends. Relationship with a hottie 25 years younger. More money than he needs. And all of a sudden, metastasized Stage IV cancer. 😐 Enjoy it while we can. No one gets out alive. And your money doesn't mean much in that final hour.

[@James_36]

you guys in these comment sections are on here fantasising your nonsense. It is embarrassing - you think people on here are likely to earn 111k a year net of taxes on assuming that starts from 20 and ands until 65 years of age? LOL this is like small business MD style wages where only below 1% of people earn.

[@rharris22222]

@@James_36 Unless you accidentally replied to the wrong comment, what ought to be embarrassing is your combination of arrogance and stupidity. No one in this comment thread before your reply has mentioned being in any particular financial position. What I did comment on, and what, yes, at just shy of sixty and with active cancer in my body, I AM in a darned good position to comment on is what it means to consider the value things verses people when one’s own mortality becomes significantly more than a far-off, long-shot proposition.

[@jamalgreen3056]

It all comes down to this you have two choices invest in a lifestyle or invest in life experiences.The people who choose life experiences 5 million dollars can last you over 25 years.A person who chooses to invest in lifestyle will run out of money a lot faster since they cannot live without certain things.For me I’ll choose life experiences instead of lifestyle.Your lifestyle will always change since things are becoming more advanced.So for me 5 million dollars for short term and for a lifetime I’ll have to say 30 million.

[@fredjaboobi]

My goal is to have 1.2M and a paid off home to retire at 58.

[@Jim20255]

Same

[@frankyu6984]

5% of $500k is $25k but you can withdraw from the principal if you need to. At 60 years of age combined with your old age pension it can easily be enough. $1 million at almost any age is enough to live off forever.

[@laurayale369]

Totally agree

[@zogjones]

Personally, my number is 3 million. So hearing Kevin say that 5 million was the number was reassuring to me. I’m just trying to live a simple life without any diamond watches. I enjoy splitting wood, keeping bees, playing music, and trail running. I don’t want much more than that. I just want to be independent and self-reliant.

[@nomadcapitalist]

Thanks for sharing!

[@zogjones]

@@nomadcapitalist my pleasure. I realize I haven’t watched this video yet so I’ll see what you have to say about it. Love your stuff.

[@LuisFelipe-tf7qz]

@@nomadcapitalistI’m in that £3-5m limbo. I was shooting for 10m, but the reality is I can comfortably retire now (just turned 50). I’m a fan and have been living my trifecta (Nicaragua, Puerto Rico, UK). I’d love to hear about setting up one of those sexy life-insurance policies you can borrow against until you die ;) On a separate note, I noticed you mentioned Transfer Pricing in several videos. I’m an ex-Big-4 Transfer Pricing guy. I’d be keen to collaborate with your team.

[@CommandoMaster]

You don't need 10s of millions. You can retire off a couple mil just by having it invested, and living off dividends. Especially if u live in a LatAM or SEA - 5% of 1mil is 50k/year - which is more than enough to live comfortably without being overly lavish with private jets and supercars.

[@nikidavis8118]

I appreciate this video and you Andrew. I am not a millionaire, but I am a small entrepreneur and I understand the entrepreneurial mindset. Working is not all about money, for some of us it’s fun and entertaining!

[@knowledgeseeker5499]

Greediness is like fire 🔥 which never ends demanding more fuel, it can eat generations and countries. So more money is never enough for greedy people

[@HeyMr.Johnson901]

Kevin is correct, I have a little over $1.2M in the stock market with 7.3% Roi. I only invest in dividends & a couple option trades for more capital. I use $50k to paid both mortgages 🤷🏽‍♂️

[@electriquenikki]

Yes the 100 million for me would be the ideal marker. That way I can pump money into new startup businesses, scale them to billions of dollars, buy a yacht and have a thriving charity. And regardless of what happens would always be secure financially. Great video.😊

[@カギ]

I lived in Thailand for a year for about $20k. I'm getting scarily close to $1m and I don't plan to retire yet, but I could see myself moving back there or somewhere similarly inexpensive and living off 2% of 1m and letting the rest grow. Unfortunately I have a chronic health condition (ulcerative colitis) which, if it gets worse, could become very expensive to treat and would probably force me out of Thailand. I'd have to either move back to the US and get on Obamacare or see what my options in the EU are (I am a dual US/Polish citizen). In the US I'd need more like $2m to feel pretty safe to retire.

[@impyrobot]

Polish healthcare is decent

[@Damalgama]

Nice to see how you enjoy my city, and thanks for highlighting the beautiful and good things about Bogota❤! I loved watching your video and at the same time, when I see these type of videos, I worry about gentrification. If you are someone thinking about moving to Colombia, be mindful about this, you might think that i,e buying local, eating local, pay rent to a local and paying taxes would stop the problem but it won't, think about the impact it has in local people. Visit, enjoy, learn spanish, but think twice if you really want to move to Bogota (or other latin american countries)

[@sdnalyam]

$25,000 a year will Not get you a retirement visa in Malaysia. Yet this is the amount a lot of people in the West get as a pension or less. Its a prison made by the government.

[@Kristopher-ge7zc]

It's all perspective. Some people are more "needy" and there for need more to live on. While others could feel very comfortable on far less.

[@stevec912]

Seek ye first the kingdom of God.... and everything else will be added unto you

[@zandrarichardson5084]

The kingdom of God is within.😊

[@lukehoeft7420]

I will retire with $15M. It’s more than I need but it could be less than someone else needs. It all depends on your personal number. For me, past about 10M the rest is just legacy building. My goal is to train my kids to use it wisely when I’m gone.

[@manni192]

$2m at 6% yield would be enough for me

[@nastythomashobbs]

Currently in Kuala Lumpur at your recommendation. It is fantastic. Great city. English is widely spoken. Very inexpensive and you could live well on 30,000 USD income a year. Could do that in Bangkok as well.

[@nomadcapitalist]

Very glad you’re enjoying!

[@jancovanderwesthuizen8070]

$2m in the bank s my goal. 6% of that is $120,000 and in the countries I like, that’s more than enough

[@mmmmarada]

If I had that sort of money, I'd never retire. I'd make a company that does educational software apps and teaches kids about the incredible world in all sorts of mind blowing ways. I'd interview people in the tops of their fields about what they would teach children if they could, and illustrate their ideas in technicolor. I can't imagine being so bored in life that you just sit around wondering how to spend your money. Why not do something creative that helps others?

[@danmillard5032]

Because sooner or later, your aging body and brain catch up with your good intentions. The younger generation take over, your family needs more of your attention, and you theirs, and one’s charitable endeavors and giving back to one’s community become more important. Retirement is not necessarily a selfish waste of one’s time and resources, but rather a shifting of priorities bearing these factors in mind.

[@OxymoronicTonic]

You can do that for a lot less than 5m bro 👊

[@peterpeter8217]

Ofcourse Larry does not mean the rich western countries to live in when he is talking about living of 500.000 a year with an ROI of 25-30k a year. But u can live a very very good life with 2000 a month in South- America / Central America / South-East Asia...It's all very personal and really depends on what kind of lifestyle u want.

[@drdellaman]

I moved to Bangkok 7 years ago. I can live very nicely on 50k per year here.

[@cheryls832]

I would think that you could live on less than that in BKK.

[@The.Harsh.Truths]

@@cheryls832yeah by “very nice” he mean buying gogo girls weekly and living in a mansion. Most expats live “very nice” off half that.

[@temujin1970]

50k per year in Bangkok gives you a very very good lifestyle. Half that will still give you an excellent lifestyle. Just stay away from the go go girls. Have your fun and move on. Once they start alking about their sick aunt run for the hills.

[@JohnSmith-ps7hf]

I have only $1.5M instead of 5M. Thank God I am single and live frugally. I don't want to work until I drop dead. I wonder if I can retire soon.

[@ario2264]

you can retire immediately.

[@dennythedavinchi3832]

Fly to somwhere out from North America.

[@JohnSmith-ps7hf]

@@dennythedavinchi3832 Agree. I been thinking about Eastern Europe and Thailand. I like Mexico too, but I don't speak Spanish.

[@madmick4332]

Look into Thailand or Slovenia

[@BOULDERGEEK]

@@dennythedavinchi3832 This is the answer. i spent 20 years traveling when I could. Due to the heavy layoff cycle of the US IT industry, that frequently meant that my one year contract died and I needed to look for another job. I realized I could do that from my motorcycle in Mexico or South America, or from a hostel in Lake Como. Took a lot of research time to find where I liked, with adequate security, culture, health, food, etc. Currently looking out through corner glass windows across vineyards to the high Andes mountains. Spending $2500 a month for two people. At least one bottle of wine a night, filet mignon, wood roasted chicken, great vegetables for nearly free.

[@DavidPaulNewtonScott]

My watch a Cassio cost me £12 I am a retired physics teacher and now financially stable. I got a lift one day from the head of science in his new fancy 4 wheel drive car (in London). Anyway, I thought, "Do you own this car or does it own you?" That's the trick don't let the stuff own you. I build everything myself now and I find I get deep satisfaction from living in a house I built. Consider investing in physical skills, the profit margin is enormous.

[@C0nstellati0ns]

The amount for me is about 6-700 million. Not because I want to buy stuff for myself, but because I want to create services to help others. Freedom for me is not doing nothing, but doing what I want, and I want to help lots of people.

[@SusanC-c6z]

We moved house to live near our grandson. We have a fantastic relationship with him and that's worth much more to us than spending money on frivolities that don't make you happy. As you get older you suddenly stop wanting to buy stuff you don't need and look back over your life wishing you hadn't wasted so much time and money in shopping malls! Great video thanks. I find it fascinating to hear 'how the other half live' and the obsession to accumulate money as though it is the be all and the end all. So long as you have paid off your mortgage then I think the 500k you shrugged off as being way too little to live on, that sum of money is a huge amount if you consider many people have very difficult lives and they should be proud of themselves for their achievement in reaching that figure.

[@rahuliyer7456]

According to Buddha you can be free regardless of the money you have. It is a mindset abd what are your desires. So it is what you define of it.

[@Nabeel27]

I think the $500k is for the single "broke" island-dwelling surfer lifestyle in some caribbean or SE-Asian island.

[@ImthatguyTy]

Great video. You always inspire me to work harder so I can get the hell outta the states

[@MaxwellMax]

With $500,000 you can live quite comfortably on $2000 a month in a place like Argentina or Costa Rica. It's hard to set a round number and set it as the standard because your wealth number depends on what kind of lifestyle you want and where you want to live.

[@seymorefact4333]

If you paid off your mortgage, no car note... you only need $558 Million! The USA ponzi con-my prints endless fiat dollars. You will need millions to live poor. Fake dollar is worthless I would rid of all the deadweight family and friends. I'm retired and work part-time for the cartels. I bring cash home of $50k per week (CASH) working 2 hrs a week as a driver. Also, add 2k /mo from social security. I can work more hours but the risk is to high. Plus, I don't need an expensive car or home. I look poor and this brings less attention. I get a massage w/ a great ending from my girlfriend after dinner at Qdoba several times a week. I don''t drink or smoke. I do sleep w/ one eye open and an ar next to me! Keep your expenses low!

[@shawnjordan2716]

costa rica is not that affordable. 20% less than US on avg

[@ceflex4574]

Tend to agree. £25m is enough to practically have whatever you want and the majority of people can have that with less too. The more you accumulate, the more this sentiment rings true. ‘being able to afford it without having to have it’

[@jmsjms296]

Dream on

[@TheSoaphippo]

I get 4500. A month from 300k in reits, and a 2500. A month pension…no bills except cell, utilities and insurance, i feel rich

[@LeeLiko]

Which REIT are you invested in?

[@TheSoaphippo]

@@LeeLiko arr, agnc, stag and main, last month i sold everything and went to closed calls for everything…

[@texaswoody1]

I think your channel attracts those who need reasonable, if not cheap, places to live,visit,or move to. However, your paradigm is geared toward those who already have enough money, that none of those things matter. It's truly a conundrum! If you could find a way to provide your services to those with more modest incomes, that really need it, instead of those who do not, you could REALLY have an impactful, and more successful business! Thanks for all your effort to help.

[@baronbattles4681]

If God said, “I’ll give you all the gold you want, just name the amount.” How much do you ask for? If you ask for more than 100 kilos you are now immobile unless you are very strong, if you say 100 million tons, you have just put a huge target on your back, you will spend your entire life guarding your pile of gold, you have lost every bit of freedom you ever thought you had? Is that a blessing or a curse? So depending on where you live, who you are trying to impress quite a bit less might be the best option, mightn’t it? Besides what really constitutes wealth, and it isn’t necessarily money, is it? Sometimes it’s relationships, isn’t it?

[@aloksrivastava7938]

5kgs would be enough for most people.

[@baronbattles4681]

@@aloksrivastava7938 Wow! I’m impressed, less greed than I thought, isn’t it?

[@kathyjustice1308]

Thank you so much. I want to start checking places out next year. You are so knowledgeable about different countries. Thank you again

[@nomadcapitalist]

You are so welcome!

[@shawnjordan2716]

Why does no one use annuities? If the goal is a monthly payment… like a pension… get an annuity.

[@NUCLEARARMAMENT]

Exactly. Very few advocate for them, unfortunately. I'm a major supporter, in spite of that.

[@lastmanlost]

I live in the San Francisco bay area, my yearly expenses are approx. $24,000 a year. Housing including utilities etc. is about $12,000 and I am sure we spend less than $1,000 a month on food etc. for the two of us, this is of course no reflection on what we have coming in.

[@TheCherelynnShow]

I like your ideas on how to maximize the income and tax free living. Thank you

[@nomadcapitalist]

Glad to her that. Thanks for watching!