How to Become an Ultra High-Net Worth Individual

[@samowens9015]

A high ultra net individual is a common man who has saved for a rainy day just to reinvest that same savings for another rainy day in the sense that he does not have to go back to that same savings.

[@tamarahudson3612]

I might not attain the so called high ultra net individual but i'll tell you what, i am tired of leaving X sum in my savings.. i need it to work for me.. i have been looking at the stock market but have little know how about it, do you engage ?

[@samowens9015]

@@tamarahudson3612 Yeah, I am CONNOISSEUR of great investments, i love to see things grow My advisor is Lucy Maria koss, You can look her up on the internet if you wish to connect for a better run down, i believe thats the best i can do.

[@tamarahudson3612]

@@samowens9015 Thanks for sharing..i googled her and came across her webpage, i love what i see.. i can tell she is smart.. i do hope she replies me soon though. 😊

[@lingwallace5265]

@@tamarahudson3612 Its 2021 we all should own digital assets.

[@Skaggs666]

During Quarantine 2020, my wife and I realigned our vision. She got her real estate license, we got another property, and now we are looking at real estate in Cambodia. Never thought I’d be an international businessman but here we are lol.

[@msmart2u2]

KMN

[@healthfitness9974]

Nice. I live in Cambodia and it’s a good place to invest in real estate.

[@iawarenow658]

SE Asia is risky not only for fraud in ways you would not imagine but also for your health as it helps if you look Chinese as there is a massive hatred for ''Caucasians'' in these Mongol countries that have no human rights, carry out ethnic eradication on a whim and Genocide so who the hell would want to invest in such a place..

[@GOOBLE07]

Are you blogging about that somewhere? Investing in cambodia sounds crazy lol. I don't trust these third countries.

[@Skaggs666]

@@iawarenow658 I didn’t say I was moving to Cambodia but I get what you’re saying.

[@bartonofarrell3920]

54 ,retired chef at 51 .every single thing paid off .

[@dannytetreault]

Nomad Capitalist: How to Beome an Ultra High Net Worth Individual Key Take-Aways: 1. Focus on the Goal not the Numbers (@07:39) 2. Take More Risks (@10:16) 3. Rely on Yourself (@11:37) 4. Set Targets (@13:51) 5. Increase Your Active Income (@18:52) 6. Save More Than You Spend (@20:56) 7. Live Wealthy Live Rich (@22:21) 8. Diversify What's Left (@23:55) #UltraHighNetWorth #NomadCapitalist #OffShoreInvesting #OffshoreBanking Great video. I first ran into you, your channel and concept through Richard Copper over at Entrepreneurs in Cars.

[@samcarter596]

Thank you. I was looking for this comment

[@JessicaT10118]

Every driven 20-something needs to listen to this. A lot of wisdom here.

[@nomadcapitalist]

Thank you!

[@zachary3603]

Everyone above 30, it's over bro. You have no place for new knowledge xD

[@boonedocksfl2012]

My key strategy was to prioritize getting paid in experience over monetary payment in my 20's. I sought small companies, even with major "flaws" to work at where I could shine early on and get direct influence over top level business decisions, or at least be involved in the thought process, strategy, execution and results. It gave me the confidence to know I could make more correct decisions than not with a company of my own without risking my own capital. In large or more structured companies I dont think I would get as many opportunities so early on.

[@crazylab5078]

How did it work out?

[@alexandermichaelson6663]

Is that more valuable than working at a “name brand” company?

[@jackshutzman5134]

I used to buy homes, take a mortgage and couple years later pay it off and it felt good for a while. Now I actually take pleasure in arbitraging the bank, taking a loan for 1.5% while being more nimble than the bank and deriving higher returns. Once I have the ability to pay it off at any given time (if interest rates go up for instance), I feel comfortable using OPM (other people's money). It's pure fun to see the bank clerks face when they know my account has ten time the loan I took, not fully understanding why I even took it. It is the same as getting a job when you don't need one, you have all the fun.

[@lilacdoe7945]

That's why I finance equipment for my company... although I pay quite a bit more than 1.5%. It's still less than half of what I make investing my money.

[@kcampbell4098]

@@lilacdoe7945 and all those deductions...!

[@Versatilad]

I protest and strongly disagree... You will lose in long run

[@lilacdoe7945]

@@Versatilad are you like Dave Ramsey who pretends not to know the difference between good leverage and bad leverage? Real estate overall has only ever dropped in 2008. As long as OP invests conservatively it is a better use of capital, but if they spend the money or get too speculative then it could be bad. P.S. look at how many corporations have 0 long-term liabilities. There may be one, but I've never seen it.

[@jackshutzman5134]

@@Versatilad John Maynard Keynes said once: "In the long run we are all dead". I have been doing it since 1989 and about to retire in 5 months, get back to cash only (well indexed to inflation), so it has worked for me no matter how much you disagree.

[@faramarzmokri9136]

I want to build wealth so that I can directly and independently save lives of 100 children from poverty and despair. That is my goal in life and that is why I want to be wealthy. Once that is accomplished I can leave this world with an smile.

[@HarithZ99]

I want to grow wealth so that I can actually have control of my life and be able to make decisions without wondering if I'll go broke because of it.

[@marcosoliveira6470]

Open a business

[@particleconfig.8935]

Amen.

[@luxuryvagrant6496]

You should have gone for civil-service, then :)

[@neves69]

Man, this is probably the single most realistic and high quality content on this type of lifestyle/mentality. It's so much more than being a simple libertarian. You are talking about actually taking conscious actions in order to live better, now and in the future. Perfect videos, keep up the great work and thanks for the time you've put in them!

[@liezlsmal9151]

Points that resonate with me (100% believe in this) is: 1. No Debt (actually much easier to get things done and reach your goals) 2. Live Rich (not at the expense of point # 1).

[@zachary3603]

No debt?! Leverage is the ONLY way to get rich. Get whatever debt you can as long as it's at a good rate. (Good rate being the key).

[@Xsephiyy]

friendly tip: embrace (even for a little bit) the minimalist mindset, that will help you stop buying useless stuff that you think you need. you'll start noticing the difference between how much you earn and how much you spend.

[@colinesquire2480]

Agreed

[@GapBahnDirk]

@@colinesquire2480 Yeah, but that can get a bit boring. Watches, cameras, binoculars can be exciting and useful, depending on your hobbies.

[@Ninsidhe]

@@GapBahnDirk in which case they're necessary and useful, which minimalism embraces- the emphasis in the original comment was 'useless stuff that you THINK you need'. Having good use for something fits well with minimalism, otherwise how would individuals cook their food? On a stick over the gas cook top flame?

[@scientificapproach6578]

For me buying stuff is a drag on my energy. After the fun of buying something it becomes an anchor. Cleaning it, organizing it, keeping it from getting broken from the kids, buying a larger house to keep it. Just figure out what you need to do what you really want. If you love boating often buy a boat. If you love boating twice a month then rent.

[@tombanks8680]

The best tip is putting a real number on your preferred lifestyle. Thank you for sharing some of your personal numbers. I would have thought that lifestyle cost considerably more. A few moderately priced apartments in affordable countries would cost me less than 1 purchase in South Florida. You have shown me I am closer to achieving this than I thought. My business is location independent , but still in the compounding phase. Hopefully next year I can leave my six figure job. I'm almost there it is so close i can taste it !!! Andrew , you and the whole Nomad Capitalist team are an inspiration to all of us that are already somewhat successful and on our way to the next level !!!

[@practicallandlording2787]

We "winter" in PR for 3 months for less than 3 weeks at a fancy all inclusive for last 10 years. Once you can stay for a time foreign is pretty cheap. Wage owners on a vaca get screwed big time. Oh 3 bed condo on beach 2 golf courses etc.etc. Big contingent from Hamptons. Yo people with an actual intellect. We are the young ins at 67.

[@DanielCPhillips]

Wow - it was really sobering when you said " You really can't retire on a Million dollars very well" . The idea that you need at least 10 million or more to have a comfortable lifestyle , and not even a particularly opulent one, really brings home how money is no longer a particularly good store of value. Thank you for the heads up!

[@davelawson2564]

10 Million not enough if you want to live the rich lifestyle like him or the top 10%. There are lot of places you can live very well with just 1000 per month.

[@Wolfsheim23]

i don't believe this at all. He apparently doesn't do much research in stocks. A million in stocks, good ones like Amazon, Microsoft, Apple aren't going anywhere and technology is everything now, and this pandemic has really proven that nothing came crash the market for long, so it's easy to have reliable 20% avg returns in Tec and that's 200K a year interest you can live on and never touch the principle. That is a ton of money living most anywhere in the world. Your just greedy if that isn't enough. Even for your family and when you die you leave that principle to them and teach your kids how to manage finance & stock. Compound Interest. Get a few airbnbs with the credit you built and let them be paid off as well

[@Wolfsheim23]

@@davelawson2564 I don't see anything Andrew has that shows he's needing 10 million. He doesn't live that extravagant a lifestyle..

[@moqpoq]

1m gives you 3-5k income a month at best. Add up a 5-10% inflation to your “income” and you will end up with only 1k purchasing power after 5-7years of retirement. 5-10m is a new 1m nowadays.

[@raywatts9883]

Great program Andrew. Here are my own rules: 1. Live on half my income 2. Diversify investments across at least real estate and securities, with no more than 60% of net worth in a single strategy 3. Don't carry personal debt (still paying off my primary residence, but that will be the last recurring debt obligation to go

[@111Econ]

I like Andrew, he has great presentation skills

[@stephenb7704]

He does but I’d recommend against having references to the likes of Dan Lok and Robert Kiyosaki.

[@IkeOg]

@@stephenb7704 🤣. My exact thoughts

[@brigitalarsen7335]

@@stephenb7704 Hmm, ok, but why?

[@mattblah7737]

Agreed, very old school traditional businessman-like. Everyone else on youtube is yelling in my face, begging for likes and subs.

[@garygoodrich1]

What do I think was the best point(s)? Well, several mistakes I made that you mentioned. Number one (and maybe my biggest mistake) paying the banks to loan me money!!! 2. Spending more and saving less. 3. Living in a high tax country and state (USA and California. God I hate to think of all the money pissed away on special interest groups). However, I love all your points in this video, in fact, so much so that I shared it with my sons. Great job.

[@system3335]

Nomad Capitalist is correct at the end of the video - own your place outright and have no outstanding debt and you create an economic floor which allows u to mitigate risk

[@AlexPingu]

What gets on my way is fear! And the thing I learned is that it’s important to take the first step and be persistent, lastly get rid of all excuses by focusing on solutions to most common problems if you think outside the box you might be alone.

[@shakthidhasan4544]

Your inspiration is not your advise but your mindset. Thank you

[@kulls13]

Living intentionally resonates with me the most. Actively shaping one's life and environment has helped me in other areas. So why not business!

[@James-kd1kp]

A great list. I would just add that you need to find and surround yourself with like-minded people since most people are not interested in learning to truly build and maintain wealth.

[@SparkyBites]

He did mention that a bit

[@lilacdoe7945]

Even when you tell them how you're doing it and they can see the proof. It's like everyone thinks, "good for you, but I can't do that."

[@zog382]

This so much this, surround yourself with success and learn everything you can. A day you go without Learning something really is a day wasted.

[@luxuryvagrant6496]

@@momentumstocks3493 Take it easy on the "ignorant", seems harsh. I would go for "Dependant" or "Vulnerable".

[@Durufle68]

where does one find these people?

[@jrb_jr_13]

Don’t be cheap really resonated with me. It’s interesting how that mindset plays out.

[@sekhmet747]

Some people don't get this, when you're trying to reach a goal you will have to sacrifice the things others will easily be distracted by, tend to, etc. My determination and focus lead me to my career, now I can and have positioned myself to be a nomad. Now its just hard work with processes and systems in place that I planned out years ago when I was broke.

[@andydataguy]

Great video! I like these more in depth format. What personally resonated with me the most was focusing on active income. I started my career in real estate as a young man never quite made my stride. Ended up losing everything because I focused so much on passive before actually building a foundation of liquidity first. Now I'm in digital marketing and am focusing on developing lasting skills that generate consistent profits. Just passed 6figures and am now working towards 7figures revenue from my business. My plan is to do similar to what you described about having a strong cash position while traveling the world to find where I'm both treated best and can find the best opportunities to invest money for the longterm (5-10 year cycles). Currently 27 and my target is to be in the USA 1% by 32. Thank you for these awesome videos!! Very helpful

[@nomadcapitalist]

You're welcome, Anand. You can do it.

[@hassanashwas6719]

Everything you said is spot on. I just have one problem, i like making money and my biggest joy is giving it to those who have no method of making it. You could say i like having people around me doing better then me being far from their reach. As you are thinking what kind of plan is this. Well so far ive gotten better returns financially and health just from that

[@cg2860]

Best advice. Pay off all your debts. I was debt free 3 years ago and then I lost it all and had to take on loans. So painful ... so painful to be stuck with loans now again I'm on the way to getting rid of my debt. Great video

[@wetcrow_com]

One of your best videos on wealth building. If people listen to your video, they could become billionaires by actually doing what you say. My kudos to you.

[@nomadcapitalist]

Thank you Tom for your kind words I really appreciate it😍

[@Mychinisfamous]

I was surprised when I told a coworker that I had an opportunity to go overseas this summer and possibly stay after that... Her reaction was a hard-set example of the poor or middle class mindset: "why would you want to leave?"

[@nomadcapitalist]

Very common.

[@owen_nx]

You and Dave Ramsey really make me zoom out and think about the big picture... What kind of life I want for myself etc

[@BelgradeBeat]

I want to grow wealth to change as many people's lives as possible and let them achieve a lifestyle that achieves growth in their lives and greater personal satisfaction by exploring different cultures.

[@tporcheron]

Wealth is what you can do with your money. It is actually selfish to shut down. What you can do for your inner family, What you can do for your external family. How wealthy you can make your employees. Then what legacy you can build. Then what charitable efforts you can make.

[@chrislanejones]

Love your KZbin name!

[@departfromevil2000]

I want to live a life where I can give freely and spend freely, Great tips, I love the set targets, and intentionally mindset. You got me thinking differently on having real estate and bank accounts in other continues

[@YogaAnywhere8]

I'm earning poverty level wages of $1200 a month, so it's challenging to imagine, define, and set goals that go beyond what I am already used to surviving with financially. My first goal has been accomplished: 1 year working under the table, no W2 work, no taxable income to report. Money earned, I kept. What a rewarding feeling. Next up, remove myself from this USA rat race, and find out first hand how other people live around the world. I have this idea that once I find a place/people/geography that inspires me, the work will flourish. Just listening to you talk I feel a shift in my mentality already. It's inspiring to resonate with others in the idea that USA is not a good fit for everyone.

[@YogaAnywhere8]

​@Erik Thomas I don't have a yoga biz., it's a lifestyle ;) learn your people before you try and sell a 10 year financial plan xoxo

[@thomasmaresh5264]

Yeah my house cleaning lady is cash only and drives a nice new SUV. Legal wage slaves in the US are losers.......

[@m.thompson2961]

Great advice, Andrew! What resonated with me is the concept of not actually needing a "Starting Over Fund." After having the financial rug pulled out from under me and losing everything a few years ago, I had figured out on my own that I needed to set aside money in some kind of an emergency fund account. However, in this video, you've got me thinking more expansively; to consider what it would be like to get to a place where I wouldn't even require a Starting Over Fund at all. Going next level with my mindset on this!

[@skylerd4797]

Loving the longer format videos. I usually download as a podcast while driving so it makes it easier to focus. Keep up the good work and thanks!

[@stephena5752]

35% of the people in the US are in my way. Really loving this channel lately

[@isthisandy]

This is just a guy sitting in a chair talking, but I was so attentive and engaged the whole time!

[@priyeshsrivastava8025]

@Stee again look at it, it's not sponsored

[@naillijseer]

It's the mesmeric hand movements

[@j.a.gilbertanimalart3978]

Just discovered your channel and the tips regarding mindset, risk tolerance, and independent living pinged my radar. For the last few years I've been working hard at changing my mindset and also learning how to market my skills by listening to people like you, Robert Kiyosaki, Bob Proctor, etc and I've been reading Think & Grow Rich by Napoleon Hill to overcome limiting beliefs about wealth (rich people are greedy, money is the root of all evil, ad nauseum). Risk tolerence, especially as a visual a painter, taking steps and meaningful action to overcome the myth of the starving artist by learning marketing (still new to all this but it's like a whole new world has opened up to me) and being independent. Forging my own path through life and ignoring all naysayers and popular opinions that keep people poor. Everything you have stated is all true and worth it's weight in gold!

[@jmoise7383]

Self reliant, diversification, take more calculated risks, health and wealth top priority! Time to get to it!! Thanks for sharing

[@nomadcapitalist]

Good points😎

[@jmoise7383]

@@nomadcapitalist Thanks. Would love for some mentorship...

[@bsfugitt1]

Thank you Andrew. I discovered your content about a month ago. I’ve read your book and you have certainly opened my eyes to a lot of things. You have been an answer to prayers. Thank you, thank you

[@evadeanu1]

Awesome Andrew! Since I found you online and now reading your book, can’t stop thinking about returning to Europe or some Asian places. We wish to retire early snd can’t afford the Vancouver Canada cost of living in retirement. It may be a possibility to become free earlier than initially thought. Thanks A LOT for educating people. You are a great inspiration to us all.

[@nomadcapitalist]

That's very kind of you, Enid; thank you.

[@Trezker]

Choosing to not have debt even though the interest is ridiculously low is something I resonate with. I bought a nice car and could get a loan for basically no interest and I couldn't resist taking it even though I didn't need to. But it's sitting there nagging at my mind. I really should pay it off and be done with it, as well as that little bit of student debt I have left.

[@trippydev9600]

#9. Constantly learn and focus on learning while growing. (I believe that focusing on the aspect of learning will make the pursuit of achieving your goals more satisfying.)

[@irisacosta727]

I'm going from hard worker & receiving govt checks to full time mom & nomad capitalist. Cross my fingers 🤞

[@cathihargaden1608]

Oh wow me too I write everything down in colour- I also believe there’s something going on between the neurology of mind fingers and the paper- I feel wealthy always with pen 🖊 & paper 💯

[@TheGreekGodOfWallStreet]

It’s rare to find so many gold nuggets in one spot. I hear you talk and think “this guy gets it”. Although I happen to be a “more” kind of person.

[@fastbuzzardo4204]

I’m an an optimistic person. I believe in rolling with the punches . To not be focused on any particular thing or plan of action is the ultimate stance in being aware of unforeseen opportunities.

[@ashleighhaynes6355]

@NomadCapitalist - Andrew, this was the best and most informative video you have done yet. Well done!

[@MsFutureguy]

My favorite tip is the fact of work, intentional and setting time set goals. Like most people, I'm not always super motivated. When I design and build a house or building, I work real hard to finish it as fast as possible. I love building at costs so low that regular builders can't even imagine how I do it, plus my roofs can last 45 years. I am a master at low cost design and construction

[@kims144]

"Your income is your greatest wealth-building tool"- Dave Ramsey. I agree with all that you have said. Having no loan payments is a great blessing. Living less than what you make and diversify. I need to work more on the last part(diversify).

[@ILM2219]

I am very happy I came upon your videos. I am starting over for the fourth time in my life and was seeking a mentor who has a nomadic spirit. You have brought inspiration back to my energy field by providing direction on “how and where to.” Thank you, NJ

[@nomadcapitalist]

Glad to be of help, Natalie.

[@HarshColby]

One of your questions at the end has been on my mind for a while. "Why do you want to grow wealth?" I really don't know. I sold a company in 1995, so don't need more money and don't need to work. Yet, I keep investing in new businesses, stocks, and real estate. I have kids and I do want to leave them something, but how many millions do "kids" actually need? People ask what I do for a living, and I say I'm retired. My wife tells them "no he's not". I started two new companies this year (in Mexico), but I don't actively participate in the day to day operation. So am I retired or not? Depends on what definition you're using, I guess. One thing I know: I like investing and staring companies. I like the challenge of finding ways to get a better ROI. I had a client once that told me he has more money than he could possibly spend in his lifetime. I wasn't there yet, at the time, but I am now. It's kind of a strange feeling to think back to when he said that and I was thinking "that would be nice". I can go wherever I want. I can do whatever I want. I choose to keep busy doing what I like.

[@HarshColby]

@Benjamin Feldman Medical research is my charity of choice. Yes, I agree.

[@batabaka]

is it easy to set up company in Mexico?

[@HarshColby]

@batabaka it's not particularly hard, but you need a partner that's a citizen. Foreigners can own at most 49%.

[@batabaka]

@@HarshColby i would love to open a commercial farm in Mexico

[@HarshColby]

@batabaka I have a habanero farm near chichen itza. Nice thing about farming is the government doesn't charge income taxes. It's not making money yet though. I have two boating companies and they're profitable.

[@Revolg88]

It is interesting how you can immediately tell someone's socio-economic status by their non-verbal ques and how well spoken they are. Andrew seems like the real deal. Thanks for this great content Andrew. Trying with all I got daily to make my way to the level to need your consult in the future.

[@dooglio]

I bought property in Argentina. I’m working on building my business and getting it at international status. Many points resonated with me!

[@SusieO]

Really liked the ideas put forward here. "Develop a High Value Skill" was my favorite on the list.

[@BGL333]

What resonated the most was when you mentioned getting several % interest in overseas banks.....I will be looking into that. I also like that you mentioned the tea. Very classy tea and cup. I like your old-school ways. Lots of good points overall. Diversification is important. I also am trying to simplify my life so I don't think having multiple rental properties is it for me. Perhaps a topic for the future would be "How to be wealthy and live simply".

[@OkOk-kk5ys]

Buy brand new realestate, appliances included. Buy in nice areas. Get solid tenants. High income high credit score. I get automatic e transfers into my account monthly. 5 years hardly any contact with tenants.

[@MrJamescord]

I like the idea of moving where you are treated best. I have a business that picks up garbage and recyclables on military bases and we also do small construction. I have to be on site many times at this stage of company growth. I like the idea of building active wealth more and more. Sure I wish I could have all passive income and live overseas in some of the very low tax places you mentioned. I think I need to watch my burn rate and invest more to be able to move.

[@billfournier439]

I am a late starter, so there were a number of things you talked about hit home for me. So, I'll be listening to this many times over. As Robert K. would say listen to the podcast over and over again, and you'll pickup more information.

[@John-wf5if]

Good knowledge Andrew. I made a mistake (take that with a pinch of sat) when I was 26. I set myself the goal to earn $1,000,000 in 5 years. I achieved that goal (a few days shy of my 32nd birthday)...and then instantly realised I set the bar too low, and I was capable of more.

[@chuckieinarabia]

Expat since 1991. Married Scottish lass( good move). Raised our 4 kids through college no debt . Property in Cyprus (2097 top.. ouch) Scotland and Florida. Now close to retirement don’t think my number was right. These tips helped and cv19 has given fine to manage what savings I have. So many opportunities missed but learning now. Thanks for great content! Active income tip resonated with me.

[@MakingitinHolland]

I want to grow wealth because I value freedom. I think money has the ability to help you buy choices which buys freedom. Thank you for sharing your thoughts.

[@eb6195]

I agree that attitude is the most important in any endeavor as well as priorities. Putting making money first in ones life has a cost. Are you willing to give up family life, possibly ending in divorce, maybe having alienated your children? Some will say you can have it all. Is that really true? What does it take to make you happy?

[@wandasanchez551]

Great advice. I was crazy busy working during the surge of the pandemic. I work in health care. Took a semester to learn Mandarin Chinese. You might think it’s a waste of time but I also speak Spanish, French, learned Catalan and German and some Japanese which will serve me well anywhere I go in this world. I’m currently working on getting a 2nd passport and want to own properties globally. I love to travel and explore but my current job, kids, grandkids and an 97 year old father are holding me back from moving out of the country. Good thing is retirement is 2 years away which means I’ll have the time to reinvent myself, dedicate time to a business and live life intentionally on my terms. Malaysia has been on my radar, México and perhaps somewhere in Europe as well. In the meantime I’m working toward that goal. Never too late. Never too old. Great content Andrew. You’ve inspired me.

[@areyoubreathingbyck]

Freedom is everything; Wealth = freedom and lots of choice; this is life in abundance for me

[@valloveinspires]

EXCELLENT insights Andrew. The most impactful one for me is the tip on active income. I’ve been relying more on passive income streams and building those (which are substantially lower than active income which I could command based on skills). This was exactly the direction I require to go back to active income streams which are much higher. Thanks much!

[@nomadcapitalist]

Glad it was helpful.

[@Burt472]

Intelligent and proactive...The best mix...Thank you Andrew from Italy

[@spiritea5640]

Love your channel. Thanks for sharing your wealth 😉 of knowledge!

[@joshuaa.kennedy8837]

For me the goal is all 3 versions of freedom. The freedom within your own mind, Financial freedom and freedom from the market.

[@nomadcapitalist]

Great point Joshua!

[@Xenthoid]

@11:17 Too true! I keep running into people that think avoiding leverage is risk free. They will typically work for those 40 years hoping for a good traditional retirement. Its quite obvious today this is less and less true for many people. By definition, this IS risky. The better strategy is not to avoid risk, as defined by the general person, but to mitigate and manage risk. Harness the power of fire; don't avoid it.

[@BironClark]

Best tips for me: take more risks. Hold more for the long-term. Set targets. Active income, not just passive. (I sell products but could market an ultra high income skill too, and should). Live rich. All amazing

[@CapyBrotha]

I have lots of self doubt. But I’m still trying and learning as a young man I’m glad I’ve stumbled across your intelligent conversation.

[@FrasiIndelebili]

On my road for 1M€ net worth in 10 years. good luck to all of you guys

[@tetsuyama5116]

Concur with all the tips. What struck a chord with me was owning the real estate where you actually live, ie, no rental payments nor mortgage payments.

[@kartikkay4729]

Tetsuyama511 How is that possible ? Government / Local Governance / State owns the land by milking property tax from landowners.

[@tetsuyama5116]

@@kartikkay4729 - Paying in cash and having all the ownership documentation in your corporate name, ie my Thai wife would be 51% majority shareholder and I would be the minority at 49% in the most simplest terms possible. There's more to it - tax and licensing fee payments, etc but you get the picture.

[@MonochromaticBlues]

This is the only video in the internet that explained how my mind works thank you for this video!

[@LBNOSIN]

Like the idea of take risks. Thinking of removing myself from debt and moving overseas to run something online in a place I can own outright! Another great video

[@mxu111]

Yeah, that mindset is hellavu important. Even if this doesn't happen immediately, it's still a worthy long-term goal.

[@donaldsawyer2618]

He is so right. Something is sacrificed. Many of these people have had multiple marriages. Belief is key. Self Doubt will cripple

[@ivanwon6370]

Thank you Andrew Since the downtime during Covid I had to reinvent myself and take a closer look into my Own psychology on how I look at life and how to understand that the 4 walls and a roof cannot stop progress. I have my own business and slowly growing my freedom from the shackles of self doubt.I’ve been learning from the information that you provide and I greatly appreciate it. Many blessings to you and yours.

[@JasonPizzinoOfficial]

Thank you for this video! The entire subject of ultra wealthy and how you scripted the video for the subject was great and easy to follow along and imagine for myself. Very much appreciated!

[@kieranswanson166]

Do you have any wealth building advice for teenagers? What can you do while your in high school to improve your chances of becoming a high net worth individual later in life?

[@keyinspectionservicesllc4233]

Fan-flipping-tastic!! I love when your mindset gets spanked a little...like wow that is possible then your head explodes! Love your channel getting your book...going to reachout to your team operating a small home inspection business just hitting 7figures and looking at a 3yr exit from USA! Thank you for your excellent tips and calm yet captivating demeanor 👊🏼👊🏼 #AlwaysDreaming

[@nomadcapitalist]

Thank you, Farren.

[@JasonPizzinoOfficial]

Can you please talk more about the principle and your experience with “don’t be cheap”? 🙏🏼

[@hassanashwas6719]

I understood Andrew clearly. It is the most valuable advise. Live good because it is a motivator to earn more. You dont want to exist to just save because that by itself will leave you contempt with very little because one one hand you dont enjoy it and second you chalenge yourself to earn more then you spend

[@MuzixMaker]

@@uncletookie9102 Not to mention the higher potential to meet someone who can help you (and that you can help).

[@DC-uo5hy]

Wow, usefull great video. Very well presented truthfull advice. I am now 72 and retired. In the early days of being a capitalist 😃, I learned many of these same concepts by experience and trial and error. I knew that I had to achieve abroad, rather than home and did well in Taiwan, Philippines, Thailand, India, Indonesia and China. I still maintain the trusted bonds with so many fine people. They are all like an extended family. Thank you for sharing our mutual experiences. With regards, David C.

[@kbtitan2464]

This was invaluable. Thank you Andrew!

[@trentspencer7991]

Time is just as valuable a commodity as wealth to some people. I would rather have, spend, invest and retire on ~2M USD in my 20's, rather than work constantly and have ~100M+ USD in my 50's+. Money can facilitate the conditions for you to achieve practically anything but it absolutely can not buy anything. Achievement can not be purchased. The implications of this are that some things can only be done while young and healthy at the expense of a very successful career. Everything has an opportunity cost once you remember that everything you do is on a timer.

[@objectivefreedom5301]

I live in Shanghai China as an expat, I have properties in the UK and a portfolio in Switzerland with ETF and crypto… I like this international nomad aspect…. I fully agree with your points…

[@matthewmiller3630]

"I'm old school. I like to write down things in a notebook" *Nods head knowingly while writing down notes for this video in a notebook*

[@JonnyMReck]

Thanks - I appreciate the substance and concrete ideas here. Very helpful and productive - this was worth the time.

[@Samuthefuturebillionaire]

Very informative, really feels like a conversation. Thank you so much. My key take away is this whole video. I can’t really pin point what resonates most but the value is just incredible. I feel like I am on the right track with majority of the things you’ve shared.

[@blockaderunner]

I could live off of $30K and be perfectly happy.

[@eoinmcdonnell8629]

You're a better man than me.

[@rgrtnyjjc]

Depends where, in an expensive place like Manhattan, London, Paris, Stockholm etc. it might be a struggle. However, if you based yourself in Eastern Europe, South East Asia or somewhere in South America it could be possible to live well with that amount particularly if you don’t have any dependents.

[@frederickwhite9220]

Once I thought I would never need to be very wealthy to be happy. But “happy” took a lot of things for granted, like a community in which I was welcome, one in which my modest prosperity did not evoke potentially violent resentment, and one in which my enterprises were safe from government or social predation. Today, I realize the minimal lifestyle I once had will cost a great deal more and it’s late in life to plan for its increased price. So it’s fine to have non-materialistic goals and desires. But be warned that beneath them lie assumptions you may need a lot of money for one day.

[@MostIntelligentMan]

i spend around 300$ a year

[@janisleon5988]

I would add - do something what you love or what you’re really passionate about. This helps to overcome the difficult times.

[@mars54mars54]

This is all excellent advice no matter your level of wealth. Listen to yourself. Realistically examine where you are, research to discover what your options are to begin, and then begin. You may not have time or bulk captial to become mega mil or bil... but you can become free. For me, that is the absolute bottom line.

[@LadyIarConnacht]

To me, I would buy the houses and rent them out, and keep an apartment for myself, one for my manager and the rest for rent. I really want to travel more.

[@VwapTrader]

Real estate is mostly dead in a government lockdown market. People can’t afford rent, and politicians are getting ready to socialize the economy and remove property rights which means property owners like you will be squeezed into default of your mortgage.

[@andreandree4384]

Buying and renting isn't the best return business out there; it is very capital intensive, meaning you need lot of capital/money to do it. And if you don't have anyone renting your places, you are dead.

[@rayfinkle9369]

Why don't you just make it happen? It's what you want.

[@marylorenzo]

sounds easier than it is. you have to deal with tenants and all that comes with it

[@moqpoq]

Renting residential places sucks. 50% of your income will go to renovation after 10y. Stay with commerce real estate, yet the entry point is much harder in CRE.

[@NannyRecruiter]

I love your info so much... and my 14-year-old daughter has been listening too. We are setting ourselves up to be nomads! Thanks!

[@nomadcapitalist]

Hi, Jane glad to have you 😍

[@GeneBasler]

I love how he says “certainly not the country that you and I are from”

[@VwapTrader]

Yes but he’s only referring to your earthlings. Our countries on Mars are several standards above any of your greatest nations on earth.

[@menardtexsampson3745]

The mindset piece is the biggest part for me that’s the part that I realize over the years that’s killing many people and I really solidified that Todd by listening to Tony Robinson over the years don’t know if I really want to be super rich but I realize that it’s really possible based on reading and studying daily and having a bit of success

[@paultweedie4981]

I know what you outlined is basic information, but it's good to be reminded of the basics every now and then. Loving your videos. Well Done

[@margaritaambrosio5934]

Absolutely mind-blowing! Only got to discover your channel today. My [wealth-related] goals are to become a consistently profitable high-income trader, build and diversify wealth into stocks, crypto, real estate, precious metals, become a global citizen with a second passport and be fluent in major languages (i.e. Mandarin, Spanish) - to give back to those who have enriched my life, inspire others to live a "free" life, and help others by investing in them. Speaking it into the universe!

[@nomadcapitalist]

Welcome, Margarita.

[@saintburnsy2468]

"CapiTEAlist" gives me a good chuckle, everytime 😂 Thanks for the great content Andrew!

[@nyaromeneko4455]

"CapiTOElist" just doesn't have that je ne sais qui