Why You Should Leave California Now

i gave up three years ago almost my u.s citizenship and people say oh it's a tax it was like i paid very little tax overseas right but and i did it legally sounded a little trumpy in there i paid very little and uh that was good that was a good impression yeah excuse me you know at this point you know you're you're traveling the globe you're helping people get multiple you know citizenship in different countries i mean what what were maybe some like uh some misconceptions you had at first about you know traveling the globe or living in certain parts of the country that you think maybe a lot of americans or just people in general have about you know because i believe it or not i know some people who don't want to uh they don't want to get out of the city we're in let alone the state little country right i mean there's some people that just don't think on that level because to them it's scary so you know what what has your experience been as far as like hey you know what i i thought it was going to be this way totally wrong well yeah it's funny i had a a client and friend number of years ago who's telling me about australians and he said we come from whatever the city was in australia and he said we're literally taught that if you invest in a different city in australia you're probably gonna get scammed and robbed and it's just gonna all go downhill i mean a different city literally a couple hours away um obviously there's a lot of misconceptions that i've learned and that i now talk about in the offshore world and how offshore companies work and offshore bank accounts work it's not about hiding money you know there's a lot of disclosure that's required these days it is about going where you're treated best asset protection reducing your taxes you know diversifying your assets things like that but on just a lifestyle level um you know the big thing is there is not a great delta in many places between what people call the first world what people call the third world i'm here in malaysia for example we've been you know this year obviously travel has been slowed down and so malaysia one of the safest countries in the world right now i think they did a great job without being overbearing it's not their culture to be overbearing um and so we've had the chance to travel around now and you drive on these roads four hours outside of the capital city in the middle of nowhere these are like some of the best roads you've ever seen i've had people who were in eastern europe um they're in ukraine they're in serbia for example and they said these are better roads than you'd find in detroit they're better roads for sure than you find in cleveland in many parts of the united states and many parts of the western world and so obviously that you know every culture is different um and so i think that's helped me actually become much more self-aware in life because you're the friction of you versus their culture exposes the things that you really believe um and helps you learn new things everyone's different everyone has a different perspective i do think that on a positive side for the united states you know people in the united states say oh americans are lazy and certainly there are some a lot of other cultures are probably much lazier um so the idea that everything in your country is terrible is wrong uh you know there's times where i think it'd be nice to order stuff off amazon and have it delivered 45 minutes later uh on the other hand it's pretty convenient by the way that's it it is yeah i imagine it is i missed that one actually this mic i think was uh the next day i ordered it uh one day it was i think noon the next day i was like awesome well that is the nomad tax if i want to get a mic and we've got a lot of things here and uh uh i've started to found a lot of things and and now you've got online you know you've got e-commerce in a lot of countries now but it's not quite as easy i call the nomad tax which is why um you know for me the tax savings and and the lifestyle improvements are what makes it but no i just think that people are much nicer i think that there's a lot more development that you wouldn't expect um i think those are two things that stood out to me yeah i think dropping your taxes from that 43 down to you know whatever you're at now probably over compensates for the uh the expedited shipping so you probably got the better end of the deal anyway yeah at a certain point like i got i got a credit card sent i have a mailbox in the us and i got some stuff sent and it's just like you know it feels weird but it's like you know what just spend 75 bucks and have it sent uh you know dhl two day or whatever and it seems ridiculous for something but that is the nomad tax right i mean if you make you know a million or two million or five million dollars a year and you can go from whatever you're paying in california now which is you know is is insane it's it's yeah they want to grab it uh description there yeah they just they're gonna pass the wealth tax in california that's coming oh don't pass anything i mean it's been that way i mean the franchise tax board in california is the most aggressive tax collection agency on the face of planet earth bar none the irs is at the kitty table in comparison and they're not exactly a joke but um yeah i mean i i don't obviously my perspective is not what's it like to to move overseas for 50 grand a year obviously you can lower your cost of living i think you can increase your freedom you can be a lot happier you can meet potentially nicer people you know better dates whatever the case may be but you know from a financial perspective i think that if you're willing to you know pay a little bit of nomad taxes i call it pay 75 dollars to have your mx card shipped because they're not shipping it to where you live potentially um then you know it's well worth it but there are trade-offs i think the idea there's any anything that's perfect uh is is of course wrong yeah there's no there's no utopia out there right no no perfect not yet i mean california is establishing their utopia they got you know they got the inheritance tax and the wealth tax and then we've got utopia i'm telling you you know i mean has anybody told these people there are other beaches in the world so my brother just saw his in-laws in florida they just moved to florida and he was just like you know for as as uh much as people rack on florida i had a really nice time he was like i just you know it wasn't bad it wasn't expensive and the beaches were nice and the water was warm and the food was great i was like yeah i mean i i own an apartment in uh in montenegro in kind of southeast europe across from from italy in the adriatic there's a beautiful yacht club the only platinum certified yacht club down the street from my house and you know my thing is i don't expect that property to have substantial capital uh appreciation compared to the other properties i earned around the world because you know what one of my employees who is ethnic albanian kind of the opposite culture of of serbian and montenegro she went to albania in the south of albania and they've got beautiful she sent me the pictures beautiful beaches they haven't developed yet you can pay 500 for a meter of property almost right across the street from the sea and some say to myself the minute they developed this my property in montenegro i mean you know it's going to have some competition they're inventing beach resorts all over the world every year there's a new beach resort yeah so quick and side note so from right when you're saying you're you're in kuala lumpur right andrew that's where you're at right now yeah so one of one of the best evenings and the best cigar ever had was if you took a line exactly east from kuala lumpur that we were staying at the hyatt regency yeah on the south tennessee and we sat out there one night and i was like i can't believe i'm doing this it was a beautiful beach in in malaysia and i was like man this is i could live here i see i always see my people moving that was you know that was in 2005. so and it's you know malaysia's got nothing but better since then i think it's one of the hidden gems and i always tell the story i mean go back and look at the movie entrapment from what's in the late i think was intrepid yeah from the late 90s with uh with sean connery catherine zeta-jones and they're in uh they're scaling the petronas towers near my house here and uh you look around it's what they call a kampong you know there's still one little area near us called kampung baru they have they have refused to sell and they have this old-school hundred-plus year old village that was the whole city basically yeah i was what you know 13 years old this is when my dad was telling me to go where you're treated best and and now i'm 300 meters i'm 400 meters away you can't see the darn things because there's so many big buildings they developed as this becomes really wealthier than many european countries if you look at the numbers right right yeah absolutely very cool place and nobody knows about that so um you know kind of moving back to you know governments are they trying to make it easier or harder to become that you know that that nomad right is it is it something that they're embracing or is it every is it country dependent or is some country's cracking down well you know again uh i like i think everyone likes uh people businesses countries who understand where their bread is buttered and they want to welcome you rather than repel you so you know barbados uh recently has talked about this one-year visa for people who want to work online and letting people come and do that and removing any gray area that was remaining of the fact that you can come and work um you know estonia has made certain things i don't know that there really had the intended purpose but they had a good attitude georgia a country i talk a lot about has kind of pulled back a little bit but had a lot i mean they have still a 360 day tourist visa policy for most countries you can come there so those countries are welcome malaysia is open to pretty much everybody on earth um they're welcoming uh you have western countries that i guess are you know adam carol the comedian talks about california as kind of being uh the prom king or the prom queen we mentioned earlier once they turn 50 and it's like your your day in the sun is kind of over but you're still clinging to the fact like that's still your your thing is that you were the prom king you threw and you threw the touchdown you threw the game-winning touchdown right right in 1997 you uh you beat uh you know the thunderbirds at uh high school in a yes and a rousing victory and you're uh clinging to that and i was i'm i don't want to be dismissive of anybody obviously i mean you know but my big thing just again going back to my back front is uh you know are you entitled and i i just i don't want to deal with entitled people in my life and i don't want to deal with entitled countries uh obviously we don't all have to uh achieve amazing things uh and i think that we should have a lot of respect people who choose to leave simple lives and that's one thing i've learned traveling around the world some people just want to live simple lives and and maybe that's better than what we're doing um and we should respect that but i also think that if you're a country you have a lot of western countries that are just you know yeah like frank cho and you know you're going to blue one and it's like you really think gavin knew some nobody can leave california and by the way that's why they have to say we're going to go back 10 years if you leave we're gonna go back and find you yeah yeah right people that we've been talking about this i gave up three years ago almost my u.s citizenship and people say oh it's a taxes i paid very little tax overseas right but and i did it legally sounded a little trumpy in there i pay very little and uh that was good that was a good one yeah yeah excuse me we but they're gonna do and i said i said to myself they're gonna go if you stay a u.s citizen with all the new stuff they're gonna roll out they're gonna go back retroactively and they're gonna start i mean by the way they did three years ago with people who were overseas and people had to pay some tax retroactively i said you're gonna see more of this uh and now here it is more of it they're going to do anything by hook or by crook and i say to myself you know they're living off of the brand name of california they're living up the brand name of the united states and you know here's what it is they're not even living off of um they're living off of misinformation it's like a food product that you see the nice shiny ads and everyone eats the food product but actually it's filled with gmos and msg and all kinds of terrible stuff and nobody knows about it when you go and you talk to people in china for example and you say hey if you get a green card you're gonna have to pay tax on your worldwide income that big business in china it's all on the table for the irs no that that can't be possible no i understand the tax in the u.s no they will tax your business in china if you live there or become a citizen and nobody believes it and so these countries are living off of the marketing that they can't no it can't be that bad yes it is and so i think that the countries that have the brand name um they are using it western countries i think are much more judgmental about it countries like singapore where they don't really care they're just raising their prices oh you want to immigrate here now it's five million you know why not but fine come on in you're from afghanistan if you have five million all right you look clean okay let's go um uh you know but the western countries have become very judgey about it and uh it's it really just is oh you don't like it you know to me oh you're a traitor great get the hell out you know i think honest feedback is always valuable stupid feedback is not valuable but honest feedback of here's what's not working for me no they're just gonna you know buy votes yeah yeah well i mean just as i don't think i get carried away though no no no we've been talking about this for a while but you know california is gonna is gonna add on the um death tax the inheritance tax is coming in california and it's gonna be three and a half million you know a couple three and a half million dollars everything over that is taxable and that i mean you know we because we when they did the initial rollout we did you know do what most people did you know don't do and actually read what it said and it wasn't even it wasn't even like hey we're gonna fund this project it was to develop another government group to then monitor another level of uh uh inequality right so i was like you're gonna attack you're literally going to they called it a uh in in equal it was inheritance inequality they're like we're going to solve the inheritance inequality by taxing it at you know the inheritance of 40 and putting in a group to see where inheritance should go and then from the fund we'll try and channel money there and i was like it sounds like well as we go along well right and that too wait listen human beings are human beings and certainly there's jealousy everywhere in the world but i think that some of the cultures that i enjoy spending time in there perhaps is less of this jealousy but i mean you look at the federal income tax that came in a little over a hundred years ago three percent and everyone said okay we can all handle three percent um and and now look at where it is today you know i think that any of these things are the camel's nose under the tent um and so oh you know it's just for just for guys for 30 million really how long do you think that's going to last really right because those guys are going to call me and uh right absolutely right they leave absolutely i mean listen i don't know how california still has 42 million people living in it i mean i i lived in california for seven months i one of my first big radio uh gigs but um i met so many people i remember moving and like i was like you know i was young so i'm like i'm trying to extract every dollar kind of stupidly and i was like selling my refrigerator and i remember i'm still facebook friends with this woman who bought my refrigerator in 2007. and they're and they're still trying to move out of california and they just can't get ahead but if you're a wealthy person in california my goodness what's your excuse yeah well they're leaving they're leaving in droves yeah they they are in it i mean when you look at the data of who's moving in and who's moving out i mean it's going to accelerate you know because there's a but there is a bunch of people you know that's that's why it seems like america or not america but california is kind of staying you know like like even but really there's a ton of people coming in and they're all the people who you know are not going to be contributing to this right they're they're the ones that are going to be more extractors and all the people with the money are are moving out so i think the problem's going to get accelerated here pretty quick yeah i think we talked about this for another 45 minutes but hey mark let's go ahead and uh kind of wrap up this episode kind of here we got a couple of last questions for andrew yeah yeah i'm bummed i was going to say if you if you're ever in california i would love to you know i'd love to get a beer or something but i don't think that's ever going to happen i don't know if it won't be in california [Laughter] we'll come to malaysia and get a beer there you can do that it's probably a lot easier actually well actually we'll do something better we'll meet in singapore and we'll go uh cheese louise we'll go to the um oh my gosh this famous bar in singapore and get a singapore sling at the long bar at um raffles hotel there we go that'd be more fun uh well quick we'll do a couple last questions here or just the last question here which was you know for for anyone you know obviously you you speak to a lot of wealthy people on how to be more tax savvy and smart and everything but they're the people who've already made it um if you were to speak to the you know teens or early 20s or at least the parents who have teens and early 20s you know aside from the go where you're treated best because obviously that's your your go-to i mean what what part you know what what worldly wisdom or not worldly wisdom but just just entrepreneurial wisdom do you have for those uh those listeners well i think i think it is go where you're treated best i think if you applied that to everything in your life it's not a financial saying ask yourself if you're in a relationship you know if you're dating in a certain culture is this where i'm treated best ask yourself you know if you're in universities that's where i'm treated best uh and so my advice would be to you know if i'm a teenager i've often said uh the idea that you're gonna pay harvard you know sixty two thousand dollars a year whatever it is you could live for a fraction of that and send your kids on a whirlwind tour perhaps not this pretty given moment but on the worldwide tour you know i spent a lot of time in cambodia i found cambodia one of the most fascinating markets in asia it's probably one of the few very investable markets left in asia it's available to foreigners and uh has a lot of potential still and you just will trip over business ideas there there were a couple guys in cambodia a while back they started a coffee shop called brown coffee and now starbucks has to come and kneel to them and coaster coffee has to come and kneel to them and you have the best starbucks one of the best starbucks in my opinion in the world in the in bkk one in gnome pen because you had these guys who had the simple idea of let's start a coffee shop there was another guy who started i think it's called uh blue pumpkin little ice cream shop little ice cream stand yeah that i believe started near the angorvat temple complex expanded all over the country the guy has a multi-million dollar ice cream business you can't do that right now in the u.s you're not going to compete with dairy queen i mean maybe there's some niche you can get into but i mean everybody's doing the same things and so i would send my kids on a whirlwind tour of looking at all the different places and i would probably go if i'm if i'm a young person i would not be doing what i'm doing which is being in malaysia for example which in my opinion is the middle singapore to me is needlessly expensive i'll bank there i'll store wealth there but i don't you know i don't need it i don't it's not quite it's not quite enough freedom it's needlessly expensive i don't want to spend three million dollars an apartment in one place but anyway i wouldn't even go to malaysia i would go to the cambodias i would go to places in africa i would go to the bolivia's i would go to places that are on nobody's radar and i would find the opportunities and you can do that for a fraction of whatever you're paying at university i can promise you you're going to learn a lot more about how the world works and you're going to see the real world in action the way that you'll never see in university and that's what i would probably recommend how can nomad accomplice help you four ways number one subscribe to our channel and click the notification bell to make sure you get our new video every day number two get a copy of nomad capitalist the book you'll learn a lot of my personal experiences over a dozen years of studying this stuff as well as exactly some of the strategies that you can use to build your nomad capitalist plan number three if you're not sure where to start but you want to come and learn from my team and i you want to come and mingle with like-minded people learn more about our live conference nomad capitalist live it's coming up soon and number four if you want some help right now because you've got a burning issue you need something solved you want to lower your taxes get a second passport or build the nomad capitalist lifestyle of your dreams go to nomadcapless.com and click on become a client

Channel: Nomad Capitalist

Views: 155,448

Keywords: nomad capitalist, go where you're treated best, interview, josh saunders, wealth preservation podcast, global mindset, life in malaysia, moving overseas, live in kuala lumpur, become self aware, travel around the world, nomad tax, tax savings, franchise tax, irs, life in montenegro, life in albania, hyatt regency malaysia, life in langkawi, kampung baru kuala lumpur, life abroad, grow your mindset, renounce us citizenship, us taxation, exit tax usa, life overseas

Id: TQxz2jhkayU

Length: 20min 12sec (1212 seconds)

Published: Wed Nov 04 2020