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RebbureM

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Hey guys,

Name's Michael, I'm an engineering student from a Slavic country. Got sucked into the digital nomad waters around 2015 and been bingeing ever since, however WPB knocked some sense into me and thus transferred interest into actual business and money making instead of wasting time trying to be Tim Ferris. Finishing up my studies this year with plans to leverage a higher income from engineering into service based businesses and eventually real estate. And so it begins....
 

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RebbureM

RebbureM

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jun 14, 2019
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ecommercewolf

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Jan 8, 2019
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Funny how you mentioned wallstreetplayboys.com, I found that website a week ago haha. I didnt realize WPB was referring to that.

Yeah a lot of fastlane knowledge on that website. Basically you want to create a business that would create the lifestyle you want ANYWHERE in the world, not just in certain countries which is what some "digital nomads" are doing.
 
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RebbureM

RebbureM

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Read Millionaire Fastlane
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Jun 14, 2019
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Exactly! People lower the standards by going to a cheaper country and think they're doing themselves a service. Not that there's anything wrong with that per se, but generally in life you have two approaches: raise your worth or lower the bar.

Taking advantage of geoarbitrage is good for an incubator phase in your business, but as a lifestyle I'm not as sold as I used to be.
 

ecommercewolf

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Jan 8, 2019
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Exactly! People lower the standards by going to a cheaper country and think they're doing themselves a service. Not that there's anything wrong with that per se, but generally in life you have two approaches: raise your worth or lower the bar.

Taking advantage of geoarbitrage is good for an incubator phase in your business, but as a lifestyle I'm not as sold as I used to be.
Agreed, I want to be at a point where if I'm living overseas and want to return to the States I CAN maintain the exact same lifestyle here.
 

Roli

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Finishing up my studies this year with plans to leverage a higher income from engineering into service based businesses and eventually real estate.
Finally someone not asking if they should quit the last year of their STEM degree.

Good luck, and welcome to the forum.
 
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RebbureM

RebbureM

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Read Millionaire Fastlane
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Jun 14, 2019
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Finally someone not asking if they should quit the last year of their STEM degree.

Good luck, and welcome to the forum.
Amen to that! Thanks brother!
Agreed, I want to be at a point where if I'm living overseas and want to return to the States I CAN maintain the exact same lifestyle here.
I feel the same way, and I don't even live in the States :rofl:
 

reedracer

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Someone said there would be squats?
 

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AgainstAllOdds

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but generally in life you have two approaches: raise your worth or lower the bar.

Taking advantage of geoarbitrage is good for an incubator phase in your business, but as a lifestyle I'm not as sold as I used to be.
You also have a third choice: raising your worth while lowering your cost of living.

What would you do with your time if you never had to clean again? Do laundry again? Never had to cook again? Unless you wanted to?

For a lot of people, household tasks take up 2-3 hours of your day. That's a huge impediment on your life satisfaction and freedom to pursue goals and interests.

If you can combine raising your worth with lowering your cost of living, then you're creating a formula for rapid growth and increase in life satisfaction.

Let me give you an example of how that works.

For most people, leaving their home countries and becoming a "nomad", comes with built in tax benefits.

Let's say you make $100k in the U.S.
You pay $35k in taxes.
So really, you make $65k.

Just by leaving the country, and doing a little planning, you can instantly raise that $65k to $100k. That's a 54% increase in income overnight!

Now you're in a country where your cost of living is lower, so you're spending less, or spending the same and living a much more comfortable life. You have more time to grow your business. You have a lot better access to cheap labor to execute on your online endeavors. You have more capital to invest in growth, business gambles, etc.

If done right, it can be extremely lucrative.

What's not lucrative is moving somewhere like Peru, and bumming out on $1 meals while living in a dorm room and making $12k a year.
 
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RebbureM

RebbureM

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jun 14, 2019
11
16
17
What's not lucrative is moving somewhere like Peru, and bumming out on $1 meals while living in a dorm room and making $12k a year.
Agreed!
I'm not denying the use of it at all, I was merely alluding to that situation, of people using it to "bum out". I've spent my whole life moving back and forth between a rich first-world country and a poor second-world (developing) country, so I've witnessed first hand the power of arbitrage.
 

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