6 Takeaways from the Sovereign Individual
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- čas přidán 31. 05. 2024
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In this video, Andrew discusses the profound predictions made by "The Sovereign Individual" 25 years ago and how they continue to shape our world today. Dive deep into the book's foresight on the impact of technology, the rise of global competition, and the changing dynamics of governments and taxation.
00:00 Start
1:12 Predictions about Governments and Taxes
3:23 Tax-Free Money and Compounding
4:08 Governments' Treatment of Taxpayers
8:21 Making it Harder to Become a Former Subject
10:28 Impact on Middle-Income People
12:33 Creating a Personal Freedom Plan
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Andrew, I read The Sovereign Individual 25 years ago. My copy found a new home in our estate sale in which we sold everything, retired early, and moved to Mexico where I am now friends with your dad. I may have to buy an online copy and read it again to see what they got wrong.
Who is the author
@@bwiseafricam James Dale Davidson & Lord William Rees-Mogg.
@@troymills9437thank you
A truly sovereign individual is simply the consistent realisation of the philosophy of individualism. Governments are an anachronistic relic of collectivist (primitivist/tribalist) thinking set on autopilot. The fundamental philosophical battle is between the individual and the collective.
Finally based people in the comments, that is exactly right.
individualism is about a society of equals where no single one can overpower all all others. equal as in equal opportunities and rights, not outcome, plus no monopolies of power or economics. collectivism is about a society where a select few can rule, tax and otherwise enslave the masses without the later being able to to anything about it. government in that sense has always been a way to overpower and rob people of whatever value they create. its modus operanti is violence and force, be it warfare, lawfare or "medifare". any form of "government" that is not a way of self-government or self-administration by the people on a very local level will turn into a force that enslaves one way or the other, "for the betterment" of its peasants.
@@moqpoq Seeking a "balance" has its own pitfalls, because what tends to happen is that in seeking a "balance" between good and evil, one tends to include a great deal of evil into the mix. The pursuit of "balance" becomes the transmitting rubber tube for evil to flourish.
Ayn Rand
@@frederickfrost6561 Good.
"but soon the cows will have wings" -- I love it.
Thank God you’re back to “active” again.
The thought (a ~year or ~two ago) that you were going to sit in the background and allow other people to provide information and become the face of the business was not your best thought, Andrew.
This is great information!
Stay at it!
"Proper preparation prevents poor performance" - When the millions ($) arrive we will already be set up! Great advice and I look forward to more videos on what we can do to prepare
Absolutely!
Read this 25 years ago. It is and was an interesting book. Thanks for refreshing my memory
Please make a separate video telling me what the book got wrong
I could easily afford to leave, but living in a culture that is not mine, language I don't get.. It's not easy. I have for months at a time. It's exhausting after awhile. I recommend people go where you fit in, have a sense of community first. Even if it's the most tax burdened, expensive place, you will find a way to make it work. Moving somewhere just for taxes, just for more freedom is not enough. You need access to good friends, family, dating, etc.. at the end of the day relationships are what matter. Someone once asked me if I wanted to get old in a foreign country.. and they were right, I don't.. Can you imagine living in Cambodia or Thailand as a 70 or 80 year old? I can't
Home is wherever the Heart is, and where it thrives, foreign or not.
Happiness is not a destination, but you can travel with it, mostly a state of grace.
NOT MY NEEDS! Most humans! Living in a place like Serbia, Colombia where you aren't part of that culture and don't have real connections.. it's NOT For most people! If people really want to escape, get rich, than none of this matters. Andrew goes on and on about taxes, but the reality is, if he is rich he should get out of paying them; legally!@@arresthillary9502
@@arresthillary9502 I didn’t think his statement was judging us. I thought the statement was telling what he thought, and also in a general way.
To most people, making friends and possibly dating, is important for their life, but sometimes you can find that and many different countries.
Well, you can always learn a different language. Thai is difficult. But you can easily pick up some Spanish.
yes but they will always know you don't belong.. I have had 3 years of Spanish, but to be a native speaker and know the slang and stuff, its not easy. @@quinnrivera5075
Absolutely LOVE this channel. Been with you since the Plandemic 👍🏿💯✈
YES for additional post about "what they got wrong".
Wow! Fantastic video. Love to see what you found was off in the book.
Thank you!
Unpopular retirement advice: Use your retirement account to purchase a CbI in another country. It is better to work until die in a free country than retire semi-comfortably in a tyrannical oligarchy.
What is the CBI? I think I heard the term before but I forgot what it meant. Thanks for the info.
What is a cbl?
@@enjoystraveling
Hi! CBI is citizenship by investment. Some Caribbean islands and nations around the world will give you citizenship if you purchase real estate or make a donation to their business development fund. This can range between $150k to over $1MM.
What's a "free" country?
@@enjoystraveling
I believe they're referring to Citizenship By Investment.
I'm always thinking about the price of domicile. Living in a blue city everything costs extra and you lose days of pay for every property tax hike. It's only a matter of time before 100% of your earnings will go back into the system. Need to get more dough and get out!
Thank you Andrew, for what you do. I would love to hear about what the book got wrong in a future video. Thank you
World Without Men by Aaron Clarey is recommended reading; so glad i did . . .
Great advice, Andrew, thank you, time is running out!
Lets hear the right and wrong. Thanks Andrew.
Great video! Please do more book reviews.
I love this book so much 😍 thanks for sharing!
You are so welcome!
Great video Andrew, I look forward to hear what the book got wrong in a future video.
love this kind of videos
Let’s hear both thanks
One of my favorite books have a copy on my shelf, I remember getting it as a book recommendation solid read.
Thank you Andrew, some valuble advice here
My pleasure!
This channel is going to be very very very interesting to watch when the next world war kicks off and borders start to be extremely hard to cross if you dont have the right passport.
One thing to keep in mind is that some residence permits require you to live in the country to get & keep them...
Unless your loaded with money most people will never have a chance to change their place of residence. All I hear is that those who do have the means can escape their countries maybe pay less tax live a better lifestyle. However, countries constantly change their policies over citizenship and also the amounts of money you need to survive in them. I honestly believe we are all trying to run away to a fantasy land that simply does not exist. How about trying to sort out our lives in our own country and fight our govts to improve things for the betterment of all. The idea of getting something cheap in another country whilst the rest of the indigenous population suffer is such a selfish motive! All based on greed!
So many in the UK are currently fighting our govt for freedom of speech and better living standards whilst the rest of the sheep sleep! People need to wake up and support their fellow human beings not make plans to run off to a paradise that is fast disappearing because of corrupt govts! We all need sensible solutions not ones that encourage greed and trampling on those who have less in the countries they move to. This is no longer the answer!
Nonsense and I say that as someone who is from the UK but left years ago. You don't need to be rich to work and live abroad. Mainly just well educated and be well skilled in something. Look at statistics of educated people in the UK, fleeing to the USA, Canada, Singapore etc.. for better quality of life and salaries.
@@mylesm12923 I'm not talking about yesteryear and yes you didn't need to be rich and it was a lot easier getting citizenship if you were decently educated and skilled. Today we have the globalists making sure that they restrict people's movements. Do you really think they are going to make our lives easier as we move forward to towards their evil Agenda 2030?
No I'm not talking nonsense. In Turkey it is becoming more difficult if you want to live an easier life. Their citizenship policies have changed a number of times and the amount you need to live on to get that citizenship is getting absurd! and I'm hearing many stories of how life is not as easy as it once used to be. This is not just happening in Turkey but many other countries. It also sounds like the Nomad Capalist is having to juggle with the changes taking place in the countries he once was so confident about to find places where people can legimately reside in!
I’m currently in Mexico and don’t see people “suffering” all over the place; quite to the contrary, they carry on with a big smile on their faces.
You’re a beast bro I’m from Pittsburgh and felt like I would never make it anywhere
One of my favorite books. It’s 15 plus years old.
Most interesting..
Yet another book turn-on from Andrew! Thank you!
The global investment landscape offers a dizzying array of possibilities. I wonder if saving on your taxes and "having options" are motivation enough to play a kind of "rush in roulette" as a nomad capitalist. It’s great food for thought, though, but as a practical matter, with countries able to start and cancel programs on a whim, the risks involved appear to be pretty daunting. It's nice to have all of this information for us to sift through, nevertheless. The idea of picking up your phone and opening a bank account in a country halfway around the world strikes me as almost absurdly risky.
So don't do it.
@@nomadcapitalist Exactly! And, of course, I still love your channel and think highly of your philosophy: "Go where you are treated best." To me, the best places are the ones where the people are welcoming and honest. I'd like to live in Hamilton, Bermuda for six months a year, even though it's very expensive there. Yet, the people are really "sophisticated” in a good way. Bored there? The mainland U.S. is a mere hop, skip, and a jump by plane, as you know.
I would like to hear what they got wrong,!😊
Not only is the population, collapsing, and most of Asia, Europe, and North America but even places like Africa, we thought it was booming it is not. Nigeria has a healthy, booming population. Most of Africa does not. The point is the source for immigrants is running low and going to continue to get worse over time. Also, the abatrash opportunity for a Mexican worker to come to the US in 1990 compared to now is less attractive in light of US wages compared to cost of living on one hand and better amenities in Mexico now than they were in the 1990s. Capitalism and free trade are population sinks which causes the population does plummet because workers suffer from reduced wages as a result of abatrash obtained by having lower paid workers in foreign countries. Immigration also brings competition for housing and rent and housing prices drastically increase at the same time that wages are depressed. They having more people in the workforce Women entering the workforce and doubling the amount of participants in the workforce drove wages down when the boomers die the whole world is going to be in for an awakening as the shrinkage of the economy is going to be so drastic and swift that peoples heads are going to spin. if you want workers you have to plan by having kids 20 years before hand or more depending on the skill level. People will not start having kids and less you incentivize it by paying them actual wages for their work. This cannot be done in a system that loves arbitrage more than industry and that is where we’re at the seeds of capitalism’s destruction are in itself, but none of the modern capitalist are as wise as a Henry Ford who understood that by paying as factory workers five dollars a day they would be able to afford a Ford automobile, and that’s create a virtuous cycle. No people means no economy and less you’re going to have robots make everything and robots consume everything capitalism is dead, because the S are not willing to pay their workers enough to have families and thus we have a situation where the greedy eat the seed corn and then die of famine themselves it’s very clear what’s going on to me no matter how much propaganda is put out by supposed economic experts to the contrary. Greed is not good.
good book
252 countries and territories couldn’t saw that number anywhere on the net can you share the link
In the west we have google, it’s like a search engine, I know in China you use baidu, happy to help
yea I would like to know what they got wrong
Please tell us more about what the book got wrong
I have been listening to a few of your program and I enjoyed them very much. Nevertheless they apply mostly if not only to the Americans. Will you consider making similar videos for Europeans.. (French or Spanish people)? Because some of your advice don't apply to us Europeans. Still I Thanky- you very much for what do! Your Information is always clearly explained
Talk about Egypt a bit more please
it is a bad idea. that is all what you need to know
We talked about Egypt in one of our recent videos. Have you already seen it? czcams.com/video/p_tCnhDdPq8/video.html
The problem in the United States is that not only high earners are leaving America but also average earners.The reason why is because the top-bottom system is that it supports only the high earners and I have nothing wrong with high earners but in an economy where the majority is average earners but there been trying to improve the economy with high earners which are the minority you are going to have problems.We are seeing countries that are becoming more prosperous they have less millionaires while building a stronger middle class.
I was reading on the dos travel website about a worldwide caution, seems like a pretty bad time to have a US passport. Colombia’s looking more and more nice right now ..
Cost to live in Australia on median income is around $100 a day in taxes. That’s the direct cost of domicile.
Yes on what the book got wrong.
Thank you for the information. Taxes is not the only thing to be concern with anymore. What may be coming in 2024 is scary. It is interesting that you mentioned Georgia. Moving there would be impossible. However, I have dreamed about visiting Georgia which is in the Caucasus. They used to be known to be one of the longest living people in the world. Georgia is a Christian country. This might interest some people. Eva
You've mentioned Serbian citizenship a few times, but don't you have to renounce other citizenships if you're naturalized?
You can read more about Serbian citizenship here: nomadcapitalist.com/global-citizen/how-to-get-serbian-residence/
Unfortunately, more true than what I want it to be. Especially true, for the middle class. Have have had several people from my work place move to Panama and Costa Rica upon retirement. They as middle income earners seem far happier there than in the USA.
It is rumoured in Turkey that the golden visa will start at $600,000! In Greece you just have to avoid Athens and Thessaloniki and it’s still $250,000 for a permanent residence.
Talk about what they got wrong
4:41 sound like seinfeld h😂
What are your thoughts on becoming a non citizen , if you spend less than 30 days in any country in any 365 days plus 1 day ,
You technically become a non citizen and therefore a non tax payer of any country, i remeber reading that in the UK somewhere on a tax or passport web site ,
You still have a passport of UK for example. You have to be somewhere-permanent or temporary resident, otherwise you'll be taxed based on your passport.
Truebit Protocol
great video
Thanks!
Yes pls talk about wrong
Coming soon!
😂 Trump impression... 4:35
Do you guys only work with 7 figure individuals or do you work with those who earn less?
We help clients with $500K+ incomes.
Interesting video. I wonder how many people watching the video understood what you meant when you said when you move to Switzerland and you become a Swiss citizen, say goodbye to your tax benefits? I'm sure very few or none really understood that. When you look at high net worth migration, you don't see people moving to the countries you talk about. It might be interesting from an academic point of view to move to a third world corrupt country, and pay almost 0% tax. But very few people are going, and there's good reason for it. The only way you can make really big money in some of these third world countries is to be well connected. You'll probably need to get a local partner who is high up in the government or a general or something like that. Unfortunately sometimes, they feel that they should get all the money not just a part of the money. You can certainly be very vulnerable in these cases. There's loads of African countries that have a lot of natural resources. Just like in Russia where people became partners with Putin, the same thing happens in these African countries. You get a mercenary Force to protect the mind of gold or diamonds or whatever else you can get out of the Earth. All you need is a bunch of guns to keep the locals at Bay. You meaning you and your government partners can get the lying share of the money, well the rest of the population live in squalor. Sound familiar?
I understood, Switzerland is a very high tax country plus the prices of normal food, etc. also cost a lot. So if a person moves to Switzerland if they’re able to then they’re not gonna save any on their taxes they’re moving for other reasons.
@@enjoystraveling no. Once they get a passport, they cannot be on a forfait. Switzerland is not a high tax country, but it is very expensive.
What are you talking about, half of the video he talks about making your income on the internet so you can make big money anywhere without knowing anyone
Good observation.
@@vioreliachim5646 This is one of the reasons why you really need to get professional help to know what you're doing. There are other examples as well. One of the functions of non-dom, is that you don't have a domicile in the country. Let's say a door to their salesman came to your house where you were living as a non dumb and give you a deal on a burial plot in the country. Once you buy it, you're no longer non-domiciled in that country because you're planning on dying there. How many people would be aware of that!
El Salvador? not sure about that. Its mostly an unsafe country and those who say otherwise well, they haven't got the entire picture yet. of course the main cities are safe in general, but as soon as you exit those places,....watch out at night. Lots of gangs!
Tell us what they got wrong.
France is talking about taxing company pets..!!!!!! You have a cat or a dog? Taxed.. you have 2 pet? EXTRA TAXE!!!! .. "Woke"
@@WolfF2022 That's incredible to me ... I don't understand how it has been accepted.
@@gaeldesmontagnesnoires1711 We've had those taxes in the Netherlands for the past 25 years but we never paid as nobody asked us if we owned any pets
So do those pets receive a government pension when the time comes? 😅
Bob Dylan wrote, “the Times They Are A Changin’. Never has it been so true. Our great post WWII equalization and creation of a mighty educated (GIBill) middle class is not static and are open to new frontiers …..
Are you not skiing today
Want to see what the book got wrong
Dairy cows are k111ed too when they are no longer productive. So are their male calves.
It is happening, more Canadians 🇨🇦 are leaving now ✈️
Many are leaving Provinces to others. BC is an example of such, many leaving for Alberta...
✌️😎👍
Slightest Trump impression from 4:35 - 4:39
I'm curious as to your take on how authoritarianism impacts individual sovereignty, particularly for the majority of us who are not high net worth individuals. If Trump is re-elected, do you think he will be a dictator only on the first day? We indeed are cows as far as our governments are concerned and I plan to use my wings to escape the repression of a Trump/Republican dictatorship, because that is exactly where we're headed. I'm not concerned about the phantom menace of wokeism or vaccine mandates.
Thanks. @@scottfree993
I would LOVE to live under a Trump/Republican “dictatorship”. I can’t stand the actual dictatorship that is wokism.
taxes... it's all about taxes.
Stalin was from Georgia...
Now the "Nomad Capitalist" YT channel is recommending in you open a bank account there. Times changed.
4:33 this sounds like a Trump impersonation 😅
Thank you Andrew
go all the way and renounce your US citizenship
He has, where have you been?
You must be new here.
What rock have you been living under - he's said multiple times across multiple videos that that was the first thing he did once he became a nomad capitalist!
Dear Amerikan friends and compatriots. Also think about the huge opportunities that the counties of the Axis of Evil: North Korea, Russia, China, Iran provide you with. Get residence permits, passports and invest your money here. For example, in Russia, the incom tax is limited to 13% and it will be very pleasant to your wallet.
Anyone who invest in China for the long term is full as their population decline is going to lead to industrial collapse. Russia provides grain and hydrocarbons for the world. The internal economy isn’t worth involving yourself in it even makes China look great. Before you go investing your money, you might want to pay attention to the demographic realities of many of these places. No babies means no future.