back to index2021-04-05_Major_Travel_in_2021
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Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, 00:00:03.220 |
skills, insight, and encouragement you need to live a rich and meaningful life now, while 00:00:07.360 |
building a plan for financial freedom in 10 years or less. 00:00:11.640 |
Today on the show, I want to share with you some of our exciting plans for this year, 00:00:15.800 |
my family's plans for these coming at least six months, although time will tell. 00:00:23.120 |
To cut straight to it, we're going traveling again. 00:00:26.040 |
At the moment as I speak to you, my house is full of boxes, stuff is flowing out the 00:00:31.600 |
We are in the process of minimizing and downsizing once again. 00:00:35.240 |
We've been living in a rented house for quite a while now, for the last couple of years, 00:00:40.160 |
and we are getting rid of all of our stuff yet again, keeping just a few things, the 00:00:44.200 |
important things in life, you know, books and more books and more books, keeping books, 00:00:48.460 |
but otherwise getting rid of all of our personal possessions and downsizing for our family 00:00:52.960 |
of six down into just a handful of suitcases again so that we can hit the road. 00:00:58.120 |
And in this next month, in May, at the beginning of May, we will be traveling full time. 00:01:04.000 |
We're, again, getting rid of our house, hopping on an airplane. 00:01:15.480 |
In June, we will be in the United States of America. 00:01:20.760 |
We are planning to head to Europe, but of course, there's still some uncertainty there 00:01:24.520 |
given all of the European travel restrictions. 00:01:27.840 |
But this summer, and so I can't tell you exactly the countries, but this summer, we intend 00:01:32.280 |
to spend some time in Europe, spend some time in Portugal, hopefully in France, in Spain, 00:01:39.840 |
going to go check out Malta, going to go to some in Eastern Europe, planning to go to 00:01:45.160 |
Serbia, then some of the Balkan countries, possibly along the coast, Croatia, Montenegro. 00:01:58.720 |
I'm interested in what's happening in Georgia and Armenia, possibly Azerbaijan. 00:02:05.120 |
From there, we may go on and spend more time in Europe, or we might head to Asia via India. 00:02:10.960 |
I'd like to go to India and spend some time looking around for opportunities in India. 00:02:22.440 |
But Hong Kong, Singapore, looking for investment opportunities, finance opportunities, may 00:02:33.600 |
And of course, all this is subject to a number of things. 00:02:35.720 |
We may pop down to Indonesia, pop into Australia, maybe go to New Zealand, or we might not. 00:02:42.640 |
So the reason I'm being a little bit cagey is simply that I don't even have tickets yet, 00:02:46.640 |
and the world situation is still somewhat unknown. 00:02:49.560 |
We're dealing with the kind of the back end of a global pandemic. 00:02:54.160 |
We're dealing with some tight lockdowns and travel restrictions in some of those places, 00:02:57.880 |
and so that can make immigration, traveling places, tourist difficult. 00:03:02.200 |
And then of course, also, I need to be cautious and careful about what my family can handle. 00:03:08.200 |
My wife and I are not strangers to travel, even to extended travel. 00:03:14.320 |
We got rid of all of our stuff and hopped in an RV and spent six months traveling around 00:03:20.840 |
And on that trip, we also didn't have a specific timeline. 00:03:23.720 |
We didn't know if we're going to go for three months. 00:03:25.120 |
We didn't know if we're going to go for a year. 00:03:26.600 |
But we wound up conceiving a baby, and so we needed to be stationary for a time when 00:03:32.200 |
That was what ended our trip then, and we decided to leave the United States too. 00:03:39.200 |
My biggest concern in terms of timeline is just how are my children going to respond. 00:03:45.760 |
We have some experience traveling, and so I think they'll do okay. 00:03:53.640 |
They may not feel secure if we're moving around all the time. 00:03:56.240 |
And if as a father, I see that, then I want to be free to change and adjust because I 00:04:01.120 |
do have young children, and I need to make sure that they're healthy and doing really 00:04:06.080 |
And so we'll see, but that's our tentative plan. 00:04:09.600 |
Well, first of all, I'd like to share a couple of lessons with you and then share how you 00:04:13.440 |
can get connected and keep pace with us on these journeys. 00:04:18.560 |
First lesson I'd like to share with you is simply this. 00:04:24.520 |
Or related to that, it's only scary until you've done it. 00:04:29.060 |
We are in the midst of doing something that is for most normal, sane people, scary and 00:04:37.040 |
Getting rid of all of your stuff, getting rid of your house, and packing your young, 00:04:41.880 |
large family into suitcases is for any normal, sane person, scary and difficult. 00:04:51.100 |
But while it's not easy, and it's not without some cautiousness on my part, I don't think 00:05:01.360 |
I want to tell you why that is, and it's simply this. 00:05:08.600 |
And I've done it in testing different ways, different times along the way. 00:05:12.800 |
I've tested so much of this that for me, what we're doing, which is certainly the stuff 00:05:17.000 |
of dreams for many people, doesn't feel all that scary and all that difficult, because 00:05:25.160 |
And I believe that this is a strategy that you can implement into your life if there 00:05:27.760 |
are plans and things that you want to do, that you would like to do, to make things 00:05:35.780 |
The first is to be willing to dream big dreams, and be clear on what you want to do and how 00:05:41.840 |
But if you have a dream and you have a goal, recognize that it's going to be scary and 00:05:55.620 |
So let's start with a little bit of backstory. 00:05:57.160 |
First of all, over the years, my wife and I have traveled in a number of different ways, 00:06:02.520 |
and we've proven to ourselves that we can be happy, that we can have a good relationship, 00:06:07.040 |
that we're both pretty low maintenance, and that we can do it in all kinds of different 00:06:11.120 |
Over the years, we've slept in cars, we've slept in tents, we've had nice hotel rooms, 00:06:15.200 |
we've rented luxury villas, we've had big, fancy, expensive experiences, and we've had 00:06:25.680 |
As children have come along, we committed that we were going to keep on going. 00:06:30.520 |
I don't think any parent would say that it's easy to travel with children. 00:06:34.440 |
You go camping with your kids, and your kids get filthy, and they get the stuff filthy, 00:06:39.440 |
Our lesson is we take a Rubbermaid tub and dunk the kids in the tub and use it as a bathtub. 00:06:48.480 |
When we had two young children, we bought our first motor home, and we traveled in that, 00:06:55.720 |
I think our longest trip in that was two and a half weeks, maybe, something like that. 00:06:59.440 |
But in that two and a half weeks, we did all kinds of different things, and we learned 00:07:03.640 |
We could have a great time with a couple of children and a couple of dogs in this tiny 00:07:07.540 |
And then we outgrew that, and we sold that thing, and we kept on going, and we've tried 00:07:12.680 |
When we went off in our RV trip, we'd already downsized, right? 00:07:17.000 |
We'd already moved to a smaller apartment, and we enjoyed that. 00:07:19.400 |
But we were done with the apartment, ready to move anyway, and so we decided to go ahead 00:07:24.300 |
And traveling in the RV taught us a lot of things about what was easy and what was not 00:07:29.840 |
There were some things that were wonderful about it, and there were some things that 00:07:33.560 |
And so as this information comes, you start to test your boundaries, and you start to 00:07:37.980 |
And you build your skills and your capabilities by trying things and by doing things. 00:07:43.560 |
After you've lived in an RV for a time, it's a lot less scary to think of moving into suitcases 00:07:47.680 |
and living in an Airbnb than it is if you have a big house and you're accustomed to 00:07:55.000 |
When we moved abroad, we didn't really have a really great plan. 00:07:58.280 |
I had a credit card and a passport, and that was about it. 00:08:01.240 |
So we just flew outside of the United States. 00:08:06.400 |
I rented a car sight unseen on some random rental car website. 00:08:15.600 |
We went and bought some stuff for the kitchen and figured out how to do things in a new 00:08:21.280 |
And then along the way, we changed a few different things and moved around a couple times and 00:08:26.360 |
But along the way, we do more and more of it. 00:08:28.080 |
So today, it was funny that when I was talking to my wife about going traveling in the RV, 00:08:32.920 |
it took quite a lot of convincing, a lot of time, because she thought it was kind of crazy. 00:08:38.800 |
But then remarkably, as we've started talking about this last time, it's been a fairly easy 00:08:45.120 |
And so having kind of picked up your roots and then having put down your roots in another 00:08:49.300 |
place has showed us that it's not that difficult. 00:08:54.320 |
But what I would say is it's not that difficult for us at this point in time. 00:08:58.760 |
It's not to say there won't be hard times, right? 00:09:00.560 |
There's going to be some cranky kids and some fussy flights, I'm sure, and some tiredness 00:09:06.800 |
and some wastes of money and some not fun days. 00:09:13.720 |
What I mean is that psychologically, it doesn't feel hard or scary or difficult to me. 00:09:20.280 |
And so we're heading into an open-ended trip with one-way tickets and no specific return 00:09:28.480 |
plan, and I'm going into it filled with confidence, knowing that I can do it. 00:09:40.240 |
Well, my answer is you're going to have to do it. 00:09:44.640 |
Your first time buying a house, when you're going into it, it feels so scary. 00:09:51.120 |
But then when you go into it, "Well, I could do that again." 00:09:53.720 |
You sell your house and hopefully make a little bit of money and, "Okay, that was good. 00:10:02.440 |
Imagine just something as simple as proposing. 00:10:04.920 |
When I was a kid, I always imagined how proposing to a girlfriend and asking her to be your 00:10:09.680 |
fiance would be the hardest thing in the world. 00:10:12.400 |
And then you kind of come to that phase of life, and it's not actually that hard. 00:10:15.640 |
But then once you've done it, once you've gotten married, I often think, "If my wife 00:10:22.920 |
You see people repeat this kind of thing all over the world. 00:10:26.240 |
And so it's only hard and scary until you've done it. 00:10:30.240 |
But once you've done it, it opens up the thrill of the thing to you, and you can take advantage 00:10:38.600 |
I've got some specific plans for our traveling. 00:10:46.920 |
I don't know how many audience members I have in Serbia. 00:10:53.400 |
We'll do a meetup in Belgrade if I can get there. 00:10:56.240 |
But what I do think a lot about is your opportunities. 00:11:05.680 |
And very much what I'm interested in is partly – I'm a big offshore and international 00:11:11.520 |
diversification advocate these days because as a performer – I guess technically still 00:11:16.640 |
a – I could still call myself a professional financial planner. 00:11:20.560 |
As a professional financial planner, it just solves so many problems for people. 00:11:25.480 |
It's simple things, whether it's offshore relocation, whether it's just simply banking 00:11:36.360 |
I'm amazed how little most professional financial advisors and most professional counselors, 00:11:44.480 |
countenance and such, actually know about offshoring. 00:11:51.080 |
Last couple of months, I'm part of a Facebook group that has a bunch of financial planners. 00:11:55.520 |
There was a financial planner that came in and said, "I've got this client – forget 00:12:00.920 |
– mid-20s, making a couple million dollars a year with an online business. 00:12:08.560 |
Here's his setup, blah, blah, blah, blah, blah. 00:12:10.320 |
Does anybody have any great ideas about how I can help him save money because his tax 00:12:14.320 |
I'm reading all these dozens of responses and it's just all the same old effective 00:12:18.480 |
stuff for US residents and whatnot, but kind of same old, same old. 00:12:22.400 |
I kind of piped up and I said, "Well, you ought to at least – I think you owe him 00:12:25.960 |
a professional obligation to let him know that he could run that business pretty much 00:12:30.680 |
100% tax-free if he just left the United States and put into place some offshore stuff." 00:12:38.920 |
Over the years, I've seen the magic of it and I've done the magic of it and I've 00:12:43.760 |
looked for effective solutions and I found a lot of the international solutions effective. 00:12:48.440 |
There are so many more places in the world today where you can make money. 00:12:50.800 |
Right now, my biggest thrust personally and professionally is in the subject of investments. 00:12:55.200 |
I am deeply frustrated with the US investment conversation because where we basically devolved 00:13:03.040 |
to as a society is the fact that you and I who have worked hard and who have saved our 00:13:08.280 |
money are basically – if we're to believe popular financial advice, we're supposed 00:13:12.760 |
to tuck it into a computer-run index fund and we're supposed to sit back and be happy 00:13:19.400 |
Meanwhile, we get 0.3% on our savings accounts. 00:13:25.120 |
I find that utterly unacceptable and I've tried to handle it over the years by focusing 00:13:29.360 |
on the value of investing in your own business where you can make thousands of percents of 00:13:34.120 |
rate of return if you have the right business opportunity. 00:13:37.440 |
But at the end of the day, even if you are in business, you still need a place to park 00:13:40.640 |
your money and you still need some better asset management strategies than just sticking 00:13:50.800 |
Long-term history of the US stock market is of course higher than 6%. 00:13:54.280 |
But then of course, there are legions of sophisticated, responsible people telling us we should buckle 00:14:02.660 |
in our pants and settle for low growth prospects in the future. 00:14:07.800 |
I think that's a uniquely Western constraint and there's no reason not to go and search 00:14:14.400 |
Now when I sit and look at my investing lifetime, I mean let's just do some math, right? 00:14:18.600 |
Let's just pretend you're 30 years old, right? 00:14:23.160 |
You've got $200,000 of present value in your portfolio. 00:14:29.560 |
You're investing $20,000 per year in between 401ks, etc. 00:14:35.680 |
And you've got a 35-year investment time horizon and let's put it in 6%. 00:14:50.400 |
You can have $20 million, $20.2 million at 12%. 00:14:55.120 |
Well, I'm not interested in sitting around and taking 6% if I can have 12%. 00:15:00.800 |
I'm willing to go and look for some more interesting markets and I'm willing to learn a few languages 00:15:04.160 |
and I'm willing to learn some new skills in order to get me to the $20 million instead 00:15:09.040 |
of the – and you hopefully – to the $20 million instead of the 3.whatever million 00:15:15.640 |
So those are some of my purposes professionally is that I'm going to be doing a lot of work 00:15:20.960 |
I'll of course be podcasting, creating videos, creating content, creating courses, talking 00:15:25.760 |
to you, teaching you, answering your questions, sharing what I'm learning along the way. 00:15:30.360 |
But I'm looking for opportunities because the world is full of opportunities for those 00:15:35.800 |
You can sit back and just wait and be shocked when only a couple of opportunities come along 00:15:40.640 |
or you can go look for them and be amazed at the sheer volume of opportunity that the 00:15:46.240 |
Now there's no question though that part of what we're doing is just fun, right? 00:15:53.520 |
I'm looking forward to traveling the world with my children, showing them the world, 00:15:58.280 |
I really appreciate the concept of world schooling. 00:16:01.400 |
For me, my experience traveling the world has opened my eyes to many things. 00:16:06.200 |
I really appreciate the concept of world schooling. 00:16:09.600 |
My wife and I, we do home education with our children but we don't fit into any neat bucket. 00:16:14.440 |
I just draw inspiration from different philosophies. 00:16:18.600 |
We don't have one easily definable philosophy that controls our approach. 00:16:23.080 |
But I really believe that there is value in exposing your children to the way it's done 00:16:26.760 |
in different places and to the opportunities that exist all around the globe. 00:16:33.040 |
And what is also very important to me is take advantage of the freedom that you have in 00:16:39.560 |
From my story, I've wanted to be a guy who could make his living on a laptop since I 00:16:47.920 |
I was a 15-year-old who was buying e-books about how to make money online. 00:16:52.760 |
Now it took me a lot longer than I ever thought it was going to be to figure it out. 00:17:01.920 |
But along the way, I've given up a lot of opportunities to keep certain kinds of freedom. 00:17:09.000 |
There is financial freedom, how much money you have, and that is a very important freedom. 00:17:15.280 |
Making more money will gain you a higher level of personal freedom. 00:17:21.320 |
However, I have sometimes made choices in life where I give up financial opportunity 00:17:33.080 |
And so I would rather earn less money but have full control of my daily and weekly schedule 00:17:39.760 |
and of my physical location than earn more money and be locked into a specific location 00:17:48.960 |
And yet when you do that, I think you really got to take advantage of it, right? 00:17:54.680 |
Over the last couple of years, I've been fairly stationary and I work on a fairly normal 00:18:03.720 |
And I've often wondered, "Well, Joshua, when are you going to take advantage of this freedom 00:18:07.160 |
Well, it's time to take advantage of this freedom that you have. 00:18:08.840 |
And I would encourage you, when life gives you opportunities, take advantage of them 00:18:13.080 |
because you can't always connect the time and the money. 00:18:16.760 |
But if you can connect the time and the money, just recognize there are some things you can 00:18:20.600 |
do in life that you can't do at a different time in life. 00:18:25.960 |
There are certain times at which you can spend time with your children and times you can't. 00:18:30.600 |
There are certain times when you can take a break from your career and certain times 00:18:34.720 |
And so you want to really focus in and do the things that are most appropriate at certain 00:18:41.760 |
Well, if you have a job, I encourage you, be prepared for when that job ends. 00:18:46.320 |
Take a little mini retirement, a few months off, maybe a year off. 00:18:54.120 |
That means save money so that when you get laid off, you have money in the bank and you 00:18:57.120 |
can take a little sabbatical and go and do whatever it is that you've been wanting to 00:19:01.200 |
Pay attention to those inflection points in your children's ages. 00:19:04.480 |
Maybe they're finishing up at their elementary school and they're enrolled in elementary 00:19:08.080 |
school but it only goes through sixth grade and they're going to have to change schools 00:19:11.680 |
Well, why not pull them out for a year and go spend a year bouncing around Europe showing 00:19:15.120 |
them the history of Western society instead of – and then go ahead and enroll them in 00:19:27.060 |
And so at the moment, we've got a good opportunity where it kind of fits in our life and timing 00:19:32.400 |
where we're going to go and travel and I think it makes a lot of sense. 00:19:34.680 |
Then remember this, that if you're looking for a way to travel and if you're interested 00:19:39.960 |
in long-term travel, remember that if the costs of travel are added to your current 00:19:45.840 |
cost of life, then those costs can be pretty substantial. 00:19:49.640 |
But if you can just simply replace the current cost of life with the cost of travel, then 00:19:56.060 |
So if you look at your home and you probably won't want to do like us where you give up 00:19:59.760 |
your home, but if you look at your home and you say, "We're going to keep this home," 00:20:05.280 |
Put it on a vacation swap, home exchange away kind of home away or home exchange kind of 00:20:16.280 |
Take some profit, go travel for a time and come back and buy another house. 00:20:19.960 |
Maybe you need to upgrade your house since that's a good time to sell a house and go 00:20:26.200 |
Don't be scared to do something just because you haven't done it yet. 00:20:28.840 |
Work your way towards it with little baby steps along the way. 00:20:32.640 |
So along the way I'm going to share with you a lot as much as I can. 00:20:37.520 |
I'll do my best to bring you really useful content. 00:20:42.600 |
When I go to Mexico, I am going to Mexico and I'm going to interview a Mexican immigration 00:20:48.600 |
I'll bring you an interview with a Mexican immigration attorney. 00:20:51.240 |
I did this with a Canadian immigration consultant and many of you went back and downloaded Brandon's 00:21:01.240 |
You signed up and started working with him and are in the process of building your offshore 00:21:06.160 |
I think Mexico is a really wonderful opportunity. 00:21:08.360 |
In fact, basically any North American who talks to me, I basically always say you should 00:21:14.200 |
That should be one of your first internationalization options. 00:21:16.640 |
And so I'm going to go to San Miguel de Allende and interview a Mexican immigration attorney 00:21:25.600 |
there and bring that interview to the show with you. 00:21:31.600 |
Also I'm going to be going to Andrew Henderson's Nomad Capitalist Live in Cancun in May. 00:21:39.440 |
I really respect and admire what Andrew has built over the years. 00:21:43.040 |
He was on Radical Personal Finance years ago. 00:21:46.520 |
All the way back in episode 67 in September of 2014, Andrew Henderson was on the show. 00:21:55.760 |
I have recorded the interview, just editing it and will be releasing that interview for 00:22:00.200 |
And then I'll be going to Cancun to Nomad Capitalist Live May 12 through May 15. 00:22:04.760 |
And then again following that, we'll be heading to Costa Rica. 00:22:08.080 |
I am planning, stay tuned for the next couple of days for the information to be up, but 00:22:14.540 |
One of the big goals that I had for 2020 was to start hosting more live events. 00:22:20.520 |
And I want to do these in the United States and elsewhere. 00:22:24.400 |
But of course, the pandemic made that difficult. 00:22:27.280 |
But I will be hosting a live event in Costa Rica in May. 00:22:32.120 |
So if you would like to brush off your passport, Costa Rica is totally open. 00:22:38.640 |
Coming in, they just have a simple health form that you can complete. 00:22:42.320 |
You will need to have health insurance, but that shouldn't be a problem. 00:22:46.640 |
So this should be an easy country for you to get to. 00:22:48.720 |
And then of course, you'll need to think about getting back into your other countries. 00:22:51.680 |
If you're going to the United States, you'll need a COVID test to get back in the United 00:23:00.080 |
And then, like I said, in June in the United States and then July in Europe, TBD as far 00:23:09.800 |
In closing, I would love to invite you to come with me on the journey. 00:23:17.360 |
Number one, I am launching a new text message opportunity to connect with me. 00:23:23.840 |
I want to encourage you to send a text message. 00:23:26.880 |
And perhaps you've been seeing this more and more people are doing texting, but I've set 00:23:31.680 |
up a thing where you can text me directly and it comes right to my phone and I'll answer 00:23:36.280 |
But I'm going to use text messaging as a way of announcing where I'm going. 00:23:40.000 |
I'm going to be using it as a way of announcing where I am. 00:23:43.640 |
And it just gives you a chance to ask any questions you want to have, et cetera, to 00:23:47.280 |
If you'd like to text me, I'll give you the number. 00:24:02.160 |
Send me a text message there and ask me any question you want. 00:24:06.040 |
Give me a hello and that will get you signed up for my text messages. 00:24:10.720 |
In addition, of course, you can sign up for the email list. 00:24:14.000 |
The best way to do that is go to RadicalBooklist.com, sign up for my Radical Booklist reading list 00:24:19.520 |
and that'll get you signed up for my email list. 00:24:25.560 |
In addition, please make sure to follow me on all of the social profiles. 00:24:29.440 |
One of the things I didn't do when we traveled around the United States is at the time I 00:24:35.000 |
I'm going to open up and I've walked away from a lot of privacy and I'm open up to a 00:24:40.240 |
So you can follow me on Facebook, Twitter and Instagram @JoshuaSheets on all of those 00:24:50.520 |
I'd love to follow up, be connected with you there. 00:24:52.320 |
Hoping to do some video and show you some interesting places, show you some interesting 00:25:00.600 |
In closing, in addition to those things, I just did ask you, I'd love it if you would 00:25:08.080 |
So wherever you listen to the show, if you listen on Spotify, if you listen on iTunes, 00:25:12.000 |
just take a moment and just drop a rating and a review, a couple of words, a few sentences 00:25:15.680 |
is great but that would be really, really helpful to the show. 00:25:18.520 |
I'm committed to continuing to serve you and helping the show grow. 00:25:21.680 |
I hope to see you this year on the road but in closing I would just encourage you and 00:25:25.520 |
say it's only hard, it's only scary until you do it. 00:25:31.400 |
And so if there's something that you want to do, start figuring out what are some micro 00:25:35.320 |
things that I can do to do certain aspects of this. 00:25:38.560 |
You may not be ready to get rid of all your stuff and say, "Oh, this is going to be easy." 00:25:50.720 |
But start taking micro actions in the direction of your dreams and I promise it's only hard