Making Six Figures While Living Abroad (NO W2!) to FI Even Faster
Description
Would you move abroad to reach FI faster? That wasn’t Brooklin Nash’s original goal when he left the US and began freelancing from afar. But now, years later, he realizes how much of a leg up he has financially by going all-in on “geo arbitrage.” He’s saving a boatload in Guatemala, paying less to live the life he loves, and enjoying a tiny tax bill. Now in his mid-thirties, he’s already Coast FIRE and works when and where he wants.
But Brooklin’s money story didn’t start so stable. Being raised in a home with “risky” finances, to say the least (pyramid schemes, gambling, etc.), left him scarred and constantly worrying about keeping enough money in the bank. Thankfully, he changed his ways and realized that making money, rather than just saving every cent, was crucial to becoming financially free.
He’s paid off a significant sum in student loans and did it all while making a very meager income. Then, he scaled from freelancing abroad to building an entire business, making a phenomenal income while living in a low-cost-of-living area. He’s living his dream life outside the US, making more money than Americans at home. Imagine what THAT can do for your FIRE number!
In This Episode We Cover
Using “geo arbitrage” to save more, invest more, and lower your cost of living
An almost unbelievable income tax exclusion Americans abroad can access
How Brooklin paid off $80,000 in student debt (even on a lower income)
Turning your freelancing work into a full-blown (and VERY high-paying) business
Why the optimal FIRE lifestyle may actually include working a few hours a day
And So Much More!
Links from the Show
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The Best (and Worst) States in the US to Retire in 2024 (FIRE Faster?)
(00:00 ) Intro
(01:00 ) Pyramid Schemes, MLMs, and Risky Bets
(04:35 ) Paying Off $80K Debt
(10:30 ) Finding FIRE and First $100K
(14:19 ) Freelancing to Boost Income
(16:40 ) Building His Business
(20:11 ) FIRE Progress
(26:40 ) Why Live in Guatemala?
(30:54 ) Investing from Abroad
(32:43 ) Geographic Arbitrage 101
(38:19 ) Connect with Brooklin!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-582
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