Nomad Capitalist provides personalized advice on the best options for managing wealth and investments for high-net-worth individuals. Our holistic strategy covers all aspects of life, including legal tax reduction, lifestyle boost, and financial freedom.
We believe that investing in your own happiness is the best investment possible, and we help our clients enjoy a better lifestyle while better managing their assets. Apply here to become a client.
Invest in Happiness
There have been endless articles written analyizing all investment options. And, of course, there is rarely a definitive answer to what is “best” because there are many variables, inherent assumptions, and individual investors’ personal preferences and priorities.
But another form of investment pays an intangible dividend and is the greatest investment possible: An investment in your happiness.
Several studies have examined the so-called Easterlin Paradox, which basically argues that the things purchased with a rising income deliver disproportionately less happiness.
Stated another way, one vehicle might bring you considerable happiness, but a ninth car in your garage will bring less.
Having $100,000 liquid cash in a safe place will make you happy, but having $150,000 won’t make you 50% more happy.
A result of this phenomenon is that if, instead of buying a ninth automobile, we use that same amount of money to purchase an intangible experience, we ultimately rank that experience as far more valuable and for a longer period of time.
According to research, learning a new skill, like a foreign language, becoming a pilot, traveling, or composing music, and connecting with others will deliver more happiness than physical possessions.
Invest in Yourself
This is a phenomenon that many expats have discovered through first-hand experience, without academic investigation.
Expats automatically make an investment in their happiness.
We don’t mean that they move their income and assets to safer places, although that’s also something that increases their peace of mind and, therefore, their happiness. We mean that they thrust themselves into a higher level of adventure.
Expats see more interesting places, have conversations with more interesting people, try more new things, and have more new experiences.
The truth is, not every new thing is enjoyable. However, psychologists have noted that we tend to value even our negative experiences as time goes by. That scary experience turns into a great story to tell or a reassuring mile marker of when our character was built up another notch because of the trial. So, virtually every adventure ultimately delivers a profit.
Many happy memories have the characteristic of becoming even more cherished and valuable to us over time. Every traveler has experienced returning to some location from a previous visit only to find that things have changed. Hotels are different, restaurants are gone, opportunities are no longer available, and suddenly, our old experience takes on increased value.
Invest in Connections
Moreover, most experiences involve interaction with new people, which means expats increase their connections with others. Some of these connections evolve into valuable friendships that further increase our happiness.
Since many of these new friends come from different countries and cultures, we receive enrichment in our perspective, which isn’t as likely to happen when we make a new friend in our hometown.
It’s virtually impossible to find someone who says, “I spent many years traveling the world and living in several countries, but I really wish I hadn’t.” It’s well established that people who travel and live abroad value the experiences enormously and for the rest of their lives. There are thousands of “things” you can invest in. There are many thousands more you can buy just to make yourself happy.
But very few have the long-term track record of delivering returns of maximum happiness and satisfaction that carefully selected personal experiences can deliver.
A satisfying personal experience and the enduring happiness it creates can’t be taxed. It can’t be regulated. And it can’t be confiscated. That’s what we call a good investment.
Nomad Capitalist started when our founder, Andrew Henderson, went to find places that personally worked the best for him. What he realized was that he could enjoy a better lifestyle while at the same time making more money.
Why settle? What does it mean to go where you are treated best?
If you are ready to prioritize your happiness and immerse yourself in new adventures, meet interesting people, and gain new experiences, contact us today, and we will help you go where you are treated best.