Andrew drives the point home on why you really, really have to put a price on what your second passport is worth to you. What is your return on investment if you were to get a second passport? What are some of the pitfalls of getting a second passport? You wouldn’t walk into a dealership or a brand new home and not know how much you’re willing to spend, would you? The same principle applies to your passport. Know your numbers!

Key Takeaways:

Andrew’s Editorial:

[1:40] What’s the ‘real’ return on investment on a second passport? .

[4:35] Do you want a second passport? What are you trying to protect?

[5:45] Do you know what the real costs, or perils, are to having a second passport?

[6:05] On a positive note, what are some of the upsides to having a second passport?

[6:55] You don’t buy a house without knowing how much you’re willing to spend. The same is true for your passport. Know your numbers.

[10:20] What would be the negative cost if you were to renounce your current citizenship?

[10:25] US citizens are tired of being taxed when they don’t even live in the US.

[13:50] You have to know the pros and cons as to why you should/shouldn’t have a second passport.

[18:00] If there is no ROI involved, then ask yourself why you’re doing it.

[18:35] It’s #NomadWeek at The Nomad Capitalist. Check out the website for more info.

Interview:

[20:15] How did Mark become an entrepreneur?

[22:25] Learn from the mistakes of others.

[23:15] What makes a good entrepreneur?

[24:10] Did Mark ever have a big ‘ah-ha’ moment? Why did he move overseas to start his business?

[27:35] Andrew feels a bit sad when he visits Japan.

[32:25] What kind of flags has Mark planted in Japan?

[34:25] Mark talks about the process of living in Japan and things to look out for.

[37:00] Surprisingly, Japanese women and men over 50 are willing to take risks and change the status quo.

The Lightning Round:

[38:50] One business – exportation of Japanese technology to China and Hong Kong.

[39:20] One country – Canada.

[39:55] One book – A Treatise on Leaders by Mark Lee Ford

[40:15] One tool – Philosophy.

Listener Question:

[42:35] Does Andrew have any advice on cat rescue? Listener wants to transport a cat from South East Asia back to Europe.

[43:20] Get your cat a pet passport.

[44:15] Your pet will have to be quarantined.

[44:25] Unfortunately, you’re better off trying to find a good home for your cat.

Mentioned in This Episode:

https://www.nomadcapitalist.com/

[email protected]

http://www.moneo.jp/

A Treatise on Leaders by Mark Lee Ford

Nomad Capitalist Live
Last updated: Sep 17, 2021 at 7:55AM