BiggerPockets Money Podcast

Making Six Figures While Living Abroad (NO W2!) to FI Even Faster

Nov 19, 2024

Brooklin Nash, a freelancer and agency owner, transformed his finances by embracing geo-arbitrage while living in Guatemala. He shares how he turned a meager income into a successful writing business, all while enjoying lower living costs and tax benefits. Brooklin reflects on overcoming a challenging financial upbringing, including paying off $80,000 in student loans. He emphasizes the rewards of balancing work with a fulfilling lifestyle abroad, showing that financial independence is achievable without a traditional W-2 job.

45:57

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Episode guests

Brooklin Nash

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Episode notes

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Quick takeaways

Brooklin Nash's journey underscores the importance of an abundance mindset over frugality to achieve financial independence and stability.

Utilizing geo-arbitrage allowed him to significantly reduce living costs while generating higher income, enhancing his financial well-being abroad.

Deep dives

Breaking the Cycle of Financial Instability

Brooklyn Nash discusses his upbringing in a financially unstable environment, where his parents frequently engaged in risky financial behaviors, such as pyramid schemes and speculative investments like penny stocks. Their attempts at frugality often countered these actions, leading to periods of significant financial upheaval, including bankruptcy and forced lifestyle changes. Observing these patterns instilled in him the lesson that financial stability requires a balanced approach between saving and increasing income, a realization that took time to develop. He emphasizes that his parents focused excessively on frugality, which ultimately limited their financial growth and led him to seek a different path.

Intro

3min

Navigating Financial Philosophy Through Upbringing and Debt

3min

Navigating Freelance Living Abroad

7min

From Freelance to Agency: A Life Abroad

11min

Strategizing for Successful Real Estate Investments

3min

Balancing Work and Lifestyle in Pursuit of Financial Independence

16min

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

Mindy on BiggerPockets

Scott on BiggerPockets

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