My Worst Investment Ever Podcast Andrew Henderson – Become a Nomad Now
BIO: Andrew Henderson is a lifelong entrepreneur, world traveler, investor, and founder of Nomad Capitalist. He helps other investors and entrepreneurs create their nomad strategy, go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom.
STORY: For Andrew, his worst investment ever was being born with US citizenship. He’s always felt that had he been born anywhere else, he’d have had an entirely different life. However, he kept staying because many people would call him a traitor and ridicule him whenever he wanted to exit that investment.
LEARNING: Go where you’re treated best. You don’t have to keep your citizenship for the rest of your life.
“There are 252 countries and territories in the world. The idea that yours is best at everything, let alone anything, is pretty egregious.”
Andrew Henderson
Guest profile
Andrew Henderson is a lifelong entrepreneur, world traveler, investor, and founder of Nomad Capitalist. He helps other investors and entrepreneurs create their nomad strategy, go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom.
Born and raised in the United States, Andrew left Arizona State University to start his own business. When his first business became successful, he started traveling a little. Within a few years, he began traveling at least half the time.
He noticed that even though he was spending over six months outside of the US, he was still paying 43% in taxes! The money he wasn’t giving to the government or spending on travel, he reinvested into other businesses in the United States. But this meant, as those became profitable too, they cost a lot more in taxes.
Andrew has spent over 12 years traveling to more than 100 countries, looking for and experimenting with the best places worldwide to employ offshore strategies and reduce your tax bill to nearly 0%. Andrew and his team dedicate their time to helping others get to this life of near-complete freedom.
Worst investment ever
For Andrew, his worst investment ever didn’t come with a choice – his US citizenship. He’s always felt that he’d have had an entirely different life had he been born anywhere else, say Canada. However, he kept staying because many people would call him a traitor and ridicule him whenever he wanted to exit that investment.
But when Andrew realized that he was paying tremendous costs to be in the US, he eventually left and started his nomadic life.
Lessons learned
- Go where you’re treated best. Don’t hang around with a bad investment that’s not serving you just because there’s some dominance in that market.
- Build your infrastructure faster when you decide to be nomadic.
Andrew’sAndrew’s takeaways
- Your citizenship is an investment ultimately given to you at birth, but you don’t have to keep it for the rest of your life.
Actionable advice
There’s nothing wrong with lowering your taxes, and there are always options to get your taxes to zero. If you’re a risk-taker, you can take more risks, hire a lot more people, contribute a lot more, and give a lot back by lowering your taxes.
No.1 goal for the next 12 months
Andrew’s goal for the next 12 months is to build the vision for his team and build a bigger and stronger team of leaders.
Parting word
“Are you in every part of your life going where you’re treated best?”
Andrew Henderson
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Connect with Andrew Henderson
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points