Thank you sooo much Peter!!! love this video and i think you summed up things very well. Super informative and very generous of you to give us such valuable information....subscribed and God bless you....
We have seen many video I usually skip or fell asleep in middle of the way, but this is something different, showing the right direction , moves towards achievement , the integrity and dedication on your nz road trip really sparks the light of travel lifestyle , that smile from your both just automatically brings the sunlight from a cloudy day solid efforts man.
Thanks Kain really appreciate that message glad we're able to bring some joy through our videos. Once we are able to travel again promise I'll make another one of these financial videos too my goal was always to make them in really cool unique locations around the world 😂 have an awesome Xmas and a happy new year!
@@PeterandYen you guys brings more than just joy from your video, as far as destiny concern i think we both have an identical life, came to nz with family when we young, parent working most their life to raise our schooling, certainly not an easy journey now me and Katie aiming to retire before 40, and hopefully we can do bit of travel like you guys with fun activities and making videos of road trips.
Wishing you and Katie all the best in hitting that goal 👍 that's cool as that you have a similar childhood to mine it, I'm guessing you'll know exactly where I'm coming from in these videos 😅
It's so important to think about this stuff, and sadly most do not; it's great you're working this content into your RU-vid videos for others to benefit from! Keep up the great work guys with inspiring others to travel and take care of their finances!
Thank you guys! Appreciate the support. I really do hope this series of videos will help people. Whatever knowledge I have in this space it's something I want to pass on.
This is a educational video, Peter. No doubt you both did your homework and it’s definitely something some people will not do or are able to do. But I agree, if one starts now.. every penny counts. I love where you both take us on your journey to film, and the background while you were filming was so eye catching. Thank you for sharing with us. Stay Blessed and please give my love to Yen ❤️❤️
Thank you so much Faye. You know you have a real way with words often yen and I read your comments aloud to each other. They always make our days a lil bit better like walnuts on a cheesecake or lime sauce on tarantula hahaha 😂 but really though thank you for always supporting and blessing us much love ❤
So cool you picked this location to make this video. Owning a property that we can rent is something we've always wanted to do. That's a good formula Peter. Partial retirement is something we would love to do as well. These are all wonderful tips and so cool you guys are taking the time to help other people follow their dreams.
Thank you guys! If there's one thing that would make me super happy from making these videos is that a few years from now someone comments that they managed to achieve financial freedom and they got the idea after watching these videos. Everyone's path will be different so I wanted to give everyone some ideas on what they can do towards passive income on this one.
😊👍 sounds like you related to the life hacks section the most. I'm always interested with these kind of videos to hear what people thought were the most useful parts.
Thank you for the support Siqly it's both yen and my nature to keep trying different things and RU-vid is the perfect outlet to allow us to be creative with different topics. Have a great weekend ahead 😁✌
Really interesting topic! I actually originally found your channel through one of your other FIRE videos - your retiring early to travel is so inspiring! Love the focus on 'what makes you happy' 🙂
I think that's one of the most important things someone can figure out for their lives and that's why I gave it so much emphasis. Thank you for the comment and the support glad you enjoyed it 😊❤
@@OurTravelPlace yup definitely still have quite a few things I would like to cover but will make these when we get to other interesting destinations 😁✌
Much better than all those cost of living videos. I can live in Vietnam comfortably on less than $1000 a month. I love the local street food and rarely eat western cuisine when there. Some people prefer to stick to a western diet and pay more as a consequence. It's an individual choice. Just because I can get by cheaply doesn't mean someone else can. It's all about your own priorities. I'm just happy to be in such an exotic and vibrant place that's safer than home in Oz. I don't seek the hi end life even though I could afford to indulge more.
That's one of the reasons Vietnam is one of our favorite places to travel. It's affordable but at the same time one of the most enjoyable countries we've visited so far.
Personal finance knowledge is so important, I would say a necessary life skill. The only problem we have is the currency :( In MYR, we need to earn 4x more (compared to USD), so it's almost impossible for people earning an average wage to retire early in Malaysia. I totally agree with your all points there no matter which country we're all living in! Probably except traveling to a cheaper country for us, especially when the country I live in is the "cheaper country". But love your advises Peter!!
We always think about that. It's so unfair. After quitting and having the travel life we have, no way we are going back to Europe or even Seoul! That would kill our finances! Our dream of travelling the world one country at a time changed more into "stay and enjoy cheaper countries", because stepping into AUS or USA would totally break our plans!
Yo guys totally understand your struggle. It is much harder doing this from Malaysia for exactly this reason. I believe if I was in that situation I would focus on how to earn money in global dollar sense even though I was in Malaysia. I.e gain a skill that had a globally competitive salary or alternatively most likely purchase things that are common place in Malaysia and sell for a higher margin to those who want it from other countries. Or capitalise on markets that aren't discounted I.e tourism. Unfortunately I can't fully put myself in your shoes but I do believe every country has something that just needs to be tapped into.
Mean video Peter! Very informative & easy to understand. My husband & I are always thinking of things like this. We’ve got 2 dependants though which make it a little harder haha. Definitely post more videos like this in the future👌🏽
Thanks Gen! 2 kids definitely make it a bit harder. I've calculated before that each kid costs around 400k New Zealand dollars to get them through from birth to university. So that could have gone a long way with the savings. But you and your hubby are in the right head space so hope y'all get there 🤞
useful tips! thanks for sharing and dropping this surprise mid-week! btw, how did you come with the idea of shooting this in Angkor city complex? This might be the best background for a video of this topic! 👍
🤠👍 I came up with the idea to make a series of these kind of videos from remarkable locations all around the world. Just to keep what can be a lil bit of a dry topic more interesting.
Love spreadsheets! I have worked with spreadsheets as well to make this dream happen. Lieles says I'm crazy and I overplan but this is the best way to make sure everything fell into place
Hahahaha you're so much like me in that regards then Maria! When we meet up eventually let's have a look at each other's spreadsheet would love to see how others do it. Over the years mines now evolved into a monstrosity.
Really informative video! Passive income is the ultimate goal. So true it was a little hard for me to let go of some of my things too. I think travelling helps a lot.
Great tips Peter! Did you previously work as a financial planner? ^^Passive income is a really great way and the formula is on point :) and such great place to shot this video ^^
you guys really open my eyes of my future retirement...i have alot to think about now...i never thought about passive income till i watch your video maybe because ive yet still decided to look ahead for the next 20 years which is a mistake ..great video and advice this is a huge wake up call! all the hypebeast cloths i buy..man i could of saved for my investment..ahh
Never too late to start bro! We have a five tips to retirement video which you might find useful too. But my goal with this series is to help people reach financial freedom too. Everyone's path will be different but it pays to sit down think hard and plan right now.
Very informative video. This video randomly showed up in my feed today. It was a pleasant surprise indeed. I am 17 years old. I plan to go to college next year. I will work for a few years upon graduation and then retire early like you to travel the world
Best of luck Thomas 👍 When you're young and you already know what you want in life that's one of the biggest parts to reaching your goals. Stay focused and you'll get there mate 👍
Yes. Passive income is totally what I've been working towards for the past few months! Unfortunately I've got a long way to go hahaha thanks for sharing guys 👌🙏👍😁
Definitely no easy feat. Takes a long time and requires a lot of hard consistent work. Keep at it and in your weakest moments picture how great it will be when you reach it and eventually you'll get there ❤
With all the money printing going on by central banks around the world now it'll be difficult to maintain that 4% when the purchasing power of your savings is being devalued by the minute. Did your folks ever pass on the value of keeping some savings in gold bullion to maintain purchasing power? This is still very much a thing in Asia that has been virtually forgotten by most in the west (despite early NZ settlers, including many Chinese immigrants seeking their fortunes in Central Otago gold fields). Fun fact (or not so fun..) the NZD has devalued 60% against gold in only 5 years. That averages 12% per year. Assuming you had worked 240 days per year over those 5 years that's about 28 working days per year of work effort gone with monetary inflation. And it's only gonna get worse. Gold: get some!
Caveat: my comment above applies to savings and storing and maintaining value once you have it. All your comments about passive income and the importance of cash flow are spot on. The only thing to be mindful of is say a stock market that is rising but the currency value that these stocks are priced in is depreciating. One only needs to look at the stock markets Venezuela or Argentina to see how stocks appreciated in the local currency while the country was going through a hyperinflationary event making their paper currency worthless and those stocks too if you chose to cash out.
Hi Pete, I think you and I must see very eye to eye on the general way this economy is going. It's actually me that got my parents and yen's parents into holding on some gold. In times of great printing by our world governments it's the only thing that will truly keep its purchasing power. I've always believed in keeping at least 5% of your portfolio in precious metals and up to 10% in current conditions.
Passive income is always the goal. I'm still trying to get as much as I can. But owning property seems to be the best way of having it and in Toronto... yeah.. lol no chance
If Toronto prices are too high there will always be places further out of town that will be more reasonable. Passive income is definitely the most important part of being financially free ✌😊 all the best in getting that home!
Hi Peter and Yen, So the key is to come up with a magic number let say $750,000 and work towards saving $750,000. Then invest in an asset that generates 4% income, if the desired number is to live off $30,000 a year. Question: how much % should you save from pay cheque? I only make $65k (gross salary p.a.) in Auckland, should I try and save 40% of that?
Hi Danny, yes you totally got it. Just need to also note that 30,000 will be taxed in New Zealand so you'll need to account for that too. I was going to make a very detailed video about savings in the future but in the meantime here's the content 😁 I find what worked for us is putting aside $400 every fortnight as your fun money which needs to pay for eating out, clothes, movies etc. The rest of your money gets saved and pays bills mortgage or rent etc. If you manage to keep this even as your wages increase your rate of saving will go faster and faster.
Also yen n I saved 70% of both our salaries at a minimum and as our salaries grew we increased that percentage. Had to sacrifice a lotta stuff at the start but it was worth it.
It was a great calculation and you are lucky to have earned this position now. And rightly said by traveling you actually save more specially in most of the South Asian countries, because you earn in dollars. But think of those who earn in kyat, INR, vnd and the like. Give some tips for them too. Wish you good luck for your upcoming trips too. Would love to see more of your vlogs.
Hello thank you for the suggestion. I absolutely think that it is a much different strategy for people in that situation and I will make a video on that topic sometime in the future. Appreciate the support and we've got a vlog coming this Sunday 😁✌
Hi Peter and Yen, love your travel and food vlog! Perhaps this video might be better placed under a different subscription account on RU-vid? "Peter's financial advice"? ... No offence, but subbed to your channel for the food and travelling 😊cheers!
Hey mate no offense taken at all and thank you for supporting us. My angle on making these videos is to create content that can help others achieve financial freedom and potentially travel the world too because of it. These will only ever be bonus videos from time to time as our regular Sunday food and travel videos will always be the main purpose of this channel 😁👍 These bonus videos we usually post midweek and they're in their own playlist too. Cheers!
Sorry I don't quite agree. This also means that you can't have kids as well because of your constraints on finances. Are having no kids making you happy? You have the next 50 years to travel all around. Isn't this boring?
Yep, we're very happy without children. Having kids is not for everyone. It's a really personal choice and not part of everyone's life journey. People who do want kids can still achieve financial freedom though. The same concepts still apply although realistically it would take some/most people longer to reach their goal. We know couples who have though who do have kids 👍 For us personally however, neither of us ever wanted kids. We love that we have each other but also time and freedom to enjoy living life the way we want. Time is so precious. We're happy and grateful to be able to spend it together as well as with our family and friends too. We love traveling and seeing new places, experiencing other cultures, eating their cuisines, soaking in beautiful nature etc 🙂 Don't find it boring at all. One day (if we're lucky to reach old age since no day is guaranteed) we may not be able to travel quite so easily so we're glad to be able to while we're still healthy and young enough to.
