Why I Have Zero Debt

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www.nomadcapit...
This is the story of why I have absolutely no debt.
Many financial advisors and RU-vidrs suggest using leverage to build wealth through mortgages and other "good debt".
However, as a global citizen, not only is debt harder to come by, but it's simply less desirable for my lifestyle.
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ABOUT NOMAD CAPITALIST
Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".
Work with Andrew: nomadcapitalis...
Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.
He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.
About Andrew: nomadcapitalis...
Our website: www.nomadcapita...
Subscribe: www.youtube.co...
Buy Andrew's book: amzn.to/2QKQqR0
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

Опубликовано:

20 сен 2024

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Комментарии : 122

@antoniochevalier797 2 года назад

No debt is the Greatest Feeling in the World

@BaliBrit 5 лет назад

We bought several properties off plan giving us around 2 years to pay for each one, it kept me motivated and instead of the 25 year normal time frame we did it in 2/3 years, You are the first young guy thats recommended no debt, I like your style Andrew

@geometron3646 2 года назад

where at?

@BaliBrit 2 года назад

@@geometron3646 Malaysia and Indonesia

@BaliBrit 2 года назад

PS since that comment we have actually taken on some good debt BTL in the UK

@robmunro2815 5 лет назад

Can you please lower the volume of your intro and increase/standardise the volume of you presenting?

@JHillMD 4 года назад

Rob Munro Agree. My eardrums are nearly shattered and my acoustic nerve fried wearing headphones when the blaring intro comes on.

@dragonofparadise 5 лет назад

Debt is a easy way to go bankrupt. When you have no debt payments you can invest more of your money.

@gu3sswh075 4 года назад

Seyphie123 but it depends what type of debt you're talking about. If you're talking about taking a bank loan, as debt, that you eventually make money off of. That's actually a much better option than using 100% of your own money especially if you can get some loaned out that you pay back

@matthewwolf3531 3 года назад

Debt is also a way to leverage your ability to make money. Its a double bladed sword that must be wielded wisely.

@jeremywright5036 2 года назад

Debt is also an easy pathway to wealth. Depends entirely on how you are using it.

@attilathehun2537 5 лет назад

The borrower becomes servant to the lender.- I think its written in the Proverbs or the Psalms

@alexc5369 5 лет назад

Slave to the lender

@NateshasAmbience 4 года назад

Slave or servant - it depends on the version you’re using.

@robertmills794 3 года назад

Proverbs 22:7 biblehub.com/proverbs/22-7.htm

@aliasgharkhoyee8911 3 года назад

This is a really under-appreciated lesson in the west, and I hadn't realised it either: debt drives up prices. It does the opposite of higher prosperity for societies, when basic things like houses become unaffordable.

@abdelmoutalebramoul7264 5 лет назад

I was exactly thinking about this, and you just validated my approach on debt and acquiring goods whether overseas or in home country.

@MgtowRubicon 4 года назад

40 years ago, I bought my first duplex at 13% annual interest, 100% fully financed. I lived in one side and rented out the other side. I did alright, because my tenants paid my mortgage and I lived there for the cost of utilities for my side.

@awakening80 3 года назад

No debt on Real Property is a great feeling. Collecting income on debt free property is a great dividend. There's good debt & bad debt but my favorite is no debt.

@klwthe3rd 5 лет назад

Excellent points are made in this video but sadly a lot of your audience don't have the full cash price for a home. A lot of the subscribers on this channel love the nomad capitalist lifestyle but need that financial help getting to that reality.

@ashsqx3246 4 года назад

Correct

@ludwigvonmiseswasright4380 3 года назад

Wealth is a burden. Perhaps those who are not able to build their own wealth, are also not responsible or wise enough to be managing these expensive properties outside their price range. I say this as someone who is still learning how to build wealth. This past year I've learned how to sell things on Facebook Marketplace. This was a huge mental shift for me. Previously I've only ever brought money into my household by working a shift for an employer. The poor do not need more access to credit. The poor need to understand wealth building the way the rich do.

@PUTheHUEinHUMAN 3 года назад

Define ‘financial help’ ?

@ronwhiteleo3352 4 года назад

the number 1 cause of bankruptcy is debt... .

@nomadcapitalist 4 года назад

True.

@dlukton 5 лет назад

Yes. Government backing of student loans (in the US) has caused universities to raise tuition prices to absurd levels. Similarly, government programs designed to encourage home ownership in the US (e.g., Fannie Mae, preferential treatment of capital gains, and tax deductibility of interest) has caused house prices to be much higher than they would have been without such programs. Government involvement in those markets hasn't necessarily improved matters.

@mechmo1463 5 лет назад

Interest is the opposite of charity. It crushes growing business and unethically makes the poor poorer and rich richer

@ludwigvonmiseswasright4380 3 года назад

True, however it is necessary when the government is devaluing the currency. I suppose its a case of two evils. Not, that it's right, but why loan money for no interest if the government is creating inflation at 7% a year?

@misteuraxe691 4 года назад

'why' is pretty obvious. it's the 'how' that gets people interested.

@MgtowRubicon 4 года назад

Debt *TENDS* to drive up prices? Debt *ABSOLUTELY* drives up prices of EVERYTHING.

@ITOXIC_YT 5 лет назад

In summary: best to use debt in the west for leverage, when overseas buy with cash

@rubensnogueira3199 5 лет назад

that sounds enticing but it's very dangerous if you don't earn money in the debt currency: as soon as the forex rates go against you, your debt can easily grow out of control.

@ITOXIC_YT 5 лет назад

Rubens Nogueira yes I assumed living and earning money in the country whilst using the debt

@pablosabhlok 3 года назад

Debt is dangerous in the west too. Interest rates will go up eventually.

@seneca983 3 года назад

@@pablosabhlok I hear in the US fixed rate mortgages are the norm so there's no interest rate risk.

@t.l1357 5 лет назад

I am debt free and it's an amazing feeling!! Exciting about investing now!

@naillijseer 3 года назад

Yes the feeling is important.

@feliciapondexter5018 5 лет назад

Let me say that the new intro is really cool. Thanks for the video it was very informative. Something to make people understand what they can do and how they can do it. Have a good night.

@nomadcapitalist 5 лет назад

Thank you, Felicia

@MgtowRubicon 4 года назад

@@nomadcapitalist Please reduce the loud volume.

@PujaInfoTV 5 лет назад

Wow! New intro! Looks great. 👏👏👏 Thank you for the video.

@JUSTTHETRUTHTV 4 года назад

Your right! Debt is how the government keep the economy growing when there is not economy~ And you say they your not a economic major? When interest rate are 0 and bank rate are 30% 40% you know the country you live in has a dead economy! USA England etc

@maxnazarov4235 4 года назад

I have no debt as well but in public i will lie and say i have student loans and/or car payments just to blend in. I've noticed that when people find out that you have no debt their whole demeanor changes and they start resenting you. Instead what I do is pretend to have debt but secretly build my wealth debt free.

@naillijseer 3 года назад

😂yes I always pretend I have no money.

@peten409 5 лет назад

Great information and perspective.

@whoknows1408 5 лет назад

Great input...thanks a ton as usual Andrew

@nomadcapitalist 5 лет назад

Our pleasure.

@user-wx5oi8vl2v 5 лет назад

Thanks Mr Henderson keep it up

@GleeSmee 5 лет назад

Yes, although the easy availability of credit in the US, its streamlined lending procedures and deep capital markets, are reasons why entrepreneurs might think twice about relocating overseas. You can only get so far in business with your own equity. To scale up to the next level, you need to add other people's money, either by taking on investors or debt.

@nomadcapitalist 5 лет назад

There's certainly an approach for everyone.

@SolomFoz 5 лет назад

Great new intro 🔥🔥🔥

@nomadcapitalist 5 лет назад

Thank you!

@linglee5759 5 лет назад

Problem been a Nomad is you do not build any strong foundations anywhere. You need to build a base somewhere first and then be Nomad to move around.

@palorezca9069 5 лет назад

You wouldn't be considered a true nomad, just a tourist

@naillijseer 3 года назад

@@palorezca9069 I don't think ideology matters

@prettybrwneyez7757 Год назад

No you don’t

@davidduffy2046 3 года назад

Easy; Spend less than you make

@elmonty_1812 5 лет назад

I like the new intro

@Muzammil.S 5 лет назад

Startup volume could be lowered a notch.

@johnm9222 5 лет назад

Uuuufff I love the new Intro

@Wooduck 3 года назад

I don't owe a dime to anyone!!! What is the percentage of the population that are totally debt free, or better question how many people owe somebody money? The more who owe money the bigger the slave state. The slave state is run by who? Identify them and you will understand how money and power work.

@avemariaforreal 5 лет назад

This guy is a legend.

@victorgazda9527 4 года назад

The Problem is ..you need to Work for your "real" money.but the Central Banks Just Press the Button for printing.thats why so many big buisinesses ask themselfs "what Not get the Money die free"...(Like property loans -ca.1% p.a.!)so they use this financial Tool to generate more and more Cashflow...All companies ansninvestors are in debt.-thats the Part of MMT (modern "marxistic" monetary theory).however AS kiysaki says:" Central Banks are lending not spending"

@ldandco 5 лет назад

0:12 because you don't need to ? I must say, very informative video, thanks so much

@nicholastracy4915 Год назад

Currently debt free thinking I may stay this way besides credit that I use and pay off monthly. Accumulating cash is not too hard, takes longer than using leverage but doable

@UltimateBargains 3 года назад

Acquiring control with seller financing and master lease agreements (allowing you to sublet) are generally universal. Control is often better and less risky than ownership.

@jordanwentzell5220 5 лет назад

Interest rates are higher in emerging markets, but so are yields. The time value of money is simply much greater where capital is scarce.

@YarikSychov 5 лет назад

Intro is cool, I like it 👌 Thanks for the advice, good to know it all. Tivat is a good choice, arabs know where to invest

@nomadcapitalist 5 лет назад

Thanks, Yarik

@YarikSychov 5 лет назад

@@nomadcapitalist Andrew, it seems like I'm travelling around the same destinations, would be great to catch up with you one day. I've been following you for a while now, always great and valuable information.

@grapplerke 5 лет назад

There’s good debt and there’s bad debt. The debt that Berkshire and Apple have are very good debt. If you can get a 30-year fixed in the US at 4% and below, it’s really good debt. Even if you can buy a car with zero down payment, 5 year zero APR brand new car with great resale value like a Lexus, it’s really good debt. The goal in life is to not own any BAD debt like student loans and credit card debt.

@ddillard143 5 лет назад

Technically good debt and bad debt is determined by whether or not that debt was to purchase an asset. Meaning an income-producing vehicle. Such as real estate or a business or a car if you are a taxi driver or rental company

@ThomasStYeng 5 лет назад

No such thing as good debt; agreed, debt secured by assets is less bad. Everyone always sees cheap money and leverage without considering risk.

@kimjong-un5562 5 лет назад

Why not save money and buy a house with cash in like 7 years . Just rent till then

@grapplerke 5 лет назад

Kim Jong-un Because during this time of the 7 years your mortgage payment is about the same as your rent would. With something as little as 15% down payment you’ll own the house in 30 years. If you need to borrow against your equity for any loan or purchase in the future, you can do that as well. Renting in America in a city that you and your family are going to live in is just throwing money down the drain. It’s simple math. It’s like asking why it’s better to finance a car than to lease one. Leasing is no cheaper per month than financing and in 5 years you get to own the car through financing, which then you can sell on the market. A good car like a Toyota or Lexus will still retain half its value. A good home will double its value (at least keeping up with inflation) over the long run. On top of that you can write off your mortgage, but you can’t write off your rent.

@kimjong-un5562 5 лет назад

@@grapplerke I'm not in debt and it's way better bro . if ur not saving 13-17k a year to be debt free .. 300k saved is around 16k a year for free ... u don't build wealth with debt , proof is the people living check to check

@arjunghose2868 5 лет назад

They say you need to find the right Guru. I think I have found my Guru. Just like in the epic Mahabharata Arjun got his Guru Dronacharya . I have found my Dronacharya right here. This is Arjun Ghose

@naillijseer 3 года назад

Take advice but don't follow gurus. All men are equal my brother.

@BucketListTravellers 3 года назад

Interesting insight about the paradigm shift moving from Western countries to other countries. I can see the liquidity advantages of being free of debt.

@pkREX24 3 года назад

Hey andrew can you do a video answering this question? If you own a home in full in one country can you use it as collateral for a loan in another?

@alexjoneschannel 2 года назад

@robancoban2310 5 лет назад

You said that you are looking for some land to build a home, does that mean that you will settle?

@nomadcapitalist 5 лет назад

Unlikely; just to build a custom home rather than an apartment in that place.

@robancoban2310 5 лет назад

@@nomadcapitalist I've seen your videos about cheap property in Vojvodina, but ever thought of Fruška Gora?

@User0player1 5 лет назад

is someone claiming anyone has debts? if so then please provide the evidence to support that claim.

@danielclayton3170 3 года назад

Oh an I love your intro music

@rubensnogueira3199 5 лет назад

I broke the "like" button

@WallStreetIceCream 5 лет назад

can you make a video for business ideas

@nomadcapitalist 5 лет назад

Here are three videos to start: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-nQIGrzH0t_k.html ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-SDWLnKzoPNI.html ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-cJdUg2wngLs.html

@Faji9r Год назад

How can I get out of debt? I I stop paying my credit card bills.

@sweedyfelghorba9481 5 лет назад

Do a video : renting a property Vs buying a property

@goldbrick2751 5 лет назад

Bada Bang Boom #NomadCapitalist @NomadCapitalist

@ludwigvonmiseswasright4380 3 года назад

The only thing that ever made debt "make sense" was devaluing fiat currency. The USD is on its last legs. We should all get used to a paradigm shift in thinking of debt and savings. Devaluing the currency basically pays the debt off over time. But should we return to a sound currency, debt will once again be only for fools

@janehuang1618 Год назад

Do you have any videos talking about Singapore?

@nomadcapitalist Год назад

You can check this out: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ZhzlnBr-kr0.html

@adventago 6 месяцев назад

I love this intro

@nomadcapitalist 6 месяцев назад

We love it too, brings good memories. 😊

@ag-ep8uc 5 лет назад

Ouch! Andrew, your music is KILLING my ears. Seriously. I LIKE the music, but it hurts the ears to adjust the volume for your voice that I hear first and then get blasted away by the higher volume of the music. Just thought you might want to know.

@reabo 2 года назад

How many citizenships do you have?

@shinesgdesign 3 года назад

Does all this apply to Israel as well? I know the properties there are very expensive but getting a loan there I dont assume it's the same as getting one in the US either.

@naillijseer 3 года назад

I don't think this or anything else really applies to Israel.

@hamishfullerton7309 5 лет назад

What is your business

@peterthompson6651 5 лет назад

If you have zero debt I would be amazed, for the simple reason no one I know has ever paid for anything. Never had the precious metals or gemstones to pay for them, that's what money is, most people in reality pay with promissory notes which is debt. Most people who think they're wealthy are in reality holders of debt. So if you pay with promissory notes you have never paid for it in the first place and so if you haven't paid for it how can you own it? If you think you own anything then you would have the allodial titles, once sure way of knowing do you pay taxes, do you need planning permission if the answer is yes then you don't own it. Why would anybody pay taxes for something they own, if somebody can tell you what you could do with your property then you don't own it.

@justjacqueline2004 5 лет назад

Debt is poison.

@andrewkaplanc 2 года назад

Lol I asked the question at the beginning of the video earlier today in a different video

@jamesmorgan9801 5 лет назад

The intro is better.

@LD-rh3wo 5 лет назад

but still annoying

@jamesmorgan9801 5 лет назад

The rich don't need to leverage themselves with debt/risk to make good gains. Everyone else is continually punished with high tax and forced into investing their savings to avoid currency debasement. Everyone in the West is trying to buy assets with leverage and inflate their way out of debt.

@danielclayton3170 3 года назад

So true