Andrew discusses how Americans might be affected by Trump’s new tax reform bill. By having an ‘America first policy,’ many American expats might find themselves in trouble. Nothing is set in stone yet, but what the tax bill is proposing should cause any American to become concerned. Andrew explains what you need to know if this bill were to pass ‘as is.’
Key Takeaways:
Andrew’s Editorial:
[1:30] Andrew would like to touch on something that’s going to affect American Citizens; actually, it’s going to affect everyone around the world.
[2:15] How will the Trump tax reform impact U.S. expats (and also countries like Ireland, Australia, etc)?
[3:30] Based on what’s being proposed (which may change), you may be forced to pay a lot of tax if you live overseas.
[6:00] Remember, none of this is written in stone as of yet.
[6:10] Foreign income exclusion (what allows you to earn $100K tax-free) might be removed.
[7:00] America first policy is not good for those who want to live abroad.
[10:25] If you’re a high earner, you may have more incentive to abandon that U.S. passport.
[11:40] This year, Andrew has been focused on where he considers ‘home.’
[12:35] Andrew has heard the stories of what happened to Serbia from his friends, who are from there, and their personal counts will make you want to cry.
[14:20] There will always be options, and for so many people, the U.S. is not home.
[15:45] Not wanting to be American is just as much as about identity as it is about money. The way the government acts with its wars and finances, it shows they don’t care about you.
[17:00] Don’t feel defeated, just be prepared that changes will be made.
[19:55] Andrew believes it’s almost criminal that there’s no way you can live overseas without paying the mothership.
Interview:
[22:00] From the U.S. to Chile, why did Nathan make the switch?
[23:55] How did Nathan find out about the 6-month startup program Chile was having?
[25:15] Why did Nathan want to leave his home country?
[26:35] Nathan’s business partner always wanted to study to abroad and it seemed like a natural fit for the two of them to go.
[28:00] What did Nathan like about Chile where it made him decide to come back more ‘full-time’?
[31:10] By leaving the country, Nathan was able to find out about some core issues within the team and he was able to fix it so that the business could still function on its own, making it a stronger business.
[34:20] Chile is considerably more expensive than say, Colombia or Ecuador.
[37:55] Why hasn’t Santiago, Chile progressed to a New York, Hong Kong, or Singapore level yet?
[40:25] Nathan discusses how Chile has changed for the better over the years.
[43:25] How do the Chilean people feel about immigration and foreigners coming into the country?
[47:00] What is Nathan’s company about and how does he help his clients?
[53:15] What’s happening in Venezuela is impacting the Chilean economy in a positive way.
[54:50] When it comes to free markets, where does Chile sit? It seems Colombia is faring better in this area.
[57:35] If your goal is to just make money, Nathan believes Asia has much better opportunities.
[59:15] What’s it like to date romantically in a country like Chile?
Mentioned in This Episode:
Email: Andrew@NomadCapitalist.com
Email: Hola@NomadCapitalist.com
