One of the things I enjoy most about this lifestyle is the ability to interact with many interesting people. In my travels I have the opportunity to meet with many entrepreneurs, investors, and generally adventure minded people. While in Italy 2 weeks ago, I spent time with an Italian friend of mine. He left for Africa a few days before I left for the US. He flew from Milan with a one-way plane ticket and didn’t even know where he was staying his first night in Tangiers. And he was staying in Africa for 3 months. You don’t meet these people on your morning commute.
I truly enjoy hearing from my readers and enjoy the occasion when I get to meet face-to-face. You are the type of people I enjoy spending time with. If you are ever in my neck of the woods, drop me a line.
If you have been reading my articles for awhile now, you are certainly aware that I am increasingly uncomfortable with the state of affairs in the US. However, I am a very patriotic American. Recently I had a debate with someone who accused me of being anti-American, but that cannot be farther from the truth.
I think many people do get the notion of America confused though. America is not a place, it is an ideal. It stands for freedom and opportunity. Our founding fathers designed America to be the world refuge for those that were ambitious and repressed. It was meant to be an oasis of personal and professional freedoms while having nearly unlimited opportunity.
The United States is a place. It is a piece of dirt. From that perspective it is no different than any other piece of dirt. The real estate does not make it America. And the government certainly is not America. In my opinion, the government now is doing nearly everything it can to destroy America. And to be clear, I am not just anti-Obama. I am against any and all government intervention that restricts my freedoms and places limits on how I live my life.
Our government has decided that our morality can be legislated. It has decided that congress and the President know better how to manage our life than we do. And to be quite frank, this pisses me off. I don’t need legislation to determine whether or not I can buy beer on Sunday or if my restaurant is allowed to have a smoking section. I don’t need to fund a politician’s personal agenda to legislate MY morality and ultimately, my freedom to live as I chose.
Because of this, I have chosen to diversify my life. I have chosen geo-arbitrage. Simply put, this is the process of not having all your eggs in one basket. If you live in Kansas, run a business in Kansas, bank in Kansas, own property in Kansas, and invest in Kansas, you are putting yourself at risk. You are at political risk, financial risk, and litigation risk.
This doesn’t mean you need to drop everything and move out of Kansas. But it wouldn’t hurt to start implementing an asset protection strategy that diversifies your risk outside of Kansas, and maybe outside of the US. This could be simply forming an offshore LLC/IBC to do some banking and/or investing in an account held offshore. You could look to another country to buy real estate. You can move abroad for a year and establish residency somewhere else. There are lots of ways you can minimize your risk. But the key is action.
What are you doing today to minimize your risk and plan your financial future? Are you reading my article and others thinking, “those are great ideas…..for someone else…” Or do you keep telling yourself, “I will take care of this next week, when I’m not so busy.”
We are living in very strange times and I fear once the dam breaks in the US, it will be too late. The US government has put us in a downward spiral with soaring deficits. Eventually our creditors are going to demand higher interest rates to take on the additional risk of loaning the US money. Once that happens, we will see soaring interest rates and falling asset prices.
But really, my big concern is just the uncertainty of it all. No one knows from day to day what is going to happen in the US. We don’t know when the next legislation ‘bomb’ will hit. We don’t know when the next war will happen. Or when the next terrorist strike against the US will take place. Friends in Washington DC tell me it is not a matter of IF there will be another terror strike but WHEN. It feels like we are crossing a river in Siberia in the spring; you just never know when the ice is going to be thin enough to break. (fyi, this isn’t exactly a metaphor, I’ve done this).
I can tell you personally, I live abroad. I have residency. I have diversified my business holdings so they aren’t all in the US. Our firm also manages an investment partnership that has diversified into several asset categories across other countries. (I will be accepting a few new investors at the end of the year. If anyone is interested, let me know).
But I want to hear from you, dear readers. What are you doing? I would seriously like to hear about how you plan to navigate the unfamiliarity of tomorrow. If you are unsure of how to properly manage, we can help you with the asset protection planning process. We offer a free initial consultation to help assess your situation. If you want to proceed with strategic planning, we can provide a detailed analysis of your current situation and assess your risks as well as offer you various options on minimizing your risk and reducing your tax burden. With these uncertain times come great opportunities as well.
Call today for your free 30 minute consultation.