My Money System as non-US resident - What's yours?

[m0ntilla21]

Hi there guys,

First all, I'd like to give a big thank you to @MJ DeMarco. Without a doubt, he accelerated my process to reach the point where I'm at, the point in which it really makes sense to study about investing and create a good money system and paycheck pot.

Thank you again for all your shared knowledge Mj.

My current money system is practically non-existent, but it's not so bad given the circumstances. For those who don't know, right now WISE (wise.com) is giving a guaranteed 4.13% APY for the liquid money you keep in your account.

You get paid monthly, which I think is pretty good given that the complexity is literally 0. You just have to open the account, and you get paid that cash monthly just for keeping the money there. With zero risk, and you do have you money 100% available.

Pretty good IMO given the simplicity.

That being said, I know I can do better. So I'm trying to apply the contents of the last chapter of Unscripted but I'm finding it difficult since, despite owning an American LLC, I am a non-resident alien.

For example, Vanguard.com or other firms won't allow me to open an account and trade with them.

Has anyone around here found a solution to invest in nice REIT's and dividend paying stocks from outside the US?

 

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[MTF]

With zero risk, and you do have you money 100% available.

There's no such thing as zero risk, particularly with companies like Wise. I wouldn't trust them with my life savings.

For example, Vanguard.com or other firms won't allow me to open an account and trade with them.

Has anyone around here found a solution to invest in nice REIT's and dividend paying stocks from outside the US?

Interactive Brokers is available to most nationalities.

 

[m0ntilla21]

There's no such thing as zero risk, particularly with companies like Wise. I wouldn't trust them with my life savings.



Interactive Brokers is available to most nationalities.

Ty MTF, by the way I read some of your money systems post from around 2018. How is all going now for you? I am very interested!

Regarding Wise, well, they interest they offer is fixed and your funds are backedup insured. Thats as zero risk as possible. Of course if the bank backing up (Jpmorgan) collapses.. thats a risk. But that would be ok with MJ acpolayptic rule.

I know there are more brokers, maybe I am not that good at explaining myself since english is not my native language.

In addition to sharing with the forum the interest Wise is giving, I wanted to open a conversation about the different Money Systems for non-us citizens, including brokers they are using, interest they are getting and so on.

Edit: Sorry, MTF, now I read again and saw that Interactive brokers is a broker itself. My english again I guess! haha thank you I will check it out. Still open for other tools non-us people are using though!

 

[MTF]

Ty MTF, by the way I read some of your money systems post from around 2018. How is all going now for you? I am very interested!

It's still the same as back then, with a focus on cashflowing investments, primarily dividend stocks and REITs. I actually need to diversify a bit more now but am not willing to invest in real estate directly so not sure what to do.

 

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[m0ntilla21]

It's still the same as back then, with a focus on cashflowing investments, primarily dividend stocks and REITs. I actually need to diversify a bit more now but am not willing to invest in real estate directly so not sure what to do.

Totally get it, I have terrible family background in the real estate market and I have grown a bad mindset around it. I guess I'm just scared and don't want the hassle it could create.

So I am also thinking on REITs and stocks.

But If I were to diversify... and I got this phrase from Eben Pagan (one of my favourite mentors), is that you should "invest in assets that grow and cashflow".

And he meant "real" assets. Those are:

1. Real Estate.
2. Stocks.
3. Precious metals (Gold, silver, platinum..)
4. Collectibles (Especially luxury collectibles such as cars, stamps, watches, rare coins... )
5. Financial instruments like REITs, CDs...
6. Business

So, in addition to explore those... I think the next logical step (at least for me) would be to become kind of an "Angel investor". As long as you really like business, have fun looking into them, and can afford to lose the cash.

So you will be using you FU Pot to play. Not your Paycheck pot.

I also got that from Eben Pagan. When he "semi-retired" he just used the wisdom and skills he acquired along the years with his business, to know how to pick good "new business" oportunities, fund them and then help them grow, by consulting the owners on market research, copywritting, creating better offers, sales or operations.

Hope that helps, but I'm sure @MJ DeMarco got some other ideas on diversification!

 

[MRiabov]

hey, and what about activist funds? They should be in EU, right?
@MJ DeMarco has written about them in Unscripted

 

[MTF]

1. Real Estate.

As stated above, hard to manage and possible headaches, even if you hire a property manager. I wanted to invest in Airbnbs in cool places around the world and rent them short-term but I'm not ready for the stress.

2. Stocks.

My favorite option but I only invest in dividend stocks. I don't like holding something and having to time when to sell it.

3. Precious metals (Gold, silver, platinum..)

I got some as insurance, not as a pure investment.

4. Collectibles (Especially luxury collectibles such as cars, stamps, watches, rare coins... )

Hard to value, no cashflow, and I don't see much value in these things.

5. Financial instruments like REITs, CDs...

Covered with REITs and stuff.

6. Business

Covered as well with multiple streams of income.

I'd also add:

• crypto as insurance (BTC and ETH),
• P2P lending (there are many platforms in Europe, I think Europe actually leads in this),
• royalties (on sites like royaltyexchange.com),
• your own skills,
• your own network,
• most importantly, your own health (high-quality food, delegating stuff so you have more time and less stress, working with the best physical therapists, etc.)

For alternative options, you may want to sign up for Alts | Discover And Invest In The World’s Best Alternative Assets newsletter.

So, in addition to explore those... I think the next logical step (at least for me) would be to become kind of an "Angel investor". As long as you really like business, have fun looking into them, and can afford to lose the cash.

This is as close to a guarantee that you'll lose all money as you can get. Tucker Max has a good piece on it:

Why I Stopped Angel Investing (And You Should Never Start) - Tucker Max

I started angel investing almost by accident, which sounds strange to say. Who “accidentally” invests tens of thousands of dollars into highly speculative ventures? Well, I did. A friend introduced me to Clayton Christopher who was raising money for his new liquor company Deep Eddy. Their first...

www.tuckermax.com

 

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