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Jeremy Barlow
Nomad Capitalist
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Comments by "Jeremy Barlow" (@jeremybarlow2291) on "My Reply to Patrick Bet David’s Renunciation Offer" video.
There are also some in the middles class and the poor who can't save enough money to seek opportunities overseas who recognize that there are better opportunities elsewhere. I mean if you can't afford a $400 emergency, you aren't in a position to buy a plane ticket from the US to Cambodia, have a few months of rent money, and pay the costs even $300 or so needed for a Cambodian business visa that would cut your tax rate in half on your first $110k of income, and that is one of the cheaper relocation opportunities for a working class American who can work remotely as an online freelancer. Hell many of those people would have a hard time affording a move from a higher tax state like California or New York to a lower tax state like Nevada, Florida, or Texas. Why else do you think there are so many young people in the US living #VanLife with South Dakota tags and a South Dakota driver's license? Because the cheap rent of the van, and the one night stay in a South Dakota hotel with a receipt which qualifies you for South Dakota residency is the cheapest way for those people to reduce one of their biggest expenses, state taxes. They already eliminated their largest expense of rent and most utility costs by moving into their van. The smarter and more adventurous ones then spend half of the year driving around Canada and half of the year driving around Mexico and Central America specifically to reduce the federal tax expense to just their social security tax on what are often fairly small incomes just to build a nest egg they could never save living in the states.
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@25Soupy one correction, Millennials are between the ages of 23/turning 24 and 40 assuming the 1980-1997 generational cohort is the accepted norm with Xers born between 64-79. The Zoomers are between 8 and 23 now with 1997-2012 their accepted generational cohort. The Xers between 40 and 56 depending on where they lived in North America have had some really good times or some really bad times, but have definitely taken some of the hardest hits to retirement savings of any generation with the 1991 recession, the 2000 stock market bubble, the 2007-2009 market crash, and the Covid crash. Every time I have been ready to get my career going the economy has been crashing. It was bad when I finished high school, it crashed again when I finished college. The year I finished my LLM after becoming a lawyer it crashed again. As I was transitioning into starting a business doing drone videography for real estate because I realized the stress of being a litigator who usually worried more about their clients cases than the clients did was not a good way to live, Covid hit, so I definitely understand what you mean about trading for the opportunity that suits your needs.
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