Today there is a lot of focus on buying assets instead of liabilities, on creating multiple streams of passive income, on having a really nice pension set up and investing in property and stocks to have a backup plan.
However all of these are very hard to do when you live in a country where you get paid in the same scale as things actually cost to buy. This is what has originally led to the idea of the new rich, first introduced by Tim Feriss, the author of the 4 hour work week. Tim Ferris talks a lot about lifestyle design and how you can save a lot of money and live a millionaire lifestyle without being a millionaire. He also addresses the very big misunderstanding of how a lot of people are millionaires on paper, but in reality they cant use their money since it is all locked up and is not really bringing them a significant cash flow and income stream.
The idea really is to create a passive or semi passive income that will bring you income without requiring you to be at a certain location at a certain time. What this does is that it frees up your time, our most prized possession that is arguably even more valuable than money. A lot of people say that creating a passive income that generates as much as a full time job is hard, the answer to this is both yes and no.
Yes it will take you some time to create a substantial income, but you really don't need a fulltime income when you have your time free. This is where the beauty of lifestyle and location design really comes into play. The idea is to make an passive income in $ and do so called mini retreats and mini retirements to places where you get a lot higher buying power with your money.
A quick example is that you will have 3 times higher buying power by moving to the beautiful country of Argentina. There are literally over 50 of these countries you can move to so there is plenty of choice if you are not especially fond of South America.
Lifestyle design does take a lot of planning and work, but once you get started and make it happen it will change your life forever and you will really enjoy the fruits of all your hard labour.
However all of these are very hard to do when you live in a country where you get paid in the same scale as things actually cost to buy. This is what has originally led to the idea of the new rich, first introduced by Tim Feriss, the author of the 4 hour work week. Tim Ferris talks a lot about lifestyle design and how you can save a lot of money and live a millionaire lifestyle without being a millionaire. He also addresses the very big misunderstanding of how a lot of people are millionaires on paper, but in reality they cant use their money since it is all locked up and is not really bringing them a significant cash flow and income stream.
The idea really is to create a passive or semi passive income that will bring you income without requiring you to be at a certain location at a certain time. What this does is that it frees up your time, our most prized possession that is arguably even more valuable than money. A lot of people say that creating a passive income that generates as much as a full time job is hard, the answer to this is both yes and no.
Yes it will take you some time to create a substantial income, but you really don't need a fulltime income when you have your time free. This is where the beauty of lifestyle and location design really comes into play. The idea is to make an passive income in $ and do so called mini retreats and mini retirements to places where you get a lot higher buying power with your money.
A quick example is that you will have 3 times higher buying power by moving to the beautiful country of Argentina. There are literally over 50 of these countries you can move to so there is plenty of choice if you are not especially fond of South America.
Lifestyle design does take a lot of planning and work, but once you get started and make it happen it will change your life forever and you will really enjoy the fruits of all your hard labour.
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