5 Investment Reasons Why I am LIVING in Georgia (the country).
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MUST READS FOR VALUE INVESTORS
Great For Beginners
Invested - Danielle Town and Phil Town (Great introduction to value investing)
https://amzn.to/312SBWv
Rich Dad, Poor Dad - Robert Kiyosaki (Mindset and Motivation)
https://amzn.to/3vMSIUo
The Barefoot Investor - Scott Pape (Day to Day Financial Planning)
https://amzn.to/2QioPLl
One Up On Wall Street - Peter Lynch (Full of Gold)
https://amzn.to/3lLGgji
Great For Getting Deeper into Investing.
The Little Book of Common Sense Investing - Jack C. Bogle (Index Strategy)
https://amzn.to/3sc1Wau
The Little Book The STILL Beats the Market - Joel Greenblatt (Simple Strategy)
https://amzn.to/3f3xtI3
The Acquirer’s Multiple - Tobias E Carlisle (Simple Strategy)
https://amzn.to/3scoc43
The Dhandho Investor - Mohnish Pabrai (My Favorite Investor)
https://amzn.to/3lEyZS9
100 Baggers - Christopher Mayer (My Favorite Book)
https://amzn.to/393xNTb
The Education of a Value Investor - Guy Spier (Advanced Mindset for Serious Investors)
https://amzn.to/3r8W2Wy
1. Tax reasons.
This was my big driver to get to Georgia and check it out. In 2015 I started an Amazon FBA business. An Amazon FBA business is simply, thinking of a product to sell on amazon, then sourcing that product from a manufacturer. You then buy say 1000 of this product, send it to the Amazon FBA centres and as 1 item sells, you make a small profit.
Why did I want to start this business?
I wanted to start this style of business is because I thought had the skills to do it. And secondly, I really wanted to be location independent. I had this dream to travel the world and work from my laptop.
Well, how does Georgia relate to this?
For about a year I was making a lot of mistakes and didn’t make any profit. I was spending money on advertising and launching products.
o In 2016, I was getting the hang of it, and starting to get good sales, I wanted to double down and launch more and more products.
I was spending all the profit I was making on new products. I didn’t even pay myself.
I would buy the product for $3, shipping costs about $2, Amazon would take about $7 in fees, and I would sell it for about $20. Making some profit. I would then need to re-order the inventory, and attempt to fund a new product as well.
my bank balance was always low, because the profit would go into the next re-order and the next product.
Buying this inventory for the current product and the new product is called an asset. And I was always purchasing more assets.
But in Australia, company tax is based on profit of the business. Profit is calculated by my Revenue which was my sales minus my expenses. Buying inventory isn’t an expense… It doesn’t count. Which made a big problem for me because on paper I was going to make a big profit.
So my bank balance hovered around $15,000, I had projected what my 2017 profit might be and it was looking likely to be about $100,000 (on paper)...
o This was devastating because I was going to get an $100,000 tax bill, that I didn’t have the cash to pay for…
I would have to completely stop my plans to grow my business. No more new products. I was stuck.
This is now where Georgia comes in…
Compared to Australia, Georgia has a simple tax system. It still taxes profit of a company, BUT, it only taxes profit made inside the country…
So if I moved myself to Georgia, I could get out of Australia and away from that big potential tax bill.
This wasn’t easy and I needed help to make sure everything was set up correctly, and everything was done legally.
The team over at Nomad Capitalist were really great with helping me get organised. They are the experts, not me.
If you like my story, please also like the video and leave a comment if you need me to explain anything further.
2. The cool factor
.
There was something cool about telling my friends and family that I’m going to Georgia (the country). I think because most people thought I was crazy.
3. It SO Cheap!
I had just come from Australia where an average restaurant meal was going to cost me $20-$25. I can completely forget about ever buying a house… Even Uber isn’t cheap.
4. Business opportunities.
I think there is a lot of money to be made in bringing in successful businesses that exist in the Western world and start them in a developing county.
5. The people (and how cheap hiring staff is)
Want to hire someone to help run your business? Great that’ll cost around $400 a month.
o Want to hire a cleaner to look after your apartment three times a week? No problem, that’s $5 a day.
So Tax was the reason I come to Georgia nearly 4 years ago, but the cool factor, everything is so cheap, business opportunities and cheap labor has kept me here.
Видео 5 Investment Reasons Why I am LIVING in Georgia (the country). канала Andrew Brown
(GET FREE IBKR STOCK WITH THIS LINK) - https://ibkr.com/referral/andrew975
MUST READS FOR VALUE INVESTORS
Great For Beginners
Invested - Danielle Town and Phil Town (Great introduction to value investing)
https://amzn.to/312SBWv
Rich Dad, Poor Dad - Robert Kiyosaki (Mindset and Motivation)
https://amzn.to/3vMSIUo
The Barefoot Investor - Scott Pape (Day to Day Financial Planning)
https://amzn.to/2QioPLl
One Up On Wall Street - Peter Lynch (Full of Gold)
https://amzn.to/3lLGgji
Great For Getting Deeper into Investing.
The Little Book of Common Sense Investing - Jack C. Bogle (Index Strategy)
https://amzn.to/3sc1Wau
The Little Book The STILL Beats the Market - Joel Greenblatt (Simple Strategy)
https://amzn.to/3f3xtI3
The Acquirer’s Multiple - Tobias E Carlisle (Simple Strategy)
https://amzn.to/3scoc43
The Dhandho Investor - Mohnish Pabrai (My Favorite Investor)
https://amzn.to/3lEyZS9
100 Baggers - Christopher Mayer (My Favorite Book)
https://amzn.to/393xNTb
The Education of a Value Investor - Guy Spier (Advanced Mindset for Serious Investors)
https://amzn.to/3r8W2Wy
1. Tax reasons.
This was my big driver to get to Georgia and check it out. In 2015 I started an Amazon FBA business. An Amazon FBA business is simply, thinking of a product to sell on amazon, then sourcing that product from a manufacturer. You then buy say 1000 of this product, send it to the Amazon FBA centres and as 1 item sells, you make a small profit.
Why did I want to start this business?
I wanted to start this style of business is because I thought had the skills to do it. And secondly, I really wanted to be location independent. I had this dream to travel the world and work from my laptop.
Well, how does Georgia relate to this?
For about a year I was making a lot of mistakes and didn’t make any profit. I was spending money on advertising and launching products.
o In 2016, I was getting the hang of it, and starting to get good sales, I wanted to double down and launch more and more products.
I was spending all the profit I was making on new products. I didn’t even pay myself.
I would buy the product for $3, shipping costs about $2, Amazon would take about $7 in fees, and I would sell it for about $20. Making some profit. I would then need to re-order the inventory, and attempt to fund a new product as well.
my bank balance was always low, because the profit would go into the next re-order and the next product.
Buying this inventory for the current product and the new product is called an asset. And I was always purchasing more assets.
But in Australia, company tax is based on profit of the business. Profit is calculated by my Revenue which was my sales minus my expenses. Buying inventory isn’t an expense… It doesn’t count. Which made a big problem for me because on paper I was going to make a big profit.
So my bank balance hovered around $15,000, I had projected what my 2017 profit might be and it was looking likely to be about $100,000 (on paper)...
o This was devastating because I was going to get an $100,000 tax bill, that I didn’t have the cash to pay for…
I would have to completely stop my plans to grow my business. No more new products. I was stuck.
This is now where Georgia comes in…
Compared to Australia, Georgia has a simple tax system. It still taxes profit of a company, BUT, it only taxes profit made inside the country…
So if I moved myself to Georgia, I could get out of Australia and away from that big potential tax bill.
This wasn’t easy and I needed help to make sure everything was set up correctly, and everything was done legally.
The team over at Nomad Capitalist were really great with helping me get organised. They are the experts, not me.
If you like my story, please also like the video and leave a comment if you need me to explain anything further.
2. The cool factor
.
There was something cool about telling my friends and family that I’m going to Georgia (the country). I think because most people thought I was crazy.
3. It SO Cheap!
I had just come from Australia where an average restaurant meal was going to cost me $20-$25. I can completely forget about ever buying a house… Even Uber isn’t cheap.
4. Business opportunities.
I think there is a lot of money to be made in bringing in successful businesses that exist in the Western world and start them in a developing county.
5. The people (and how cheap hiring staff is)
Want to hire someone to help run your business? Great that’ll cost around $400 a month.
o Want to hire a cleaner to look after your apartment three times a week? No problem, that’s $5 a day.
So Tax was the reason I come to Georgia nearly 4 years ago, but the cool factor, everything is so cheap, business opportunities and cheap labor has kept me here.
Видео 5 Investment Reasons Why I am LIVING in Georgia (the country). канала Andrew Brown
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