On Sale Now! Why Does The Stock Market Go Up? by Brian Feroldi

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047 | The Cult of Home Ownership & Crushing Geoarbitrage | Millennial Revolution

Real Estate
Today we have Kristy and Bryce from Millennial Revolution on the podcast to discuss home ownership, international geographic arbitrage and much more…

Podcast Episode Summary

  • A discussion with Kristy and Bryce from Millennial Revolution
  • They initially were contemplating buying a house and were shocked by the process
  • This is what led them to finding the Financial Independence community
  • Home ownership seemed like a “cult” to them
  • What did their financial life look like before finding financial independence and how did they save so much money previously?
  • Who might be naturally included to FI and how everyone can be open to it
  • FI opens up creativity that you otherwise wouldn’t have the time for
  • Voicemail from David from Canada
  • How difficult it is societally to not purchase a house
  • You need to do the math behind home ownership and don’t succumb to the ‘fear of missing out’
  • All the other costs that are involved in home ownership that eat into your paper gains
  • A house is not an investment, it’s a place to live
  • The power of compounding and the Rule of 72
  • How would someone do the math to compare renting versus buying?
  • The 1% rule
  • Introducing leverage into the scenario of buying a home
  • What do they invest in? Low-cost index funds
  • How often they rebalance their portfolio and how they came up with their 60/40 split
  • It is less expensive for them to travel the world than live in Toronto
  • Their annual spending their first year of travel was $40,000 but they were able to cut that to roughly $30,000 in year 2
  • How they believe everyone could live the same lifestyle if they were willing to break their mental block with owning a home
  • How would they recommend people get started with international travel and geo arbitrage?
  • Budget airlines and bus companies help them travel throughout Europe for a fraction of the expected costs
  • What do they do with lodging when first visiting a city?
  • The ‘secret’ location they’ve found in London to stay for a fraction of the cost
  • How nobody else in the world worries about health costs like Americans do
  • How much could you reasonably spend for a year of living in Thailand
  • The little enclaves of expats that exist throughout the world where they’ve found to live for less
  • Their summarized advice for David from Canada
  • Hot Seat Questions
  • They actually have a financial advisor, but they don’t outsource their knowledge to someone else
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