“Three things cannot be long hidden: the sun, the moon, and the truth.”
-Buddha
A galloping horse can clip clop along at about 25 to 30mph. In 2016, the Koenigsegg Agera R production automobile clocked a blistering 273mph. Back in the day, I would bet Henry Ford did not likely believe that speed possible. The car has clearly overtaken horses in America as speeds have increased almost every single year.
Change is another thing that is increasing in speed. It is clear that we are brink of quite a few financial, economic, and political changes. In the event of change, preparation and anticipation are the keys to turning a change into an opportunity. Simon Black of Sovereign Man writes:
“By
2014, inflation was at 50% in Venezuela. Just paying the bill at a restaurant
now required a thick stack of cash.
When
that happened, some people simply tightened their belts and stopped going out
to eat. Others saw this as a warning sign to look for another, more stable
country.
Then in
2015, supermarkets started facing shortages.
So in
order to get the groceries they needed, people started lining up outside of
stores from early in the morning.
Others
saw this as another warning sign, and started searching for jobs in other
countries.
Now in
2016, those supermarket shelves are completely empty. Inflation is nearly
incalculable. And the entire country has descended into crisis.
Regular
people have turned to attacking supply trucks, looting stores, and combing
through trash dumpsters just to survive.
As
things become increasingly desperate, more and more are scrambling for a way
out of the country… only to find that it’s too late.
Many
countries, including the United States, have started putting up barriers to
prevent a massive inflow of Venezuelan economic refugees.
Two
years ago it wouldn’t have been much of a problem. Few people were trying to
leave back then, so there were plenty of options available.
Today
there are tens of thousands of people trying to leave at the same time, making
this a full-blown refugee crisis. So naturally the gates have swung shut.
Venezuela
is an incredibly important reminder, not only of how impoverishing socialism
can be, but also how important it is to have another option.
Part of
having a robust Plan B is ensuring that you and your family have the legal
right to go, live, work, invest, and do business in a safe, stable foreign
country.
It’s an
insurance policy that you (hopefully) might never actually have to use.
But if
the day ever came when you felt like you needed to leave, whether for financial
or personal safety reasons, having clear legal status in a country where you
actually like to spend time can make a world of difference, not to mention
stability for your family.
It
requires very little to establish a foreign residency in many countries other
than a bit of advanced planning and perhaps a small investment.
In some
countries, establishing residency can be as simple as setting up a local bank
account and depositing money into it, as is the case in Panama.
(Which,
given how much value and protection an offshore bank can provide you, this is
something we definitely recommend considering.)
Depending
on where you go, establishing foreign residency could even qualify you for
naturalization and a second passport in a few years’ time.
Bottom
line– Investing a little bit of time now will provide tremendous insurance
against political and economic uncertainty in the future, should it ever occur.
And even
if nothing happens, you can still end up with a second passport, something that
can provide more business, investment, travel, and lifestyle options to you and
your family.
Best of
all, the second passport you obtain can even be something that you’re able to
pass down to your children and grandchildren, so that future generations can
benefit from the small investment you make today.”
Successful planning is all about having options. Your options will become your opportunities. It is worth taking the time and looking into it.
Over and Out
T. Norman
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