Shlomo Freund is a serial entrepreneur. His latest company is called Free Financial Self, where he helps expats eliminate money as a source of stress and gain confidence in their future finances. He has travelled to 32 countries so far and he lived in China for 3 years as an expat. There he built a company that is still operating called App In China, where he helps foreign companies distribute their app on the Chinese market. In this episode of The Expat Money Show, we are going to discuss financial freedom for expats.
As promised, from Free Financial Self: Click Here For Free Net Worth Calculator
Mikkel Thorup and Shlomo Freund discuss how and why expats need help becoming financially free. I’m sure you won’t be surprised! Tips to avoid falling into several traps that steal your hard-earned money; however, may be surprising. Today’s episode is all about a system of preparation and follows through to achieve financial freedom for you, the expat.
When we talk about financial freedom for expats, we’re not talking about making enough money to live off. We’re discussing how to take the money you do make, and make it work for you.
If you’ve wondered how entrepreneurs make and keep their money, this is how they do it.
During this interview with Shlomo, he explains that you MUST start at the beginning. Point A
- What do you want to happen in 5 years, 10 years, 30 years
- where do you want to go
- have you calculated your net worth? if not, this needs to be done
- This is Point A
So what is Point B? There is so much to know about Point B and Shlomo tells us all how this is done.
Here are some of the concepts Shlomo Freund from Free Financial Self talks about in this episode.
Crowd investing is the term given when a large group of people, the crowd, co-invest in people or businesses online. CI encompasses both equity and debt forms of investing as well as hybrid forms of the two. Those investing together don’t necessarily know each other before they decide to invest
This is perhaps the type of crowd investing that investors are most familiar with. Equity crowdfunding allows businesses to sell shares in their company to ‘the crowd’.
Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers.
Mikkel asks, ‘how different is this from being a Digital Nomad? Shlomo explains in full detail. During this interview, Mikkel asks some really great questions for Shlomo to walk you all through what it would be like for you if you can see what it is you desire for your life.
- What is most important to you?
- Do you want to get married in 5 years?
- Start having a family in 8 years?
- What about retirement?
Let’s say you are 25 right now, what do you do? Where do you start? Before you know it, 20 years has flown by, you’re 45 years old and you haven’t saved a penny. You did get married but didn’t have the wedding you really wanted or haven’t been able to give your children what they want or deserve.
Because you didn’t have a plan to get where you wanted to go. At Free Financial Self, this is what Shlomo helps entrepreneurs at any stage of their life get. Financial freedom for expats is doable and if this is important to you, then I urge you strongly to listen to this episode. It really is fascinating!
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FINAL THOUGHTS FROM MIKKEL
I really got a ton of information from my interview with my good friend Shlomo Freund from Free Financial Self. We talk about how you can achieve financial freedom as an expat and the sooner you start implementing Point A, the faster Point B will happen. When I first started The Expat Money Show, my goal was to help expat entrepreneurs and in this interview, we’re still on track!
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