Every new year brings reflection and a look forward. But this year, I’m looking way forward.
In addition to my annual goals, I’m also setting some goals for a decade from now.
Here’s how I’m optimizing my life for ultimate freedom in the next 10 years. I hope this helps you in your quest to become more sovereign.
A passive income & real estate portfolio
MyLatinLife defines financial independence as a greater passive income than cost of living.
While I disagree with the nuances of his tweet, passive income is without-a-doubt important for peace of mind and wealth creation.
To grow my passive income streams, I plan on investing more in international real estate. Especially in nations that also give me residency or even citizenship for investing in their country (check out Wandering Investor for more on this).
An underrated benefit of passive income is the ability to apply for visas, residencies and citizenships that require such streams. Most of these programs are targeted toward retirees (e.g. social security is passive income), but if you meet their monthly income requirements, many programs will also accept your application.
Nice!
Now, I already own a home in Colombia. As an inexperienced investor, I’m not sure whether owning properties in other countries where I spend my time is a worthwhile investment.
Twitter tells me I’m stupid for even considering it 🙄 But it’s worked out for Andrew Henderson.
Therefore, complementing my Colombian property, I’d like to also rent properties in cities I’d like to base. For example, Madrid 🇪🇸 and possibly Buenos Aires 🇦🇷
More to come on this below…
A personal holding company
The first time I heard about a “personal holding company” was this tweet by Alex Lieberman:
The rough idea? To build a high-performing business, outsource the work and get your time back – one after another.
When I started the Freedom Files, I had no intention of making any money. I just wanted to document my journey (and that of others) to ultimate freedom.
Now, freedom-seekers all around the world tell me the impact my story has had. And how I may be able to serve them even better.
Behold – Opportunities to build a suite of products and services that serve their needs.
So in ten years, I hope to own (but not run day-to-day) several businesses that help freedom-seekers get closer to their dreams of sovereignty 😊
A sovereign mind & body
In the last few years, I’ve learned a ton. But it wasn’t from consuming others’ work – It was from living life to its fullest and experiencing new adventures.
In the next decade, I’d like to consume more content to educate myself on topics I don’t know very well.
Continuous learning breeds growth.
In terms of my body, I’m the healthiest I’ve ever been. But I still feel as if there’s a lot of room for improvement.
I’d like to maintain and improve my physical shape while also learning to eat better. For example, after receiving several recommendations from people I trust, I’m experimenting with the carnivore diet in 2024.
A sovereign wallet
Just three years ago, I would’ve never dreamed of the things I’m doing today – like learning a new language, buying international property, and obtaining my first foreign residency permit.
Now, I think – no – I know that diversifying my nationality stack is essential to become truly location independent and sovereign.
In the next decade, I’m aiming for a “rule of three”:
- 3 residency permits — Paraguay 🇵🇾 and two others
- 3 citizenships — USA 🇺🇸, Colombia 🇨🇴 and Spain 🇪🇸
- 3 international bank accounts — [Redacted], [redacted] and [redacted] 🫢
- 3 languages — English 🇬🇧, Spanish 🇪🇸 and Portuguese 🇵🇹
This stack will give me unparalleled networking, travel, investment, and lifestyle opportunities.
A family
I don’t think there’s any more selfless and noble undertaking than bringing children into this funky world. So toward the end of the next decade, I’d like to start a family.
I’m most excited about imparting upon a few kids what my grandparents and parents have taught me.
More time with my parents
Don’t get me wrong – Unlike many expats and nomads, I’m very close with my parents. I love them a whole lot.
But in the last two years, I haven’t seen them as much as I’d like to.
As of right now, my mom is located in the United States and my dad and his wife split time between Europe and Southeast Asia.
As they get older (they’re just 57 and 58 right now), they’ll become less mobile. So I’d like to increase my access to them – by either visiting them more or moving closer to them.
So that’s my next decade in a nutshell.
What’s one thing on your list in 2024? Hit the email or Twitter icon below and let me know.
