The Most Popular Articles Of 2024 From Expat Money
As 2024 comes to an end, it’s time to reflect on the year’s most memorable moments. At Expat Money, we’re constantly striving to bring the best in...
What would you do if tensions between world powers escalated to nuclear conflict? With the ongoing crises in the Middle East and Ukraine, many people are wondering how close we are to nuclear war.
That’s why, at this past October’s Expat Money Summit, I hosted a VIP panel with geopolitical experts to discuss whether the increasing risk of World War III is simply fearmongering or a genuine concern. Our conclusion? Things could escalate quickly, and staying out of harm’s way would be a good choice.
Princeton University recently released a simulation that depicts the potential escalation of a nuclear conflict—showing which countries would be affected and estimating millions of casualties.
I’m fully antiwar and hope none of this unfolds, but you’ll want to be pragmatic and avoid areas of conflict. My mission is to help action-oriented individuals secure a peaceful, prepared life abroad.
In this article, we’ll discuss rising tensions, whether they may cool down, and why you still want to have personal agency to protect yourself and your family.
Uruguay stands out as a safe haven with a stable environment and abundant investment opportunities, making it a good choice for securing your future
In the last few years, tensions between the U.S. and Russia have gone from distant threats to significant concerns. With the intense conflicts in Ukraine and Gaza, as well as Lebanon and even parts of Southeast Asia, global peace is at risk.
The conflict in Ukraine has become a significant point of tension between Russia and the West as a whole, with NATO backing Ukraine. Apart from the United States, countries like the United Kingdom have been actively sending resources to Ukraine, while Russia is firm about maintaining its relevance. These conflicts could escalate to the point that a broader conflict may emerge, affecting the U.S., Russia, and many European countries.
Meanwhile, the Middle East continues to face endless turmoil, such as the ongoing war in Israel-Palestine, which has also created significant controversy in the U.S. Recently, Israel has again staged an invasion of Lebanon, further adding to the instability of the region. Billions of dollars are spent to support wars, and the impact of nuclear weapons on modern politics continues to influence global diplomacy. Still, people in America and around the world are rooting for nothing more than peace and prosperity.
Related content: Geopolitical Risk: Practical Ways To Protect Yourself
The prospects of a nuclear conflict are unfortunately not that far-fetched, and to illustrate the possible risks, Princeton University came up with a horrific simulation that would send shivers down your spine. Among other consequences, there could be over 90 million casualties, as well as massive damage to the U.S., Russia, and European nations hosting NATO bases. The initial targets would be major urban areas and economic centres.
Trump’s recent election may be a ray of hope, as he’s known for milestones such as being the first U.S. president to have set foot in North Korea and the Abraham Accords in the Middle East. However, relying on any government to de-escalate these conflicts is unrealistic, so it’s much wiser to plan and be prepared for any possibility. That’s why building an offshore plan is not about alarmism but securing a peaceful future away from potential conflict zones.
Trump’s non-interventionist foreign policy appeals to Arab Americans and others weary of U.S. involvement in Middle Eastern conflicts, focusing on domestic priorities over military aid abroad
Trump’s non-interventionist foreign policy has attracted voters from communities affected by these wars. His approach has gained support among Arab-Americans tired of the never-ending conflict in the Middle East.
Instead of sending billions of dollars in weapons to Israel as Biden did, Trump promises to allocate money toward domestic needs. The endless involvement of the U.S. in the Middle East has convinced many people to vote for Trump.
If Trump’s promises become specific actions to promote peace, I’ll be more than happy for Americans and the rest of the world. We’ve witnessed endless madness during the last few decades, with conflicts in Iraq, Libya, Palestine, and Ukraine. There are even ongoing tensions in Asia involving countries like the Philippines, Taiwan, and China.
The president of the United States indeed holds immense power in foreign affairs, influencing the direction the world will go. However, it is not wise to rely on the arbitrary actions of political figures. What if Trump is impeached again? What if he doesn’t deliver on his campaign promises? These reasons and more are why you still want to secure your offshore plan if things escalate. It’s wise to be out of harm’s way.
I often refer to offshore Plan-B as “political insurance”, meaning that you don’t need to live life at the complete mercy of the machinations of politicians. In investing, it’s common to hear about the importance of diversification to minimize risk, so why not diversify your assets in safer jurisdictions?
With skyrocketing inflation comes more national debt and higher future taxes. The last thing you want is to keep all your eggs in one basket. Confiscations and capital controls are no exaggeration. These things could happen if you keep all your wealth in your home country. My clients know this and have decided to secure their offshore plans before it’s too late. Here’s a list of the benefits you can enjoy with your Plan-B:
A Safe Haven: Getting residency or citizenship in countries not involved in military conflicts is a backup plan that will give you great peace of mind. If you’re concerned that your country could be directly targeted, a backup plan will help you to get out quickly.
More Freedom and Flexibility: Second residencies and citizenships allow you to live where you feel safe. Instead of being at the whim of an ever-changing geopolitical agenda, you take the reins of your own life.
Financial Stability: Going offshore allows you to keep part of your wealth out of the reach of your home government. You can protect yourself against risks like inflation and asset seizure.
Peaceful, High-Quality Living: Countries in Latin America, for instance, are safer and offer a high quality of life for a fraction of the cost. It’s possible to enjoy a fulfilling lifestyle without risking your life.
Securing a solid Plan-B has gone from nice-to-have to a must-have to protect your wealth and freedom. I hope the escalation ceases and war never happens again, but you need to be realistic. Regardless of where the world is headed, you can take actionable steps to choose where you want to live.
Paraguay offers a secure backup in emergencies, with a second residency or a passport granting safety and full legal rights
Now that you understand the importance of having a Plan-B to protect your safety and freedom, let’s discuss its main pillars:
Imagine your country is undergoing an emergency, like the threat of nuclear war. In that case, a second residency in a safe haven (e.g., Panama, Paraguay, or Uruguay) offers a backup plan. If you want to go the extra mile, a second passport will further grant you all the legal rights you can imagine, such as living and working in your new country without cumbersome visa procedures.
Again, imagine an emergency strikes, and the government arbitrarily decides to seize money from your bank account. More simply, just think of all the recent banking collapses. Your wealth might not be secure in your own country, so keeping part of your wealth offshore would help protect what’s yours. You may also want to use alternative assets like precious metals or cryptocurrencies to further hedge against currency devaluation.
Real Estate is by far one of my favourite asset types. It retains and increases in value and provides substantial flexibility between short-, medium-, and long-term rentals. Apart from securing your wealth, real estate offers you a place to live. Your country may face turmoil, but you can have a second home to relocate to.
Combining these three elements will allow you to build a comprehensive offshore strategy. You can qualify for permanent residency or citizenship in multiple countries by investing in real estate or depositing funds in a bank. Rather than spending significant time outside your home country, you can fast-track your new residency or citizenship in months by investing in another country’s economy.
Consider Panama’s Qualified Investor Visa, which grants you permanent residency by investing $300,000 USD into real estate and only requires you to visit the country once every two years to maintain an active visa. Or look at Antigua and Barbuda, which grants you citizenship in exchange for investing $300,000 USD in property. Options like these give you a high degree of mobility, freedom, and the opportunity to have a second place you can call home.
Like-minded individuals securing their offshore Plan-B
The world may be unpredictable, but you can still determine what your future will look like. Events such as Trump’s election may be a ray of hope, and if he helps to create peace in the world, I’m all for it. Regardless, don’t give politicians the power to run your life. Take action to be as independent as possible and protect yourself and your family.
Princeton University’s animation of a nuclear war is indeed frightening, but that doesn’t mean you have to wait for politicians to sign peace agreements and withdraw troops. Instead, you can invest part of your wealth in safe offshore jurisdictions where conflict is not likely to happen. Much of Latin America is far from current conflict areas, and many of these countries offer pathways to second residencies and citizenships, which will help you secure your money and obtain a second home.
If you want the best intel from the expat world, including profitable offshore opportunities, little-known tax-saving strategies, and hard-won insights on immigration, passports, and Plan-B residencies, all delivered to your inbox every single week, then join our daily correspondence, EMS Pulse™. Currently enjoyed by over 84,000 expats and expat-hopefuls worldwide. Fill in the form below to join our newsletter free:
Written by Mikkel Thorup
Mikkel Thorup is the world’s most sought-after expat consultant. He focuses on helping high-net-worth private clients to legally mitigate tax liabilities, obtain a second residency and citizenship, and assemble a portfolio of foreign investments including international real estate, timber plantations, agricultural land and other hard-money tangible assets. Mikkel is the Founder and CEO at Expat Money®, a private consulting firm started in 2017. He hosts the popular weekly podcast, the Expat Money Show, and wrote the definitive #1-Best Selling book Expat Secrets - How To Pay Zero Taxes, Live Overseas And Make Giant Piles Of Money, and his second book: Expats Guide On Moving To Mexico.
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