Tired of working in cubicle day after day? Tired of your abusive boss? Here is how you can escape cubicle and live life on your own terms.
Who in the right mind wants to spend 30-40 years in cubicle until they become old, get fired, or die. Why not trying to escape the rat race and become entrepreneur to live life on your own terms. Sure, you have a massive mortgage and bills to pay, but so does everybody else. Imagine life where you are free from the shackles of your company, having enough money and free to do whatever you want, whenever you want. Sounds too good to be true?
It is totally achievable. Millions are doing it right now, so why not you too? If you really like your job, then by all means stay there and work for someone else, but if you feel like something is missing, if you feel like something is not right, then perhaps it is time for a change. It is time to escape cubicle prison and start living.
Now, before you just quit your job, you have to have a plan and above all you have to have some savings aside. Aggressively save some money, make a plan and stick to it. Stop making excuses, like regular people: but I can’t quit my job, I have a mortgage to pay, I can’t quit my job, I have bills to pay, I have a family to feed, I am too old, I am too young…BS. You can do it, all it takes is an iron will.
Once you have a rough idea of what you want to do, you can start working on that idea. Maybe you want to start business offshore, or become an expat, or have an online business and travel the world.
In any of these cases you can move to location where your greedy government can’t access your savings, by opening offshore bank account. You will also save on taxes, as offshore jurisdictions don’t charge taxes or they charge it very low. To start your own business in offshore jurisdiction, consider locations, such as Panama, Nevis, Belize, Cook Islands, or Seychelles. If you want to do business with China, consider opening company in Hong Kong. Options are limitless.
Next step is to move abroad. You might want to consider countries, which have territorial tax system. This means that they tax their residents for local income, but not foreign profits. In effect, if you are selling online to different countries, or do business with different countries, you will pay zero in local taxes. Such countries are Hong Kong, Costa Rica, Belize, Malaysia, Singapore, Panama…
If you are an American, you have to be aware, that you will still have to deal with the IRS. In the year 2017 your first $102.100 is tax free if you qualify for foreign earned income exclusion, or $200.000 per year for husband and wife. To qualify for foreign earned income exclusion, you must be out of the US 330 days per year or be a resident of a foreign country. Always know your U.S. tax reporting obligations and have an expert check it out for you.