Today's episode features Bob Lai from Tawcan.

Bob and his wife are both dual citizens living in Vancouver, Canada.

He has a big passion for geo-arbitrage, slow travel, and dividend investing.

Hear how he's reaching FI while traveling and having three weddings! (spoiler alert, only one bride)

Listen, learn, and let us know what you think about this awesome episode!
Episode Summary
Bob's Background

Bob’s family grew up in Taiwan with a farming background
Money was never taboo and stuck with him
Frugality was a big point of emphasis
His dad retired in his early 40s
Bob had a cousin who retired at 42
And then another cousin who hit FI and kept working
Bob talks about the influence that had on him

Geo-arbitrage

Geoarbitrage is the act of moving somewhere to lower your cost of living
Think San Francisco resident moving to Montana
This can be within your own country or abroad
It’s important to consider your earnings also dropping
This typically works best if you’re not working or working remotely
Some jobs like doctors actually get paid more in small cities
With the pandemic, this is possible for many more workers who’ve gone remote
Exchange rates can also be your friend
Living 181+ days in another country can also help you avoid U.S. income taxes
Citizenship is obviously a big hurdle in certain countries
Some countries give residency based on wealth or homeownership
Geo-arbitrage can save you 50% or more

Slow Travel

Often we look at travel as short spurts (1 – 2 weeks at a time)
This leads to trying to pack in as much as possible
You end up so tired, you need a vacation when you get back
Slow travel is the idea of spreading that over 3-6months
This allows you to spread out costs of flights
It also lets you book apartments vs hotel rooms
Bob goes over how much more enjoyable it is and affordable
He also talks about the benefits of having a home base when traveling

Three weddings under $7000

Bob got married three times….
Remember that his wife was from Denmark
This meant they both had families abroad
His first wedding was mostly his family
Bob’s wife made the cake and her dress!
Of course, they used a coupon after the wedding to eat
A month later they had a wedding with friends and her family
They hired a friend who would go on to go to culinary school
And their photographer was just starting out
His wife actually altered her own wedding dress for the second wedding
A year later they decided to do a wedding actually in Denmark
This time it was at a small-town school and his picture did photographs
Bob even took some of the photos

Rounding out the Episode

Bob talks about how he could retire now if he wanted
He's happy with his job currently
Their home is also very valuable in the crazy Vancouver market
But life is good and his kids have a friend group

Key Takeaways

Slow down: Bob breaks down the power of slow travel which this show is a big fan of
You have options: Don't think that just because you live or were born in a certain area that you have to stay there.

Call to Action

Look at your next planned vacation or one you've done in the past, compare those numbers with the slow travel version of it. How much per day does a six day vacation compare to a six month?

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