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How to Secure Financial Independence, Retire Early Through RCBI
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RIF Trust on FIRE and Residency and Citizenship by Investment
Financial Independence, Retire Early (FIRE) has become a movement. Our CEO and Founder Mimoun Assraoui understands how Residency and Citizenship by Investment (RCBI) programmes can help you become financially independent and enjoy an early retirement.
“If you crave financial independence, Residency by Investment is an avenue you should explore,” explains Mimoun. “Similarly, Citizenship by Investment can pave the way for an early retirement.”
“Together, you should use RCBI programmes to become FIRE starters.”
“Whether it be tax benefits you receive or enjoying access to superior lifestyle destinations, Residency and Citizenship by Investment is a one-stop solution.”
Who Started the Financial Independence, Retire Early Concept?
If you haven’t heard of FIRE, you might be surprised to learn that it has 20th-century origins. Before it was a movement, it was an idea. Germination began with the 1992 publication of Your Money Or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence.
This defining book’s authors are Vicki Robin and Joe Dominguez. The pair met as the 23-year-old Robin embarked on a 1969 road trip across the United States after receiving an inheritance following her grandmother’s death. Dominguez, then 31, had already retired and lived on savings earned during a short, but profitable, Wall Street career.
The 9 steps to transform you relationship with money and achieve financial independence (FI) are as follows:
- Making Peace with the Past
- Being in the Present—Tracking Your Life Energy
- Monthly Tabulation
- Three Questions That Will Transform Your Life
- Making Life Energy Visible
- Valuing Your Life Energy—Minimizing Your Spending
- Valuing Your Life Energy—Maximizing Income
- Capital and the Crossover Point
- Investing for FI
FIRE Spreaders
The Financial Independence, Retire Early philosophy, well, caught fire in 1992 with the above book. It’s been reviewed in glowing terms by renowned bibliophile, Oprah Winfrey. Here is Oprah’s Your Money or Your Life rating: “This is a wonderful book. It can really change your life.”
FIRE matured during the teenage years of the 21st century. First came Danish astrophysicist and writer Jacob Lund Fisker’s contribution to propagating the movement. 2010 saw the release of Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence.
In 2011, Mr. Money Mustache launched. This popular blog is the brainchild of Canadian Peter Adeney, a former software engineer. He, like the previously-mentioned Joe Dominguez before him, retired in his 30s.
Another name in the Financial Independence, Retire Early trend is JL Collins. Again, this is an author of a bestseller who augments their reputation with a strong online presence. 2016’s
The latest proponent of FIRE is Grant Sabatier. He has collaborated with Vicki Robin and advocates that everybody should have a side hustle to support their main income. Sabatier’s 2020
Financial Independence, Retire Early Through Residency by Investment
At RIF Trust, we’ve patented our very own ideology. We call this tenet SMILE. Let’s break that down for you:
- Security
- Mobility
- Insurance
- Lifestyle
- Education/Employment
With Residency by Investment, as with Citizenship by Investment as you’ll shortly discover, Financial Independence, Retire Early is an achievable goal. There are obstacles to becoming financially independent and retiring early. Investing in Residency by Investment programme can help you avoid them.
Residency by Investment gives you Security. It’s a new base in a stable country. For example, the Malta Permanent Residence Programme (MPRP) becomes more attractive because of Malta’s credit rating.
Mobility ensures easier business travel. You’ll be able to move freely across the 29 countries of the Schengen zone with a European Residency by Investment such as the Spanish Golden Visa. This means you sidestep any issues relating to the launch of the EU Entry/Exit System.
Investment relates to Residency by Investment’s route to diversification. You can explore different markets with a UAE Golden Visa, say. Like European Residency by Investment, it also leads to increased mobility.
Lifestyle is key for any FIRE devotee. A Residency by Investment should ideally offer an upgrade. Retiring early with a Portuguese Golden Visa is ideal given the number of high-quality golf courses in the quality, and you become eligible for citizenship 5 years after applying for residency.
Lastly, Education allows your children to realize their Financial Independence, Retire Early dreams. You can include any child under the age of 21 as US EB-5 Visa dependents. This allows them to apply for the world’s best universities, as does the UK’s Innovator Founder Visa, and gives them a head start as an entrepreneur or professional.
FIRE Via Citizenship by Investment
Citizenship by Investment can plant a SMILE too. If you reside in Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, or St Lucia after obtaining Caribbean citizenship, you can reduce your tax liability to 0%. Now that’s a shortcut to financial independence.
Malta offers a similarly relaxed lifestyle to Portugal. So, this makes this the perfect destination to retire early to. Maltese Exceptional Investment Naturalization (MEIN) is Europe’s only direct CBI programme.
If you want to join the Financial Independence, Retire Early party, you might also want to consider Turkish Citizenship by Investment. With a Turkish passport, you’re able to enter 137 countries without a visa. Think of how you can grow your company with that extra mobility!
Take the First Step Towards Financial Independence, Retire Early in 2024
FIRE is a theory. However, it’s not difficult to apply the lessons learned in the various Financial Independence, Retire Early “textbooks” into practice. Residency and Citizenship by Investment makes it even easier.
There are plenty of RCBI programmes to choose from. There are 8 main Residency by Investment programmes available. That’s the same number of major Citizenship by Investment programmes.
We’re happy to answer any questions you might have about Residency and Citizenship by Investment. We can help match your needs with a particular programme. So, contact us now and we’ll show you how to move closer to realizing your Financial Independence, Retire Early objectives.