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    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

    • Valencia, Spain
    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
    • La Rochelle, France
    • Mazatlán, Mexico

    Luxury

    • Ambergris Caye, Belize
    • Kotor, Montenegro
    • The Panama City Beaches
    • Paris, France
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  • Home
  • Countries

    Top Destinations:

    Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.

    • Spain
    • Portugal
    • Panama
    • Belize
    • Colombia
    • Cyprus
    • Mexico
    • France
    • Montenegro
    • Browse All Countries

    Best For:

    • The Best Places To Retire
    • Health Care Abroad
    • Cost Of Living
    • Investing in Real Estate
    • Establishing Residency
    • Gun Laws In The World
    • English-Speaking Countries
    • Safest Places For Retirement
    • Best Places In Latin America
  • Budgets

    How Much Will It Cost You To Live Overseas?

    The only honest answer is, we have no idea. And neither does anyone else. The only one who can answer that question is you. Here’s the most important thing to understand about budgeting your new life overseas…

    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

    • Valencia, Spain
    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
    • La Rochelle, France
    • Mazatlán, Mexico

    Luxury

    • Ambergris Caye, Belize
    • Kotor, Montenegro
    • The Panama City Beaches
    • Paris, France
  • Resources

    Global Living

    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore & Diversification

    Making Money

    • International Real Estate
    • Banking
    • Employment
    • Investing

    Follow Us:

    • Meet Our Experts
  • Real Estate

    Buying Real Estate For Cashflow

    • Discover tips and strategies used by global property investing veterans

    Explore Our Latest Posts

    • Learn how to invest and purchase property abroad…

    Go To The Overseas Property Alert Site

    • How To Become Independently Wealthy And Fund The Lifestyle Of Your Dreams
  • Conferences

    Upcoming Events

    • Explore Our Events Site

    Live and Invest In Spain Conference

    Offshore Wealth Summit

    Greece Workshop

    VALENCIA, SPAIN

    Sep. 17-19, 2025

    PANAMA CITY, PANAMA

    Oct. 15-17, 2025

    VIRTUAL

    Nov. 13, 2025

    Learn More About This Event
    Learn More About This Event
    PRE-REGISTER
    Learn More About This Event
    PRE-REGISTER
    • MORE EVENTS

    Contact Our Events Team

    Toll-Free U.S. and Canada:
    1 (888) 627 8834
    From Outside North America:
    1 (443) 599 1221
    Working Hours
    Monday – Friday 08:00 am – 17:00 pm EST.

    Reach us with your questions by email at: events@liveandinvestoverseas.com

  • Store

    Unlock The World

    • Access Your Library

    Overseas Havens Reports

    • Expats' comprehensive destination guides

    Conference Kits

    • Hours of coverage  from our latests conferences

    Lahardan Books

    • Titles on living and investing around the world
    • Explore Our Store
    Your passport to a life well-lived abroad

    Services

    overseas living letter offers affordable retirement guidance
    The Simon Letter Wealth Protection Insights
    Global Property Advisor Global Investment Opportunities

    Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com

  • My Library
Live and Invest Overseas
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THE 10 BEST PLACES TO RETIRE IN 2025

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Home Banking

What A Successful Diversification Strategy Should Look Like

Here To Help

by Lief Simon
May 01, 2023
in Banking
0 0
A picture of a road in Panama City, Panama

Adobe Stock/Walter

There’s no time to delay in getting your diversification plan started.

Just look at what’s been in the news in America recently…

Three U.S. banks collapsed and regional bank shares tumbled.

The latest Social Security Trustees report was released, revealing that—starting in the next decade—Americans will receive reduced Social Security benefits, unless our politicians fix the system.

Members of Congress are openly talking about a “national divorce,” splitting America into two separate nations… literally. Eastern Oregon is working with Idaho to switch states.

It was revealed that the number-one cause of death among children in America is… gunshot wounds. An average of one-and-a-half mass shootings per day.

(By the way, I love to shoot… I just don’t know why so many people in America are shooting kids. Something is very wrong.)

I’m an American and I love my country… but our country is failing us.

Do you really want all your “eggs” in this U.S. basket case?

Meanwhile, north of the border, things are just as bad… for different but equally alarming reasons.

Canada has banned foreigners from owning property… Trudeau has brought in the strictest controls on personal gun ownership in 40 years (the long-cherished lifestyle of many hunters and farmers is under threat)…

And don’t forget, the Canadian government last year used emergency powers to freeze the bank accounts of peaceful protestors, who objected to vaccine mandates.

A commission has just ruled that the Canadian government’s actions were completely justified…

What powers will the government decide it has during the next “emergency”?

If you’re not considering moving at least some of your wealth outside the U.S. and Canada… If you’re not considering getting a backup residency, so you have somewhere to escape to during the next emergency… I urge you to consider your options. For the sake of yourself and your family. The time to act is now.

How Do I Start?

I understand if you don’t know where to start.

This is complicated stuff…

How to get residency (or citizenship) in another country… offshore banking… knowing the right corporate structures to protect your interests…

There are a lot of ways to get “offshore diversification” wrong—and that can cost you precious time and money.

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Here’s what I mean…

At one Live And Invest Overseas conference, an attendee proudly commented that he had already taken several key steps toward internationalizing his life.

He had a bank account in Panama… had made real estate investments in Panama… had actually moved to Panama… and was on his way to a Panamanian passport.

On one hand, great.

On the other… not so fast. While this guy has indeed moved his wealth and life outside North America… He hasn’t diversified his life or his finances. He’s simply moved them both from his home country to Panama.

Now, instead of being completely at the mercy of the goings-on in the United States—from its economy and currency to its political situation—he’s in the same vulnerable position in Panama.

Another example…

Years ago, a real estate investor came up to me at a conference to boast that he had diversified his real estate portfolio overseas.

He told me that he had sold all of his U.S. real estate, which had been a sizable portfolio, and bought a bunch of properties in Nicaragua.

This guy hadn’t diversified either. Again, he’d simply moved all of his real estate risk from one country to another. Now he was completely exposed to whatever might come to pass in Nicaragua that could affect his wealth.

Here’s an even more basic example…

I’m reminded of a woman who approached me at a conference to tell me that, five years prior, she had made a trip to Panama and set up a corporation through a local attorney.

“Why did you do that?” I asked her.

The sweet, smiling, older lady looked up at me confused. It was as though she’d never considered the question before that moment.

And, indeed, she had not.

She’d opened the Panama company, she finally admitted, because a friend had insisted she needed one. Everyone should have an offshore corporation, right?

No!

Five years later, the nice lady who came to me for advice at the conference hadn’t done anything with her corporation and wondered how much longer she should continue paying the annual fees to keep it alive.

A Panamanian corporation might make sense for me. It might make sense for you. But did it make sense for this lady? I asked a few questions and concluded that, no, it did not.

I told her to stop paying the associated fees and let the company die. The money she’d already invested in setting up and maintaining the structure was lost.

The important lesson here is: You need a diversification plan that makes sense for you.

It’s about organizing all aspects of your life to your best advantage in a way that accommodates and connects your priorities, objectives, agendas, appetite for risk, taste for adventure, legacy-planning concerns, and so on…

This is not one-size-fits-all.

And it comes with risk… so you need to work with people you can trust… in proven jurisdictions and markets with track records.

The goal is options and opportunities aplenty so that no matter what happens in one place… or even in many places… you’re good. You, your money, and your future are elsewhere… or at least can skedaddle somewhere offering better options and more opportunities in a hurry if need be.

I’m Making Myself Available…

In my 30+ years of traveling, living, and working outside the United States, I’ve met a ton of people who’ve helped me and can help my readers.

I, personally, have done pretty much everything it’s possible to do offshore… from setting up corporations, to dealing with tax implications, to banking, to establishing multiple residencies and getting a second citizenship.

I don’t think there’s a single question about “going offshore” I haven’t answered at some point…

I don’t do this very often… But because I think the situation in the U.S. is so concerning right now, you really need to take action…

I’m making myself available for a limited number of personal consultations with readers.

Get the details here.

Stay diversified,

Lief Simon signature

Lief Simon
Editor, Simon Letter

Share83Tweet52
Lief Simon

Lief Simon

Lief Simon has lived and worked in 7 countries on 5 continents and traveled to more than 75 countries. His real estate investment career began with a $5,000 down payment on a three-flat building in Chicago. Less than three years later, Lief sold the building for a leveraged return of 3,000%—$150,000 in profit after closing costs and commissions.

From there, he turned his attention overseas and has bought property in 24 countries including France, Croatia, Portugal, Ireland, Belize, Spain, Argentina, Cyprus, Romania, and beyond. Thanks to his decades-long career as a global property investor, Lief has built a multi-million-dollar portfolio that includes rental properties, significant land holdings, and 7 personal residences.

Lief has established residency in 3 countries and acquired a second passport from Ireland.

In 2008 Lief and wife Kathleen Peddicord made the most important investment of their lives—a 215-acre oceanside finca, known as Los Islotes. There, on Panama’s largely undiscovered Veraguas coast, they’ve installed underground electricity, water, and internet and built a forever family home that sits at the heart of their ultimate vision: a gold standard private residential community for those in search of a true safe haven escape.

Lief’s latest book, “Cowboy Millionaire—The New American Pioneer,” collects all the wisdom he has learned in three decades of living and investing outside America.

He offers advice on international diversification in his twice-weekly Offshore Living Letter and monthly Simon Letter dispatches. For real estate investment opportunities, check out his monthly Global Property Advisor service.

If you’d like to meet Lief in person, join him for one of our upcoming in-country conferences. You’ll find further details here.

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Top Countries

  • Spain
  • Portugal
  • Panama
  • Belize
  • Colombia
  • Cyprus
  • Mexico
  • France
  • Montenegro

Best For:

  • Health Care Abroad
  • Retirement Living
  • Cost Of Living
  • Investing in Real Estate
  • Establishing Residency
  • Gun Ownership
  • English Speakers
  • Safety
BROWSE ALL COUNTRIES

Budgets

How Much Will It Cost
To Live Overseas?

Super Cheap

  • Chitré, Panama
  • Santa Marta, Colombia
  • Phuket, Thailand
  • Dumaguete, The Philippines

Cheap

  • Medellin, Colombia
  • Boquete, Panama
  • Kyrenia, Cyprus
  • Hua Hin, Thailand
  • The Algarve, Portugal

Affordable

  • Valencia, Spain
  • Cascais, Portugal
  • Las Terrenas, The DR
  • Pisa, Italy
  • La Rochelle, France
  • Mazatlán, Mexico

Luxury

  • Ambergris Caye, Belize
  • Kotor, Montenegro
  • The Panama City Beaches
  • Paris, France

Resources

Global Living

  • Living & Retiring Overseas
  • Raising A Family Abroad
  • Foreign Residency & Citizenship
  • Offshore & Diversification

Making Money

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Meet Our Experts

Real Estate

Overseas Property Alert 

 

How To Become Independently Wealthy And Fund The Lifestyle Of Your Dreams

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Discover tips and strategies used by global property investing veterans

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Learn how to invest and purchase property abroad…

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Live and Invest In Spain Conference

VALENCIA, SPAIN Sep. 17-19, 2025
Learn More About This Event

Offshore Wealth Summit

PANAMA CITY, PANAMA Oct. 15-17, 2025
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PRE-REGISTER

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VIRTUAL Nov. 13, 2025
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PRE-REGISTER
MORE EVENTS

Contact Our Events Team:

Toll-Free U.S. and Canada:
1 (888) 627 8834

From Outside North America:
1 (443) 599 1221

Working Hours
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Reach us with your questions by email at: events@liveandinvestoverseas.com

Store

Overseas Havens Reports

  • Expats' comprehensive destination guides

Conference Kits

  • Hours of coverage  from our latests conferences

Lahardan Books

  • Titles on living and investing around the world

Services

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  • The Simon Letter: Wealth Protection Insights
  • Global Property Advisor: Global Investment Opportunitites
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THE 10 BEST PLACES TO RETIRE IN 2025

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