When you tell your millennial child(ren) or friends that you’re looking to relocate or invest internationally, what is their typical reaction? Are they happy for you? Scared? Confused? Envious? Worried? There is a saying, “Monkey see, monkey do,” and in some cases with young adults, that is not always true. If your 20-something-year-old is the one pushing you to globe trot, good for them and good for you. If they call you crazy for wanting to retire in Belize or invest in Panama, this note is for them.
Being in the hardwood investment industry, I often hear the following response to the longer-term investment model, “If I was younger, I would do it.” But if you were given this opportunity 20 years ago, would you have taken it? Most people wouldn’t, because they didn’t know then what they know now. Being able to share your experience with the millennials in your life is tremendous, especially as the traditional methods of investing and retiring are becoming obsolete or less attainable.
With the capabilities and expansion of social media, the commonness of cultural blending, and the willingness to travel, the world is becoming smaller and will only continue to feel smaller. Today, with one touch of a button, you can be talking in real time, face-to-face with someone thousands of miles away. Wow. Why not take your knowledge of international opportunity and assist those who may not be familiar with this market?
When I began my journey in Latin America, I received an enormous amount of questioning and skepticism from my parents and millennial/Gen-X friends. Every other question was something along the lines of: “What’s wrong with America? Do you have rights in those countries as a foreigner? Is it safe? Aren’t you scared to invest in a foreign country?” What these questions really showed me is that there is a huge perception problem of the region.
If your family and friends aren’t on the same page as you, don’t worry. You’re not wacky. They just need to understand what you see. Here are 3 effective tips to help your millennial (or person of any age) gain interest:
1) Introduce them to other people their age that you know who are on the same wavelength as you.
2) Share with them an interesting opportunity and explain why you think it would serve them well.
3) Bring them to a Discovery Weekend to see the countries you’re considering.
You are in a unique situation because you’re reading this newsletter and you already understand the importance of being international. Share the knowledge with the youngsters in your life. They’ll thank you later.