Leaving Wall Street for Bangkok | Dave Walker ex Wall Street Executive
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- เผยแพร่เมื่อ 19 พ.ค. 2024
- Leaving Wall Street for Bangkok | Dave Walker ex Wall Street Executive
Big thanks to my good friend Dave Walker for sitting down and showing us his perspective of life and living here in Thailand! Be sure to check out his blog below!
Dave Walker - duttawalker.substack.com/
Dave's LinkedIn - / davidjwalker1
0:00 Introduction
2:38 Dave’s Upbringing
3:30 Why Dave Joined the Army
4:23 Commissioning as an Army Officer
5:50 Units Dave served in the Army
7:25 Why Dave left the Army/Special Forces
9:12 First Impressions of Attending Business School
11:19 Dave’s First Taste of New York/Wall Street
12:24 Adapting to the Wall Street Life
17:21 Biggest Lessons from Wall Street Billionaires
18:58 What do Billionaires Care About the Most?
19:56 Peter Thiel’s ‘Self-Directed’ Roth IRA
21:25 What Led Dave to Leave the United States
25:05 Letting Go of Materialistic Possessions
26:15 The Effects of American Consumerism Culture
27:10 Hub and Spoke Traveling
27:49 Why Choose Thailand?
30:17 The Downsides of Working New York hours in Thailand
31:27 Saying Goodbye to Family/Friends for Thailand
33:36 Going Against Societal Rhetoric
35:25 Assets versus Liabilities
36:56 Realizing the True Values of Life in Thailand
37:54 Five Flags Theory
38:55 Future of Remote Work
39:18 Advice for Expats Living in Thailand
42:24 Importance of Having Core Group of Friends in Thailand
44:50 Follow Dave’s Finance Blog
Five Flags Theory/Perpetual Traveler - en.wikipedia.org/wiki/Perpetu...
How Peter Thiel turned $2,000 in a Roth IRA into $5 Billion? - www.marketwatch.com/story/how...
Business Inquiries - Contact me at info@forrestleeofficial.com
Book a Consultation with Me - www.forrestleeofficial.com
Instagram: / mr.forrestlee
I’ve worked with hf’s for 20 years…the arrogance is ridiculous. Thailand is a wonderful reprieve from judgement and sizing each other up in the USA. People of Thailand are amazing. It takes a year to get in the groove of Thailand and set down the US-centric way of life
hahaha, s o true! I'm prev. recovering Wall St here as well...8-yrs of that hustle and burn out BS....left me w/ 2 collapsed lungs by age 32. 2012 came for a month of Muay Thai training in Phuket and fell in love. A year later I gave my resignation at Macquarie, sold everything in my apt and have been in Asia since then. Best move ever and for my mental health. The US lifestyle is so toxic!
good work man, always choose what is best for you
Great points about working from your laptop. Staying mobile. He called it the more mature version of nomad.
Fantastic.
Explain that "the more mature version of nomad". I'm interested?
"mature" = "older". (I'm in my mid-50s.) I don't think he means anything negative about younger digital nomads
Definitely your best interview ever Forrest! Dave is a fascinating guy, great background.
Dave’s a really interesting guy. Great interview.
Dave is a connected guy 100%
Without connections and being the right race > A good job with great benefits is almost impossible to get on Wall Street in NYC!
Incredible interview- I like the thought process for using BKK as a base, and being able to move around SE Asia/ Asia. 🎉
Subscriber since the beginning of the channel-- this is one the most interesting/informative interviews to date. Thank you for producing this type of content.
Cheers, thanks!
There are many reasons to do so but the main one is the people. Thai people are the main reason I moved to Bangkok
Glad you like my country 🙂
@@Bows-Trading-System We can see how welcoming Thai people are from this comment alone. I have seen many like you in different walks of life and I assure you I will try my best to be a great asset to my host country.
Just wanted to stop by and tell you great interview. Seriously great job. And he is right about going minimalist. The more money you have the less useless stuff you want to own.
NYC, London, Nassau, Dubai, Bangkok is a good mix.
You need a lot of money to buy a nice apartment in London and New york
Another great video from Mr. Lee.
This was an amazing interview filled with life transperency, thanks Dave! I also work in hedge fund ops, so I can relate to most of what you mentioned
And, the euphoria you feel from getting rid of your possessions is best described as a catharsis. The reason for this is that you are now in control.
Thank you for this very interesting interview.
What a great episode. Thank you. I enjoy your channel.
Fantastic Interview. Thank You.
This was good. Well-spoken and soft-spoken man. Thanks.
"Everyone keeps building shires to themselves" 100% Still working on my minimalist life...
thanks for the valuable interview. it (n some of the comments) was a mind opener for me. I didn't realize ex-wall street folks moved to Thailand. I thought Thailand for retirement (or career later-stage) was primarily for budgeting reasons.
I also started my career in investment banking n got my mba from Chicago. went the consulting route (bcg, McKinsey) n ended my career in asset management n a little PE. now i just trade for myself. currently, I live in Singapore but I'll check out Thailand later this year. similar weather but a huge difference in cost of living
Great interview! You need a round 2 with Dave about that rabbit hole he was going down about things going extinct.
Great coverage and insight.
Very cool interview 👍
good interview. keep it up
Really cool interview!
Great interview
I am in the industry, in the RIA Wealth Management side. Very interesting interview. Trying to get my wife to shed some of the crap we have accumulated. I will send this link to her to help the cause lol. Visited Thailand last year, we are returning in November. I have a travel blog as a hobby blogging about my hobby/addiction traveling the world utilizing frequent flyer miles and points. This time both of us fly there for $16.20 and staying 21 hotel nights at a Hyatt for free. Details in my last blog post. New subscriber, thanks for the content.
Also, over the years, I found people who served, in general, incredibly hard working and super reliable, they have theirshhit together. Like Dave.
Great content. I hope people pay attention. Everyone struggles with a changing world. Some people adapt and live a good life, others are afraid of change and don’t figure things out until it’s too late.
Just seen a short few minutes, but this shoulve been an interview done in a more quiet place for an optimal listening experience.
Going to watch it anywas, interesting topic.
That was great thanks!
great interview!
When are you coming back to Thailand?
@@MrTeslaX I’ll be back in late May for a few months.
👍🏻🙏🏻 from FRANCE 🇲🇫
Fantastic! Getting a Quiet Professional to speak on camera is exceptionally rare. Salut.
So true..minimalist feels way better
Dave is rich because of his golden parachute benefits, bonus annual money and a passive income portfolio after getting an opportunity to work on Wall Street!
Great interview and interesting guy! btw, love those Stan Smith Tennis Shoes...i have the green ones lol
Great interview 😊
It's true that the more we collect things, the more we attach to them. I don't usually collect stuffs but I recently cleaned out my closet which was full of clothes I didn't wear for years. I felt the sense of freedom right away.
Great interview Forrest
Thanks Tim!
amazing!!
An interesting interview to say at the least. I'm shaking my head in slow motion trying to remain positive and optimistic. The pace at which this bloke "Dave" speaks is a million miles an hour. Perhaps due to a high intellect or perhaps for other reasons. Curious to know if you did any back ground checks or verified some of the contents that was spruiked here ?
This guy got a wealth of information.
Dave is very interesting, ur best interview in my opinion. I moved to Spain and have a complicated tax situation owning a corporation as a US citizen. Hard to escape US tax liabilities foreign banks still report to FINCEN. yes it sucks being a US citizen overseas
between 2002 t0 2023 the native Spanish population has rapidly declined from 95.76% of Spain's population to just 83% today. A decline of 12 points since the turn of the century. More than 20% of all births in Spain are to immigrants. This will worsen.
@sokaiya1 the USA is worse 2M+ illegal migrants that have no background checks. Prisons emptied into the US from Central America and Africa and Middle east I will take my chance here good luck if Trimp don't win.. Damm shame
@sokaiya1 the USA is better off with 2M+ illegal migrants with no background checks LMAO. Jails from C America Africa Middle east were emptied into the US like castro did not to mention all terrorists they caught at the border. I will take my chances here .. good luck if trump don't win ..
Crypto
@@sokaiya1Look at Germany’s population statistics. While there is a big decline of the birth rate in Germany (.5 birth per woman average), the fertility rate for German immigrants is a lot higher; thus the average birth rate for Germany is 1.6 births per woman.
Great interview, I really enjoyed his story. Good points on materialism and living minimal. His explanation on selling his stuff was spot on.
Staying mobile around Southeast Asia is a good plan.
Thank you again.
Hey Forest Great Interview, can you provide a link to Dave blog? Thanks
Check the description
CERTIFIED BADASS. I want to like this video 5000 times. Pickleball is the best. Dave's humility is completely unmatched. Love you both.
Kingsport! I'm living there now. Middle of freaking nowhere, nothing to do, and it's great. ;-)
I moved to Jomtien, and it would be nice to meet you and Dave. I'm a Yank assisting the Thai gov't w/ increasing its AI workforce
That's a dream job!
@warodomthamrongthanyawong691 It's not a 9-to-5, it's more of a contract/project. Or will be
Great video! (Fixed focus next time.)
Wow, he is quite successful in the US so the cost of living should not be the main driven reason for relocation.
Wow! Great interview. Great points on the personal finance aspects of just overhearing stuff about how rich people do things. I had a similar experience (ex-Big 4 Auditor).
re: Stuff: Great point about the Craftsman tools. Sharing economy has a lot to recommend it. Especially since we can project ourselves via transpo/communication/information revolutions. So live in SE Asia and earn in the West.
Both you guys said you use Thailand as the hub--if not too personal, what sort of visas are you on? Did you do the 5/10/20 year golden visa? Something else? Agree with the periodic moving part [5 flags] but I have... two large dogs! So I have to figure that out...
I served in Sang Bang and Dang Gong, a lot of places. I was in specialist tactics, airborne tactics, unit batallion. It was real "hush hush". I was Special Agent Orange. Agent Orange, that was me.
The things you own end up owning you.
George Carlin: You need to rent a place to put more STUFF
thank you for making chapters
also, after going there then coming back to the US, the biggest way i can summarize the difference is - imagine songkran (holiday where you spray people with water guns on the street) in america. you'd literally have multiple murders & tons of fist fights. americans are just aggressive for no reason. thailand everyone is having fun
subbed
Does Bangkok have a similar feel to Ho Chi Minh, or totally different? We may come out and see Thailand this summer. Went to Malaysia and Vietnam last year
Man, just ask some hard questions such as how them wall streets frontrun retailers with bunch of fees and commissions in the 80s and 90s
Lucky guy
My Money manager charges me 1.25% and gets me average returns. The money I manage I split between the VTI and VUG and outperform him. I often wonder why I'm paying for average returns. I like the way this guy thinks.
In one breath, Dave argues you don’t need a lot of things. In the next breath, he says he enjoys flying business class and staying in 5 star hotels. I agree, for the most part, with the former, but not the latter. Also, he proposed the hypothetical where several men shared ownership in one set of tools. With an MBA background, I am sure he is familiar with The Tragedy of the Commons. Single ownership allows property owners to internalize the externalities in protecting one’s asset. If you share a set of tools with several co-owners, guaranteed the best tools will go missing from theft or moral hazard. You’ll be left with only the tools no one wants to use. Additionally, what if there’s an unexpected crisis and you need a vehicle to get somewhere or away from somewhere as soon as possible? Are you going to lean on Uber in a time of crisis? Complete ownership of assets still has its value in many circumstances.
34:25 the truth has been spoken
sad story hope you recover
Don't you miss it how it was nice and dry in CA? Oh you can't go back even if you wanted. How about one of the Dakotas? Can you, I mean are you able to move back there?
Is that the commons ?
Ok nice
Presented as an over-caffeinated humble bragger (there’s millions of fellow millionaires out there, amigo, nothing special there, so try easing up on that throttle), and yet seemed like a decent bloke overall who was asked to publicly share his story. It’s always good to see a fellow brother carve out an awesome new Plan B life in the East that’s better than his previously nuked Plan A life in the West. Cheers to that, 🍻
Nobody does being triggered better than a triggered westerner. Cute!
Giant scrub has been announced!
ho there is an awfull problem with toxic air quality here ;not very good for sport and for walk in the park ;another big problem is traffic jam and the road they re so dangerous
;and with the hot weather after 10AM Morning go outside look impossible.....
take care
So negative in life! People make the best of it. No matter where you go, there's always a problem.
@topgammar3763 sure bro but why people forget every time to point it, health is important , pratice sort every day and eat healthy food is important for some of us
Food in the US is not healthy at all. Living in US nowadays quite suck. Lots of homeless, drug addicts and etc. You dont feel safe roaming around by yourself especially at night unlike in asia or bangkok
@@ennemidestas5921
Based on the record of Life expectancy (2021):
Country Life expectancy
United States 77.50 years
Thailand 78.72 years
Bangkok will lower your life expectancy with the insane air pollution. Anyone who downplays it is lacking IQ
Nice interview but not sure why he needed to say he flies business class and stays at 5 star hotels.
Bangkok anyday over New York
คุณควรใส่ซับไทยเวลาสนทนา
Bangkok: respectful people behaving themselves
New York: rude people not behaving
this is why you buy index funds && maybe speculate a little in something like Bitcoin or metals ... none of these MBA BROOOooos beat the market. High finance is just over-complicated jargon and Sales
Another video where Forrest skirts any visa conversation. The guy mentions working on zoom but no mention of a working visa or how he’s managing to stay in the country legally. He mentions working from all these different countries, but Working on most tourist visa (or the elite visa) is just plain illegal.
He’s a green Barry??!!!
What is the location of this interview ?
Commons. Why? You wanna meet him
?
@@chinobonito30 The place looks amazing, that's WHY.
No, but thanks. Was in Bkk pre-covid, will revisit in a few months. Looked like a nice place to visit. Enjoyed the decision story of moving from NYC, where I live, to Thailand. Also a Wall Streeter.
My colleague Nancy Pelosi got very rich while in the senate using Wall Street. Highly recommend it.
Bullshit. She was never in the senate. And most of her wealth comes from her husband, who has been an investment banker for years.
*dissatisfaction I think you meant to say, not dis-satis-fa-cation.
I love how he positions this guy as some superstar. lol. Too funny. Successful Wall Street guys don't move to Thailand. That's fact. We stay in advanced nations. He's close to broke.
Mmm. My observation. The world does not revolve about America ..?
wall streeters used to impress me but now i detest most of them. anyone who dedicates his or her life to chasing money is not my idea of someone to look up to. the only reason people work in hedge funds or on wall street is money. its not to help others.
gee we all do our jobs for money and lie about our intentions see dopctor that say they treat help people but yet no doctor volunteers for poor people 1 day per week etc etc
Wrong. You can donate once rich
They are helping others get money
@@christophersukkar9835 most wall streeters are crooks. you should give him all of your money buffalo
Wall streeters are just middlemen who skim off the top. They don't produce anything. I can understand why people detest them.
How do you compare a developed superpower to a third world country like us? I, as a Thai person, am very disappointed that we ourselves have everything good but are not developed and developed well because there are politicians who corrupt and do not stop our country, so we are underdeveloped even though we should be able to go far. than this But the development had to be stopped because of evil politicians. Whoever sees my message, please know that I am waiting for someone who can come and fix Thailand. I hope that one day Thailand will develop more. Thank you.😢🙏🏻🇹🇭
He conveniently left out how his mother hooked up with Tom Sellick’s father!
he’s wrong about 1 thing … nyc has tons of motor scooters now on sidewalks illegal immigrants all over. head on swivel
😅
I love it
I live in Philly and two recent trips I took to New York I did not see any illegals standing in line or camping anywhere. Where yall hiding them?
@@harlem_777when u go to a doctor and he says "i dont see the virus" do you think and conclude that you arent sick then?
@@DarkoFitCoach yeah lol don’t think this question was asked in good faith
This guy sounds like he is regurgitating an exam study guide on securities and not from high level wall street experience..
Bahahahaha
Nice interview with conflicted guy. Sells all his material items but wants to live in a high end mall with Gucci and Prada. Too funny.
NYC sucks just like Vegas in Nevada!
Leaving NYC to live in BKK is a huge fail.
That is interesting. How do you come to this conclusion?
Material attachment chain you down from true freedom.