Key insights

• 🌎 Derek Morgan Jr. is a thriving trademark attorney in Mexico City, appreciating the vibrant culture and lifestyle.
• 🗣️ He is actively learning Spanish and making local connections to enhance his immersion in the city.
• 💼 With 5 years of experience, Derek offers a range of trademark legal services and aims for a yearly income of over $350,000 by 2025.
• 🤖 He has streamlined his work operations through the assistance of a paralegal and AI, balancing long hours efficiently.
• 🍽️💰 Derek manages his finances by enjoying gourmet dining while also investing in retirement accounts and real estate.
• 📈 He believes in the importance of early investing for financial security, drawing inspiration from 'The Richest Man in Babylon'.
• 🚀 The transition to freelance work amplified his income from $5,000 to $10,000 in just six months.
• 🌍 Derek views money as a means to achieve freedom and options, seeking financial independence while enjoying life in Mexico City.

Q&A

• How does the cost of living in Mexico City compare to Chicago? 🏙️

  Derek notes that the cost of living in Mexico City is lower than in Chicago, allowing him to manage his finances effectively; however, it still requires careful budgeting to maintain his desired lifestyle.

• What is Derek's perspective on money? 🌍

  Derek views money as a tool that provides freedom and options in life. He is focused on attaining financial independence and enjoys vibrant experiences, particularly in culturally rich places like Mexico City.

• How did Derek transition to freelance work? 🚀

  After starting in contract review and trademark law, Derek quickly grew his freelance income from $5,000 to $10,000 within six months. He became fully self-employed after one year, targeting first-time business owners and entrepreneurs as his clients.

• What lessons on investing does Derek follow? 📈

  Derek believes in the principle of 'paying yourself first' from 'The Richest Man in Babylon.' He emphasizes the importance of early investing for financial security and has successfully invested $125,000 in cryptocurrency, specifically Bitcoin.

• What are Derek's financial strategies? 💰

  Derek balances frugality with his passion for dining out, spending between $1,500 to $2,000 monthly on food. He also invests in retirement accounts, real estate, and adopts investment strategies to prepare for early retirement while minimizing market risks.

• How does Derek manage his workload? 💼

  Derek enhances his work systems by employing a paralegal and utilizing an AI assistant, which helps streamline operations. This allows him to efficiently manage his legal practice as a trademark attorney.

• Why did Derek choose to live in Mexico City? 🇲🇽

  Derek loves the vibrancy and culture of global cities, especially Mexico City. His passion for travel and exploration, combined with the city's rich cultural heritage, motivated him to relocate there.

• Who is Derek Morgan Jr.? 🌟

  Derek Morgan Jr. is a trademark attorney based in Mexico City, where he thrives in the local culture. He has over five years of experience in his field and aspires to earn more than $350,000 annually by 2025.

• 00:00 Derek Morgan Jr., a trademark attorney thriving in Mexico City, embraces the city's culture and aims to stay long-term while also looking to earn over $350,000 a year by 2025. 🌎
• 01:17 The speaker has improved their work systems with the help of a paralegal and an AI assistant, allowing for more streamlined operations. They enjoy traveling, having visited 60 countries, and particularly love Mexico, which is why they moved there. They note the cost of living in Mexico City is lower than in Chicago but still requires budgeting.
• 02:24 The speaker manages their finances by balancing frugality with a passion for dining out, spends heavily on food, and invests in both retirement accounts and real estate to prepare for early retirement while mitigating market risks. 🍽️💰
• 03:14 Investing early is crucial for business owners, inspired by principles from 'The Richest Man in Babylon', while also reflecting on a personal journey with cryptocurrency investments. 📈
• 04:14 The speaker transitioned from contract review and trademark law to fully self-employed freelance work, quickly increasing their income from $5,000 to $10,000 within six months before becoming fully self-employed after a year. 💼
• 05:15 The speaker sees money as a tool for gaining freedom and options in life, focusing on financial independence and enjoying vibrant experiences in places like Mexico City. 🌍