One of the benefits of having an overseas passport is that it greatly simplifies travel, especially if you invest in citizenship in Schengen Area countries. This means that you will be able to travel visa-free in Europe and will be free to live anywhere on the continent once you have obtained a passport.
EU passport: Cyprus. Montenegro, Turkey.
North American passport: Saint Lucia, Saint Kitts, Grenada
Oceania passport: Vanuatu