If you hate the idea of being stuck in the same place and the same lifestyle day in and day out, being a digital nomad is appealing. A digital nomad is a creation of the modern era where it is entirely possible to do work remotely. Those who partake in this lifestyle take advantage by using the modern telecommunications technologies to work from a variety of locations as they travel the world. In essence, this means they earn a living all while on vacation—as long as they have access to places like coffee-shops, libraries and recreational vehicles where there is an internet connection, they can work anywhere.
Inspirations for a Digital Nomad
One of the central draws of a nomadic lifestyle is the ability to travel and see the world. Another is not being as tied down to possessions as much of the Western world. It is an escape from the strings of society. Though there are some limits (i.e. it is really hard to do active digital work if you are trying to take a yearlong backpacking voyage) there are also a lot of benefits to being a digital nomad. A digital nomad isn’t stuck at the same office day to day. They can work one week from Paris and the next from New York… then move on over to Kansas if they really feel like it. And the less active a digital nomad needs to be in obtaining their income the more freedom they have.
Freedom is the key—freedom to enjoy their lives and families at their own schedule and not be bound by outside forces demanding that their time be spent one way vs another.
Planning for a Nomadic life: Passive vs Active Income
A nomadic lifestyle can be challenging. Less job security requires a financial cushion to be established before venturing out into your own nomadic lifestyle. It is hard to pull in the same amounts of money from active work when you are on the road. This is because many high paying professions just don’t offer remote work as an option. One of the things that can be vital (or at the least recommended) is developing a passive income, which means, having your work already out in the world pulling in a steady income for you without the need for constant additional effort. An example of passive income is royalties.
It takes a lot of time and planning to develop a passive income that can even come close to supporting you. Which is why it is best to plan ahead for a nomadic lifestyle by setting up the financial security you’ll need years before you set off.
But this doesn’t mean you have to rely entirely on passive income! Active income is entirely possible to make while on the move. Depending on your career path this might be relatively easy or it could be a challenge.
There are many benefits to being a digital nomad. You’re able to travel and see the world and are not confined to someone else’s schedule. Still, it depends on more than just ideals. In order to make the lifestyle work, you have to establish financial security while giving up a lot of stability. For some it is a fun adventure and for others it may be a lifetime commitment. A digital nomad schedule demands they give up too many of the comforts of home.