The life of a digital nomad sounds like a dream, sitting in the sunshine with your online business and a glittering pool in front of you. So how can you make a living as a digital nomad? This article is going to look at realistic ways of traveling the world while working in 2
Create An Investment Portfolio
An investment portfolio allows you to have a form of income that comes in regardless of how hard you work. A diverse investment portfolio is one that minimizes the risk of loss as it covers various investment sources.
There are many forms of investing, like forex trading, CFD trading and ETF funds. CFD Trading is an engaging way of making money as it allows you to take out a contract on a particular company and then make money by exchanging that contract for a profit when the market price goes up. All of these investment forms take time, so you can create a passive income stream by working with a broker to manage the portfolio for you.
Start An Online Tutoring Business
An online tutoring business is the perfect job for a digital nomad, as you can teach on Zoom from anywhere in the world. A good way to monetize your skills is through teaching English as a Foreign Language (TEFL), as a TEFL course is often globally recognized which allows you to teach in many different countries. If you are proficient in a second language this is also a useful skill. Essentially anything you can teach someone else will be a benefit to an online tutoring business.
Invest In Decent Technology
If your livelihood depends on access to a computer, you will definitely want to invest in a decent laptop and internet connection. Your technology will need to weather trips abroad, rainy days, and life in a rucksack. The better your technology and the resilience of the bag it resides in, the less likely you’ll be the victim of technology failure. Make sure wherever you’re staying has a lockable safe so you can store your tech securely if you’re living with others.
If you can’t think of a monetizable skill you can use to work online, then work locally at a restaurant, bar or resort. You can get involved in the realities of local life for a truly authentic experience. If you are looking to work abroad, make sure you have the right visa permissions before you search for a job. If you work somewhere with a local gig economy, try the local equivalent of TaskRabbit. Always make sure someone knows where you are and that any local websites are verified.
Life as a digital nomad is possible with a decent laptop and a monetizable skillset. If you can’t think of a decent skill, then teach what you know – whether that’s teaching English as a Foreign Language or showing someone how to play guitar. At the very least, you could work locally to keep the money flowing, but make sure you have the right visa beforehand so you’re not caught out at the last minute.