One of the great benefits of making money online is having the ability to literally travel the world and live anywhere you want. You can backpack across Europe, you can spend a year in Asia, or you can live in a different US city each month. Being able to work on the internet gives you so much freedom. The world opens up to you and you aren’t stuck in one city, chained to a job that you are afraid to lose.
People who travel and work remotely are often known as digital nomads. Recently, I’ve decided to start doing some traveling and digital nomading myself. It’s not like I haven’t done it before, but for a while I made myself comfortable working in one place without actually going anywhere. That’s ok, but I decided I was missing out on too much.
Picking yourself up and going out of your comfort zone is always a little challenging at first. It takes a little bit of guts. However, you just need to DO IT. Once you start, everything will be easier. Start out slow, maybe going to Europe for a week while working online, and you’ll be prepared to do much longer next time around.
There are so many ways to earn an income stream that gives you the ability to be a digital nomad. Here are 10 ways to be location independent.
The best possible income is passive income. In the long run, you should try to set up many passive income streams so that all of your income is eventually passive income. Passive income is income that you earn while you sleep; you have to check in on it just once in a while. Work smarter, not harder!
Here are some possible online passive income streams:
1. Email marketing: A large email list is an amazing asset. You can spend an hour writing just 4 emails a week and earn a full-time income from that. Better yet, you can set up automated followups for 6 months or a year after someone subscribes — true passive income!
2. Blogging: If you own a popular blog, you can earn passive income through affiliate marketing or selling your own products. I consider it passive income, because you will still earn even if you don’t update your blog for a while. In addition, you can preschedule blog posts or outsource them.
3. Kindle book selling on Amazon.
4. Automated forex bots: If you know what you are doing, you can set up an automated forex robot and earn passive income from that.
Here are some ideas of offline passive income streams:
3. Real estate: If you own real estate, you can rent out apartments and houses and earn a passive income stream from that. If you hire a property manager, you don’t have to spend time managing the property on a day-to-day basis. Your real estate can be your own home – you can use it as an Airbnb to rent your extra room in the basement.
4. Stocks and investments: If you have a good investment portfolio, you can earn passive income from that. Here are four great investments to earn a passive income from.
5. Royalties on books and music.
Non-Passive Income Streams
You don’t need to have passive income in order to be a digital nomad. Any work that you can do online allows you the freedom of living wherever you want, as long as you have Wifi or a mobile hotspot. Howevever, you are gong to need to be great at scheduling your day so that you balance your working hours and the time you spend traveling. You may have to get up early, for example, so that you can put in a few hours of work before you start your day. Here are some ideas for non-passive income that you can use to be a digital nomad:
7. Writing: Freelance writing can be done from anywhere. Whether you own your own freelance business or you write for a content mill, if you earn enough income from it you can be a digital nomad.
8. Freelancing: You can do any sort of freelance, for that matter. You can be a freelance graphic designer or do freelance programming or coding. There are many platforms that you can use, such as Upwork or even Fiverr.
9. Trading: Whether you trade forex, stocks or penny stocks, you can definitely earn a full-time income from it. For example, once you are an experienced trader and know what you are doing, you can earn a full-time income from making a couple of forex trades a day in just half an hour or less. Of course, it takes time to build up to it.
10. Dropshipping: Dropshipping is great for digital nomads, because you don’t have to actually hold any merchandise. You do have to put in time and it’s not totally passive. However, you can always outsource many of the tasks to turn it into passive income.
Offline Income Streams
You don’t have to actually make money online to be a digital nomad! You can find work anywhere. Many people live in one place for a few months and work as a tutor for students who are learning ESL (English as a Second Language). You can work on a farm or kibbutz. You can do odd jobs. Be creative.
How Can YOU Do It? Make It Happen!
If you want to be a digital nomad, you are going to need to have a creative mind and an imagination. You need a drive to get it done in one way or another. Think about your own situation and how you can travel the world. Even if you are dependent on a job, you can set aside some of your paycheck every week or two hours a day to invest in an online business so that you can quit your job in a year from now. Maybe you can earn extra income, such as from a rental room, that you can set aside for traveling, even for just a few weeks. If you are already doing non-passive online work while traveling, such as freelance, consider investing some of your income into passive income streams so that you get even more freedom eventually.
Being a digital nomad takes preparation, work, imagination, creativity, drive, and passion. It’s not for everyone. But if you can do it, even for just a few months at a time or for a year after college, you’ll experience so much more than most people in their lifetime. It’ll change your life and make you a more confident and successful person.
If you’re interested in how YOU can earn income online and turn it into a full-time business, I recommend reading my Affilorama review. Sign up for your free Affilorama account to learn the basics of how anyone can earn money through affiliate marketing.