Great, especially exciting to hear about youtube profits. Money are everywhere!
Hey Homakov, yeah it was crazy when Sean first contacted me. I was like there is no f-ing way he makes $30k from youtube, especially since I thought he only had his lifestyle channel 1 Min a Day, but in his talk he goes through how actually makes it from his online piano lessons business which makes complete sense.
The longer i’m in the community and the more people I meet, I realize how money really is everywhere. It’s all about having the abundance mentality and taking action.
I’m in Bangkok and don’t make nearly that much. Feel free to take me out to dinner
Hello, I am in the midst of transitioning from a government employee (stable paycheck with no freedom) to a digital nomad. While I am not expecting to be making $10K/month immediately, it is one of the eventual targets. Will definitely be checking out the links @johnnyfd shared.
Would need your advice on how to get started in making say $500/month initially? I have no idea how to do designs or web development. Have tried writing and pitching articles to websites and magazines but most have not been very successful. What would you recommend to someone who is just starting out?
Thank you for your help!
I’d have to disagree with the whole wealthy nomads are disconnected. From my experience, especially regarding affiliates, they all work together and have no need to extend beyond their network as it tends to be located all over the globe and they have loose connections with others of the same wealth doing the same things. It’s still Nomading, just with a little more flexibility and cash.
Anyway, if anyone’s in Amsterdam in like June, hit me up.
i dont wanna be ugly and call you ‘rich guys’, but i would be really-really interested in your opinion of my question here. if you could have a look and reply: Would you try living and working on a sailboat in Lake Balaton, Hungary?
thanks a lot.
btw me personally dont spend much during the plain weeks, i rather save, and spend later on sth bigger in one
I agree with your philosophy. I hate to waste money, although I splurge on a great hotel from time to time, but I always feel out of place in places like Laos dragging a monogrammed suitcase since I need it to carry my suits to my next destination for “work”. If you’re back in KL we can Nobu it up
the talks look really interesting but your website seems to be down…
I’m very surprising that the guy of “1 min day” can make $10k when his videos have 1k views :S
Hey Wolffan, NomadSummit.com is back up so if you wanted to watch the videos in the above links they’re back live again.
By the way, here’s my latest income report, I have a few thousand in extra income as well that I didn’t have time to write about so I’m just barely at $10k.
You always have to consider taxed vs. untaxed. 10k taxed in the US is like 6k of untaxed income.
Oh cool, thanks, I’m going to check out their links… I make a decent amount right now (there have been some bad, bad years though…) and hate ever being the one who can’t join friends out for some fun, so I have to find ways to keep the income up.
Agg, I need to figure out something I can give lessons on… lol. I do not play piano… well…
You don’t need to teach, you just need to create a system. Still, that may be too “entrepreneurial” to many people, and there always is a risk of failure…
I did think about that… to hire people… it would probably get complicated then with 1099’s and taxes, etc… I like to keep life simple.
Hey everyone, I’m really excited to share my first income report where I’m consistently hitting over $10k a month now, woop woop!
The great thing about being location independent is that I’ve been taking advantage of the foreign income exclusion which is good for up to the first $106,000 in income since I’m out of the country for more than 330 days a year =)
As an entrepreneur, it’s hard to claim a fixed income when your earning potential is infinite in both directions Whether you remote work from home or remote work from a different country, the nature of being a self-employed entrepreneur/freelancer can usually mean inconsistent income. Sometimes this works for you, and sometimes it’s the other way. I’ve had hugely earning months over time and also some where I make $0 or lose money depending on the business venture, market conditions and industry climate. It’s all about living realistically and budgeting wisely to make sure that your lifestyle can survive the bumps in the road. There are always unforeseen (and foreseen - taxes for example) expenses that come up on the nomad journey. I think we could see the same pattern for entrepreneurs who work “at home” in places like Silicon Valley, for instance. Businesses succeed and fail and formerly successful ones can also fail later on.
I’ve noticed that many nomads are on literally shoe string budgets and this can be a stressful way to live. It’s hard to be a paycheck to paycheck international nomad. I recommend to everyone to save up money before venturing into this lifestyle.
That being said, it can be fun to ball out when you can: fly business class, spend the day at a luxury spa, get bottle service at a famous club, stay at the Peninsula or jet over to Monaco. I know there are nomads who do this or can do this (but choose not to). My experience has been that most of the people who can live this way regularly are not in fact nomads, but ones who are traveling on a company’s dime. Business execs of multinationals usually have their travel expenses paid for by their employers so they don’t care how much their hotel room or first class seat costs. That is a nice perk of the job, but I think that we would all choose our freedom over luxury any day. I’d rather work for myself with financial uncertainty than have a typical 9-5 (or 8-11) corporate job that pays for a sky club membership.
I think that nomads by our nature may be less risk averse when it comes to being a nomad, but are more frugal with money because we want to be in this for the long haul. No matter how successful I am financially at a given moment, I still spend frugally because you never know when you’ll need it for a rainy day (or year) ahead. I treat myself once in a while but when you can live so well in so many places for a conservative cost of living, it’s hard to justify overspending for the sake of it.
Just FYI - you’d be surprised who is making what kind of money.
For me personally, I love the backpacker lifestyle. I’ll risk $5k on my business one day, then go out for a 30 baht dinner that evening ($1) and stay in a hostel with 10 other people. Living cheap, in my opinion, is pretty fun and is a more fulfilling lifestyle :). I dont like the idea of wasting my money on myself.
I agree. There are joys to knowing how the best things in life can often cost so little. But it’s important for DNs with good incomes to come forth because a lot of people assume the DN lifestyle is all about the 30 baht dinners.
There is a need now for people to know that you can be a DN and still be very successful. You may not have the ‘status’ that people get by being a manager or CEO at a big corporation, but you may still have a lot of money and freedom.
Hi there I’m currently in Bali (Ubud) till the end of January - and I do about $10,000 per month in revenue – but not all of that is pure profit as I do pay 3 staff members - however, I do find myself morphing into the kind of lady who doesn’t look at the prices on a menu, which is nice…
… especially considering I was sleeping on couches and working at a coffee shop this time last year, lolz!