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For many adventure enthusiasts and travel bloggers, giving up the 8-6 p.m. grind, and going digital nomad is the ultimate dream. After all, if you are always traveling you can choose locations that offer the best surfing, skiing, paragliding, or trekking. However, becoming a digital nomad and uprooting your entire life is a big commitment. Indeed, there are many crucial things you must consider before you choose this option. Read on to find out some of the most pressing, below.
What you will do with your home and property when traveling
One of the biggest considerations for those considering becoming a digital nomad is what they will do with their home and the possessions that fill it while they are away. Happily, there are a few strategies you may wish to consider. The first is the most extreme and it’s selling your home, and slimming down all your possessions, only keeping the items that have a sentimental meaning for you and the things you will be taking with you when you travel. Of course, this can be a big emotional wrench, and it means that you won’t have a home to come back to if you do decide to return. Although, you will also have a larger financial cushion in case anything does go wrong such as losing your job while you are nomading.
Another option is to lease your home out while you are away. There are many benefits to this tactic including generating an income, which at minimum should be able to cover your mortgage. In turn, this means you get to keep the asset that is your home, which gives you more security financially for if/when you return, and a potential place to live. However it is worth noting that you will need to ask any tenants to move out so you can move back in, and so it’s best to put them on a rolling month-to-month contract. You will also need someone to take care of the property management side of things while you are gone such as a property management service provider who will fix any issues in your rental home, and make sure that the lease is collected on time each month.
How you will make money
It sounds obvious, but giving some serious consideration to how you will make money to fund your digital lifestyle is essential. After all, it’s not like being in your home country where you can apply for benefits if something happens and you lose your job. Instead, for the most part, you will have to stand entirely on your own financially.
Indeed, there are several considerations within this category that you will need to make. The first is what job you will do. There tend to be two main options here. The first is running a travel blog, filling it with content from your adventures. The second is working in a more traditional role remotely such as programming, graphic design, marketing, content writing, and the like. This second option can be done either freelance or working for a company and taking a wage. However, if you go for the latter option, you will need to get the all-clear to travel as you work, as it can affect a company’s tax claims. Some people use VPNs to get around this and choose not to tell their employers that they are nomadic, but it seems that many get caught out eventually and then put their job in jeopardy so you must think about this very carefully.
How you will pay your taxes
It’s also important to consider how you will pay your taxes when you are a nomad. Unfortunately, this can be a complex, and often confusing issue with regulations specific to your home and host countries. Where possible the best idea is to consult a tax expert that specializes in assisting digital nomads so you do not run into trouble with this later on.
How you will deal with a medical emergency when you are traveling
Adventure enthusiasts and frequent travelers know only too well that accidents do happen even when you are not in your home country. Of course, that means emergency health care and medical costs, which can be huge depending on your injuries, the care you need, and your location.
The good news is that you can help mitigate the unexpected cost of a medical emergency while nomading, by making sure you have the right insurance cover. Indeed, the right insurance cover can help you pay for emergency medical costs, as well as cover your possessions as you travel, among other things.
Choosing the correct digital nomad travel insurance for your needs can be tricky though, as there are only a few places that offer it. Fortunately, you can check out the
Two Tickets Anywhere post on the subject of digital nomad insurance. It will give you all the info you need about what it covers, and who the best providers are so you can be sure that you are protected even if disaster does strike.
Whether you have the right documents for the places you are going
Last of all, you will need to consider what documentation you will need to begin your digital nomad lifestyle. First of all, you will need an up-to-date passport. Indeed, it’s well worth renewing your passport before you leave, because getting this done out of the country is much tricker and more expensive.
However, depending on where you travel your passport is not the only official documentation you will need. For example, in Europe, you may need a Schengen or Non-Schengen VISA, while the US allows some people to enter with an ESTA. Although there are often restrictions on whether you can work in a country when entering on these types of VISAs you must check beforehand or risk deportation.
Where possible, choosing a country that welcomes digital nomads can often be the best choice. Currently, Indonesia, Thailand, Costa Rica, Croatia, and Iceland among other locations are welcoming digital nomads with a VISA specific to their needs.
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