Do you dream of having the freedom to pick up and go for as long as you like whenever you like? There are two things that usually hold you back: Money (or lack of it) and the confines of your job. However, some savvy people with wanderlust have found a way to truly have it all. Whether it’s achieving a passive income or a job that allows you to telecommute, finding the right arrangement can make living a life of travel possible.
It all starts with looking at the options, figuring out which one is the right fit for you, and taking that first step. To begin, consider how much annual income you genuinely need to be comfortable, be able to save, and be able to give yourself and your family (if applicable) the kind of life that’s deserved. Some people can get by on little with frugal living and choosing the right travel spots, while others enjoy a little more cushion.
Here are a few avenues to consider:
1. Become a landlord
If you choose the right rental market and do a comprehensive assessment of potential passive income with rent after taking into account mortgage, maintenance and the like, you can have a regular revenue stream with zero work. Of course, being a landlord isn’t easy. That’s why you need to secure a great property management company to take care of the nuts and bolts while you travel.
2. Find a telecommuting job
More and more employers are discovering that they don’t need workers to physically come to an office, employees are often happier with telecommuting, and it can save the company a lot in overhead. Start researching complementary fits with telecommuting options, whether you’re in HR, sales, administrative management or technical writing.
3. Build your own virtual business
Maybe you’re a graphic designer, writer, consultant or have another very marketable skill. If you’d prefer not to work for a full-time employer, start building your own client and project base. No business is easy to get started, but it’s a little simpler to start as a virtual freelancer and make a name for yourself. If this is a good match for you, you can soon have the equivalent of a full-time income (sometimes a very lucrative one) while choosing projects you prefer while working anywhere in the world.
4. Hone your investment skills
Investing isn’t gambling, whether you’re considering backing a startup or honing your stock market game. If you’re naturally skilled at investing, it’s something you can do from just about anywhere.
However, don’t just dive in without a plan. Build up a nest egg and know that this type of lifestyle can be anxiety-inducing for those who need stability. However, for the right person, it’s a dream come true.