Insight into digital nomads

[JordanK]

How do you guys get around from country to country? Flights.. Rail.. Bus?

 

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[MJ DeMarco]

How do you guys get around from country to country? Flights.. Rail.. Bus?

 

[GlobalWealth]

How do you guys get around from country to country? Flights.. Rail.. Bus?

Yes

 

[Achilles]

I run a couple of businesses.

1- US corporate services - registering LLC's etc
2- offshore corporate services - registering LLC's, IBC's, etc
3- offshore trust company - trust administration and fiduciary services
4- membership site and live events

With the trust company, we have an office in the Caribbean for admin staff. Otherwise we are completely virtual. Our team works and lives all over the world.

Yea I'm a subscriber to u

 

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[GlobalWealth]

Yea I'm a subscriber to u

Including you, that makes 2 of us

 

[Twiizlar]

@GlobalWealth

I need a new enviroment. My parents are putting so much pressure on me and I just need to be free. I am currently in college and plan to drop out and become a "digital nomad" . I want to return to the USA after 2 or 3 years after i establish my business (dont have one know).

The only problem is, I do not have a business. I have started and failed many. My next venture will be a social media consultancy (fully digital). The only thing is I have $0 to my name therefore do not have money to buy plane tickets/pay rent. I am most likely going to get a job. How much should I save up before making the big move? How much money will I need to live in another country for cheap (Thailand, etc)?

 

[SlowlaneJay]

@GlobalWealthHow much should I save up before making the big move? How much money will I need to live in another country for cheap (Thailand, etc)?

How much money to save

Cost of Living in Thailand

So you scrapped the Uni Bundles thing?

 

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[Growth & Learn]

Enjoy the area. Find the hidden streets. It's not a vacation. It's a lifestyle.

This nails it right here. Great statement.

It definitely can work with you if you do it the right way.

I have 2 pieces of advice for you as you built your framework to do this.

1. Set up automation systems as much as possible. 85% of 1 of my businesses is automated now. Every month this # increases by 1 or 2%. This allows me to go on extended trips for weeks at a time if I choose to. Eventually when it's 99% automated this business will run and grow with me working very little on it.

Every time you run into something critical and need to come up with a solution…think…how can I automate this in the future?

2. Hire good support staff. Don't do that cheap VA outsource garbage for $2 an hour. You get what you pay for.You'll be stressed the whole time you're traveling and you'll never be able to trust that things are being done correctly. Good employees = piece of mind.

 

[GlobalWealth]

How much should I save up before making the big move? How much money will I need to live in another country for cheap (Thailand, etc)?

This question is impossible to answer. Let me give you an example. Years ago (before I knew her) my girlfriend moved with her best friend and best friend's 1 year old son to Portugal. They saved up for their plane tickets (one-way) and bought them in advance. When they got on the plane they had less than eur1000 for all three of them. And none of them spoke Portuguese.

That gave them enough money to pay rent and food for the first month in a very small apartment and eating only at home. Nothing more. But they survived. Within 2 weeks both of them found jobs. They lived in Portugal for about a year with zero outside assistance.

To me, that was very courageous and I am proud of her for that. I am not sure I would have so much courage.

When I first moved abroad, I had just sold a company. I would love to say I made a gazillion from the company, but in fact I paid off my debts and was left with some cash. Not huge, but enough. Much more than my girlfriend and her friend had for sure. Of course at the time I also had a wife and 3 kids to support (now divorced). And I had almost zero cashflow.

I quickly started earning money from consulting and from trading. And did well. Very well in fact.

My point is that everyone's situation is different. Your own level of courage and confidence is what really matters if you want to make the change.

Are you willing to buy that one-way plane ticket with 1000 in your pocket and burn those bridges (metaphorically)?

If not, then maybe you don't really want it that bad.

 

[GlobalWealth]

2. Hire good support staff. Don't do that cheap VA outsource garbage for $2 an hour. You get what you pay for.You'll be stressed the whole time you're traveling and you'll never be able to trust that things are being done correctly. Good employees = piece of mind.

This cannot be stressed enough. Have a really good personal assistant. I have had 3. The first one was the cheap $3/h one. She was ok for REALLY basic tasks, but nothing that required any thought.

My 2nd one was $11/h. She was amazing. She managed my travel bookings, my appointments, and client replies. She was part time 10-15h/w and did phenomenal. She was PA for me and 2 others. The only reason she left was she got a full time job in an office setting and had to drop all 3 of us. She even worked out a 2 month notice and handled all my travel and schedule up until the last day. We are still friends and I would recommend her for any job.

My 3rd one is about $11/h. She is relatively new, but still great so far. She does the same tasks as the one before, plus a couple of other new tasks.

I use Google calendar which syncs with my phone and thunderbird on my computer. She has access to my Google calendar and can add and change appointments as needed. This is huge and one big benefit to technology. We communicate daily via Whatsapp or email, and sometimes skype or phone - again benefits of technology.

Just for my travel reservations having a PA is worth it. I travel a lot. I am flying internationally at least every 2 weeks. Many times I have multi-stop flights where I visit 2, 3, 4 or more locations in one trip. Just the simple task of buying my plane tickets can be exhausting.

It can take 1-3 hours per trip just for booking flights, hotels, car rentals, etc. at times. If I pay her 20h/m at $11/h, that is $220 in cost. That is less than my hourly billing rate. She can save me more than that in just one flight. Not to mention all the other tasks she provides.

I read a quote once that said, "If you are an entrepreneur without an assistant, you are the assistant".

 

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[GuestUser116]

Within 2 weeks both of them found jobs

Is it that easy to find a job? How old were they?

 

[GlobalWealth]

Is it that easy to find a job? How old were they?

At the time they were both in their mid-20s.

I personally have no idea how easy it is to find a job. I haven't had one in 20+ years.

But I do know how to provide value. And if you can add value, then you can always find work. Either get a job or make one.

 

[Bila]

Great thread ....I am looking to do that ...with an 8 years old ( crazy i know ) ...Not sure yet if we are going to settle for one location for 6 months- a year then move to another one, or travel every 3-6 months. ....
In the process of automating my business then ....the world is ours !!
School ? Homeschooling ( it helps that i am a teacher by trade )

 

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[GlobalWealth]

Great thread ....I am looking to do that ...with an 8 years old ( crazy i know ) ...Not sure yet if we are going to settle for one location for 6 months- a year then move to another one, or travel every 3-6 months. ....
In the process of automating my business then ....the world is ours !!
School ? Homeschooling ( it helps that i am a teacher by trade )

I originally did it with a 13, 9 and 1 year old.

Look at internationalvla(dot)com. It is an online school designed for expat kids. Also check out khanacademy(dot)com

 

[Bila]

I originally did it with a 13, 9 and 1 year old.

1 year old ....That's brave.
Thanks for the info, i am familiar with khan academy but not the other one.

 

[JordanK]

Where are people going traveling to this summer? I'm looking at travel options. Are there any big events happening around Europe that would be worth making a trip/stay around?

 

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[Phones]

Don't go to a country like Portugal or Bulgaria to "build yourself up" while working regular jobs. Really. Getting paid 400€ monthly to work 9 to 7 isn't anything close to awesome.

Most of you guys are in the US, a good savings account for most of you is >50k. That netting 10% is enough to cover your basic living expenses in Portugal, Bulgaria, Thailand, etc. Having that covered, you can actually work on you instead of slaving away to pay the bills.

PS: Going to Taipei for 6 months in exchange. Thailand or China might me next, but for shorter periods of time. 1-2 months probably.

 

[marklov]

@GlobalWealth

I need a new enviroment. My parents are putting so much pressure on me and I just need to be free. I am currently in college and plan to drop out and become a "digital nomad" . I want to return to the USA after 2 or 3 years after i establish my business (dont have one know).

The only problem is, I do not have a business. I have started and failed many. My next venture will be a social media consultancy (fully digital). The only thing is I have $0 to my name therefore do not have money to buy plane tickets/pay rent. I am most likely going to get a job. How much should I save up before making the big move? How much money will I need to live in another country for cheap (Thailand, etc)?

My plan was to move to the Us and I thought thats how my biz would take off but trying a few stuff in my country things are working out better than I thought, even discovered the motherload of a fastlane opportunity...
With my launch finished, its time to grow then scale.
Once this is stable I plan to base in the philippines for awhile I was over there a bit and the only thing that I didn't like was the greasy soupy food but I have had much worse LOL.


If you want to make some money here is what you do.

Assess what skills you can use online or even your surrounding city area.

Get an VOIP skype, ring central, nextiva , phone there are many...

Hop onto YP or Manta look for some Biz's that you can add value to esp
ones without a website but have a PAID ad space, those guys already get the idea.

Scrape the numbers and do at least 50-100 dials a day eventually you want to be making
100 calls/hr out of 100 calls you may get 2-4 leads.

Follow up on those leads and close them over the phone or
set an Apt, print an outline, walk in , discuss and use a pen and go down the list
as you clearly explain what it is that you will do.

Talk in their language biz owners don't care for SEO , Ranks or backlinking the quantum reactor to the sour puss fluxator, they know why they need a website or whatever you just have to convince them why to buy from YOU, remember your not offering a service but value!

Collect their information for what you need to do, take payment upfront or no less than 75 percent

Deliver your product

Rinse and repeat.

Oh, read Icecreamkid's thread I don't remember the exact thread but you'll know it if you search.

If you do this right it wont cost you a dime unless you do unnecessary things.
Keep it simple.

 

[Jill]

I am currently in college and plan to drop out and become a "digital nomad" ....The only problem is, I do not have a business. I have started and failed many.

I'm sure there will be those who will disagree with me on this. But I'm sure your parents would be a little more supportive if you had actually put something in place already that was producing SOMETHING. What makes you think you can make enough to support yourself as a "digital nomad" if you can't even get something started while (I presume) your folks are footing (at least some of) the bills? Use your weekends and evenings to lay the foundation of a business that meets a market need. THEN you have an argument that you just need more time/freedom to grow it. Right now, you don't even have anything to build on. Be smart. Otherwise, you'll end up taking a low-rent job you don't want in order to cover your basic expenses and be no better off than you are right now.

The flip side of that coin is that some people will work harder when a fire of desperation is set under them. Only you know that.

But don't be upset with your parents for wanting what THEY see as the safest path for you. I don't know them. But as a parent, I can almost guarantee that it comes from a pure heart. Be respectful. Even if they're wrong.

 

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[Leo Hendrix]

Planning to do so soon, plan to set up shop and live in Thailand ( Chiang Mai) for a while, not sure exactly when I will move.

I'm still operating 100% offline but self-employed, working on my digital fastlane as we speak, so I might just have to man up and leave with whatever savings I can take or my next lump sum.

 

[Rawr]

@biophase @GlobalWealth I am doing the same thing with trying to be a local more than a tourist. But I think I'm having a bigger problem with being TOO "as if I am at home." I make myself get out of the house every day even if it is just to a cafe, but for example in palma, in local area, there would be days I wouldn't leave the house. Then I have to ask myself - WTF, are you wasting this?

In Barcelona that's a lot easier, tourists literally walk under my window all times of day and night. I am in the bloodstream of the city as I leave the door.

I tried to think of the good way to think about it - "yeah, maybe you stay at home, not even being productive but just hanging out on some days, but you're not actually paying a huge premium on this living, you're paying maybe 20% more than you'd be paying back home, so as long as you go out even 1/3 of the days, you're ahead. And you're still in another country.