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The Pros and Cons of Living as a Digital Nomad

Published: 27/06/2017 - Filed under: Home » News »

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Being a digital nomad is the hot new trend right now, and what is there not to love about this new lifestyle? You get to travel the world with nothing but your backpack and a gut full of gusto, and enjoy exotic locales while doing the thing you love. However, doing business as a digital nomad isn’t as simple as it seems, and isn’t necessarily for everyone. In this article, we’re going to give you a few pros and cons of the digital nomad lifestyle to see if it’s the right choice for you.

Pros of Being a Digital Nomad

1. You Get to Travel the World

One of the most obvious advantages of being a digital nomad is being able to travel the world and see new places. Many locations around the world are perfect for digital nomads because of their excellent connectivity options, friendly locals, nice atmosphere and relative safety. And since more and more expatriates are working as digital nomads, you’ll find tons of people that will make you feel right at home wherever you go.

Changi

2. You’re Your Own Boss

Another aspect that attracts a lot of people to the digital nomad lifestyle is the freedom of being your own boss. Being a digital nomad allows you to enjoy all the perks of a 9-5 without having to report to anyone. In addition, your dollar stretches much further when you’re overseas, so you can afford to leave a position that would pay a little bit more in your home country to do some freelance work overseas.

3. More Motivation

Since you’ll be responsible for your paycheck and get to enjoy more freedom, you’ll eventually have more motivation to get things done, especially if you’re doing something you love.

Cons of Being a Digital Nomad

1. Lack of Stability and Limited Options

Some business opportunities demand that you have a foot on the ground at all times. Take real estate, for instance. More often than not, investing in real estate in foreign countries can be very difficult if you’re constantly moving from place to place. Being a digital nomad makes it hard to invest in things like real estate and take advantage of a 1031 exchange for instance. So, depending on your line of business, being a digital nomad can be damn near impossible.

2. Alienation

While many people like the sense of adventure being a digital nomad provides, many end up feeling homesick after a while. Changing air from time to time might be fun at first, but some people end up realizing how important their home base is only after they’re gone.

Conclusion

So, would I recommend you jump on the digital nomad adventure? Well, only if you have the personality and motivation it takes to get the job done, even if you’re surrounded by paradise and a myriad of possible distractions. If your line of business allows it and you don’t have an issue being away from your loved ones for months or even years on end, you should definitely give it a go.

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