Digital Nomads: The Future of Work
What does it mean to be a digital nomad?
A digital nomad is anyone independently working through a variety of innovations and technologies to stay connected. They can be spotted in your local coffee shop, on white-sand beaches abroad and, of course, in remote locations. As a digital nomad, your office can be almost anywhere you want it to be.
A few of our Metrics team members have field-tested the remote-working lifestyle, and although it’s not sustainable for everyone, we predict that the number of digital nomads will grow substantially over the next few years and could one day surpass traditional-style workers. Currently in America 4.8 million people have made the switch to digital nomadism and that number is continually rising.1 In the last few years the CEO, CFO and a couple of staff members at Metrics have fashioned distant offices in places like Jamaica, Thailand, Alaska, Desolation Sound, and countless off-grid stops along the way.
If this type of lifestyle appeals to you it might be easier than you think to make the switch. How can you become a digital nomad?
Step 1: Minimize expenses, ties to one location, and eliminate unnecessary belongings.
Digital nomadism requires you to travel light and have some money in the bank, start by prioritizing what you absolutely need and what you can cut out.
Step 2: Define your skill, become a freelancer and build your business.
With help from sites like We Work Remotely, RemoteOK, and Upwork you can find an array of flexible freelance gigs to get you started on the right path. They make it easy to search by skill or profession and post only jobs that are location independent.
Step 3: Choose your first location and decide how you want to travel.
Digital nomads can live in many different ways, such as living aboard a sailboat, RV, van, or simply backpacking around. Research how you want to travel and figure out what’s best for you.
If you’re still unsure there are a multitude of youtube videos that can help inspire you and get you closer to your goal. Some of our personal favourites are SV Delos, Enigmatic Nomadics, and Grateful Gypsies. These are just a few but the list is endless, plenty of people are making this a reality and you can too!
1“Digital Nomads: A Rising Workforce Trend”. MBO Partners. 2019.
Disclaimer: This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice, nor does it constitute solicitation to buy or sell any securities referred to. Any tax information published on this blog is based on the facts provided to us and on current tax law (including judicial and administrative interpretation) during the time of publication. Tax law can change (at times on a retroactive basis) and these changes may result in additional taxes, interest, or penalties. Practice due diligence and if in doubt, speak with a member of our team.
