Times are a changing and paradigms are a shifting. One rising trend is that of the digital nomad. Armed with wireless internet, their smartphones, tablets, laptops, cool travel bags, and their wits digital nomads work remotely wherever they decide to live or travel. As long as you can do/submit you work via the web, these days you can roam as freely as your hearts content. Add cool services like Airbnb and Turo, and you can find an affordable place to stay and a car to get around pretty much wherever you go. Digital nomads also make use of coworking spaces, cafes, house sitting agreements, and shared offices in to do their work. It's really up to you to get as creative as you'd like. So what do you think? Could you be a digital nomad? Before you start dreaming of filling your Instagram feed with pictures of you and your laptop in exotic places, let's examine so of the pros and the cons of the digital nomadic lifestyle.
The most obvious advantage to the digital nomad lifestyle is of course the ability to travel freely. With no brick and mortar location to tie you down, you're free to work anywhere you can get yourself set up. There's also the freedom from a rental agreement. What most people find they dislike most about their jobs is not the work itself, but rather the work environment, the co-workers and the management. Being a digital nomad offers recompense from what has become the standard stale office archetype. Traveling often means you're also getting accustomed to new cultures and worldviews and new environments. Seeing more helps to expand perspective and creativity. With proper budgeting and taking advantage of travel and lodging savings programs, you can begin to build savings to invest in your business and to enjoy and experience more life.
It's not all sunshine and rainbows on the digital nomad trail. Being far away from friends, family, and familiar environment can be difficult. You will have to adjust to different laws, customs, time zones, and life philosophies. Majority of digital nomads rely on wifi to get their work accomplished, and there are times when travel can present a difficulty finding steady, reliable wifi. Your most constant and heaviest expenses will be food and lodging, and it works a little differently everywhere you go. Perhaps the most difficult aspect of digital nomadic life is maintaining your work leisure balance. Traveling in and of itself can be exhausting and of course you'll want to explore and enjoy your new environments. Finding the ideal balance between work and play is the most quintessential element in in making the lifestyle work and be enjoyable.
Being a digital nomad is not of everyone, but if you find yourself intrigued it can provide a very rewarding alternate lifestyle. Some people prefer the security that a stable 9-5 brick and mortar career offer, but as the world changes and paradigms shift, new opportunities are opening up. It's on you to do your due diligence and decide whether life on the road is for you or not.
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.