Since the pandemic shook the world, we all have changed the way we live, work, and communicate. All the interaction between each other shifted 100% online, such tech giants like Google, Microsoft, Apple, and Twitter went fully remote and most of their employees will work from home (or beach/park/cafes/jungle) till 2021.
So I believe, that the number of digital nomads will grow rapidly during the next few years, and I couldn’t be happier. This progress will allow people to see the world, try new things, find new perspectives, and grow within.
Since the beginning of the lockdown, some nomads started to shout “OMG THIS IS IT – it’s time to fucking grab the balls of the opportunities, and hustle like never before! There will be no time like this in history, and we should use the crisis to grow!” Others decided to slow down and finally breathe because they have already lived too fast, hustled like motherfuckers, and got exhausted.
I was slowly sipping wine while watching nomads burn out in two months, others reaching new highs, and chose balance for myself (practically from slowing down to create a work/life balance). Badass Times was created fast but in a very peaceful and friendly environment. After all, it truly is about the right opportunities at the right time.
A crisis is always a good moment for some pivots and investments. For me personally, investment in myself is something significant – never stop learning and growing. But that progression is relatable for many professionals nowadays. There is one question that didn’t leave my head for a while: what is smart to invest in as a digital nomad now, in these interesting times? I decided to ask some nomads I know. Check out the answers I got.
Money has to be invested in something that brings you more money. It is a very interesting game. I run my UI/UX design studio for a couple of years by now. It required money at the beginning and I mostly reinvested my income into it. Now the studio brings me more profit therefore I invest money into my other pet project. It is SaaS that is now in a testing stage. I don’t travel much ‘cause I traveled a lot, and know that doing business is more exciting than visiting exotic countries. I don’t spend money on things like cars or properties, because I believe that it’s not worth the investment — Pavlo Salyha, Senior UX Architect and the owner of YellowArrow.Design
Most digital nomads are talking stocks, cryptocurrency, real estate, business, and mutual funds.
A mutual fund is a type of investment vehicle where individual investors put their funds into a pool of money made up of securities such as stocks, bonds, and other related assets.
While this is a good option for young investors, it can be costly to pay for management and sales fees. That’s why people turn towards ETFs. Exchange Traded Funds track major index funds and they can be traded like a common stock. ETFs account for lower fees and investors don’t need to track the market movements on a daily basis. The market is highly volatile and day traders are likely to hit a wall. As such, you should always think of investing as a long-term commitment. Especially for digital nomads, passive investing that tracks major index funds is a healthy way to build their nest eggs for the future — How to Invest as a Digital Nomad, Medium
Some of the badass digital professionals invest in space, and find it a great long-term opportunity.
Being a digital nomad, working in tech in general, means having your eye on the horizon, and there’s no greater horizon than space. Growing up as a Trekie, the idea of space travel is something I hope to experience in my lifetime. Naturally, Virgin Galactic stock is something I hold a lot of and will do so for the long term. Their vision of space tourism is inspiring, and the other markets such as hypersonic travel are interesting as well. I’m a big SpaceX fan too of course and will invest in that the very day that I can — Dave Roberts, Founder of ReVerb Digital Marketing Agency
It is important to also remember about the retirement with a roof above your head, financial stability, and cruises around the world with your wrinkled significant other. Digital nomads explore the real estate markets around the world while working remotely or building their online business.
Remote work is great but it’s not the ultimate freedom: FIRE (Financial Independence Retire Early) however gets pretty close. That’s why it is important for nomads to find the balance between traveling and saving money. I started investing in ETF and P2P. Markets being low due to the pandemic crisis is a good moment for buying long term stocks. Currently, I’m also searching for a property to acquire in an affordable country that has the potential for future growth (Bulgaria, Albania, Georgia, etc). There are nice apartments in Europe, on the coast, that you can buy for as low as €20-30k — Anna Maria Kochanska, Key Account Manager at Viseven
However, it is not only about money. There are conscious vagabonds that are aware of the first world’s problems: poverty, global warming, pollution, oceans full of plastic, etcetera. More and more digital nomads work on sustainable products and help local projects while traveling.
With the impending threat of global warming governments and financial entities have popular support to invest in renewable energy resources. I think investing in Solar/Wind generation and storage providers could pay off in the long run. However, in my opinion, currently, most stocks are overpriced and one would expect a market crash either shortly before or right after the US presidential elections — Alexey O., Engineering Consultant
Investors are sure that it’s time to get serious with Blockchain and real estate but invest wisely.
During these uncertain times, it’s important to invest wisely. We’re in a period of great dying. Many traditional industries will disappear (e.g., fossil fuel & agrochemical giants). The greatest opportunities lie in identifying disruptive innovators. Blockchain or Decentralized Ledger Technologies (DLT) are reshaping the world. The emerging Internet of Value is far greater than the Internet of Information. It makes sense to have a broadly diversified portfolio of cryptocurrencies, with Ethereum and the DeFi ecosystem looking especially strong. I am a big fan of impact-oriented projects, such as Regen Network, SEEDS, and Ekofolio. Investing in tokenized real assets, such as real estate, will be an important form of inflation protection — Alan Laubsch, Impact Investor with Planet Positive Ventures
In the end, I want to add, that doing the right thing always wins. And what is right for you is not necessarily right for others. So, think twice, explore the markets, choose what you are into, read this article again, and go for it. The money will not make itself. Well, unless you’ve got a printing machine.