Digital Nomads — Considering a Change to Location Independence?

Ready to put away your vagabond shoes and give up your digital nomad lifestyle, chill bro. Strategies to get your house in order before heading home

Xe Consumer

November 28, 20184 min read

Living the digital nomad lifestyle is a great opportunity for tech-savvy millennials and creative iGens to accomplish many goals:

  • Seeing the world

  • Experiencing other cultures

  • Making new friends

  • Building a strong professional portfolio.

The digital era created many new opportunities for freelance graphic designers, journalists and marketers to live a migratory lifestyle. Freedom from a 40–50-hour work week appeals to those entering the workforce. The same is also valid for seasoned professionals who built a successful career but feel like a change of pace and scenery.

Is This Your Life?

Do you identify as a digital nomad? Do you know what it’s like to bounce between Airbnb’s, co-working communities and espresso bars? Have you surfed as many couches as you have sweet waves?

One month, you’re developing mobile apps by day, and experiencing Tokyo’s bar scene by night. A few months later, you’re working on a UX dev team in Berlin.

In both scenarios, you’re earning good money from high-growth startups, and exchanging funds to local currency on an as-needed basis. Should you have a home base and nobody to collect your correspondence, mail carriers often offer mail forwarding services or electronic billing services.

Here are ideas for when the migratory lifestyle gets exhausting, when you’ve “found yourself,” or when you need to let grass grow under your feet.

These Boots Were Made for Walkin’ (but now the soles are falling off)

Have you moved constantly from place to place, equipped with little more than a passport, smartphone, laptop and a few changes of clothes? Many digital nomads decide it’s time to establish a home base or put down roots to stay in one place for an extended period. They may re-assume a 9-to-5 lifestyle, or go location independent. Continue to work from abroad, but maintain an HQ of some kind.

Do you shudder at the thought of ending your digital nomad lifestyle? Well then, may you have many prosperous nomadic years ahead. Digital nomad communities and retreats are great to connect with fellow nomads and build relationships.

Yet, if you’ve read this far, it’s possible you’re looking for a change. You might want to start a family or nurture a relationship. You could have found an ideal location to buy or rent a home. Whatever your motivation, swapping digital nomad “status” for a location independent lifestyle allows you to be an accomplished online creative professional. You aren’t selling out, or giving up. You’re just evolving.

You Wouldn’t Switch from Fifth Gear to Second..Would You?

After an enduring marathon, running enthusiasts don’t stop at the finish line and sit in a lawn chair.

They walk, to bring their heart rate down, and prevent muscle cramps. Apply the same thinking to shifting gears on your workstyle. Try being a “Digital Slowmad.” Experiment with spending longer stretches of time in one place. If wanderlust strikes, or you aren’t inspired by your surroundings, the open road (or sky) will wait.

Health insurance providers offer expat health plans and long-term travel insurance plans tailored for digital nomads.

A home base to store your worldly belongings (other than a storage locker, or your parents’ basement) can grow on you. Short-term leases on a house or apartment can be arranged. Send your rent deposit to your future landlord through secure electronic money transfer, and move closer to family and friends. Take on remote work and sustain multiple revenue streams through the cloud.

When your vision quest is complete, or you’ve had your fill of thrilling experiences and tearful good-byes to friends, you can go home again. Until then, if you need to transfer funds in foreign countries to suppliers, friends, or family, open a free XE Money Transfer account, or contact the XE office nearest you.

The information, materials, accompanying literature and documentation available on our internet site is for information purposes only and is not intended as a solicitation for funds or a recommendation to trade. XE, its officers, employees and representatives accept no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

While we take reasonable care to keep the information on the website accurate and up to date, there may be occasions when this is not possible. Case Studies and articles are not intended to predict future moves in exchange rates or constitute advice.

XE makes no representations, warranties, or assurances as to the accuracy or completeness of any information derived from third party sources. If you are in any doubt as to the suitability of any foreign exchange product that you are intending to purchase from XE, we recommend that you seek independent financial advice first.

For more information about XE, please click here: Regulatory Information