How much are the usual earnings of a digital nomad? (aka how much are you making?)
I feel most earn only $1000 to $2000 and spend it ALL on travelling. I don’t think thats mentally and financially sustainable.
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My day job is a fully remote middle management finance role at an American insurance co and my total comp is over $250K (10-15 YoE). I also own a portfolio of websites in the travel/lifestyle niche with EBITDA approaching 5 figures/month. Def not ready to quit my day job but hopefully there soon!
I’m not sure what the usual DN makes but many who I’ve talked to about finances have multiple sources of income or some level of self-employment income, so I’ve always felt like DNs do pretty well on average.
Oh and I’m also paying a stupid amount of taxes to the US gov’t even though I’m hardly in the states at all. However, DN is a must for me… I’m in my mid-30s and want to settle down, but I don’t like American women so I’m traveling around Asia trying to find a wife lol
On the tax burden, are you taking FEIE?
No, I have a US address (in a zero income tax state) that is my address for tax purposes. None of my income is foreign so it doesn’t make sense for me to take FEIE. I would get audited so hard lol
I make $11,000/mo, spend $1350 a month on rent, $200 a month on flights and about $800 a month on food. Since I own very little, most of the rest of my income goes towards my business or self development. Pretty fucking sustainable.
I make 12k per month as a software developer.
And I am staying in a 1% tax country in EE.
I don’t travel much, or even do much at all other than work, gym and some hobbies.
No SO or dependents. At this rate I could save/invest over 100k per year.
Nice, any advice to us juniors devs, wanting to become DN? Any regrets or things you wish you could’ve done different? Any shortcuts you wish you could’ve taken to become as successful as you are now?
Interesting, I’ve just educated myself about this here https://forbes.ge/blogs/1-personal-income-tax-applicable-in-georgia-what-to-know-and-consider
The only caveat I see is that is though to separate the line between IT software development and consultation. Have authorities ever challenged or asked you? Have you taken a consultation with a tax lawer in Georgia to check your contracts? (I guess you have one of those generic contractor contracts business use in USA).
Snap
"How much do you think the average digital nomad makes?
“Well I make lots of money!”
You stay in Romania?
Romania has half of the income taxed. So no, of course it’s not Romania.
How are you a digital nomad if you don’t travel around?
You just swapped country A for country B.
what is EE?
Asking all the other devs in this thread the same question, but I’m guessing you are working remotely abroad without telling your employer right? on travel visas? I’m fully remote but all the roles I ever see being advertised restrict me to stay in my country.
sking all the other devs in this thread the same question, but I’m guessing you are working remotely abroad without telling your employer right? on travel visas? I’m fully remote but all the roles I ever see being advertised restrict me to stay in my country.
Don’t mind how do you find a remote job i am working as a digital marketer for a company and at the end of the month they only pay 200$ which is very low compare to other countries im living in Asia
Don’t you still have to pay US income tax? Or is your employer in Europe?
I am not an American citizen; can’t you tell my English is not spot on? ;)
I am not officially “employed” to anyone. I do work for American companies, but I just signed a W8-BEN, so I am responsible for dealing with my own taxes … which I do, paying 1% every month very diligently.
Your English is spot on 👏
Considering the facts that you’ve shared about yourself…Are you from Russia, by any chance? Just being curious.
That’s awesome haha
Are you freelance? What country are you in? I’m paying around 25% of my income into income taxes and pension plans.
I make $2k a month, spend $200 on rent $100 on food and like $500 on travel and leisure every month ( Euro and SEA) the rest goes to savings, been like this for a while. How much do you have in savings boii?
Around $1500-2000 monthly. I work in sales plus teach part time. Surprised many people here aren’t commenting closer to my number, everyone is saying 4k or above. There are some digital nomads out living on $700 a month, probably not comfy but definitely plenty of us in the $1000-3000 range.
It really depends where you live and what your main company is, as well as the currency of your salary.
I make 7000 euros a month completely remote
I disagree. I make an extremely good living without coding. Want to find out more?
I earn about $4,000 a month, save $1,000 or so and live a comfortable life as a traveling hobo.
Many people in very different places.
You will see a lot more about making a tight budget go further for many of the same reasons as non DN work: more people have lower paying jobs, and people with less money need more help making budgets work.
Those of us making $5k-$10k+ don’t have reasons to be asking how to make our budgets work.
I don’t think thats mentally and financially sustainable.
this is true whether traveling or not.
Averaged 10-15k usd after tax per month but needed to move back because it’s hard to justify that salary if it is difficult to go into the office when needed for my position. Even if it is considered “remote”
If you’ve ever met anyone that called themselves a “digital nomad”, you’ve also most likely paid their bar tab or been asked to loan them money. That should tell you all you need to know if you were wondering about the authenticity of the majority of the income statements on this thread or in this sub in general.
£28k a month at the moment mostly passive! X
Can you give me some ideas as to how that works? I am a travelling psychotherapist and my incime is quite low…so looking for other ways to make money…
I make about 20k/month and spend around 5k/month
As a daytrader, on average $1000 a day.
How did you learn? Do you hav some advices? What would you do if you had to start from zero?
First of all, daytrading is hard, very hard to learn. It takes a lot of time, dedication, failure and (possibly) quite some money to get the hang of it. It took me 4 years to become profitable (besides a fulltime job) and 3 more years to be as profitable as I’m now. I started my journey with an academy that doesn’t exist anymore. Lost of theory but the most important of all an everyday live trading room where the main trader always shared his screen. Seeing a professional trading live and explaining his thoughts is very important. Besides that, read books that explain the psychology of daytrading. Having your mind under control during trading is the most important thing of all. You will see that you will start to get to know a whole different part of yourself. Daytrading consists of 30% knowledge and 70% psychology. Search every concept/word that you encounter on youtube. Youtube will keep you busy for hundreds of of hours.
Another very difficult part is creating your own strategy. You can find lots of strategies online, but they probably don’t fit you. Everyone has it’s own trading style and you have to discover yours.
I suggest you join r/realdaytrading. They have a wiki you should read several times to start with. That will give you a very good start from which you can develop further.
Remember, to start this journey you should be ready to dedicate yourself a couple of years to this. The failure rate of people trying to be a daytrader is enormous.
If you succeed, the reward is enormous. The perseverance should be too.
Thanks very much for the these advices :)