How Much Money Do You Need for a Location-Independent Lifestyle?
September 6, 2013 | Money, Nomad Life
Money is the biggest concern for a lot of people I know who are working to create more freedom in their lives. Making enough, saving enough, creating enough sustainable income… there’s a lot to consider.
Many people who make a good, steady income in their current life worry how they’ll possibly replace all that income while working for themselves or working abroad, or how they’ll build up enough savings to cover all their expenses.
Here’s the good news: Many of those same people probably don’t have to replace all of that income! (And you might be one of them!)
My own situation is a good example: it took quite a while before I made more money in my Nomadtopia than I ever did working for someone else, but I still earned enough (and kept expenses low enough) to sustain my ideal lifestyle of freedom, travel, and living abroad for many years.
It’s time to find out where things really stand, so you can stop using money as an excuse for not taking action, and instead get clear on exactly what action you need to take to make your money situation fit your ideal lifestyle.
These five questions can help you figure out how much money you need for your Nomadtopia:
- What current spending will no longer be necessary once you’re living your Nomadtopia?
- What new/different expenses will you have?
- What is the cost of living in the place(s) you want to go?
- How much money are you earning now?
- How much will you be earning while living your Nomadtopia?
I’ve created a worksheet that can help you crunch these numbers and see whether you’re on track for funding your Nomadtopia.
Click here to download the Nomadtopia Cash Flow worksheet. (No opt-in required!)
If you know anyone else who might find this helpful, please pass it along using the share buttons on this page. Thanks!
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