Financing the trip

There are basically two possible requirements for a trip around the world finance: Either there is enough capital available, or enough savings may be set aside, or you may count on a secure income when you are on the move. 

Income on the go
Obtain sufficient funds along the way through odd jobs is rather the exception, because short-term jobs are often those for travelers are accessible, illegal and almost always badly paid. A few working weeks as a harvest hand on a farm is definitely a good experience, but you don’t get far with the earnings afterwards come. In addition, there are only a few regions with such jobs. Carrying out a task for board and lodging, too a charitable one, can be very satisfying and enriching. In addition it helps to clear your head from the many experiences and to overcome a pent-up reluctance to travel. But beware, not all charity jobs are free. Organizations often not only expect free work, but also a share of the costs of over $1000 per month is not uncommon.

Digital nomad
Another possibility can be working as a “digital nomad”. However, if the relevant relationships have not been established in advance and such jobs have not been done, the chances of being able to make a living from such jobs on the journey are vanishingly small. Even if you think about making money with photos or press articles do, the prospects are without previous, successful relationships hardly lucrative enough to “extend” the trip.
In any case, the availability of a stable and fast internet will be a challenge for this business. So it may be necessary being tied to one place for a long time just to be able to work at all. However, there is no guarantee that this place will still be beautiful and worth living in. One should rely on the positive experiences of a few “influencers” who have become rich do not leave in the assessment.

Real estate
Renting out your own property can be a very good source of income. This is primarily an option for “medieval” Travelers who already own a house and this during the Don’t want to use the trip, but want to move back in yourself when you return. It is of course ideal if the property is even furnished can be rented out, then not even the furniture has to be stored. But renting can always involve risks be fraught, all the more so if the tenant is not previously known is. Are no helpful friends or relatives at hand to help to take care of the tenants and the general administration, becomes the fee-based service of real estate management reduce income. When you’re ready to finally burn the bridges behind you, that’s it another opportunity to sell the property and invest the money profitably. However, it should be borne in mind that selling a house can sometimes be a lengthy affair. Even When investing, the possible risks must be taken into account. Who manages the assets, the investments? Is the facility safe enough? Can the profit generate a substantial portion of income or must be consumed from the fortune? In this case, it is important to work with a reputable asset manager assist in the creation of a budget and a financial plan can.

A budget tells us what we can’t afford, but it doesn’t keep us from buying it.
William Feather

Leave a comment