Beginnings of a Digital Nomad: The Remote Year - Day 216
“Trying to cut costs has a clear floor. Income can go to infinity.”--Wall Street Playboys
Efficiency
Time is money, and therefore we must look for ways to maximize our EFFICIENCY in all aspects of life.
Working out improves health efficiency, tech improves time efficiency, and happiness improves life efficiency.
Efforts should be shifted from cutting costs to creating income. While there exists a limit as to how much you can save per day/week/month/year, there’s no ceiling to the amount of revenue you can generate.
How can I create revenue without a job? Making money is easy, for where there’s a will there’s a way. Steemit is one, while crypto-trading is another. Monetize off your skills on Fiverr. Rent out your spare bedrooms on Airbnb. Drive on Uber or walk dogs on Wag.
Passive Income
Generate, monetize, scale. INVEST! “You’re never going to get rich renting out your time.”--Naval Ravikant
Passive income is the most profitable income.
You never want to put your livelihood in someone else’s hands (i.e., boss, employer, etc.). Doing so establishes an employer-based prison, with you as its wage slave.
Self-generating revenue allows you to 1) get paid what you’re worth, 2) create implied opportunity costs, and 3) determine your own future/fate.
How Do I Get Started?
Putting theory into action, let’s take crypto-trading for example. @wolfofpoloniex released an extremely helpful article months ago here on Steemit titled “Bare Basics of Trading Cryptocurrency.”
By first buying BTC and depositing it into an exchange (i.e., Bittrex, Binance, etc.), we can then use our BTC to trade against cryptocurrencies & implement Wolf’s recommended technical analysis techniques into our trades to find the most profitable positions.
Ex: if STEEM is forming a descending wedge & is nearing its breakout point + the support is stronger than the resistance + the RSI is showing a bullish divergence = BUY; predicting a bullish breakout in the near future.
With the endless amount of resources made available for us on the internet, there’s no excuse why you shouldn’t be able to arm yourself with a specific skill set that can help you make money. Gone are the days of institutional education (where we pay $40,000/year for theoretical knowledge, a piece of paper, and a six-figure debt), for we’re now in the golden “information age”...the age of procuring a real, APPLICABLE education!
Check out past "Beginnings of a Digital Nomad: The Remote Year" posts here:
Day 150
Day 134
Day 115
"The Haze"
Day 15
Day 12
Day 8
Day 1
It feels great to be part of the pioneer group we find ourselves in. I feel like those who refuse to adapt to this brave new world is going to be regretting that they didn't switch earlier. Pretty soon, "income" will be a thing of the past, and nobody would need to work for a living. But, until that day comes, these alternatives you mentioned are a great way to pad your saving/spending money.
Nice to have you back posting regularly again, kapatid!
Hoy pare, glad to be back! You seem to be doing well yourself, so proud of you man, really :) With the price of STEEM going up, everyone seems to be well (at least the super early adopters like us). And congrats on breaking 1k followers!! I apologize for my absence & delay in response, but we're back in business & firing harder than ever! Hope you're doing great pare :)
I'm not doing as well as I hoped, but hey, I made a vow to just keep chipping away at it and not make a big fuss about my progress :D Great to hear that you guys are going to be firing harder than ever!
Angelo! Your are the doing great! very happy about that, thanks for sharing this inspiring post, I do agree its all about mindset and passion. Good to see you post again, sharing your tips and tricks to everybody.
Thanks man I'm happy to be back! Pretty admirable of your consistency as well throughout all this :)
Great post Angelo. My goodness, I look awful! lol I recall being a little sick at the time, short on sleep and the next day I was traveling to the US. It's all good. We had a great time together. Fantastic post my friend. What great info you have shared! Keep up the great work! -Dan
No way man, we're good! Was really happy to have met you in person :) Thanks for taking the time out of your schedule (and the initiative) to set up that meetup. Still think back on it to this day with the fondest of memories.
The pleasure was all mine. Totally missed this message! But I see it know. We certainly had a good time hanging out! That is for sure :)
Awesome post man! Very inspiring. I've currently been working for myself for the last 2 years traveling on and off making a passive income! Have you looked into Bitcoin Mining? Say Hashflare? Have an awesome week!
I don't know much about it myself aside from the basics, but my business partner/best friend Rene @world5list knows a TON about it! If you leave your mining-related questions here I'll be happy to direct them to him :)
real cool stuff dude - totally align with what your about.
Really great quote.
Speak later - peace
Thanks for your support brotha & glad to come across a like-minded individual such as yourself...followed! Looking forward to checking out more of your content :)