In this article, we discuss the future of digital nomads, the types of digital nomads, and how the Nomad Capitalist lifestyle differs from regular digital nomadism.
The digital nomad lifestyle has gained exponential popularity following the pandemic. However, even now, most people think that being a digital nomad is all about the backpack lifestyle – it isn’t.
It can be as luxurious and as comfortable as you want it to be.
If you are a seven or eight-figure investor or entrepreneur and want to adopt the location-independent lifestyle while generating more wealth and legally reducing your taxes, we can help you do so. All you need to do is reach out to us, and we’ll handle the rest.
The Premium Digital Nomad
Adopting a nomadic lifestyle does not mean that you have to strap on a backpack and hike your way through Southeast Asia or move to Vietnam because that’s where all the bloggers are going.
At Nomad Capitalist, nomadism simply means going where you’re treated best.
Fortunately, the digital nomad community is growing, and with it, the definition of what it means to be a nomad is changing and becoming more inclusive. A new kind of digital nomad has come up – the “premium” digital nomad. These are the affluent location-independent individuals who don’t travel to save money. Rather, they do it to generate more money, reduce their taxes, and increase their opportunities.
If you look at business now, you have an entire generation of people who cannot remember a time when the Internet didn’t exist. These successful entrepreneurs understand the powerful opportunities in the world to connect them from here to there, no matter where “here” is.
A Nomad’s Four-Minute Mile
Until Roger Bannister ran a mile in under four minutes in 1954, science had decided it wasn’t physically possible. Four minutes was the barrier to human potential. Now, that four-minute mile is standard.
What I see as the four-minute mile of the nomad lifestyle movement – the future of digital nomads – is people going out and setting up bases in London, Dubai, and Singapore, with a winter villa in Saint Lucia. Someone is going to come out and decide that they’re only going to live in the most expensive places. A six, seven, eight-figure entrepreneur who wants the best of everything and will find a way to have it.
There are many successful people who want the life of a digital nomad and to go where they are treated best but who aren’t willing to compromise on their creature comforts. The future of digital nomads will be these people, pushing the barriers and discovering a way to live the nomadic life in luxury rather than on a shoestring.
It will be the twenty-five-year-old who doesn’t remember a life without the Internet and who believes that location is meaningless. The one who is making $100,000 a month but doesn’t want to give up the lifestyle of Beverly Hills. The future of digital nomads will be defined by those who want to go where they’re treated best in the way of luxuries.
And there is a possibility to create a tax-friendly way to live your life in these high-level places. That is the future.
A Tale of Two Nomads
At the moment, we see two different types of people to whom this future applies. One is already out there living the nomadic lifestyle and thinks that there’s an expiration date to it. These temporary nomads think they’ll do this for five years, but that the whole Bangkok, living in the jungle, Instagramming jackfruit for breakfast lifestyle, isn’t going to last forever. These people will eventually decide to “grow up,” go back to Australia, and pay their 45%.
Then, there’s the other camp sitting in Australia, the US, or the UK. They’re paying the 45% and have decided that, even though they may not want to be there, they don’t really want to be in Medellin or San Miguel de Allende. They want to go somewhere exciting, but they’re sitting on the sidelines, not doing it because they don’t know how to live where they want without sacrificing the comfort they already have.
Both of these individuals will form part of a new nomad community.
In any movement, there comes a point where it reaches a critical mass, and the audience begins to fragment. The vague values that held that mass together are no longer enough to keep everyone on the same path.
We are witnessing the birth of a new kind of nomad, a rebirth of the wealthy perpetual traveler of decades past – who would go all around the world.
Except now, the modern perpetual traveler will have bases.
They’ll get the residence permit in Dubai with the real-estate purchase option. They’ll set up in Singapore with permanent residence by investing in stocks there. And they’ll set up a company in the UK as part of their global infrastructure and get their UK residence permit as an entrepreneur.
Then, they’ll split their time in a way that they can keep more of their own money. They won’t be paying the ridiculous tax rate they paid at home, and they’ll get the best of all worlds.
As more people set up shop in this way, it will trigger a whole new movement of people populated by those who never wanted to do the Southeast Asia routine in the first place, as well as those who did but are over it and – instead of going back to where they came from – are ready to graduate to the new wealthy nomad lifestyle that is a bit more stable and comes with a whole slew of luxuries.
Both camps will run the four-minute mile.
There’s nothing wrong with the Southeast Asia routine. That’s a fine routine. But, as more and more people are making big money online through remote work, consulting, and online businesses of all types, those six, seven, and eight-figure earners will create a shift of high-level nomadism that we think will be very interesting to watch.
If you see yourself in any of the categories we mentioned so far, you’re on the right track. Get in touch with us today to plan your Nomad capitalist journey and go where you’re treated best.