Traveling the world undoubtedly costs a lot of money. While some travelers are able to really reduce their expenses by being frugal, you will still need a good monthly income even in the best-case scenario.
As a family, we like to focus more on having free time rather than a lot of money. There is little fun in being in a tropical paradise like Thailand while having to work 10 hour days to have enough money to live on.
Much of the income that we use for our living expenses and travel thus comes from online passive investments.
One of our favorite ways of investing is through P2P lending platforms and real estate crowdfunding. Our favorite platform is Mintos, which is a European site that allows investors to loan money at great returns of around 12%. At such a nice return rate you can make your own calculations on how much you need to invest in order to be able to finance your travel needs.
For example, with a €100,000 investment, you can finance a great life in a cheaper place like Thailand. A few years ago I wrote about the cost of living in Chiang Mai, and while it has become slightly more expensive since then, you have much more choice when it comes to Western-style accommodation.
I recommend considering some of these passive investments. Even if you don’t have enough capital to live off passive investments, they can give you a cushion that you would then supplement with other regular work such as freelance blogging, remote work for other companies etc.
Have you already started your passive investment journey? Let me know what your experiences are.