We live in a world where the gig economy is replacing in traditional workplace setting. Today, you will find many people who are working from home to make a earning. Among them, there are many people who travel the world and also make money. We know them ...
We live in a world where the gig economy is replacing in traditional workplace setting. Today, you will find many people who are working from home to make a earning. Among them, there are many people who travel the world and also make money. We know them as “digital nomad”.
Being a digital nomad has its share of pros and cons. So if you are seriously thinking about making a career as a digital nomad, here are some of the advantages and disadvantages of this profession you must know:
Pros
Traveling is a big part of the lives of digital nomad and this is what makes it an interesting job for people. Digital nomads travel around the world with their laptop and stay connected to their employers. So they are able to serve their clients and take pleasure in travel as well.
Being a digital nomad gives you an edge over other workforce since you don’t have to become part of corporate life where you can’t live life on your own terms. Being a digital nomad means you can do things at your own will and pace your life accordingly. This gives more control to your life and you are able to live your life on your own choices, especially if you are a student who has to take on pressure of projects and have to rely on
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When you are a digital nomad, you travel the world which adds more colors to your personality. You are able to meet new people and learn about new attitudes and cultures. This brings more diversity in your personality and you are able to see the different shades of life.
When you are working as a digital nomad, you are able to get inspired from the different things around you. No longer are you a person who is restricted by the time parameters and limitations of your life. With freedom comes creativity and this is what brings more variety in your work.
Cons
Working as a digital nomad deprives you of a sense of job security that you get from a 9-5 career. Since you are not a permanent employee of an organization, you tend to hop between different companies with no long-term employment.
When you are working as a digital nomad, you lack a direction in your career. Since you are not working as a regular employee, you fail to make a proper career planning. Therefore, you are not able to set a career path and get distracted in your career.
There Is No Regular Income
When you are a digital nomad, you don’t earn a regular income. The majority of your income is earned from the work you get from the different freelance marketplaces. So you are dependent on the volume of work available on these marketplaces as well as the rates an employer agrees to give you.
No Financial Planning for Old Age
Being a digital nomad doesn’t give you any real benefits once you reach the 60s. Unlike a regular employment where you offered the provident fund, gratuity, and pension, a career in digital nomad doesn’t secure your career in the long run. So unless you make some good investments, you will not be able to save money for your old age.
While being a digital nomad offer some perks in terms of personal living, it doesn’t offer any real financial perks, such as quarterly bonuses, loan, and financing options. Therefore, you have to make your own efforts to fulfill additional needs and desires of your life.
These are some of the pros and cons of being a digital nomad. You can take up this career taking into consideration the aforementioned good and bad aspects of this type of career.
