In 2014, I had a well-paying job in marketing, but I felt burned out. I was tired of waking up to the same routine, commuting and spending most of my days within the four walls of an office only to have to repeat the same process all over again the next day.
This fear I was feeling was made even more apparent because I had recently returned from a month-long trip to Europe that opened my eyes to the world I had missed.
As I struggled to get back into my office life, I kept asking myself, what if there were another way of life that was more fulfilling? I began to imagine life without financial limitations. I realized that I really wanted the freedom to pursue my dreams and see the world without breaking the bank.
With that clear vision in mind, I started working backwards and thinking about the steps I needed to take to get there, starting with creating more revenue streams to conveniently fund my travels. And in 2016, after about a year of planning, I left my 9-to-5.
Over the next two years I traveled the world as a digital nomad and built multiple passive income streams.
When I returned from my travels in 2018 I decided to take another 9-to-5 for four years. But after a recent layoff, now at 31, I’m officially “retired” from a day job. I now dedicate my time to my six current revenue streams that generate six figures annually, including my website Digital Nomad Quest and my YouTube channel.
This is how I set myself up for success.
I spent a year and a half preparing my finances
I’ve always been a big saver, but once I settled my travel plan, I focused on increasing my income and reducing my expenses.
I spent the whole of 2015 studying how to create passive income. I’ve taken on two additional part-time remote jobs in addition to my full-time job, which has allowed me to build my nest egg faster.
And at the same time, I also started blogging and selling digital products like resume templates and printable planners on Etsy to prove to myself that I could create passive cash flow.
By May 2016 I had saved enough on the side to get through a year abroad, on the other side I earned enough gigs to ease my transition into full-time passive income businesses. So I quit my job and headed abroad.
I ended up traveling alone for two years, living in new places month after month while exploring and meeting people from all over the world. I’ve traveled across Europe and Asia to places like Greece, Romania, Portugal, Korea, Hong Kong and Thailand.
By the end of my travels I had built up passive income streams through various means that supported me on my journey. This included my Etsy shop, becoming a Fulfillment by Amazon seller, creating custom clothing to sell on Merch by Amazon, affiliate marketing, advertising revenue from my blog (where I wrote about my experiences), and rental income.
Also thanks to diversified investments in the stock market, some cryptocurrencies and real estate I was able to increase my net worth while traveling. This journey ultimately showed me how much time and freedom passive income can buy.
My view of work and what I valued changed
As I’ve traveled the world, I’ve noticed how many different approaches there are to work. I understood that because I was raised in the United States, so many of the opportunities I was able to pursue were more accessible.
In some cities, average salaries ranged from $600 to $1,000 per month. It made me realize my privilege, but at the same time, many of the people who might have earned less were more present and in the moment than I ever was.
Many of the people I met on my travels prioritized their loved ones and the things that brought them joy. Meanwhile, so many of the people I knew back home were more concerned with chasing a very fixed idea of corporate success, a pursuit that didn’t make them any happier.
I realized that there is no right answer to how you should live your life. Everyone has different values and everyone has a different definition of success.
I decided to come home and build the life I wanted
When I started building my passive income streams, I thought I “did it”. My income covered my minimum daily expenses, including airfare, accommodation, food and entertainment, meaning I could potentially continue this lifestyle abroad for the rest of my life if I wanted to.
But I didn’t feel fulfilled just from the cash flow. I wasn’t happy chasing numbers, just thinking about how to reach the next monthly passive income milestone.
I was in Chiang Mai at the time and knew many digital nomads who were very happy to continue on this path. That can be a great life for others, but I realized I didn’t want it. I was still young and wanted to live my life to the fullest. I wanted to learn, create and do something useful for the world.
So in the spring of 2018, I came home to the Bay Area to be with my loved ones, build skills, and create something impactful. I started teaching people how to improve their finances, build passive income side hustles, and invest through my YouTube channel, Instagram, and blog.
And after my two-year journey of seeing the world, speaking to people from all walks of life, and building a passive income, I finally realized what financial freedom means to me.
I’ve learned that financial freedom alone is only part of the ultimate goal
For me, financial freedom initially meant being able to travel the world. But at a certain point my priorities shifted and I didn’t feel fulfilled by hitting any number. I had to restate what my driving purpose was.
For me, financial freedom now means being able to pursue my professional dreams instead of waiting for the right time. It’s a freedom that allows me to take care of my health and well-being instead of stressing about making my next rent payment.
It’s a freedom that allows me to spend time with my loved ones instead of working long hours in an office. Ultimately, financial freedom allows me to live a life that stays true to myself.
Sharon Tseung is the founder of Digital Nomad Quest. You can learn more about them through them Instagram, youtube channel or their website, www.digitalnomadquest.com.
Sharon is an investor and creator who teaches people how to build passive income, become financially free and live their best life through her YouTube channel, Instagram, TikTok and blog. She enjoys talking about investments and side hustles. In the past she graduated from UC Berkeley and worked in marketing at Google and other companies for 10 years. She quit her job and spent two years traveling the world as a digital nomad while simultaneously building multiple streams of income online and through real estate.
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