Going Location Independent? Depends on your dependents.

Posted on January 26, 2010 by The Engineer

Not everyone is cut out for living a location independent lifestyle. Most people are used to going to the office for work and leaving the office for home. But for a few others who want to get out of this situation, there’s another kind of lifestyle to live– a location independent lifestyle.

The idea of being location independent appeals to those who desire a significant level of freedom and flexibility, that is, living and working anywhere. The catch is, working anywhere.  Figuring that out is a whole different story.  But if you can, you may have just fished your wish.

So how do you go about living a location independent lifestyle? It definitely starts with you. Are you ready to sail away from the safe harbor?  Are you ready to rely on nobody except the one in the mirror for an income?  Think you can do it?

Here are a few questions to consider before you start.

First, check your current status –

• Are you happy with the circumstances you are in?
• Is it about the eight-hour job you’re forced to have?
• Or is it about wanting to take a vacation or “mini-retirement”?

Not being happy with our present situation is something that you cannot put off by going to the bar and partying all night. You’re going to have to work for your own happiness.

Second, are there other individuals dependent on you?

Having a child is not a hindrance to living independently of location. You’ll see when you travel to other countries that many people travel with small children and toddlers.

But then again, having a sick child puts a definite damper on things. If you’re married, remember, things are going to cost twice as much.  Plus, it’s going to take two “OKs” before making any type of change or move.

Third, how are your finances?

If you don’t have enough money, you’re not going to get very far.  If your savings are not enough to support you, don’t risk facing starvation. Even more – if you’re going to live off savings, you also aren’t going to get very far… unless of course you’ve got millions in the bank.

One key element that people need to remember – Many ‘indie-locale’ nomads are making a minimal living online, but then living even more minimally (is that a word?) in a country where their dollar or euro stretches.

People earning in dollars and who can work away from the office have this obvious advantage.

Imagine spending the dollars or euros you’re earning in a location with a relatively lower standard of living. Although, despite how much your currency can converts, financial planning is extremely essential.  But it will be a bit easier in, say, Thailand, you get 33 baht for your dollar.  You can find lunch for 25 baht.   You can find rent for 3,500 baht.  See what I mean?

These are just a few the issues that you need to consider before embracing a location independent lifestyle. Going into each of them requires prudence and good judgment. Once you have decided, focus on your goal and don’t let anyone discourage you.  It’s not for everyone, but for those who it is for, it’s a dream come true.