Finance

Digital Nomads: How do you manage taxes?

There is a brewing possibility that I might come across a remote position. I wanted to take this opportunity and travel a few places around the globe. I am planning to start for a few months in my home country and then make the move. But I am not sure how the taxes and other financials work if I am moving around different countries every 2-3 months(or whatever time is ideal).

Millennials may need to double how much they save for retirement

Many financial advisers recommend that workers aim to save between 10 and 15 percent of their pay. But other experts say millennials should save much more, up to nearly a quarter of their income, to avoid running out of money in old age if stock market returns fall.

What was your best passive income in 2016?

Any side projects, Game, OSS, Hacks.

Expert Q&A: How To Deal With Taxes As A Global Remote Worker

Remote work is forcing us to question the way our classic government institutions function. Who do we owe our taxes to? How do all parties ensure that appropriate tax codes and laws are being followed when workers may be employed by different countries or work in more than one region throughout the year? How can remote workers–whether they are self-employed or full-time–make sure they fulfill their tax obligations when working abroad or for companies in other countries?

Boosting your savings rate by living abroad and working remotely

Most people don’t have the luxury of working from home, but if you can get a job or start a business that allows you to work remotely 100% of the time, the impact on your savings and FI date can be huge.

What are your passive income sources?

I do affiliate marketing. Just looking for few other options and would love to hear your experience/story of creating passive income sources!

To all of you making well into the 6 figure range, how'd you do it?

To all the FI’ers out there that are making 6 figure incomes and higher, how’d you do it?

  • Did you invest years in school?

  • What was your debt load when you started your career?

  • Did you see a massive pay hike, and when?

  • What do you make now, and will you make more in years coming?

  • Did you marry wealthy?

Tell us your story.

How to Retire at 40

Three early retirees tell their story of living on 4 percent or less.

The best ways to transfer money internationally for 2016

We took a look at some of the best online transfer services and got recommendations and insights from the experts.

Cost of living adjusted salaries are terrible for remote employees

The biggest contributor to the difference in cost of living between San Francisco and pretty much any other city is housing. By adjusting salaries based on cost of living you are essentially telling people that they should be punished for finding a cheaper place to live, and rewarded for spending more.

how much do you make at a remote job

Some companies seem to highly adjust for location, for example, Buffer is paying $93k for a developer in Hong Kong, $77k in Buenos Aires, and $144k in San Francisco, for the same job. This raises questions about determining ‘fair’ salary outside the major cities, where the cost of living is well known and understood, and sources such as Numbeo and similar sometimes miss essential issues. So, dear reader, what’s your job, where are you based, on what’s your salary?

How have you achieved financial independence?

I know this is a niche question, but have you reached a point where you have enough passive income to not to have to work for a living? If so how did you accomplish it?

What's your average cost of living (per month)?

What’s your average cost of living (per month)?

How the hell do you all make money!?

I’ve seen a myriad of get rich quick schemes and online money making scams. Obviously this is not how you are all making money. So how are you making money? How much money are you making? And what strategy creates the most amount of cashflow?

If you don’t have a residence, where do you pay taxes as a European citizen?

If you don’t have a residence, where do you pay taxes as a European citizen?

The Ultimate Tax and Money Guide for Digital Nomads

Here’s a primer on the tax and financial aspects of the digital nomad lifestyle. Note, this is mainly for US folks.

How do you manage you money?

I’m interested to hear how people manage their personal finances, and any advice on that score. Do you do it through your bank, do you have a personal broker, online services? I am especially interested in hearing from people outside the US, more so if they have assets in the US that they manage as well.

Best country to register a company for DN?

I’ve read some suggestions about Hong Kong here, due to no taxes, reputable banking system, but seem that it can be difficult to arrange and can take months to get a bank account even after going there. Where did you set up your company and bank account with paypal, credit cards and all? Looking for recommendations on companies that help with the setup also!

Finance for Everyone: Smart Tools for Decision-Making

Want to learn how to think clearly about important everyday decisions? Finance for Everyone will showcase the beauty and power of finance. This introductory finance course will be a gateway into the world of finance and will examine multiple applications to apply to your everyday life.

The Runway Calculator: How to Travel for 6 Months and Come Back Richer

Many people fantasize about traveling the world and working on their book, starting a business, or doing freelance work… but there’s no good way to figure out how financially feasible it is. Well, there wasn’t. Until I built one.

Why Don't People Manage Debt Better?

Psychology experiments show why even the financially savvy have a hard time following sensible strategies.

Stripe: Atlas

With Stripe Atlas, entrepreneurs can easily incorporate a U.S. company, set up a U.S. bank account, and start accepting payments with Stripe. Starting today, it’s available to developers and entrepreneurs globally. The promise of the internet is that location matters less. However, geographic barriers and associated complexity make it difficult to start a global business in many parts of the world. Developers around the world should have equal access to the tools and services that are available to those in Berlin and Boston.

Nomads, what is your yearly income? What do you spend on expenses?

I want to see how much nomads are comfortable making a year before I begin my journey!

Your Passive Income Suggestions?

Please share suggestions of whats worked for you and what hasn’t.

Thinking about money

Many marketers work overtime to confuse us about money. They take advantage of our misunderstanding of the time value of money, of our aversion to reading the fine print, of our childish need for instant gratification and most of all, our conflicted emotional connection to money. Confusing customers about money can be quite profitable if that’s the sort of work you’re willing to do. A few things to keep in mind.

How We Pay Remote Employees Around the World (and Where the Money Goes)

Similar to how we share our salaries openly, we’re now happy to share the financial setup of a 6 Buffer teammates around the world, including how they’re set up as remote workers, how much they pay in taxes and where that money goes.

How Should You Manage Your Money? And Keep It Short

Managing your money should be pretty straightforward, but that doesn’t make the task all that easy.

How do you manage your financial life as a digital nomad?

I’m interested as to how other nomads/perpetual travellers manage their financial lives on the road. How do you keep on top of your financial assets/situation whilst travelling and using multiple currencies? How frequently do you change your primary currency and how do you cope with that mentally (on the fly conversion etc)? Do you budget, or just roll with the punches?

Your Most Valuable Asset Is Yourself

Years ago, my colleagues and I conducted a fairly large-scale research project. We interviewed a bunch of high-income professionals who provided professional services. This group included doctors, dentists and lawyers, and like most of us, they earned money only when they were working. In essence, they traded their time for dollars.

Our finding was this: Homes and retirements accounts aside, the most valuable asset they owned was the person staring back at them in the mirror each morning. Chances are, the most valuable investment you own is the investment called you.

Passive Income - who's doing what and how much are you making?

How many of you have passive income? I guess in the truest sense of the definition, passive income is 100% passive, requiring no work once established. I’m curious to hear about such cases as well semi-passive cases in which only a few hours of updating or maintenance is required each month.

Digital nomad taxes – which country to pay in?

If an American lives in one country (e.g. Spain) while working for an American startup and being paid in US dollars, should he pay taxes in the US or Spain, or both? In Europe the national health care systems are tied to paying taxes in a country. How are nomads dealing with health insurance? I’d really love to be completely above board w/r/t taxes and have health insurance, but all the advice I find online either sounds made-up or is “consult with your accountant”. If I had an accountant I wouldn’t be searching for this info!

The Ultimate Guide to Estonian E-residency, Banking and Taxes

In this extensive article I go into detail for why you might or might not want an Estonian e-residency, how it can make it really convenient to bank and run a business in Estonia, some basic tax implications, and lastly explaining the process of obtaining an e-residency.

Where To Register A Company When Being A Traveling Digital Nomad?

Do you have any recommendation on where in the world to register a company when being a traveling digital nomad and EU citizen in Asia?

The World’s Best Bank Accounts For International Travelers And Nomads

I spent countless hours finding the best banks for nomads in North America, Europe and Oceania, so you don’t have to. Read on to learn more about these incredible banks and how you can open an account with them today.