Financial Planning

Looking for a Financial Advisor for Digital Nomads?

By  Brian Thorp

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Are you a digital nomad? Or are you considering the benefits of working remotely and traveling the world? A financial advisor who understands the unique needs of digital nomads can help you make smarter money moves as you explore destinations near and far (or as you prepare to transition from a traditional career to working remotely and becoming location independent).

You’ll likely find dozens of financial advisors in your hometown well-suited to help you reach your money goals with a personalized plan. But it may be more difficult to find a financial advisor who understands the unique financial planning opportunities and challenges faced by digital nomads who may frequently move across borders, living and working around the world.

Fortunately, many financial advisors offer virtual services so you can meet online no matter where your travels take you, whether you’re telecommuting from Tulum or taking Zoom calls in Zimbabwe. This means you can choose to hire a financial advisor who lives thousands of miles away from your latest location if you decide their knowledge about financial planning for digital nomads could help you achieve better investing outcomes.


🌏 Smart Money Insights for Digital Nomads

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

  1. Q&A with Financial Advisors for Digital Nomads
  2. Get Answers to Your Questions about Financial Planning for Digital Nomads
  3. Browse Related Articles

– Financial Advisors for Digital Nomads –

Three Questions with Eric Simonson, CFP®, CRPC®, CLTC®

We asked Minneapolis-based financial advisor Eric Simonson to answer three questions for digital nomads (and people considering a location-independent lifestyle) who want to save and invest for their future.

Q: How does financial planning differ for digital nomads vs. people who work/live in their hometown?

Eric: It can be easier to ‘overspend’ as a digital nomad since you don’t have a consistent routine and it’s harder to make dinner on a set schedule, budget for rent and surprise expenses, etc. Also, income is usually more variable for digital nomads and because of both of these factors, it makes budgeting a much bigger priority. For most digital nomads it is challenging, but very important, to “save first” and then spend second rather than the other way around.

Q: If I own my house in my hometown, what options should I consider before becoming a digital nomad? 

Eric: Is your home a good candidate for a rental property? Can this provide you with potential supplemental income? Do you want to be responsible for maintaining the rental or hiring someone to do it for you? If you do not want to rent it out, is your home ready to be sold? Will you have to put work into it to sell it? Will you want to keep the property for a little while, in case you decide you do not like the digital nomad lifestyle to have it as a ‘fall back’ option?

Get to Know Eric:

View Eric’s profile page on Wealthtender or visit his website to learn more.

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Q: What questions should people consider asking a financial advisor before becoming a digital nomad?

Eric: What credit card should I be using to provide the best travel protection? How can I find flight deals or use credit card points to help me travel between destinations? What travel insurance should I consider? How will my taxes work? Do I need to file taxes in each location I live in?


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About the Author
Brian Thorp, Founder and CEO of Wealthtender profile picture

Brian Thorp

Founder and CEO, Wealthtender

Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

Disclaimer: In order to make Wealthtender free for our readers, we earn money from advertisers including financial professionals and firms that pay to be featured on our platform. This creates a natural conflict of interest when we favor promotion of our clients over other professionals and firms not featured on Wealthtender. Learn how we operate with integrity to earn your trust.

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