Retirement doesn’t have to be the end of your working life; it can be the beginning of a whole new chapter. Whether you’re nearing retirement and dreaming of traveling the world but are worried about spending all your savings, or if you recently retired and are exploring your options for what comes next, you’ll be happy to know that there are a wealth of benefits to becoming a remote entrepreneur or digital nomad.

In today’s digital age, it’s easier than ever to become a remote entrepreneur or digital nomad at any age, so if you’re considering making the switch to remote work, here are some of the top benefits you can look forward to.

Digital nomads vs. remote entrepreneurs

Being a digital nomad and being a remote entrepreneur are not necessarily the same. However, the two are closely related.

What is a remote entrepreneur?

A remote entrepreneur is someone who starts a business that can be managed and operated entirely online. Consequently, these types of businesses don’t require a physical premise or office. Remote entrepreneurship is therefore related to the characteristics of the business you start, and not necessarily to where you run your business from or how you live your life. For example, you could start a remote business and run it from the comfort of your backyard, and you’d be a remote entrepreneur, but, as you may imagine, there wouldn’t be much nomadic spirit in you.

What is a digital nomad?

A digital nomad, on the other hand, is someone who lives and works to travel the world. As the term nomad implies, digital nomads don’t settle in a single place but are constantly moving, visiting new cities and new countries all year round. Contrary to retirees who save money all their lives and then use it to travel around the world, digital nomads work online while they’re on the road. That’s where the “digital” in digital nomad comes from.

Being a digital nomad is a lifestyle based on travel and online work that’s becoming increasingly popular and not just for millennials and Gen Zs. It involves taking on remote jobs like copywriting, web and software development, graphic design, and more. It also involves blogging, vlogging, trading on online platforms, and creating other online passive income sources to pay for travel and lodgings. In some cases, it also involves running an online business.

This is where becoming a remote entrepreneur and becoming a digital nomad merge into one, and it’s one of the best options for early retirees who feel they still have a lot to offer to the world and a lot of the world to see.

Top 7 reasons to become a digital nomad/remote entrepreneur after retirement

#1 Capitalize on your life experience

One of the biggest benefits of becoming a senior digital nomad is that you already have years of life experience under your belt, and you can capitalize on that to make the whole experience more enjoyable. You probably have plenty of experience traveling; you know how to work your way around the fine print of an insurance policy, and, depending on your background, you may even know how to run a business.

All this experience is priceless, and it increases your chances of success when becoming a remote entrepreneur and digital nomad, making the most of this unique lifestyle.

A man riding a bike.

#2 Travel the world without touching your nest egg

Many retirees saved their whole lives just to have enough money to travel the world, meet new people and experience new cultures after retirement. However, it’s also true that most retirees fear outliving their savings and not having enough to get by and pay for medical bills when they need them the most.

However, becoming a senior remote entrepreneur lets you cut through the fear and make your dream of traveling the world a worry-free reality because you won’t touch your savings to pay for travel. Instead, you’ll pay for your new lifestyle with the revenue you make from your remote business once you get it off the ground. You can even continue making your nest egg grow while you’re on the road by reinvesting any excess income with a good international online broker. It’s a win-win however you look at it.

#3 Increased flexibility and freedom to work on your own schedule

Once they reach retirement age, most people are quick to leave the 9-5 world behind and start working on their own schedule. This means they only work when they feel like it (usually when their energy levels are high) and not according to a rigid schedule dictated by someone else.

However, becoming a digital nomad lets you take this one step further by freeing you from office life altogether. You can make your own hours and travel at will without worrying about office politics or even office dress codes.

#4 Live an unconventional lifestyle

If you’re one of those people who spent most of their life in an office doing what everyone else was doing: working a corporate job you hated but that “paid the bills,” paying your mortgage, saving for your kids’ college, so on and so forth, you’re probably desperate for a change.

Becoming a digital nomad and embracing this new and unconventional lifestyle will bring back the excitement and a sense of meaning to your life that will make your golden years truly golden. It’s the perfect way to break free from everyday consumerism and experience something more meaningful than the life you used to lead.

#5 Spend retirement productively instead of wasting it on the couch

Becoming a remote entrepreneur and digital nomad allows you to turn your golden years into a time of growth and development instead of wasting it away on the couch watching re-runs of “Everybody Loves Raymond.” It’s a more profitable and fun option than taking up a part-time job at the local farmers’ market or working as a consultant in your old workplace. In short, it’s a good way to not only enjoy new cultures but also to avoid feeling like you’re useless to society.

#6 Meet like-minded individuals in international coworking spaces

Coworking spaces are the best places to boost your productivity to the max while traveling the world. They are sprouting up in major cities worldwide and are being rented out by entrepreneurs from all walks of life, many of whom are digital nomads themselves. You can even find special accommodations custom-tailored to digital nomads that include coworking spaces as a part of their services, allowing nomads to co-live and co-work all in one place.

That means that coworking spaces can serve as a great place to get your business off the ground and meet like-minded individuals you can share ideas or simply make friends with.

#7 Live in cheaper countries where your income is more valuable

Last but not least, becoming a remote entrepreneur lets you travel for longer since your income will likely be higher than the average salary of many countries. By sticking to regions like South East Asia, the Middle East, and some South American countries like Colombia or Venezuela, you’ll be able to live almost like royalty and still have plenty of money to spare every month. This makes it possible to enjoy the best each destination has to offer without breaking your bank and spoiling your retirement savings.

The bottom line

Becoming a senior digital nomad or location-independent entrepreneur who doesn’t touch their retirement funds to pay for travel means that you can spend endless days making memories while continuing to grow your nest egg. It’s an ideal way to explore the world, meet new people and try different cultural experiences without worrying about money.

No matter what your background might be (a former 9-5 worker with children to support, an empty nester who wants to live life on their own terms, etc.), there are countless benefits of adopting this new lifestyle that make it the perfect choice for anyone who’s looking for something more than just another vacation experience. It’s the perfect recipe for living out your golden years stress-free, professionally fulfilled, and having fun while doing so.