Hey Everyone,
I'm new to the board as a poster, but not new to reading the posts. Good info on here.
My question is: Has anyone developed successful systems in which to create residual income so you can travel for long periods of time. I'm primarily talking about businesses that can be run from a laptop with an internet connection, or a cell phone. I have multiple rental properties that create a residual income and also work for a big bank as a mortgage consultant (pretty flexible and allows me to travel a lot). I've been trying to save money, and also buy more properties to have a property manager take care of for me (creating residual income, doesn't require my presence). I have online payment options set up and the mortgages are at about 50-60% of the value of the home. Sorry for all the technicalities but just curious if anyone has done this and any advice you can give me. Thanks in advance and feel free to be very candid. I guess I'm just trying to justify my need to travel and am looking for accreditation with my approach.

Stacks79

I haven't done this, though I would love to and have met several people who do it. My only recommendation is to check out the book The 4-Hour Workweek by Tim Ferriss if you haven't already. Obviously, I can't guarantee from personal experience(yet) that his advice works but the book is pretty compelling and it has some brilliant stuff to say about streamlining your life and understanding your goals, which applies to anybody, in addition to the more practical advice about creating residual income. He also has this awesome concept about mini retirements.

Best of Luck

Thanks travelologist. I have actually read "The 4 hour Work Week." There is some good info in there about creating businesses that can be run remotely. I am currently working on a website business as well as the real estate stuff. Just trying to grow these options as much as possible so I can begin doing some more long term travel. I've been traveling for years, but only in 2 week intervals. Can't wait to begin a "mini retirement."

It is possible to work and travel, websites are the way to go, it is competitive but possible if you pick a niche topic.

Making money from websites and blogs is definitely doable, but it takes A LOT of work. The good news is most people are self-taught from the loads of free information available on the internet.

But it takes A LOT of work to start earning an amount that will affect your travels. I reached that point on my RTW trip, but it is probably not for everyone. There is no denying it takes time away from your actual travel experience.