Featured in: ✈️ Project Pan Am (My attempt at building an anywhere income)
An anywhere income is any source of revenue that is not bound to a geographic location. It could come from stocks, remote work, or digital content distribution. The digital age enabled a new way of working that was not imaginable a decade ago: working on the same things from anywhere in the world.
This is my dream life because it is the only way I can spend significant chunks of time with my wife in the US and my family in Germany.
Passive incomes are a special kind of anywhere income because while every passive income is an anywhere income, only those that don't require active work are considered passive. Dividends from stocks are passive while consulting can be anywhere. I prefer the concept of the anywhere income because it is not only more in line with my goals, but passive incomes also often require more work than people realise, which puts them more in line with the concept of an anywhere income.
Passive vs Anywhere Income
To build a passive income, I have to invest either time or money in advance: time to create something desirable or money to invest in other peoples' projects.
What annoys me about passive incomes is the mindset that goes along with them. The focus is to never work again and to reach this state ASAP. I fully understand this mindset, yet it doesn't align with my views. Not only do I doubt that there are a lot of revenue streams that require no work at all, but I also don't share the desire never to work again. I don't love working for somebody else, but spending time on my business ideas and seeing them grow is one of the most exciting things I can imagine.
The businesses I want to build should be smart and optimised so as not to require unnecessary work. I want to put in the hours to build something up and then be smart about automating whatever can be automated, though I don't expect anything ever to be entirely passive.
And that's why I call it an Anywhere Income.
It is neither bound to a location nor to set work hours. It combines the advantages and desires of an anywhere income with the realistic expectation to still work on my ideas. In my dream scenario, I'll wake up in the morning, work on my businesses for 2-3 hours, and then head out to explore wherever I am with my wife. This is the Anywhere Income I want to achieve.