If you want to be a digital nomad and build up passive income streams, ESL Teaching might seem kind of like an attractive gig to get into. You get paid to live overseas. And you often get a free plane ticket (Middle East /Korea) as well as paid for, or subsidized housing. And you’ll have so much time to get your online ventures up and running. Sounds fabulous!
Except the thing that many people forget is that it’s an actual job. You’ll actually be expected to prepare for and teach classes, which can be a little bit exhausting, especially if you’re teaching young children or are quite introverted. You may or may not get a lot of down-time/vacation time.
So, would I necessarily recommend ESL teaching for those who want to get into the passive income thing? Probably not. It’s worked out for me, but I networked/ qualified myself to one of the top positions for an ESL teacher in Korea. The pay for the number of hours worked is excellent (for a Korean Uni one time I estimated it to be $100-150/hour), but the overall pay package is not fabulous. And, I actually do have free time to spend on my online ventures.
But, if I lived my life over again, I probably would have studied something in uni that would have led me to a much more high-paying job, such as business. And then, I would have worked in that field for a period of time, saved my money, retired early and then gotten into the digital nomad thing. And, I obviously would have been able to invest much more capital into the stock market to get the dividends rolling in at a much higher rate.
But, I can’t complain! I’ve definitely had an interesting life so far.