Addendum. Also, learn to code, as that's MUCH more permanent than camming and less dependent on marketing than tutoring and hypnosis. If you can get paid for work you do yourself without marketing, you're doing well.

I've done this twice in my life. First, when I was in college, I took a semester to study abroad in china while continuing my old job for a SF startup remotely. I felt rich, yes. But it was a failure - first and foremost, I want to hang out with people whom I can communicate and enjoy my time with. I learned this lesson after trying this again, but this time, moving to India for 3 months. I am Indian, so I didn't expect the cultural barrier to be as much of a problem. It was.

I always figured a better idea was to live in an area with really high cost of living with salaries to match (e.g. be a software developer in Silicon Valley or a quant in New York), but maintain a middle-class standard of living, save a big chunk of your salary, and then go live in an area where the cost of living was much lower.

A less drastic version of this, if you are in the US, is to do remote work from a thinly-populated rural state with a low cost of living, and ideally with lower state taxes.

But the problem with that is that you have to live in rural America.

1. Obtaining a remoteable job is much like obtaining a job with any other specific benefit: the market is going to arrange things so that jobs with the benefit pay less in other ways, on the average, than jobs without it. And given the paucity of remoteable jobs, you've drastically cut down your options.
2. Living in a faraway country means that you are far away from relatives whom you might want to visit.
3. Living in a faraway country means either learning the local language or being at a serious disadvantage.
4. Living in a faraway country means living in another culture. Very basic things that we take for granted in our country might not exist in others. Do you even know the correct way to bribe public officials? What's your social life going to be like when few people watch the same TV shows or read the same books as you? Are you sure you like the other culture's food, and want to follow their holidays instead of your own? Is the other country going to be more tolerant of weirdos, and are you going to be perceived as even more of a weirdo than you might be in the US? If you have kids, what's the school system like? Are people with your religion going to be as accepted as in the US? Do people in the other country resent (or even just look down on while being glad to take the money of) foreigners?
5. If a job is available for you in the foreign country, it's equally available to local residents. If you could program by long distance, the company you work for could just hire a programmer from the country instead, and he wouldn't demand American salaries.
6. If you do lose your job, how are you going to find another one? Fly to America for the interview, while unemployed?
7. Did you actually consult with a tax lawyer? (The US still taxes expatriates.)