Online money milestone has me on track for commute-free future
It’s been a long time coming.
One hundred and 35 days to be exact.
But it finally happened.
Yes, 135 days ago (at the time of this writing), I embarked on a quest to see if I could make enough money to quit commuter life forever and become a full-time online content creator.
I calculated that, in order to make that dream a reality, I would need to generate $250 per day to support my lifestyle.
And while I have yet to hit that number on an everyday basis, I have, for the first time, crossed the threshold in a single day.
But here’s the thing.
Most people will look at the chart below and think, “Wow, he must have had a huge pop on YouTube or something!”
But the truth is that it wasn’t really about the content at all.
It’s what you do after you make a name for yourself as a writer, YouTuber, or whatever that allows you to live the life of your dreams.
Allow me to explain.
Content isn’t enough
Most people who make a living online don’t do so exclusively via content.
Yes, the content does bring in some money, but typically it’s used to:
Build an audience
Funnel that audience into products or services (your own or via affiliate marketing)
Now, my returns in those areas are a pittance:
I haven’t yet created any courses (though I do plan to do that soon)
I’ve only made a few hundred bucks via Amazon Affiliates
But one thing I do that most others don’t?
Putting my money to work for me
If you’ve been following my journey for any amount of time, you’ll know that every dime I make from content gets rolled into a basket of investments.
I buy:
Dividend stocks
Equity ETFs
Bond ETFs
Typically I hold stocks for very long periods of time, but every once in a while I’ll close a position when my trading strategies dictate it.
In this case, I dumped my investment in fintech company SoFi when the company issued a large debt offering (I don’t trust companies that screw their long-time shareholders by diluting shares, so it was time to get out).
I walked away from that trade with a capital gain of about $223 which, when added to my earnings from writing and YouTube, put me well over the $250 mark.
Not only that, I expect a flood of passive income dividends from my bond ETFs and real estate holdings in the coming days as well.
So why should you, an aspiring content creator trying to come up with a plan of attack, care about all this?
It’s actually really important.
What’s your plan?
Yes, there are content creators who can make millions from from ads or subs alone, but this is rare.
And even those types of people — we’re talking the MrBeasts of the world — are constantly building and expanding outside their specialties.
For many big-time creators, the money flowing directly from content pales in comparison to extracurriculars like affiliate marketing, course sales, and other projects.
So I ask you now: What’s your plan to accelerate your earnings from content output?
I invest in stocks and bonds
People like Zulie Rane use their content to gain freelance clients
Tim Denning and Eve Arnold use it to build email lists and sell courses
If you don’t have an answer yet, it’s probably time to come up with one.
Friends, thanks so much for taking the time to read today! If you enjoyed this piece, please let me know in the comments and support my work directly by leaving a small tip!
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Disclaimer: The author of this article is not a financial advisor. This commentary is provided for general informational and entertainment purposes only and should not be construed as financial, investment, tax, legal or accounting advice. It does not constitute an offer or solicitation to buy or sell any securities referred to. Consult your financial advisor prior to making financial decisions.