A reader on Twitter writes in to ask…
Hey dude. I’ve had enough of the 9-5, quit my job and brought a one way ticket to Europe with 15k in my pocket. I fly out in two weeks. I’ve followed you for a while and seen you have done well and worked hard for your online businesses so would appreciate your opinion. Had a look at your niche site product however I’m no good at writing – what other ways can you recommend to make money online? I understand there is no quick fix and the next two to three years will be very tight.
You would honestly be quite amazed how quick of a fix you can make if you know your way around paid traffic. I had this revelation recently, when I started doing dropshipping in addition to my other ventures.
I turned some Facebook Ads on and got sales within a day.
Much, much faster than any niche site of mine ever did (my record is making a few cents within a month, certainly not sexy).
Granted, niche sites are great because they require no up-front investment and they are completely self-sustaining — true “passive income”. Dropshipping, IMO, is not. It requires daily monitoring of ads, processing orders, dealing with fulfillment and customer service, etc, etc.
Sure, you can hire an assistant to do most of that.
But I personally sure as hell wouldn’t be trusting anyone but myself with my own FB ad campaigns.
So, in this case, *if* the reader has the capital to try Dropshipping, I’d recommend using James Holt’s “Start Dropshipping Stuff” to learn the ropes:
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But wait, listen up as the below is critical:
There’s a reason people who just rant and rave about all the problems in society, whether it be dating, whether it be big government or whatever tinfoil hat theory…
There’s a reason they don’t make money, and that’s because they’re not solving other people’s problems.
Now, certainly there are some personalities out there who are making good money from political commentary.
But overall, for every person whining and fighting on the interwebz over political views, I wager the percentage of them making any income is VERY low.
Nobody cares about your own problems.
Only that you can solve theirs.
Always, always remember that when you’re trying to make dough online. Keep it in the back of your head, memorize it, and repeat to yourself over and over again…
Solve problems by offering solutions.
Also, how bad do you want it?
I was prepared to take 20% of my corporate salary for 5 years if it came to it.
Think about this:
- Average person making $100k a year takes home $60k.
- You know, you could manage to live off of $1.2k a month in many places in the world.
- (Manage, not ball out)
- $1.2k/month * 12 = $14,400 year.
- 24% of 60k.
You’re telling me you can’t make manage 20-25% of your corporate income to pursue your dreams? Bullshit.
You can save it and have a multiple year cushion. Or even move in with folks for a while to save it up. Anything is doable.
Now, I know, I know.
Only taking $60k home seems like very little.
But let’s do some real math on that.
- Subtract 10% of the salary for 401k contributions (not taxed), leaving you at $90k.
- Let’s say you pay $300 a month for medical insurance which we’ll just round up to $4,000.
- That’s $86,000 of money that can be taxed.
- 24% of that is just over 20k, taking your income down to 66k.
- California, for example, taxes that $86,000 at 9%, so that’s about another $8k down the hole.
- So your $100,000 is down to $58,000, just like that.
My numbers match up to my real life experiences.
At my last corporate job, my base pay was $86,000 a year. I took home $4,400 a month, which comes out to $52,800 a year. Of course, the sick joke is that the only way to get real tax breaks are to get married (no thanks, and you’ll pay later it later for a divorce in Cali), or to buy a house (impossible for anyone on that salary in a place like Los Angeles).
Alright, enough numbers before I make your eyes bleed even more than they already are.
Just wanted to look under the hood and figure out those numbers. FYI, it’s early in the morning here, and I don’t particularly care if I’ve missed something minor and my numbers a bit off.
What matters is that you now have a basic understanding…
That the little money matters.
“Noob Niche Site” teaches you how to make your first buckaroonies online, and then you’ll never look back.
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