Blogging Yourself To Financial Freedom
Making Our Way has a great post on how people think they can start a personal finance blog and expect to make enough money out of it that they can quit their jobs!
Unless you getting 50,000 hits a day, thats not going to work out for you. And unless your a marketing expert, SEO guru and a great writer with interesting content, that really isn’t going to happen.
Instead you should try to make $200-$500/mo from it and consider that to be one of your multiple income streams. If you can develop a dozen income streams each paying you $500/month, you’ve set yourself up for financial freedom. It may not be enough to live luxuriously, but at least you won’t starve if you lose your job, or want to take a year off to pursue your passions.
Other examples of income streams can be paid off rental properties, stocks that pay a dividend, Canadian income funds (also oil & gas funds), actual oil & gas projects, equity stakes in a business, trust deeds backed by real estate, and micro loans(like prosper.com).
The more diversity you have, the safer your total income will be!
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- Always Have Multiple Streams of Income One of my friends quit his job to play online poker about 2 years ago. He was doing exceptionally well, quadrupling his salary through a few hours of poker playing. All was well until a few weeks ago when online poker was banned. All of a sudden he found himself......
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- Monthly Passive Income Crosses $2,000 Mark! I've finally broken the $2,000/month in passive income! Passive income for February 2008 was $2,383.55. Not bad considering I wasn't even in the country! Here's the breakdown: Online Income: $$1399.29 Adsense: $416.22 Linkworth: $221.99 TLA: $95.87 Kontera: $51.36 Affiliate: $83.85 Prosper Referrals: $100 Direct Ads: $430 Savings Accounts: $138.43 Real......
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March 14th, 2007 at 3:35 pm
wow, do people out there really go into blogging on PF to get wealthy? I do it just to share what I’ve learned and write up some ideas. But that’s just me…
March 14th, 2007 at 10:47 pm
Thanks for the reality check!
I don’t really do it for the money except maybe to pay for my commuting expenses for work! lol.