Collecting Wisdom @Collect_Wisdom
Collecting the best personal finance articles around the web. collectingwisdom.com Joined October 2018-
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Advice to my younger self: Focus less on trying to become a millionaire by 30 and more on replacing your salary with cash flow.
First, spend time building assets. Then, use assets to buy time.
Rule of thumb: Performing a service = Immediate, one-time income Building a product = Delayed, recurring income
95% of people don’t even try to earn income online. Of those who do, most quit after a couple months. There’s not as much competition as you think.
The only way to stop trading time for money is to own assets that produce income without your constant attention.
Limited income: -acquire niche knowledge -work at a job Unlimited income: -acquire niche knowledge -learn SEO -share your niche knowledge on a website fourpillarfreedom.com/income-communi…
Advice to my younger self: Stop trying to pick individual stocks. Just throw your extra cash into index funds. Then spend the rest of your time figuring out how to grow your income.
3 lessons from 3 books: War of Art: the more important a piece of work is to your own development, the more resistance you will face. Deep Work: 4 hours of focused effort each day is all you need to move mountains. Atomic Habits: the results of your efforts are often delayed.
To everyone asking about how to start a website, how to pick a niche, how to get traffic with SEO, how to monetize traffic: Everything I've learned about starting and growing profitable websites over the past 4 years is distilled in The Income Community: fourpillarfreedom.com/income-communi…
Something that's hard to grasp as a young person: The work you do in your 20s has a ripple effect on the rest of your life. The assets that you build and buy when you're young have the potential to pay you over and over again for decades.
So much freedom comes with the realization that nobody is tracking your failures - most people are unaware, don't care, or are too concerned with their own failures to worry about yours.
Build digital assets. They work around the clock to earn money for you even when you're not working. fourpillarfreedom.com/income-communi…
Received over $3,500 this month in Mediavine ads across four different sites. This alone was easily enough to cover all of my monthly bills. Learn how to build & monetize your own profitable website from scratch: fourpillarfreedom.com/income-communi…
My total income from websites in 2017 and 2018: $12,248 My total income from websites in the past 2 months: $12,205 Most of this growth is due to implementing SEO on my sites, causing traffic + income to explode. Learn the exact SEO strategy I use here: fourpillarfreedom.com/income-communi…
Received confirmation that my site Wander Cincinnati has been accepted to the Mediavine ad network. Started the site in Aug. 2019, so from 0 to profitable in about 9 months. 91% of traffic comes from google search. Will likely do $300-$400 in ads for first few months.
THREAD // Proof that the same SEO strategy can be applied across multiple niches with tremendous success 1. Statology (statistics educational niche)
Advice to my younger self: Don't overcomplicate investing. Index funds are fine. Your real focus should be on growing your income. That's where your biggest gains will come from early on.
In 2017 I started my first website. In 2018 I had my first $1k month. In 2019 I had my first $3k month. In April 2020 I had my first $6k month. I’ve built The Income Community to share my exact strategy for driving & monetizing traffic on my sites: fourpillarfreedom.com/income-communi…
An important lesson I wish I learned sooner: You should seek to spend your time working on things that, once you finish working on them, have the potential to pay you over and over again in the future.
How to earn income from a website: (1) Buy a domain name and a hosting plan. (2) Install Wordpress. (3) Publish SEO-optimized articles. (4) Monetize the articles with ads, affiliate links, and self-made digital products. Learn the exact details here: fourpillarfreedom.com/income-communi…
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