Collecting Wisdom

Collecting the best personal finance articles around the web.

[Collecting Wisdom @Collect_Wisdom]

Join the new Collecting Wisdom daily newsletter to have the top three personal finance articles sent straight to your inbox each morning: https://t.co/OAqp1qHiwa

[Four Pillar Freedom @4PillarFreedom]

Advice to my younger self:

Focus less on trying to become a millionaire by 30 and more on replacing your salary with cash flow.

[Four Pillar Freedom @4PillarFreedom]

First, spend time building assets.

Then, use assets to buy time.

[Four Pillar Freedom @4PillarFreedom]

Rule of thumb:

Performing a service = Immediate, one-time income

Building a product = Delayed, recurring income

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

The only way to stop trading time for money is to own assets that produce income without your constant attention.

[Four Pillar Freedom @4PillarFreedom]

Limited income:
-acquire niche knowledge
-work at a job

Unlimited income:
-acquire niche knowledge
-learn SEO
-share your niche knowledge on a website

https://t.co/BVKbSX0Kgl

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

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: https://t.co/BVKbSX0Kgl

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

Build digital assets. They work around the clock to earn money for you even when you're not working.

https://t.co/LXAFanBWcY

[Four Pillar Freedom @4PillarFreedom]

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: https://t.co/BVKbSX0Kgl

[Four Pillar Freedom @4PillarFreedom]

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: https://t.co/BVKbSWJ8RL

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

THREAD // Proof that the same SEO strategy can be applied across multiple niches with tremendous success

1. Statology (statistics educational niche)

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

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:

https://t.co/BVKbSX0Kgl

[Four Pillar Freedom @4PillarFreedom]

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.

[Four Pillar Freedom @4PillarFreedom]

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: https://t.co/LXAFanBWcY