Every so often I like to do a post for new readers, because this isn’t your ordinary personal finance blog.
Well, the first thing you’ll notice is that there’s no advertising. In fact, no obvious way of monetizing the blog at all …
That’s an important clue. It either means: (a) I have no readers to bother monetizing, (b) I have no idea how to monetize a blog, (c) or I don’t need to monetize.
Given the title, it should be obvious that (c) is the correct answer.
In fact, the lack of monetization is one way that I try and ‘prove’ the basic premise of this blog … and, therein lies its greatest differentiator:
I am one of the vey few self-made multimillionaires to write about finance … and, one of a tiny group that actually made their money before they started writing.
For example, in one of Robert Kiyosaki’s books he states that his passive income from real-estate was about $100k per year when he wrote Rich Dad, Poor Dad (or, produced his game “cashflow quadrant”, whichever came first: book or game).
To be fair, let’s just take that to mean ‘net income’ … assuming that his net-income was between 5% and 10% of his real-estate portfolio, that made him a millionaire once – perhaps twice. Certainly impressive, but hardly enough to retire on.
On the other hand, I started $30k in debt and made $7 million in 7 years.
In fact, the highest cash balance that I had in my bank account before I started to write this blog was $10 million. And, that was on top of the other assets that I owned.
This makes my perspective very different to most personal finance bloggers who are all about frugality, debt reduction, paying yourself first …
… all admirable, even necessary, but none will make you rich.
And, herein lies the unique nature of this blog: I believe that you need to become relatively rich in order to retire reasonably well (and, early) these days. I believe that you need to build up a nest-egg of $x million in y years, where x > 2 and y < 10.
I filter my readers by the title of this blog: How To Make $7 Million In 7 Years.
So, when new readers, like Emily tell me:
Some people really don’t care about riches. Our neighbor and handyman loves being able to work at his own pace and not deal with employees. He will occasionally have a nephew or brother help him with a job, but he has no desire to rack up a ton of money and looks forward to continuing his trade until he dies.
But, pushing aside obvious issues such as what does he do if he gets too sick to work (or, simply too sick OF work), my blog is aimed solely at those who DO want riches.
I’m a new reader and love your blog.I’m reading all your back posts now and having a lot of fun.
I agree with you.If a person must choose a money problem why not that of plenty rather than scarcity?
“If a person must choose a money problem why not that of plenty rather than scarcity?”
@ keerthikasingaravel – LOL. Nicely put.