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What’s up, Reader? It’s ya boy, Eli. Last week, I made mistakes. A few, actually. Mistake #1 – I cheated on my main chick (writing) for a side chick (streaming). Mistake #2 – I failed to realize that while there’s a method to Ye-style marketing, it requires a very loyal audience. It is best to use it sparingly when building an audience (as I’m trying to do). Though the Martin Louis the King Jr. tactic worked (the post is currently most viewed on my website), it was a mistake to switch my positioning from writing to streaming so suddenly. The Risk and Reality of Starting an Online BusinessYou see, all these activities I’m pursuing—content creation, writing, photography—began as creative outlets. It’s only recently that I’ve attempted to transform them into a business venture—it’s hard. Despite setbacks and challenges, I remain convinced that creating content or launching an online business in 2024 offers a viable alternative to traditional employment. People think it’s risky and only a few people make it, but this isn’t true anymore. You don’t need to be Mr. Beast or Gary V to be successful online. It doesn’t take that level of fame, virality, or popularity. More and more people are showing it’s a legitimate possibility. There are writers on Twitter, for example, with less than 1,000 followers making $5,000+ per month ghostwriting for high-ticket clients. It all depends on what you’re offering and how it’s setup. At this point, working a regular job is just as risky as jumping ship and starting something new. Why Retirement is a GambleAt my last job in clinical research, I came to the conclusion that saving for retirement is just another gamble — as well as a trap. For starters, the amount of money you need to comfortably retire at 65 is infinitely increasing. In 2024, a comfortable amount of retirement savings is, on average, $1.5 million (a 15% increase from 2023 and a 53% increase from 2020). Let’s say you land a job making $50,000 a year at age 21 (unlikely but let’s roll with it). Here’s how much you’d have to put back each month to hit $1.5 million at age 65:
This is assuming you never get a raise, no market fluctuations, no interest rates, inflation, etc. Chances are, these factors will increase the amount you have to put back. Market fluctuations, interest rates, and unexpected life events tend to occur way more than raises. Most people our age cannot afford to save. In fact, 2/3 millennials have a whopping $0 in retirement and savings. Even if you were to successfully save, inflation will counter you in the long run. Like I said, saving for retirement is a gamble. Now let me explain why it’s a trap. Imagine someone comes up to you and says: “I’ve got a deal for you. It involves working for me 40 hours a week for the next 40+ years. During this time: You will do as I say. Your feelings about the work are irrelevant. You may not enjoy or even believe in what I ask you to do. You’ll need to be sure you’re prepared with necessary skills and knowledge, which might cost you about $100,000+ in education. (I’m not paying that — you can take out loans.) You’ll get free time in the form of weekends and evenings. You can do what you want during this time, but you’ll probably use it for rest so you can come back and be a better servant. You get limited vacation time, but it’s subject to my approval and your coworkers’ schedules. What’s in it for you? I’ll cover your basic living expenses, but not much more. In fact, you probably won’t be able to take care of a family with the income I provide, so you’ll have to sacrifice you’re off time to work out a similar deal with someone else. A portion of your income will go into a retirement account I own so you can spend the last third of your life not serving me — I may or may not contribute to this with you. After 40+ years, you’re free to go. (Any physical or mental toll is your problem, not mine) There’s no guarantee you’ll make it to the end. There’s no guarantee on how long you’ll live afterward. What do you think?” 100 years ago, this wouldn’t have been a bad deal, believe it or not. It probably wasn’t a bad deal for our parents. But that’s only because there was no alternative. Exploring Alternatives in 2024In 2024, there are many alternatives. I’m learning about these alternatives and attempting to create a content library for people who want to tap into these possibilities, just as I have. In these beginning stages, I’ll mess up. I’ll make mistakes, I’ll fail. The fact of the matter is it’s impossible to get good at something without first being bad. It’s all part of the plan. I’m learning and building as I go. Niches aren’t found online — they are built through content over time. Just have to keep showing up, creating, and adjusting. Hope you have a good week. Eli TOOLS I LIKEWebsite Builder (WordPress Plugin): Hosting Service: Productivity App: Creator Email Marketing: WHERE TO FIND ME
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I broke up with her and now I want her back
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