Yes, you may have heard that some people are making a lot of money online. Well, that’s one of the things that’s common between online and offline (or real-world or brick-and-mortar however you want to call it). Some people can make a lot of money, while others reasonable and many more barely or just enough. So, it’s not that jumping on to the online gives an edge all of a sudden. It does open up some new avenues that are not possible otherwise or suit one’s personality.
Say you are spending no more than 1hr a day and managed to make less than $200 a month. That’s $2,400 a year. But also say you have $100K in savings that you invest in stock, mutual funds and CDs. By spending the same 1yr constantly updating your knowledge on the stock market, and buying and selling the stock at the right times (which is a big if, but one thing I learned is that only if you constantly follow the market you can make better decisions even if they are wrong sometimes), you have the potential to increase your income a lot more. One key difference is, with financial investments, there is a potential to lose your base money itself, no denial. But you could lose a whole lot by not following the markets at all and just putting all that money either in just a savings/cd or putting it in a mutual fund and not tracking it’s performance.
So, unless you see a progressive and higher return on your time investment with online ventures, don’t keep wasting too much time on it. As much as the thought that you can rake in big profits while you are basking on a beach in some beautiful resort might be very tempting, it’s not as simple and easy. But most importantly, in pursuing this dream, make sure you don’t lose money in other areas. The net profit could be negative!
