The Reality of Making $100K Per Year
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- Опубліковано 6 жов 2024
- Recently I had one of my best months to date and going forward my projections are set to easily clear 100K in gross income annually. After making my first $8500 month I soon realized that the reality of making 100K a year what not what it seemed. I talk about how I reached $8500+ per month and the sources of income I bring them through, as well as some of the down sides of making that amount.
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Your spending and lifestyle become relative to your income! The amount of times I hear of people who make >200 a year and "have nothing to show for it" surprises me.
This is 100% true for most people.
Proud of you man, trying to get like you, just started my depop like 5 days ago and I have sold like 7 items. keep up the great work!
I personally appreciate your honesty Evan, for your younger age because as a 60 year old man the young here listening to many channels about making this and in two minutes is not what they need to hear, they need to hear from you and others like you, thank you Evan, you are doing great in your 3 directions, a path to a better life, I see you are going places. Lance.
Thank you. I appreciate the support! It means a lot.
You have to look at a longer time horizon. To put away 100k in a year, you realistically would have to make 250k. My advice for you would be to become very skilled at something and do it for a long time. I did that with house painting on accident, which is historically a very low paying trade, but I make 55-75$ an hour on most of the jobs I take now because I’ve gotten super efficient. I wouldn’t recommend becoming a house painter, but the idea applies to any field.
Very true, I only make as much as I do now because I stuck with the same job long enough to become really good at it, and started my own business, and hired people, so now I make quite a lot more than I used to, but I also do a lot more work than I used to. Even with the more work, though, I'm making much more money for the time I spend than I used to. Multiple times as much.
Great mentality and great motivation. Although I don't think I will get to the point of sleeping 4 hrs everyday, and I also prioritize time to exercise and eat well. After a close call, health comes first but I know I have a lot of room from improvement. Thanks for the video!
I completely agree with you. I work two jobs, and I don’t even consider my gross income. I only consider my net pay.
I’m 31yrs old. With that in mind, I’m just trying to improve my business acumen, as in sales, marketing, and etc. then leverage those skills and the capital I will have saved to earn more money.
I don’t expect this strategy to pay off until I’m at least 35yrs old. I sacrifice a lot of time and experiences, but I don’t have an advanced degree or a specialized skill to rely upon, nor do I want to go back to school. I will just make do with my 4yr degree in political science.
My margin for error is low, but thankfully I haven’t got anyone pregnant yet. Additionally, I currently split bills with my mother and sister. 🤞🏿
Best of luck to you, my friend you are zoned in. 💪
My dude, you gotta sleep more than 4 hours a night. While your work ethic is admirable, that's not gonna be super sustainable
You need $100k net not gross, you will be left with like $33k after cost of goods and taxes if you have 100k revenue gross. Don't forget you also have to pay taxes yourself on the money you make if own your own business.
Awesome video from a young guy! The first 30 seconds I could tell you are in chandler az
I feel you big time,, I sell on depop and I always feel bad for talking about the negatives but really it is so so much time and energy!! it can be so draining and disappointing sometimes. hoping august will be a good month though!
The background music is a little distracting. Might be better if there was a less repetitive background music. Keep that in mind if many people aren't finishing your whole video.
It does suck, but it sucks more to get stuck with an unexpected tax bill for your business. Be sure you're paying quarterly taxes so you don't get hit with a penalty. Being aware of expenses for a business can be a shock, but it can also help you plan and strategize changes you want to make so don't get discouraged. Just for perspective, I worked that hard and went sleep deprived to go to college and it didn't pay off as well. Take care of your health though because that is priceless.
hey man i just started a depop full time lowkey with my girl for the past 9 months and we’re making around 2-2.5 per month now any tips on how to grow on social media and how much stock do you post per week? Also you should get a tax expert you can write business expenses off on your living expenses and business expenses if you have an llc and you theoretically if you spend most of the money on business and living expenses then you can pay 0 taxes on it if you spend it all into assets for the business or property etc
Thank you for your input.
I have a few videos on your growth strategies for Depop. I also have a classroom where I teach people to become more successful resellers.
do you do markets? may be a way to save time listing and shipping and also to make a lot of money at once…
I'm curious... how is the cost of living (where you live) and how many people do you support? 100k should be good unless you have excessive debt or high rent/mortgage. But still, you're doing great. Don't say you aren't smart... you're making a way for yourself and that is more than a lot of people.
I am currently living with my parents and I support zero people (I’m 20)
@@EvanZoeteman without knowing more, your plan.. advice is hard to give and not even sure if mine would be the best.. but take it from someone who has live a bit longer than you.. never take on any debt. Live within your means, and while you still have the energy, work, invest. If you start now, you will be set in life. Save up for everything you need/want, cash flow everything. If I had this advice when I was your age, I'd be in a much better place than I am. Also, check out Dave Ramsey, because of his channel, I'm finally getting myself together, doing so much better in life. I'm almost debt free and all it took was his advice. Every month, I have a budget and as long as I stay within it, there's little to no stress.
If you’re making 100k a year and have no bills and are struggling you need to budget. I make less than 10k per year. I’m miserable, but I budget.
And I actually pay for rent, utilities, food, every single one of my bills.
Get rid of the background music
8,500 on depop or 8,500 with depop and your jobs?
Depop + jobs
0:37 how the duck you made money from yt? In my region you have to have at least 10k subs to accept monetization, under it no ad revenue, no sponsors, nothing...
You need 1 k or a # of views
Not to add even more onto your plate, but have you thought about being a model professionally? Could be another source of income :)
That’s funny you say that. I actually tried to be a model when I was 18-19 I went through a modeling class and did a few photo shoots for free. it’s definitely not easy but I know its not for me now, but I would be open if someone ever reached out asking in regards to it.
@@EvanZoeteman aww don’t give up! i was rejected a lot but got signed recently. if i can do it, surely u can too! i just mention cos i can totalllyy see it and so many models hustle Depop too lolol
If you do it right you’d take home $80,000/$100,000