A 33-year-old woman, who makes $760,000 a year in passive income, shares the secrets of her success.
Michelle Schroeder-Gardner was 22 years old when she felt suffocated by her demanding student loan while making $44,000 a year as a financial analyst. So she started to track and share her progress in meeting her financial goals in her blog, which she started as a hobby.
Now, after 11 years, her blogging and other passive income streams generate $760,000 yearly letting her and her husband retire anytime they want and supporting their lives on a sailboat. The cherry on the cake is that she works only 10 hours a week and, therefore, has plenty of time to spend with her daughter and husband!
Although Michelle’s blog was initially a hobby, six months after she started it, she received an offer to write a sponsored post for a company. This motivated her to study other bloggers, post more frequently, and reach out to companies for more sponsored posts.
In two years, she was earning around $5,000 to $10,000 monthly and completely paid off her loan. She then quit her job to concentrate on blogging full-time.
Initially, she focused on blogging by posting one article almost every day. She then started working on making her social media presence more prominent. By investing her time in different channels, she has developed passive income from several platforms.
But this doesn’t mean she doesn’t have to work at all. She still writes new articles to keep her blog active, direct traffic, and gain new followers. However, she gets to live her dream life while doing so.