Hey there Profiteers! I have some big news to share. This is my final income report for Personal Profitability. Follow along to learn why and what you can expect going forward here from the Personal Profitability blog and podcast.
What's the deal with these income reports?
Money is a big taboo for many people, which means we rarely talk about things like our savings, investments, and how much we earn from side hustles and projects. One of my biggest goals at this site is to help you reach your financial dreams, and I believe that being open and transparent with my successes – and failures – can help you learn to build your own side hustle and full-time income streams.
Since 2012, I have reported my online and side hustle income on this website every single month! Check out my online income tracker and click through to the monthly updates to see a breakdown every month from $739 online in January 2012 to my first $10,000+ month in October 2016 to my current six-figure income, which I earn from the comfort of my home office. Only eight years of hard work and I was an overnight success! But using what I learned the hard way, I hope to help you do the same far faster.
This blog started as a little side hustle project back in 2008, and it completely changed my life! Thanks to my online business that started right here, I now make more money than ever before, work fewer hours, have full control over my schedule, and love my entrepreneur lifestyle. If that sounds like something you would enjoy, follow along with my income reports each month, along with my free Personal Profitability Bootcamp, subscribe for free to the podcast in your favorite podcasting app, subscribe (and click the bell) to catch regular videos on YouTube, and grab some other goodies along the way.
In-depth guides for new readers:
- Complete Beginner Guide to Budgeting
- Complete Beginner Guide to Credit
- Complete Beginner Guide to the Stock Market
- Complete Beginner Guide to Freelancing
- Complete Beginner Guide to Travel Hacking
- 137 Side Hustle Ideas
Update from Profitability HQ
I ended the year with a bang. On the morning of December 31st, I wrote an article that pushed my total 2018 revenue past the $160,000 mark. To say I'm elated would be an understatement.
On that last afternoon, I also noticed my December income was just shy of the $10,000 per month goal I set for myself two years ago. But my average profit for 2018 was already locked above the higher $10,000 per month goal I set back at the start of 2018. I made it. So I decided I didn't have to push myself for the last few hours of the year to make an extra $600.
I did make that $600 in January. It's not like I gave up on it! However, it is also a good example of why I decided the time is right to end my income reports.
I didn't realize it at the time. When I started reporting my net worth and eventually online income when I founded this website in October 2008, I was on a path to prove to myself and the Personal Profitability community that I could build a full-time online income. I did it, quit my job, and support my family with my online income. I'm about to the three-year mark of self-employment.
Outside of living in the heart of Manhattan or a loft in San Francisco, I can live and support my family quite comfortably on what I now earn online. And by documenting the journey, I've shown myself and everyone else exactly what is possible online when you put your mind to it.
At the same time, I have to listen to my own advice. I tell other entrepreneurs again and again that they need to look at what is working in their business, focus there, and repeat.
Personal Profitability has changed my life. It has blown away any expectation I had about what my blog would become when I started my Narrow Bridge Adventure on that fateful October day. It led to my joining the Yakezie, an amazing community that taught me how to turn my hobby income an income. It let to going to FinCon, which taught me how to turn that income into a business. And now, online writing is my full-time business!
Writing an average of 2-3 articles per day for other sites leaves me with little time (or motivation) to write more here, which is why the posting frequency has diminished over the years.
I realize that now that I've proven what I wanted to when I set out, it's time for a new phase in Personal Profitability.
What's coming next for Personal Profitability
This is going to be the last income report, and in the near future the podcast will follow suit. But I'm not done with Personal Profitability yet.
The Personal Profitability Book
I started work on a Personal Profitability book a year or so ago, and I've picked up steam working on it again. I plan to get that finished and released as soon as I can. It's one of those things to stop talking about and start doing. Freeing up time from income reports and podcasts will give me more time for the book.
Paths to Personal Profitability: Personal Profitability Journeys
I have a TON of posts, podcasts, and other content hiding around the site. I'm going to refresh some of the most important stuff and build new Paths to Personal Profitability depending on what you need help with most. Look forward to journeys for people new with personal finance, looking to optimize their money, and looking to start or build a side hustle.
Profitability Coaching – Apply Here
If you want to work with me one-on-one, the place to do that is Personal Coaching. This is a high-end coaching program for people looking to pay off debt, optimize their money, or start or grow a side hustle. I'm still in the pilot phase of this program, but past clients have seen great results.
What I'm working on
Freelancing – Hire Me at EricRosenberg.com
This is my main income source, so it isn't going anywhere! This is the main focus for 2019, but I'm also considering expanding to an agency model. I'll definitely do a little testing to see how things work out.
Mastermind Hunt – Join at MastermindHunt.com
We've had over 250 users visit us at Mastermind Hunt, and the list is now growing outside of just the FinCon community. We've done some podcast guest spots, free webinars, and more to help promote this growing platform to run mastermind groups.
I attribute a lot of my success to mastermind groups and highly recommend them. Check out the link above to get started. Maybe you'll found your own side hustle or money makeover mastermind?
Community Sharer – Join at Community Sharer
My solo app had some big progress last month. It was approved by Facebook for posting to pages. It joins Twitter as two automated sharing options. I built this tool with outsourced developers in India to solve a problem I had in my own business. I wanted to automatically share my own writing from a list of client sites and wanted to better curate what I share in my social media channels.
If either of those sounds good to you, check out Community Sharer at the link above to learn more about how it works. I'm already using it myself!
The Final Side Hustle and Online Income Report
Welcome to my 84th and FINAL monthly income report! You can view income reports starting with 2012 here. September-November 2018 were my top three months ever, and 2018 wrapped up with a bang!
DECEMBER 2018 RESULTS
Personal Profitability Income – Advertising
- Affiliate Marketing – $9
- Click advertising – $0
- Direct Ad Placements – $0
Freelance Income and Services
- Consulting / Coaching – $0
- Live events – $0
- Speaking fees – $0
- Website support – $0
- Writing Services – $9,428
- Product Sales – $0
- Flipping – $5
- Premium Plugins – $0
Gross Profit – $9,459
EXPENSES (Does Not Include My Paychecks, Taxes, or Health Insurance)
- Advertising and Promotion – $155
- Bank Charges and Payment Fees – $18
- Business Licenses and Permits – $0
- Computer and Internet Expense – $757
- Conference Fees – $0
- Dues and Subscriptions – $0
- Meals & Entertainment – $0
- SG&A – $24
- Outsourced Labor – $940
- Partnerships and projects – $0
- Postage & Shipping – $25
- Professional Services – $0
- Telecom Expense – $67
- Travel – $1,728
- Total Expenses – $3,714
Total Revenue $9,459, Total Expenses $3,714, Profit Before Tax $5,745
Financial Planning and Analysis
This wraps up the year, so we can take a look at my full 2018 results. I brought in $160,377 in 2018. I'm thrilled with the result. But one thing that became clear is that this site isn't pulling its weight when it comes to where I spend my time. That's why I'm ending these income reports and shifting my focus into other ways of helping people succeed in their own money journey.
For 2019, I want to finish my book, further expand my speaking business, and maybe even venture into the world of brand ambassadorships. But for today, I'm focused on the most important thing for the moment: my clients and delivering an amazing result every time. That's what it takes to succeed in an online service business.
A huge thanks to everyone who read or commented on an income report over the years. My hat's off to you. Each and every reader, listener, and watcher gave me the inspiration to help keep you inspired. Now it's time to put that inspiration to good use. Take action, improve your money, and build your business. That's what Personal Profitability is all about.
Until next time, stay profitable.