I was watching a video of a very prominent Finfluencer on YouTube and he said that generating 1 CR in 3 years is very much attainable if you work hard. Now let's go through the math 1Cr or $119K in 3 years, that means 33 Lakhs or $39K in 1 year, 2.75 Lakh in 1 month or $3250 in 1 month. And it comes down to Rs 10K or $120 in one day.
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In India, earning 10K per day is quite hard, but might be in richer countries it can be possible. Since the finfluencer was from India, let's take example of Indians only. His theory was that if you work hard I.e. if you do the same thing for 10K hours, which is roughly 4 years than you will be master of that task.
Now if you learn art of making money and do the same thing for 10K hours, then you can make your 1st CR. This is mainly true for people who are in the content creation industries where they have earned quite big in last 3 to 4 years more than 1 Cr. But as a regular salary class, creating passive income which can pay that much is quite rare. You have to have money with you to create thar passive income which can push you to earn that 1 Cr.
So if I have to do fresh start, and take Hive as an example, then mostly people earn here from $1 to $10 everyday, which is quite low. Now just like Hive if you have 10 such passive income sources which can give you $10 then you can earn $100 easily per day.
Now that is hard to get, not everyone earns money like that. For example, running a successful blog can give you good money but making that blog successful only will take a lot of your time. So earning $10 from it everyday from the day 1 is quite a big task. But if you work hard for 2 years and create that base, then the third year can make enourmous amount of money for you. It's just that you have to really work hard for it.
So I am not denying the fact that you cannot earn 1Cr in 2 years. But only 1 person out of 100 can do that possible. So if you want to become that 1, then you have to work hard for it and start working towards your goal.
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The main issue with Hive I see is the content is dead after 7 days. On the other platform or media the content keeps generating revenue even after year.
But I understand the system is designed keeping certain measures against the abuse. But still if there is some ad revenues in Hive or something of that sort based on view.
Then it would be a super awesome source of passive income.
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I echo what @inuke has said. Articles on Hive down generate any income after 7 days. Maybe content writing outside high for any high quality requirement can pay close to 20 dollars per hour.
These days there are a few high skill based jobs available that can pay 30$ per hour. If that happens and if the income is regular, people can easily make 120$ in 4 hours a day. So even with a full time job as backup, it should be possible but as you said it has to be very hard work.
Basically be a machine for couple of years and convert that effort into money. But the trade off being health, peace of mind.
Doable but I am not sure if its a healthy approach.
My reference is my friend who is 34 but looks 60. He has the stock portfolio for him and he is ready for retirement financially and health wise.
Yeah sometimes we might have to compromise on the health for money. But if we can heal back and have a better standard of life at a later part, then why not take that effort when we have the health and when we are young enough.