Where are the wealthy bloggers?
If you’re reading this, you most likely are aware of the growing community of Personal Finance bloggers. Most of us are struggling to make ends meet and that is part of our theme. We blog about the struggles in hopes of learning something new and helping others in the same situation.
But the question I would ask is, Where are the wealthy bloggers? Where are the self-made millionaires that are blogging about personal finance and how they did it?
My guess is that there are none as yet. A majority of the wealthy that are out there now, at least self made wealthy that didn’t get lucky, are quite a bit older than the median age of blogger(mid twenties if your interested) and really just don’t get the whole blogging thing.
So, if you’re reading this and you’re a self-made wealthy person. I’d like to offer you the chance to guest post here at A Penny Saved… It doesn’t have to be any more than one article if you don’t want it to. There won’t be any pay involved. If you do it and like it, we can discuss getting you set up with your own blog and you can write until you’re blue in the face if you like. It can be completely anonymous if you like as well.
Any takers?
Click on Contact to drop me a line.
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Personal Finance Blogger said,
Wrote on October 18, 2006 @ 11:33 am
Define wealthy…
Compared to a lot of people my wife and I are wealthy, compared to where we want to be, we’re not.
thatedeguy said,
Wrote on October 18, 2006 @ 11:36 am
I suppose you are right. It does depend on how you define “wealthy.” To me, wealthy means million plus net worth. Those on the borderline of not really having to work ever again.
Although, for my little challenge, I’d be happy to take people who could easily not work for 6 months or more and not feel the sting too badly.
Ken said,
Wrote on October 18, 2006 @ 7:12 pm
I find your question here very interesting because I honestly feel that saving money is not the way to get wealthy. I wonder if that is why you say that ‘most of us are struggling’. I had a post about the under 30 club in which I stated that this club is missing a key demographic because it is limited to under 30 people. What you are really in need of is for people in their low 30’s to tell you how they have made it and what mistakes they have made. There’s no sense in having a bunch of under 30 year olds making the same mistakes because they are all at the same stage in life. It’s like going to a school with no teachers. The students are teaching each other.
If you begin reading the blogs of active investors or businessmen, I think you will see totally different topics that are focused on making money, not saving it.
thatedeguy said,
Wrote on October 18, 2006 @ 7:31 pm
To some extent, I think that you’re right, Ken. I do think however that the under 30 people massing together is a good thing. It’s ever important to have a peer group that you can compare and share with. Many of us do actively read the blogs of active investors and businessmen. What I’m truly looking for are the people with even more experience than that who are willing to share with those of us who haven’t been there.
Also, Last time I checked it was awfully hard to make money without saving a little first.
prlinkbiz (aka wealthy blogger) said,
Wrote on October 18, 2006 @ 8:22 pm
You probably won’t find many wealthy people reading A Penny Saved Blog (no offense). I am financially free, working to have a million in passive income. I find that my views are geared not just towards saving, but toward growth and high leverage investments- something most people are afraid of or don’t want to hear about. But it’s how we got and are getting wealtier everyday. Saving is only one part.
Empty Spaces said,
Wrote on October 18, 2006 @ 10:44 pm
i didn’t know franklin said a penny saved is a penny earned.
I always thought it was Scrooge Mcduck!!! see what happens when you grow up in a foreign country and spend your youth reading comics!!
Golbguru said,
Wrote on October 18, 2006 @ 10:52 pm
I guess the wealthy ones don’t have enough time to blog after putting it all in managing their money.
Unless, you find someone who is really really wealthy and would rather blog than spend that time into making more money.
Am I A Wealthy Blogger? said,
Wrote on October 19, 2006 @ 2:31 am
Pardon my anonymity.
I blog and my wife and I, in our late-20s, are reasonably close to our first self-made million.
I would consider us “successful”, though certainly not wealthy. I have a few thoughts on why you don’t see more high net-worth bloggers (or perhaps bloggers who talk about their success).
1. High net-worth people have more to lose. I used to track our net worth on networthiq, until I got some sketchy emails from some crank who looked up my home address. If our net worth were $5000, I wouldn’t have been worried. But I don’t want to be the target of somebody looking to find someone to sue.
2. I’ve found the PF blogging community in general to be more concerned with PF as a hobby than getting wealthy. It’s full of people who spend time pursuing an extra half-point interest in an online savings account or a $15 referral fee rather than doing some common sense stuff to accumulate wealth.
3. The PF bloggers seem to “circle their wagons” with a small group of blogs, and IMO that results in bloggers preaching to the choir, rather than being open to some interesting ideas.
4. Accumulating wealth isn’t hard. It doesn’t make for an interesting blog. One can post ad nauseum on optimizing savings strategies, but the key to accumulating wealth is to focus more on the accumulation and less on getting an extra $4 per year in interest.
5. Many high net-worth people are older and aren’t into blogging. Someone mentioned that in another comment, and I suspect it’s likely true.
Having said all that, you have my email address and if you’re interested in me writing a column (anonymously) let me know.
thatedeguy said,
Wrote on October 19, 2006 @ 9:23 am
Thanks to all of you for you for your comments. I think part of the misconception of us younger folk is that all we’re about is saving. Frankly, for some of us, that’s all we know. We would love to know more, but because of the lack of wealthy bloggers, we have no one to really learn from. And the mainstream media outlets are usually vague as usual.
rags2riches said,
Wrote on October 19, 2006 @ 10:39 am
I’ve found quite a few wealthy bloggers out there. BTW I don’t think > $1M is wealthy. If you’ve seen recent stories regarding US reaching 300M population, the average household net worth in US is almost $500K now. $1M is just not what it was even 10 yrs ago.
I think most young, self-made, wealthy people made their money from windfall stock profits. Because that’s where the money’s been made for the last 15 years. Money’s been made in real estate too, but I think the typical real estate investor is a few years older, because it takes some capital to make money in real estate.
There’s no secret to making windfall stock profits. Just pick the right company, and become an employee. The average kid at a small-time operation like YouTube made $5-$10M for two years of work. Google created thousands of millionaires.
Going the “build your own business” route is harder than working for someone else. It needs experience, a sense for business, good people skills, risk taking, hard work, and ability to bounce back from mistakes. I think it takes a lot of years to develop all those attributes.
Forty Cents said,
Wrote on October 19, 2006 @ 11:23 am
I’m good at saving. I think that saving is good, but you need to turn that saved money into income in order for it to benefit you. If you just spend that saved money on something else, you’ll be stuck in the cycle.
knuckle_headed said,
Wrote on October 19, 2006 @ 12:42 pm
Saving 15% of your income and earning 10% on that that will NOT make you wealthy… WAKE THE EFF UP!
thatedeguy said,
Wrote on October 19, 2006 @ 1:04 pm
Thank you for your very insightful comment Knuckle_headed.
Flexo said,
Wrote on October 19, 2006 @ 4:28 pm
Whether saving or not is the way to get wealthy, it has little to do with thatedeguy’s question. Truly wealthy people — not people who just want others to think they’re wealthy — are simply doing things other than blogging. Bill Gates, Warren Buffett, George Soros, Dick Cheney, etc. don’t blog. Actually George Soros did blog, but he wasn’t blogging about money. The truly wealthy, when they write, write about their philanthropies or causes that they champion. They have little time for blogging.
moominoid said,
Wrote on October 19, 2006 @ 6:46 pm
See these:
http://stealthbucks.blogspot.com/
http://uhnwi.livejournal.com/
http://www.rags2richesfinancial.blogspot.com/
Most wealthy bloggers write about investing and trading rather than the kind of personal finance issues most twenty somethings are interested in. There are huge amounts of those blogs out there. Contact me if you want some suggested reading.
knuckle_headed said,
Wrote on October 20, 2006 @ 7:40 am
I find that these pf blogs spend too much time concentrating on the wrong thing - saving. If you put that effort into investing, you’d be far ahead. The benefits you get from saving a bit more here and there, when already frugal, are marginal. Why don’t you concentrate more on how to grow income? I don’t read pf blogs regularly, but do read http://www.afterreadingrichdadpoordad.com because it talks more about making real money, not cutting cents.
NLG said,
Wrote on October 20, 2006 @ 10:30 am
That’s why these are “Personal Fincance” blogs. They are not “Real Estate Investing”, or “Stock Market Investing”, or “How to Make a Million” blogs.
NG
knuckle_headed said,
Wrote on October 20, 2006 @ 12:18 pm
I see - investments are not included in “personal finance”. These types of blogs (not necessarily this one, I’ve never read it) should be renamed “spend thrift” blogs.
This post was asking where the wealthy bloggers were. So I’m telling you… not here bc they aren’t concerned about spending $3 on Silk Chai Tea.