Welcome to the 4th weekly installment of my series on Steemit income and growth!
Income on Steemit is generated both by "investment" (the more Steem you have, the more you earn) and by "work" (contributing content that adds value earns you Steem). Already having invested my savings in Steem, I plan to "work" by uploading unique valuable content to the blockchain. My goal is to increase my average weekly income to 15 Steem.
What is my weekly income now?
Considering Steem (and income) from all accounts that I own, and that my wife MediKatie owns, and accounts started as group projects with my funds (currently @drutter, @medikatie, @greatesteem, @hempy, and @girlsofgreen), here is the updated running tally:
Week 1 - 0840 (+ ? ) Steem (+?%)
Week 2 - 0848 (+ 8 ) Steem (+0.95%)
Week 3 - 0862 (+14) Steem (+1.65%)
Week 4 - 0868 (+ 6 ) Steem (+0.70%)
Average income = (+8+14+6)/3 = +9.3 Steem per week = +1.1% per week
We're getting a better picture as more data come in. Week 3 was atypical as noted before (several big posts paid out at the same time). This past week (4) was a little slower than normal, probably about as low as I would expect in the future. Growth of 0.8 to 1.0% per week might be typical - we'll know in a few more weeks!
At 0.9% growth per week, I'd hit my goal of 15 Steem per week in 73 weeks (1 year, 5 months).
At 1.0% weekly growth, I'd hit my goal in only 55 weeks.
At 1.1%, in about 9 months!
I believe anyone investing some capital and a year of full-time work on a project can expect to be compensated. In this example, I'll be drawing about 50 Steem per month as income. In a year, if Steem is about $4 each, I'll be making about $200 per month. It isn't a lot in terms of money, but I'd be doing what I love, and though slowly, my account would continue to grow. That's what I call "Steemit rich".
When will YOU be Steemit rich?
Have you collected some of your own data and run your numbers? I'd be interested to hear your results! If you need help with the calculations, I'd be glad to.
Until next week's update.... Steem on!