7-Step Process for Viral YouTube Ideas

Treyton DeVore
May 7, 2022


Creator Crumbs

Business: How Josh Spector Earns $48,000/year from Newsletter Ads [Article]

Josh writes one of my favorite newsletters and he's gathered over 18,000 subscribers since first launching in 2016.

While he didn't plan to monetize his newsletter from day one, it's proven to be an effective way to create income without feeling "spammy".

By being thoughtful about what kind of ads would help your audience - and by having a defined audience - you can create a win-win-win scenario for you, your readers, and your sponsors.

"What he does is so simple . . it totally flipped everything I thought when it comes to monetizing via ads"

Money: The Billion Dollar Creator [Article]

Emily Weiss was a fashion assistant at Vogue when she launched a blog named "Into The Gloss" in 2010.

Eight years later, that blog has evolved into fashion brand Glossier and is now worth over $1 billion.

Nathan Barry, founder of the email tool that I'm using to write this newsletter, is currently on his journey to becoming a billion dollar creator and has laid out 4 rules for building a billion dollar audience:

Rule 1) Build more than a personal brand

Rule 2) Sell products, not attention

Rule 3) Drive higher customer value through recurring or repeat purchases

Rule 4) Choose a better business model

This is one of the most in-depth, well-written articles I've read about the business of being a creator - highly recommend checking it out.


Free Financial Advice*

Question of the Week:

What should I do with my 401(k) now that I quit my job?

First, congrats πŸŽ‰

Second, you have a few options:

Option #1 - Leave it where it is

If you're leaving your job and you have more than $5,000 in the 401(k), you can leave it where it is and the account will stay invested and continue to grow.

Here are a few scenarios of what may happen with your existing account depending on the balance:

  • If you have less an $1,000, your old employer will most likely sell your investments and send you a check for the dollar amount
  • If you have between $1-5,000 and they won't let you leave it, they must help set up an IRA to transfer the funds to
  • If you have more than $5,000 invested in your 401(k), most plans allow you to leave the existing account at your old employer

But overall, if you're leaving your job and your 401(k) is invested in good, low-cost funds, it's generally okay to leave it.

Option #2 - Roll it over

However, if the 401(k) is invested in high-cost funds or you're not a fan of the limited investment options, it may make sense to roll it over to a Solo 401(k) - which you would need to set up after becoming self-employed - or into an IRA.

An important note: If rolling over your old 401(k), you have 60 days from the time the old plan releases your funds for them to be deposited into the new 401(k) or IRA. If not completed within 60 days, you may get hit with fees and/or penalties.

When transferring and rolling over funds, be sure to frequently check in on the status to ensure that deadlines are being met and the funds are being transferred correctly.​

Option #3) Cash out and reinvest

If you don't want to invest the money for retirement, the least prudent option is to simply cash out and keep the money.

I'll admit, this is what I did when I left my last job πŸ€·πŸ»β€β™‚οΈ

But rather than keep the money and spend it on unnecessary things, I kept the money and reinvested back into my business.

I didn't want to put the money into an account I couldn't touch for 40 years, so I used the little bit I did have to put towards building Piertree. For entrepreneurial-minded people, I'll be the first to tell you that investing in your business can be the best investment you make throughout your life.

It can provide higher returns than a retirement account, but it also comes with much more risk.

However, if you're leaving your job to start a business, just know that you can use funds from your existing 401(k) but you'll most likely have to pay income tax on the funds as well as a 10% penalty.

So in summary, when you're leaving a job and have an existing 401(k) you can either:

  • Leave it at your old employer
  • Roll it over
  • Cash out and use money as desired (with a 10% penalty and taxes due)

❓ Have a question about money or business? Submit it here!


..more crumbs

πŸ’° How to be an effective CEO

πŸš€ How to build an audience on Reddit h/t MarketerCrew​

πŸ€” When to raise your freelance rates by Alice LemΓ©e

πŸ–₯ 12 can't-live-without websites for writers

πŸ’° Bhad Bhabie brings in $42 million from OnlyFans

πŸ“² TikTok launches revenue sharing ad product

πŸ“ˆ Paddy Galloway's 7-step process for viral YouTube ideas

Freelance Finds: 40+ pieces of advice on "how to know when it's time to end things with a client" via @camieee

​Source - @ash_lmb​


Keep creating,​

Treyton DeVore



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