from strength to strength - I grew by 3% last week!

in #news6 years ago

Welcome to the 7th 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" (earning Steem by contributing content that adds value). Already having invested my savings in Steem, I'm now "working" by uploading unique valuable content to the blockchain. My goal is to increase my average weekly income to 15 Steem.

Calculating weekly income

Considering income from all accounts that I own, and that my wife 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%)
Week 5 - 0876 (+ 8 ) Steem (+0.92%)
Week 6 - 0888 (+12) Steem (+1.37%)
Week 7 - 0914 (+26) Steem (+2.93%)

Average income = +12.3 Steem per week = +1.45% per week

I grew by almost 3% this week! Before hoping too much that this is the "new normal", I have to remember it wasn't a typical week. There was about 1 Steem counted this week which I actually won in a contest the week before. GirlsofGreen is getting a 50 Steem delegation from an unknown account, which ends up helping the team indirectly, but may disappear at any time. Additionally, we got a few large upvotes recently from @DLive for posting some good videos over there. Those votes paid out this week, giving us a swollen nominal growth of 26 Steem.

But on the other hand...

I'm optimistic that I can maintain my post quality. Obviously not every week can be a 3% week, but it's possible to do that well, or better. I originally thought a 1% weekly growth was optimistic, but now that looks more on the low side.

Even at the 'low' rate of 1% weekly growth, I would reach my goal in under a year.
If the average weekly growth levels off at 1.25%, I'd get there in about 5 months!
If I were to somehow maintain 1.4% growth, I'd make it in 11 weeks.

my purpose.png

My guess is it's somewhere between 1.0% and 1.3% weekly, but the only way to find out, is MORE DATA! See you soon for Week 8.

Anyone investing some capital and a year of full-time work on a project can expect to be compensated. When I hit my goal, if Steem is $4.25 like it is today, I'll be drawing about $212 (50 Steem) per month as income. 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".

What's your financial goal on Steemit? Have you calculated how soon you'll get there?

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I’m looking at steem as a long term investment. Maybe college for my kids? Maybe a rainy day fund? Who knows, definitely will stick it out for the long run.

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