Are big content creators going broke?

Are big content creators going broke?

I have been a content creator since 2012.  I have seen a lot of people come and go.  Doing YouTube or being on any other social media platform takes work.  It is definitely not easy that's for sure.   Some people automatically think that if you have big numbers you are making a lot of money.

I am a small YouTuber and I enjoy creating and making content for other people to enjoy.  There are a lot of big YouTubers who are struggling but they try to look like they are rich. They are afraid to show their real life because they are afraid of the backlash that they may face.  

Many of them move from place to place, and they come up with excuses to try to cover or justify why they move so much.   The truth is they are totally broke.  

Big content creators get a lot of perks.  They get to represent some great products and they even get a chance to travel to some beautiful places.  They get to receive beautiful clothes and products to review.  

But the dark side of this equation is the fact that you may be making a lot of money today but next month you may make a different amount of money.  This creator economy is not very stable.  Some creators don't even consider the fact that they have to pay taxes on the money and the perks that they receive.

It seems like tax time comes around so fast and if you are not prepared, you will feel like you are drowning.  You have to save all of your receipts and get your taxes prepared because if you do not you will owe a lot of money.   I think that a lot of content creators should get a regular job and do content creation on the side.  It definitely is not a free ride like some people assume that it is.  They could even start a business that isn't connected to their social media platforms. 

We live in a society that feels like they want everything right now.  Some of us refuse to save money.  Saving money towards your taxes and also having a rainy day fund is a good idea. 

 The ad revenue has been down and it is affecting so many people.  It affected me.  This made me realize that you cannot put all of your eggs in one basket.  I make sure that I pay my taxes and people who have a steady income have to make quarterly payments to their taxes. 

There are so many people very nervous this time of year because they haven't made any plans to save money toward their taxes.  They spend everything that they get.  Being a big content creator can be glamorous but you have to use it to your advantage to make your money grow. 

 I would also tell wealthy content creators to save money for their future because social media as we know it will not be the same twenty years from now.  There will be something bigger and better than we know right now. 

Big content creators are going broke because our expectations of them are so high.  They have to live up to an image that most of the time isn't even real.  This can lead to depression. 

 Taking investment courses would be the best course of action to protect your income and your future.   Being a big content creator can be a nice way to make an income but secure your future and make smarter choices and it will really pay off in the end.