A 22-year-old female entrepreneur has triggered people on Twitter after claiming that she earns up to $30,000 a month by running an online business from her New York City apartment.
The unidentified entrepreneur revealed her story in Refinery29’s “Money Diaries,” a series that follows the spending habits of various working women in a week.
According to the entrepreneur, she earns somewhere between $300,000 and $360,000 annually. However, she made more than $600,000 in revenue so far this year.
Her average income translates to a monthly gain of $25,000 to $30,000, but she gets payouts every business day.
Every month, the entrepreneur spends $1,207 for rent (with two roommates), $175 for Wifi and utilities, $70 for cell phone, $52 for building amenities, $7.99 for Netflix and an undisclosed amount for her undergraduate loan payment.
“My parents generously covered my undergrad education,” she tells Refinery29. “I will be going to graduate school next year, and I will cover all costs.”
How the entrepreneur exactly achieves her massive profits is unclear, but she claims to be a handbag designer whose items are manufactured in China and shipped worldwide from Hong Kong.
“I spend the morning answering emails, brainstorming new designs and coordinating with my fulfillment center,” she says at 7 AM on the second day. “I’m in the middle of switching fulfillment partners for my e-commerce store, and it’s a bit of a logistical nightmare.”
Currently, my items are manufactured in China, and shipped all over the world from a center in Hong Kong. I’m transitioning to more local fulfillment (and faster shipping for my customers) by dividing inventory between fulfillment centers. It’s a bit of a risky move, but I know it’s a necessary step to scale my business.”
By the end of the week, the entrepreneur records a total spend of $1,732.15 — close enough to equal the monthly income of someone making $25,000 a year.
She claims to save up to $20,000 a month in an apparent early preparation for retirement.
“I try to put away as much as I can at the end of each month in a high-yield savings account — usually around $20,000,” she shares. “I transfer money from my checking account to savings daily, so I never feel too flush and accidentally buy a Chanel bag. I recently opened a brokerage account, and am looking into individual retirement accounts, but still need to do more research.”
The entrepreneur’s story has drawn mixed reactions among readers on Twitter.
Many had their own questions and speculations.
However, some came to the entrepreneur’s defense, praising her achievement and the infinite possibilities on the internet.
Many people might not know this, but NextShark is a small media startup that runs on no outside funding or loans, and with no paywalls or subscription fees, we rely on help from our community and readers like you.
Everything you see today is built by Asians, for Asians to help amplify our voices globally and support each other. However, we still face many difficulties in our industry because of our commitment to accessible and informational Asian news coverage.
We hope you consider making a contribution to NextShark so we can continue to provide you quality journalism that informs, educates, and inspires the Asian community. Even a $1 contribution goes a long way. Thank you for supporting NextShark and our community.