Helping Others While Making Millions On YouTube And TikTok

Back in 2019, I remember being surprised at a survey by toy maker Lego that asked young adults what they wanted to be when they grew up. The top answer was YouTube creator!

Of the 3,000 children surveyed between the ages of 8 and 12 from the U.S., U.K., and China, a surprising 33% said they wanted to be a YouTuber, while only 11% dreamed of becoming an astronaut.

Kids’ Top Career Aspirations in the U.S. and U.K.:

1. Vlogger/YouTuber
2. Teacher
3. Professional athlete
4. Musician
5. Astronaut

The Rise of the Creator Economy

Another poll from YouGov in 2021 backed this up, showing that becoming a vlogger, YouTuber, or professional streamer was the top dream job for teens aged 13 to 17. Social media influencers and content creators have gained more trust from young people than any other group over the past few years, defying the skepticism many older generations have toward these unconventional careers.

Platforms like YouTube and TikTok are the most popular for influencer content, with YouTube appealing more to millennials and men and TikTok capturing the attention of Gen Z and women. Food and music content remain the top draws for these audiences.

From YouTube Skeptic to Believer

I initially rolled my eyes at the idea of wanting to be a YouTuber for a living. I imagine many people have the same reaction to blogging as a career too. “What are these non-serious professions?” some might think to themselves.

Growing up, the path to success was clear: study hard, get top grades and test scores, excel at extracurriculars, and maybe find a cure for malaria while you’re at it. If you managed all that, you might get into a top 50 university and land a well-paying, six-figure job.

That was my path, minus the curing malaria part and top SAT score, and it worked out well enough. After graduating from The College of William & Mary I worked 60-80 hours a week at Goldman Sachs in NYC for two years. Making only a $40,000 base salary while living in Manhattan was tight.

But after the pandemic arrived in 2020, my perspective shifted. With fewer ways to socialize the first year, I found myself consuming more YouTube and TikTok videos.

A Desire To Bypass The Gatekeepers

Then came the wake-up call. I saw several high-achieving Asian American students—kids who seemingly did everything right—get rejected from most of the universities they applied to. Despite the racial reckoning following George Floyd’s death, the struggles of Asian Americans weren’t part of the mainstream social justice conversation.

When the Harvard and UNC affirmative action lawsuit reached the Supreme Court, evidence revealed how Asian Americans needed significantly higher SAT scores than other racial groups to gain admission. What really stung was Harvard’s use of a subjective “personality score” to justify rejecting academically excellent Asian applicants.

As someone who also didn’t score close to the average SAT scores of admitted students from the top 25 schools, I feel there’s little-to-no hope for my Asian/Polynesian kids to get in. That’s why it’s crucial for them to find ways to bypass the gatekeepers and build a life of their own through their own merit.

Be More Creative And Entrepreneurial

I’ve accepted that getting ahead will be more difficult for kids today. The competition is simply too fierce. Hence, one way to counteract a tough world is to help my kids become millionaires before they leave home. This way, even if they do great in school and get rejected by every university, they’ll have enough money to hold them over until they find purposeful work.

In addition to doing manual labor and working minimum wage service jobs as a kid to earn money, another potentially profitable avenue is embracing the creator economy—specifically as a YouTuber or TikToker.

Anyone with a device and an internet connection can start uploading videos today. The key is to consistently produce interesting content to get through the initial phase where nothing seems to happen. There’s no need to be an academic to be a successful blogger.

Just like blogging, if you can create one to three videos a week for a year, I’m confident someone will take notice. The more people who notice, the better your chances of growing a channel and monetizing it. If you can create content for 10 years in a row, I’m convinced you can make a living as a content creator.

If the traditional path to success is closing, maybe it’s time to forge a new one.

A Conversation with Humphrey Yang, YouTuber and TikToker

As part of my research into creating video content, I had the chance to speak with Humphrey Yang, a personal finance content creator with over 1.6 million followers on YouTube and over 3.3 million followers on TikTok. Humphrey burst onto the scene in 2020 when COVID-19 began and has been growing steadily ever since.

In our conversation, Humphrey shared his background, how he got started, and the strategies that fueled his rapid growth. We also discussed what it takes to produce a single video, how much he earns per video, and his estimated net worth in his 30s. You can listen by clicking the play button below or listening on my Apple or Spotify channel.

The biggest takeaway from our conversation? The key to being a successful YouTuber or TikToker is to just start. As with any skill, the more you practice, the better you’ll get. Each new video builds your craft and your confidence.

In terms of how much you can make as a YouTuber? Millions. You can earn $10 – $40 per 10,000 downloads. Then you can partner with sponsors who can pay you to feature their products that you use or believe in.

Since Humphrey also lives in San Francisco, I’m looking forward to catching up with him over a meal one day. In the meantime, I invite you to check out our conversation and subscribe to his personal finance YouTube and TikTok channels!

Video Is Clearly the Future for Creators

I hope you enjoyed my conversation with Humphrey. It’s clear that video content on YouTube and TikTok will only continue to grow in popularity. These platforms have powerful search algorithms and monetization tools that can help content creators expand their reach much faster compared to running a standalone site like Financial Samurai.

I’m still debating whether to dive into creating video content or stick to writing and recording the occasional podcast. After writing since 2009, it’s hard to change my groove, and I prefer keeping a lower profile. I also want to embrace retirement more and not do more work.

That said, if I start experimenting with YouTube and TikTok now, I could build a foundation for my kids if they ever show an interest in becoming content creators five-to-ten years in the future. They could take over the channels I’ve built or start their own with some initial support.

I have no illusions that creating high-quality videos will be easy, but I think it’s worth a shot. For now, though, I need to focus on getting my latest book out before jumping into my next project. One step at a time!

Reader Questions And Suggestions

Readers, have you or your children considered becoming a YouTuber or TikToker to earn extra side income or even make it a full-time career?

If so, how has the journey been? If you’re a parent, how would you feel if your children became successful YouTubers or TikTokers? Do you think the profession has gained more acceptance and prestige compared to traditional fields like banking, medicine, consulting, technology, and law?

I’d love to hear your experiences and perspectives!

To expedite your journey to financial freedom, subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Everything is written based on firsthand experience and expertise.