4 ms·

For most people, an 18K monthly income ($216K annualized) that is passive is most definitely considered "being rich".

froo 17y ago
Except that given it could potentially end tomorrow, I am motivated to work on something different. Sure I have a comfortable position at the moment, but resting on my laurels could be a costly mistake. I am just using this breathing room to work on something that has more potential rather than having to hustle for income... basically forgoing short term gains for long term ones.
- run4yourlives 17y ago
  Fair enough, nothing wrong with that and I agree with your first comment too, just wanted to introduce perspective, because sometimes we all get caught up in where we are and forget that a lot of people are still where we were. :-)
  - froo 17y ago
    That's a fair point too. I often think of where I was a couple years ago (very broke) and it puts everything into perspective for me too.
GFischer 17y ago
Indeed. For me, 6 thousand monthly is "being rich". And so far, I have not been willing to do what it takes to get there (emigrate). I'm definitely a Category 2 guy so far :(
- ekanes 17y ago
  Why would you have to move? I'm guessing you're thinking along the lines of a funded startup, and access to capital and "deals" versus bootstrapping it yourself, but my guess is froo's startup is closer to the latter. When you bootstrap it, you call the shots and there's little reason you can't do just as well living wherever you are! Go for it.
  - GFischer 17y ago
    That's the second choice, and far more appealing (don't have to uproot). Reading HN does keep that option front and center! I'm still searching for what to sell - I have access to a relatively cheap and talented labor pool, and to some nice technology not used in the US (the Genexus codegen tool), but I don't know what niche I should target.
    - ekanes 17y ago
      It's easy to get hung up on finding "the right (perfect) idea", but the highest probability for a new business to succeed is to do something that is already being done by others, who are making a living at it. Add to it, change it, innovate on it, but start with something that's already a proven model in the world. In other words, pick something (a piece of software?) you care about, that others are making a living with, do a knock off of it and then innovate. People think the challenge is succeeding, but the more important challenge is starting at all.

froo 17y ago

Except that given it could potentially end tomorrow, I am motivated to work on something different. Sure I have a comfortable position at the moment, but resting on my laurels could be a costly mistake. I am just using this breathing room to work on something that has more potential rather than having to hustle for income... basically forgoing short term gains for long term ones.

run4yourlives 17y ago
Fair enough, nothing wrong with that and I agree with your first comment too, just wanted to introduce perspective, because sometimes we all get caught up in where we are and forget that a lot of people are still where we were. :-)
- froo 17y ago
  That's a fair point too. I often think of where I was a couple years ago (very broke) and it puts everything into perspective for me too.

GFischer 17y ago

Indeed. For me, 6 thousand monthly is "being rich". And so far, I have not been willing to do what it takes to get there (emigrate). I'm definitely a Category 2 guy so far :(

ekanes 17y ago
Why would you have to move? I'm guessing you're thinking along the lines of a funded startup, and access to capital and "deals" versus bootstrapping it yourself, but my guess is froo's startup is closer to the latter. When you bootstrap it, you call the shots and there's little reason you can't do just as well living wherever you are! Go for it.
- GFischer 17y ago
  That's the second choice, and far more appealing (don't have to uproot). Reading HN does keep that option front and center! I'm still searching for what to sell - I have access to a relatively cheap and talented labor pool, and to some nice technology not used in the US (the Genexus codegen tool), but I don't know what niche I should target.
  - ekanes 17y ago
    It's easy to get hung up on finding "the right (perfect) idea", but the highest probability for a new business to succeed is to do something that is already being done by others, who are making a living at it. Add to it, change it, innovate on it, but start with something that's already a proven model in the world. In other words, pick something (a piece of software?) you care about, that others are making a living with, do a knock off of it and then innovate. People think the challenge is succeeding, but the more important challenge is starting at all.