4 ms·
Great question. I think more passive income is required for food etc. eg. my rule of thumb $1,000 invested will bring in about $1-2 per week; or, some businesse
by 10ren 16y ago
Great question. I think more passive income is required for food etc. eg. my rule of thumb $1,000 invested will bring in about $1-2 per week; or, some businesses you own can (theoretically) provide passive income, but in practice it's not totally passive (1 hour per day is quite reasonable though.) But both sources will require more work to setup in the first place, to create the "asset". Another option is part-time consulting work; if you charge $100 per hour, that's $500 per week. Of course, you probably can't get that literally one hour per day; it would be bursty: (say) full-time for a few weeks, then don't work for a year. That's a popular hacker route. But again, you'd have some setup cost, in having the technical skills (and keeping them up to date) + (more importantly) having the business skills to keep getting the work, year after year (and the social temperament.) It's sounding more reliable to work for a whole year, and invest that.
Though my personal experience is that I really missed being productive for other people, and have decided to expend effort doing useful things for others (create the value that I want to create, on my own timetable and terms - largely an intersection of benefiting both others and myself.) It took me 2-3 years of not working to come to that decision, and it seems typical of people who retire. But even knowing that, I still had to see for myself. I expect you too. Of course, it's quite possible to just do that in the first place (I didn't.)
- mman 16y agoMy contribution would be my research, if it ends up being any good. But i don't want to be a slave to researching just so i can receive funding and continue my studies, I want to be self-sufficient and research exactly what i feel like, independent of others.