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For me, $5k/month won't be able to do it. It's good enough if it's a salary, but a job also includes other things such as health insurance, 401K, and intangible
by AznHisoka 15y ago
For me, $5k/month won't be able to do it. It's good enough if it's a salary, but a job also includes other things such as health insurance, 401K, and intangibles such as social contact with other human beings. So for me, the amount would have to 3 times my normal annual salary.
I currently make $7K a month with 10 minutes of work a month (creating a newsletter), so I agree - the path to residual income is much easier than creating a startup. But it definitely doesn't feel like I can quit my job anytime.
- matt1 15y agoYep, the figure is going to vary person to person. For example, I'm married and my wife brings in an income and will be able to provide health insurance once I jump ship, so that number is lower for me than it would be for someone without that additional income. My point though is that for every person there is a monthly mostly-passive income which, if achieved, would let them live a similar lifestyle as being part of a multimillion dollar acquisition. And it's a hell of a lot easier to reach. Do you think it's easier for you to make $5K/month passively or make $5M from a acquisition? $10K? $20K? Edited to add: Why not invest more time into your newsletter so that you can leave your job? If you truly invest 10 minutes per month and believe that there's still room for growth, why not spend more time getting it to the point where it does cover your health insurance and 401K? Or if there's minimal room for growth why not try to replicate it? Or does the money not even matter: do you want to stay with your day job because it gives you purpose and socialization? Your situation is fascinating and I'd love to hear more about how you got to where you are.
- AznHisoka 15y agoI got > 90% of the subscribers from SEO over the course of 2 years. The growth rate of those subscribers has dwindled ever since my sites got punished by Google Panda. For those curious, the newsletter has to do with a very niche product that people usually order every single month. I'm simply an affiliate and write a newsletter with tips for that product along with a coupon code. The affiliate program is pretty friendly as I get paid a commission every month even if I don't get them a new customer (but get an existing customer to order it through my link).
- josscrowcroft 15y agoNice. What's the story there, if I may ask?
- ed209 15y agodid I read it right that you spend 10 minutes making a newsletter every month and get $7k for doing it?
- tehayj 15y agoThis works once you have created your own list. I do something similar. There is not only the programmers way but also the marketers way.