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Wrote a book, published nine years ago. I earned back my advance after about five years and have been receiving royalty checks ever since. This year, it surpassed 100,000 copies sold. Just a little note for other would-be authors ... it's never been easier to self-publish -- but getting a book deal with a traditional publisher still has substantial upsides, particularly on the distribution side. There are exceptions…
what kind of book?
Wrote a book, published nine years ago. I earned back my advance after about five years and have been receiving royalty checks ever since. This year, it surpassed 100,000 copies sold. Just a little note for other would-be authors ... it's never been easier to self-publish -- but getting a book deal with a traditional publisher still has substantial upsides, particularly on the distribution side. There are exceptions…
what kind of book?
Earlier quoted context omitted.
what kind of book?
Details are in my bio, but it's a pop-science book for new parents. It got a big publicity boost when Parents magazine ran excerpts, and a gigantic publicity boost when "The Big Bang Theory" wrote an episode where my book was a central plot element.
On the side I sell budget star tracking astrophotography mounts I designed and build in my basement. I also do a few consulting gigs each year. These efforts combined bring in an extra ~25k annually. My plan is to develop two more space-related products, hire a tech, and transition to more of an oversight and design role rather than the one guy running the whole thing.
For the record I don't think most people should do this, it is not a balanced life to work this much, generally speaking. But for me it's a worthy discomfort to relieve financial pressures from student debt and being the only breadwinner of a young family. Plus it's fun stuff, I get to design cool products which is what I do for fun anyway, I just usually stop at the level of prototype when it's just for me. ;)
Got a job and then married someone who also has a job. We go to work, make our money, come home and relax.
Being able to go work everyday and exchange labor for money. When the pay/shit factor starts going in the wrong direction, getting another job. When the company disappears from under me, calling people in my network and finding someplace else that will give me money for my skillset and experience. There is way too much emphasis on trying to find a “side hustle” and starting a company when the best statistical path fo…
Got a job and then married someone who also has a job. We go to work, make our money, come home and relax.
For a side hustle, we bought a home around 2015 for $125k. We've paid off about $70k of the 2.8% 15-year mortgage and property taxes at $1100/mo, it's now estimated to be worth about $330k. That represents an income stream equivalent to about $2200/mo due to that asset's value rising at about 15% per year. If it wasn't for the fact that I live here, I'd be divesting a lot of my investment in that obvious bubble ASAP. Similarly, my parents built my childhood home nearby in '96 for about $80k, their property is now worth about $750k, you do the math.
I made about $10,000 over a few years on Fiverr doing voiceover work. Then the algorithm changed and poof, no more orders, ever again.