31–40 of 150 posts
A stock portfolio that I've built through consulting profits is my main passive income source. Anything else is not really "passive." This probably isn't the answer you're looking for, but in my view the average developer is much better off simply selling their time at the maximum rate and funneling the profits into a well-managed portfolio. The median outcome for this is much better than the story on most passive-in…
I consider it a high success because for the amount of marketing I've done in the last 2 years (exactly zero), it still has paying users. If I did a few months of code improvements and marketing pushes I could probably increase that income a few times.
I've got a savings account. Interest on that baby is getting me upwards of 30 cents a month.
Savings accounts are a terrible place to put your savings.
If you have anything more than a couple thousand dollars, you can put it in a mutual fund and see several percent return on average, versus the fraction of the percent you can get from a savings account.
In certain situations savings accounts can be advantageous—They are very low-risk and the money is immediately available. But for a long-term investment, almost anything is better than a savings account.
I run https://www.goread.io/ which is a subscription-based RSS reader. It's open source and runs on google app engine. It costs ~$2k per year to run and I make between $2k and $3k profit per year for nearly zero effort. Stripe handles payments and app engine keeps the servers running. I consider it a high success because for the amount of marketing I've done in the last 2 years (exactly zero), it still has paying use…
I run https://www.goread.io/ which is a subscription-based RSS reader. It's open source and runs on google app engine. It costs ~$2k per year to run and I make between $2k and $3k profit per year for nearly zero effort. Stripe handles payments and app engine keeps the servers running. I consider it a high success because for the amount of marketing I've done in the last 2 years (exactly zero), it still has paying use…
I'm asking because I did some side-gigs in the past and I always end up having a product ( aff.links ) that pays the server and some pennies above, but if I count the time lost on developing it, I will be on severe loss for decades.
A stock portfolio that I've built through consulting profits is my main passive income source. Anything else is not really "passive." This probably isn't the answer you're looking for, but in my view the average developer is much better off simply selling their time at the maximum rate and funneling the profits into a well-managed portfolio. The median outcome for this is much better than the story on most passive-in…
Thanks for the reality check. I currently follow exactly this strategy. It's not the perkiest way of living, but it's actually pretty good considering what most people have to do to make ends meet.
Still, passive income strategies make me curious. We devs are in the luxurious position to be able to tweak our income-per-hour situation like mostly no human ever could. I think it's not a sign of gluttony to aim for more but actually a sign of appreciation of the situation luck has handed us. We are one of the few people on earth who can get richer by refusing to work. Not only richer in a metaphysical way but in actual cash.
I run https://www.goread.io/ which is a subscription-based RSS reader. It's open source and runs on google app engine. It costs ~$2k per year to run and I make between $2k and $3k profit per year for nearly zero effort. Stripe handles payments and app engine keeps the servers running. I consider it a high success because for the amount of marketing I've done in the last 2 years (exactly zero), it still has paying use…
25% TSX (Canadian market)
25% S&P500 (US market)
25% MSCI EAFE (Developed market excluding Canada/US)
25% Fixed Income - cash,bonds,'high' interest savings account, etc.
Works for me...also planning to get a rental property at some point.