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How are you making money on here?
I charge users 5 bucks a month to host unlimited matches (just 1 person out of 10 pays). I could charge more, but since I don't have the overhead of a large company, I can get by with less and my users get an extremely affordable product.
My company is ran similarly; though I never raised VC and bootstrapped my way to profitability over 5 years as a solo founder. I provide a simple platform for people to play their friends on high quality CS:GO servers, while keeping track of their stats/wins/losses. https://popflash.site If you have played a lot of Counterstrike, have real-world technical skills, and are interested in a flexible autonomous environmen…
Just wanted to say my friends and I had a fantastic time using Popflash 4-5 years ago to organize our ten mans. Thank you!
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You can also live just fine off that amount in most American cities. $40k is basically $2,500 / mo after tax. In the Atlanta area for example, there are plenty of nice 2-3 bedroom houses for $200,000 or even less, which puts your mortgage at $1,000 / mo. That leaves $1,500 / mo for a car, utilities, and food, which is plenty doable. Rent out a room if you want to for more income.
How does this work if you have kids that will be going to college when you’re ~50? That is, how do you know at 40 how much you’ll want to spend on your children’s college education?
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As long as I can Bill my hours, I don't care all that much. I find smaller or more experimental companies to be much more unstable, and in my thirties I just want something stable and nice so I can save money and retire with a bit over a million in the bank at 40. Just want to be done with it
If you retire at forty with a million in the bank, how do you make it if you live till 80?
Anecdotally and ironically, many tech people that do this end up making a loads of money after they "retire". They don't sit on a beach and do nothing. The ability to be highly selective about what they work on, and to defer any compensation, often leads them to invest all their time on software projects they are passionate about, which not infrequently ends up throwing off a large amount of incidental income even though that wasn't the objective per se. I like the term "recreationally employed" to describe this lifestyle. I know many engineers who ended here and some of them make more money "retired" than they did work the 9-to-5 grind at a big company.
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There is an idea called FIRE (Financial Independence / Retire Early). The first half is having enough money to not need to earn again, so you are not dependent on work or others. Once this is achieved, then you can retire early if you would like. The conventional wisdom in this community is that if you invest a sum of money in equities, you can withdraw a certain percentage annually without ever running out of money.…
I'm pretty well versed in the whole FIRE thing, and find myself more or less on that path. One conclusion I've come to is that after people "retire early", they almost never actually stop making money. It just tends to end up being more entrepreneurial stuff that they make money off. You don't "have to" work, but you "might as well", and all the sudden you may even find yourself in a more lucrative gig than you start…
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Move to a country where I can live off the 40k -> 60k a year an interest or whatnot. This basically means either Southeast Asia, or some parts of Latin America. Asian languages tend to be extremely hard, and it might be a lot easier to sort of blend in with the populace in Latin America. The last thing I want to do in my retirement is draw needless attention to myself.
> Move to a country where I can live off the 40k -> 60k a year an interest or whatnot. You realize the median US household income is like $40k/ year right?
The median American household doesn't have all this luxuries.
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If you retire at forty with a million in the bank, how do you make it if you live till 80?
Move to a country where I can live off the 40k -> 60k a year an interest or whatnot. This basically means either Southeast Asia, or some parts of Latin America. Asian languages tend to be extremely hard, and it might be a lot easier to sort of blend in with the populace in Latin America. The last thing I want to do in my retirement is draw needless attention to myself.
If you want to get sucked into every ad campaign that comes along, you'll end up broke even if you get a huge windfall. Which is in fact exactly what happens to many lottery winners, sports stars, musicians, child actors...
We do! (and are hiring; although we are tiny!) https://datascienceretreat.com/
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You can also live just fine off that amount in most American cities. $40k is basically $2,500 / mo after tax. In the Atlanta area for example, there are plenty of nice 2-3 bedroom houses for $200,000 or even less, which puts your mortgage at $1,000 / mo. That leaves $1,500 / mo for a car, utilities, and food, which is plenty doable. Rent out a room if you want to for more income.
How does this work if you have kids that will be going to college when you’re ~50? That is, how do you know at 40 how much you’ll want to spend on your children’s college education?
It's hard to figure how much to save for kids college, because the spectrum is so wide. For example, do you plan for the worst case scenario (ivy league, no scholarship or out of state state school, no scholarship) -- $250k and climbing.
Or the best case scenario (they take tons of ap courses and courses at local cc until transferring their jr year to in state school with full tuition scholarship) -- ~$20k?
Maybe try to aim for the midpoint? It's a hard problem.
What I've read that mad sense to me, though, is that kids can borrow for college and you can't borrow for retirement (reverse mortgage notwithstanding).
Thanks for asking this. I recently took a job with $MEGACORP after 5 years with start ups. I forgot how much $MEGACORP likes meetings. I found myself thinking about how gumroad has no meetings. I asked myself the same question as the OP.
As long as I can Bill my hours, I don't care all that much. I find smaller or more experimental companies to be much more unstable, and in my thirties I just want something stable and nice so I can save money and retire with a bit over a million in the bank at 40. Just want to be done with it
Shoot, the article yesterday had me searching for how I can apply to Gumroad on top of my day job. They were claiming $50-250 per hour with as little as 10 hours a week. You want to save money? Have a stable day job and work at Gumroad for 10 hours a week. With such a short work week I can't imagine you'd be doing much more than simple bug fixes. I can swing 2 hours of that a day.
> retire with a bit over a million in the bank at 40.
You might have to set your sights a little higher. That's not gonna carry you to potentially 85 years old.