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Tell HN: I made $1000 with my app and now making $500/mo

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Re: Tell HN: I made $1000 with my app and now making $500/mo

#151

Post by DeathArrow »

moosedev wrote: post #51
bgroat wrote: post #27

$500/mth is $6,000/yr At a 4% safe withdrawal rate what you've built is the equivilent of saving $150,000. You should be EXTREMELY proud of yourself, and never underestimate the power and value of the asset you've built

Without taking anything away from OP's achievement, I'd caution against this kind of exuberant comparison without some qualification around it. The risks to that app's continuing to yield $500/month in perpetuity are quite different (and, I dare say, worse) than the risks faced by the kind of balanced portfolio that "safe withdrawal rate" implies (to me). I acknowledge that you didn't directly compare with such a por…

Since $500 are almost 100% profit, I guess OP can sell it for about $30,000 which is not bad at all.

I made the valuation at 5x yearly profits.

Re: Tell HN: I made $1000 with my app and now making $500/mo

#152

Post by DeathArrow »

tome wrote: post #71
bgroat wrote: post #27

$500/mth is $6,000/yr At a 4% safe withdrawal rate what you've built is the equivilent of saving $150,000. You should be EXTREMELY proud of yourself, and never underestimate the power and value of the asset you've built

Normally web apps like this would change hands at around 3x annual earnings, so OP has built the equivalent of more like $18,000, which is still impressive!

I've seen many being sold at 5x profit, which is not 5x earnings in general but in this case is close to it.

Re: Tell HN: I made $1000 with my app and now making $500/mo

#153

Post by DeathArrow »

bgroat wrote: post #27

$500/mth is $6,000/yr At a 4% safe withdrawal rate what you've built is the equivilent of saving $150,000. You should be EXTREMELY proud of yourself, and never underestimate the power and value of the asset you've built

Why it's 4% a safe withdrawal rate? Is it safe in the current economic context? Isn't affected by inflation?

Re: Tell HN: I made $1000 with my app and now making $500/mo

#154

Post by DeathArrow »

Ventito wrote: post #89
bgroat wrote: post #27

$500/mth is $6,000/yr At a 4% safe withdrawal rate what you've built is the equivilent of saving $150,000. You should be EXTREMELY proud of yourself, and never underestimate the power and value of the asset you've built

I think its a great achievement in itself but your post does push people in the thinking of 'i can just make a no work sustainable something as a service app and become rich'. I don't think it works. I think the best bet by far is either to optimize your job salary (switching after 2-3 years, being proactive, trying leetcode, persuing FAANG) or following FIRE. $500 would be 5h per month freelancing. And to be really…

This is just an example of what a person has accomplished in a limited amount of time by himself. Noting stops you from pushing your hamster wheel at a FAANG or thinking about FIRE. You can even do this and a small app at the same time because it doesn't need a huge amount of time.

You don't even have to do a small app. You can do the next Uber or Airbnb. Or you can do something that yields the same monthly amount you get from your FAANG but have the advantages of having no boss and working for yourself. And if you decide you want to do something else, you can sell it for a nice amount, while quitting your job doesn't yield you any money.

Re: Tell HN: I made $1000 with my app and now making $500/mo

#156

Post by DeathArrow »

Does anyone have an opinion on web apps/websites vs mobile apps for small projects generating small incomes? Which is easier to pull off?

I do have the feeling that competition is tougher on Play Store / App Store and you need some kind of luck for your app to become visible and potential users getting to use it.

Re: Tell HN: I made $1000 with my app and now making $500/mo

#158

Post by greazy »

kristianp wrote: post #157

> Squat – 5/3/1 sets/reps, 5x5 @ First Set Last ( or FSL) Can someone decode this for me? [1] I can't see an explanation despite this claiming to be for beginners. [1] https://www.jimwendler.com/blogs/jimwendler-com/101065094-5-...

> First Set Last (FSL) is a rep scheme for supplemental work within the 5/3/1 programming framework. It programs the percentage of a lifter’s training max used for their first 5/3/1 working set for 5 sets of 5 reps (5×5).

https://liftvault.com/resources/first-set-last-fsl/

Re: Tell HN: I made $1000 with my app and now making $500/mo

#159

Post by kristianp »

greazy wrote: post #158
kristianp wrote: post #157

> Squat – 5/3/1 sets/reps, 5x5 @ First Set Last ( or FSL) Can someone decode this for me? [1] I can't see an explanation despite this claiming to be for beginners. [1] https://www.jimwendler.com/blogs/jimwendler-com/101065094-5-...

> First Set Last (FSL) is a rep scheme for supplemental work within the 5/3/1 programming framework. It programs the percentage of a lifter’s training max used for their first 5/3/1 working set for 5 sets of 5 reps (5×5). https://liftvault.com/resources/first-set-last-fsl/

What about 5/3/1? I assume it's 5 reps, then 3 reps then 1 rep, but at what weight?
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