What I suggest you to do first is to stop working on the ideas that will not generate any money...
Ask HN: How to start earning $500/month in passive income in next 12-18 months?
31–40 of 205 posts
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#32Since March this year, I have been able to build a semi-passive income of around $1500 per month (lowest around $1000 and highest $2000) by building/selling items on CodeCanyon. Granted it's not truly passive income, rather semi-passive. That said, with minimal monthly efforts, the money comes in each month.
What sort of things have you made on there? Are there things people are looking for?
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#33$500 per month is $6000 per year. $100,000 in high dividend stocks may generate close to that much in dividends per year. So contract for $100 per hour for 1500 hours in the next 18 months. Then make a good investment.
How does one identify high dividend stocks?
just stick to an index fund - never hand pick securities!
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#34Since March this year, I have been able to build a semi-passive income of around $1500 per month (lowest around $1000 and highest $2000) by building/selling items on CodeCanyon. Granted it's not truly passive income, rather semi-passive. That said, with minimal monthly efforts, the money comes in each month.
What sort of things have you made on there? Are there things people are looking for?
Mostly PHP applications so far. An yeah, these are products people are searching for (I assume so since they're selling pretty well)
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#35Since March this year, I have been able to build a semi-passive income of around $1500 per month (lowest around $1000 and highest $2000) by building/selling items on CodeCanyon. Granted it's not truly passive income, rather semi-passive. That said, with minimal monthly efforts, the money comes in each month.
aren't they taking 50% of your sales?
When you're new you only get 50%, that rate goes up when you earn more. I think my account is at 55% right now. But the numbers I mentioned in my post is what I get, not the total amount of sales we generate.
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#36I am from Bangalore. I freelance as a python developer.
Tough this is not passive income this might give an idea: Billing $20/hr (that's what we get in Bangalore), getting $500 a month from a single client is very easy. But finding few more clients will get you more than what you want. You will also get a lot of time. Toughest part is getting the client, good clients usually come from your contacts.
Another thought, finding customers for your SaSS product will not be difficult if you have a good circle, attend conferences and workshops in Bangalore which will build you this circle.
I do a day job as openstack dev, freelance on django, and also working on my own ideas - I am doing this to pursue my passion of traveling(digital nomad). :)
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#37I'd give a read to Start Small, Stay Small (www.startupbook.net) and other startup literature. Study Paul Graham's essays (www.paulgraham.com). Random ideas: - Start something like skoshbox.com, but with Indian goodies. You may not realize it, but foreign countries crave Indian tastes and flavors. I would probably pay for a monthly delivery of Indian spices and sweets. - Start a podcast on a passion of yours. Offer f…
Interesting how many [realized] ideas we are unaware of... e.g I've never heard about skoshbox or Omegle.
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#38[deleted]
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#39[deleted]
I'm interested in training as well ... whats your area of expertise and how do you make your passive income?
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#40$500 per month is $6000 per year. $100,000 in high dividend stocks may generate close to that much in dividends per year. So contract for $100 per hour for 1500 hours in the next 18 months. Then make a good investment.
That's not a safe rate of withdrawal for people who are not gamblers. High dividend stocks are almost by definition risky stocks. More like half that would be sustainable.