Friday, February 27th, 2009

iPhone Apps and Passive Income

iphone-app-passive-incomeI recently read several articles about Ethan Nicolas, a man who created an iPhone App (iShoot) with hopes of making enough money to pay some medical bills and save his family’s home. A few months later, his iPhone App is generating so much passive income that he was able to quit his job and can now dedicate himself fultime to creating more games - and more passive income.

I haven’t been able to find any information about about how much passive income his iPhone App is currently generating on an average day, but after sitting in obscurity for a few months, Ethan released a free version of his game - which generated enough buzz to shoot his iPhone App to #1 Paid App in the iPhone App Store. On the day that his iPhone App hit #1 - he sold nearly 17,000 units, generating $37,000 - Ethan quit his office job.

Obviously, it’s a good day when your iPhone App is sitting at the #1 spot, but even if his sales dwindle to 100 units per day, he’ll still generate $209 of passive income - that’s more money than many people make doing physical labor for 8 hours.

iPhone Apps and Passive Income
The iPhone App is a great example of a Passive Income Stream. You put your work in at the beginning, then you start seling your iPhone App and watch the money start to trickle in. To improve sales, you can put in some more time doing some marketing and generating some buzz if you want. If you’re really lucky, you might turn out like Ethan Nicolas and have a best seller - but even if your game generated $100 of passive income for you every month (you would need to sell 71 units/month for a $1.99 App), wouldn’t that be great?

For more information about Passive Income, check out my previous post “What Is Passive Income?

Posted by Chris | Filed in Money
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Friday, February 20th, 2009

Landmark Education “Sex and Intimacy” Seminar

I recently completed the Landmark Education Sex and Intimacy Seminar and wanted to share some thoughts. The Landmark Education Sex and Intimacy Seminar is one of many courses offered by Landmark Education and entails 10 sessions which took place over the course of 5 months. The seminar crossed over…
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Tuesday, July 22nd, 2008

Pay Yourself First

I recently read ‘The Richest Man in Babylon’ over the course of 2-3 days and I would suggest this book to anyone who is seeking to build their financial knowledge. It’s a quick read and I think it contains many great lessons, especially for people who are just beginning…
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Posted by Chris | Filed in Money
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Friday, March 28th, 2008

Investing in Silver

While I’ve been working on creating a passive income system, I’ve also been reading about different investment opportunities, and have taken an interest in investing in silver. There is a lot of information available about investing in silver and it could be a little overwhelming, so I’ll break it…
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Posted by Chris | Filed in Money
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Thursday, February 14th, 2008

Creating a Passive Income System

I’ve been reading the second book in the Rich Dad, Poor Dad catalog - It is titled “The Cashflow Quadrant” - and it discusses the different types of workers:

E: Employee
S: Self-Employed
B: Business Owner
I: Investor

Basically, I’ve come to realize that while I work for myself, make my own hours, find…
Continue Reading: Creating a Passive Income System