Ok, well, for the sake of argument let's say that your salary is 100,000/yr for a nice round number. Let's break this down by week. So, instead of making 100,000/yr you make 1923/week.
We can base this on my account for this next part. I'm a dolphin with 1k followers and just a hair shy of 10kSP. Right now let's say that my average post is around $30 USD and steem is $1/steem. Assuming I did this full time maybe I could crank out 4-5 posts a day, for 6 days a week. We'll call that 25 posts a week.
25*30 is $750.
So, if steem gets up to $2.50 you could possibly think about shredding your contract and simply writing full time.
Now, not everyone can do that yet. If you're just starting out reading something like this you may be thinking "wtf aggroed?"
I remember writing a post about Charlie Shrem when he was talking about how he could completely live off of steem while my posts were making $0.07. I was frustrated by that. So, hopefully I'm not comin' off like that. I just want you guys to get a sense of what kinda number we're talking about in order for you to live ok, not work an office job, and just blog. Seems like the two main things are price per steem, salary per week, and payout per post.
Don't forget the tax man
Another thing to consider is taxes. Because people that make 100,000 per year don't actually make that much. The government comes and takes away those earning and threatens violence if you don't let them. But assuming you're not reporting your steem as income because you're not converting into USD and they aren't looking the it's not quite as bad.
1923- 40%(1923) = $1158/wk.
If that's the case then if the price of steem doubles to $2 and one chooses not to disclose said wages then you're there!
IDK... just thinking about numbers. How much would you have to earn with steem before you'd quit what you're doing?
Please vote for me for Witness!
You can find me hanging out on steemspeak, a discord channel that many steemers use to text and talk to each other- https://discord.gg/qjpRj7w
or my new channel PALnet- https://discord.gg/HYj4yvw
I can also be found on steemchat as @aggroed. If you have a post to share give me a good sentence or two of why you think I’ll like it.
Passive way is to have 500k Steem Power, then use bot to vote 40x a day, you will get around $300/day curation profit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Know what the best way to make a small fortune is? Start with a large one!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
:)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Remember diminishing returns on 3-6 posts a day. I have unfollowed many people that have tried to crank out multiple posts a day without really saying anything.
Although it will work in the beginning it will plateau quickly.
If you manage to keep the quality up, you would likely burn yourself out.
But good luck
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah the people in my feed that do 4-6 posts a day I end up skipping a lot of them.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I caught one fellow copying from another website for his post, and called him out on it. Never got a response. He's one of those who posts at least six a day, so I figure he's either a fast writer or he's copying and pasting a lot.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Still a hypothetical, but good feedback!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
As a minnow myself, I would not have considered this. Fortunately, I have too many other things stewing to post that many per day. I try for 1 or 2 posts a day and try to make a fun Chain writing game and hope that people start to read it (an example is here). Then, if I start to get a following through it I'm sure that I'll someday start to have the Whales swimming in the same pool.
Otherwise I have my Software Engineering job that I quite enjoy and my writing career (finally got published) and my artwork and so on.
Thanks for that insight @fiveboringgames.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very encouraging post.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's not insurmountable
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@aggroed Thank You 4 sharing the numbers & calculations...
UpVoted, Following, Promoted and will ReSteem later...
Opps, almost forgot... I'm voting 4 You as a witness.
Have a Great Weekend @aggroed .... Cheers !!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wow! Thanks. Very cool!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You deserve it in my opinion... Hey, I just tried to vote 4 You as a witness, Do I need to do a write in for You because I didn't see Your name ?.... Just let me know & I'll go back to vote.
Thanks Again @aggroed !!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
yeah. It's under the list of names and you type in aggroed. Thanks a ton!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hey... we're here to help each other... that's what it's all about.
Plus... You've written "ton" of good posts !!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for you support!!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Sorry... Quick Question... when does the voting end because I still have over 20 Votes for a witness ??
Thanks again !!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
never
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I love doing "what-if" scenarios for making money... they rarely actually work out the way I would like them to, but the potential is always there.
This is a nice break-down to show where I need to point myself. I'm like a Salmon swimming up-stream against strong currents with a Grizzly on the rocks just waiting for a meal. If a Whale were to show up as a guide, that Grizzly would surely bolt for the woods.
So I'd like to shoot for $50/post and 20 posts/week. Even then I doubt I'll ditch my current job.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
you're timing ont his was perfect
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Interesting analysis. My main problem would be running out of topics to discuss. Haha
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It gets easier as you join more communities. Lots of people have neat ideas and folks are interested in different takes on them.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I wouldn't worry about looking for a job if I made $500 a week on Steemit. I think that's attainable :D
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm a dolphin and can do that now... so yeah!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The only question I would have with relying on Steemit is this: "How would you use your Steemit funds in day-to-day living without giving up Reputation/Power/Steem?"
I mean, the best thing about Steemit is that you can generate Steem and keep your Train on the track so that when the Steem cryptocurrency reaches to the sky you can cash out for a huge profit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm not telling you that you can power down and cash out. I'm saying that you won't need to because the services will be available.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I wouldn't want to power down. I'd want to keep gaining momentum for the future, but I wonder what I would use, monetarily-speaking, for my daily wants and needs (if I only did Steemit, that is). As an example, how would I use STEEM to purchase my groceries without wiping out a good chunk of STEEM every time I needed groceries? This is where I think I would keep my other money-makers in play and have my normal job to make the money I use day-to-day.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's a matter of scale right? Only way to actually grow your account is to spend less than what you earn. If you can leave cheap it doesn't take much. If you spend a lot then you have to earn more. yeah, I don't want to give up steem or SBDs, but I also want to continue engaging in commerce but not supporting the FED. Not a ton of options...
I'm writing a piece on the stuggle of the different growth stages. I'm using your salmon quote. Hopefully taht's cool (I'll give you credit)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That would be great. Put my name on and maybe I can get someone higher on the food chain to follow me. It's all about branding and marketing yourself to the right audience. So far, it's not been too kind to me, but I'm confident I'll climb the ladder.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
starting off is brutal. Hang in there. Maybe this will help a little.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I am also thinking the same as you have wtitten and explained everything.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great minds think alike and so do ours!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Steem at $10, I would quit everything else. $2.50 I could quit a few of my music jobs lol..I'm still a minnow at this point, but I see the potential of Steem. Congrats on dolphin status!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is exciting to think about..
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
My only push back is as the price rises so will the number of people who want to participate. So, there will be more competition for rewards.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
yeah, but hopefully more people also means more investment
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agreed. It will be interesting to see if we can create a balance.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Haha, You're WAY better than a dead witness;)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
WOOT! Vote for Aggroed! Thanks for the encouragement!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Already voted for you! Good luck!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You're awesome! Thanks!!!! Keep up the cool content! Think about coming into the PALnet discord channel!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No idea what PALnet is...did a search, found a website about 'pallets' pretty sure that's not what you're referring to.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is a great post at least for a goal setting... I'll get there, I just need to work my ass off.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
sadly, no good way to skip that portion.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Haha... I'll just enjoy the journey
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nice one. But, I think we should not think about it much. Come on! We don't need to be a full time captive here on steemit. We can do other stuff as we do regularly and still do networking.
And publishing 4-5 posts a day, in my opinion, isn't going to help. Is it?
Its most likely going to annoy your followers. Yes, I followed you and will be waiting for your posts, but, what if I get notified every few hours that you made a new post. I might ignore some of them. ;)
Lastly, I joined Steemit just 2 days ago, and yet learning stuffs, so I may be entirely wrong in what I stated above, but that's what I believe.
See you soon. Thank You :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That would be about the exact number I would need for my wife to not have to work. I'm a stay at home dad so my income is non-existent. I make money with savings. Doing all my own work on cars, taking care of the kids, doing my own home renovations, etc. For both of us to be able to quit doing both it would take much more. We live in California, so living expenses border on the obscene. Thanks for the post. It would be nice to make a living off of this.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Steem at $2.50 looks to be a very real possibility later this year since it's currently at $1.75. If it gets to $10 in the near future, it may be vacation time after all!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That's SBD. Steem is at $1.21. So, I'd need the price to double.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
My bad, I was looking at Steem and wrote the price for SBD! A doubling in price would be cool, but a Steem price of $10 would be the icing on the cake for me lol
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think this would be completely viable, and I'd be one to definitely go all in with it (even though I literally just became a steem member TODAY) if the price were right.
But I guess it's time to start writing more, eh? ;)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
are you canadian? Man the price of steem to loonie is great right now!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Haha I'm from the US BUT I travel full time doing web design/marketing and now copywriting :) (Getting BIG into storytelling/content marketing/etc) so writing is a potential gold mine for me on steemit right now! :D
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I thought about this before. $100 steem is probably a good estimate for anyone that makes a couple bucks a post.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for sharing. It gives hope to newbies - even if we do not yet have lofty goals. My goals are humble at this point but I do see the potential. Never dreamt of becoming a blogger but Steemit could cause one to start dreaming and make the dream become dollars.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
yeah! It's on the radar!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think the number should be larger than probably what anyone is currently thinking. I don't think any of us that believe in this thinks that $2-$3 is the end game. That being said, you aren't going to want your totals to slowly reduce or even flatline right? That means you can only take out a portion of your future earnings to continue building. We have seen influential people talk $10 Steem. It could be higher with a longer timeline. I don't think anyone can say with certainty where the top is in terms of price, but we need need the war chests filled within our highest means for the opportunity of those prices. You only have to get rich once. Double dip by earning at your current job until you can literally hit the cashout button and never work again. Don't rely on daily future profit. Too many variables. So my final answer....50,000 @ $20 in a few years.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think if one's job isn't something they dread, then they can double up on their income by doing both, blogging on steemit and their main job. That'd be ideal in my opinion, would just need a bit of time management.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes, precisely this! :P JK!
Great post. I've always wonder about this.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Oh, so nice of my brother to stop by! yeah. I thought it was good satire.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well yes I guess that's part true but as more people and the masses join us there will be a lot more posts . The more post there are the more diluted the earnings become. That why it's so important to be as active as possible early on! If I'm wrong in this please some one correct me. If I'm correct please let me know as well . Steem On ! Steem Nation!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great article. Very encouraging. Thank you for sharing. I do believe you are a bit wrong on the tax portion, at least in the USA. Cryptos are considered commodities by the IRS, and are taxed at the capital gains tax of 20%, but this only applies when you convert to fiat. Therefore, if you receive $1000 in Steem, and cash it out when Steem gains value by 20% (your $1k is now worth $1200), you would only pay 20% of the gain ($24) in tax (capital gains taxed at 20%), instead of 40% of the $1k ($400). Regardless, I really appreciate you taking the time to write this. Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
doesn't capital gains tax have a 1 year minimum? You have to hold it? It's been a while since I've been buying that since I have kids.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No. You are required to record your gains, every time you cash out to fiat, and then report that total yearly amount to the IRS at tax time. You are not taxed for holding, but only each time you cash out.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
All the more reason to figure out how to keep everything you do in crypto land.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
hopefully more and more people and business will begin accepting cryptos!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
If you get there let me know, I would be delighted for you and just a bit jealous ;-)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Also just voted for you
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm not sure if I'd ever quit my job but I would definitely use my steem to "feather my nest".
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
seems reasonable. Things change as you grow though
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Considering that people will vote my post, I'm fine with the current $1 but I didn't say I don't like $2.5, nobody is going to say no. Even if its $3 and nobody is voting, it makes no difference not unless we have huge stakes.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Really cool article. One can dream!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
glad you like it!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit