People on reddit.com and other websites are always asking what they should do with their money. Sometimes people need help figuring out what to do with a few hundred dollars, other times it is a few thousand.
In the case study I will explore how I invested about $800 in a four mac apps and how that investment has turned out for me so far.
Mac app one
In 2017 I had an idea for an in-dock app. Basically a date countdown app that functions while sitting in the dock of the Macintosh computer. Seems like when you are counting down the days to you wedding or another important event that it should be in a visible location.
I did not think it was possible to create such an app, but I was happy to fine out it was.
I spent $207.50 on the initial app in April and May of 2017. I spent another $55 on the app in June 2017 to make a free version so people could try it before buying the full version.
This app was a success right away as it made $172.83 the first 8 months it was for sale. As of September 30th, 2019 the app has made $425.
Mac app two
After getting the first app done I figured that a bill reminder app would also be a good in-dock app so I had my developer start working on it.
That app was launched in June 2017. It cost $181 to develop. It made $166.74 in the first 7 months of existence and has made $401 as of September 30, 2019.
Mac app three
Next I moved on to a countdown and timer app. This was also launched in June 2017. It cost $92 to develop. It is the worst performing app of the bunch, but it has still made a profit on $103 in sales as of September 30, 2019.
Mac app four
The last in-dock app launched was a stock ticker app. I had this idea for a while, but took my time getting it developed. This app was launched December 2018. It cost $265 to develop and it has made $172 since it was launched.
This app uses a free third-party API so it will need more attention than the other three apps in the future. I may need to upgrade to a paid API to get the app to perform at its highest level.
I am trying think of a way to make the app a recurring payment app, but I can’t think of something people would be willing to pay a monthly fee to access.
Overall these four apps cost me $800.50 to develop and they have made me $1,096.29 in two years and five months. Looking forward these apps could make me about $3,000 in passive income the next 10 years.
In addition, I could use the source code to create more apps in the future.
That is what I did with $800, I had some software developed that can make me a small passive income each month. Do you think it was a good investment. Do you think it was a waste of money? How would you invest $800 if you had the money?