So if you have been around youtube, you have probably heard the story of many people quitting their day jobs to work Youtube full time. Recently I got thinking that way with Steemit and what would it take for me to do the same. There are 2 fundamentals things that I would need for this to happen, income and stability.
Income
My current income with Steemit varies day to day. As of today, I make anything from $10 - $30 and 100% of it is being powered up. To have a steady income, it would have to be 50/50 payout, meaning 50% goes to my Steam Power and 50% goes to my daily transactions. To be able to pay all my bills/rent, I would have to make $200 a day. See Math Below.
$200 / 2 (50/50 payout) = $100 * $365 = $36,500 untaxed
Amount Taxed
$36,500 * .75 (capital gains tax is 25%) = $27,375
$27,375 * ~.8 (Normal Taxes ~20%, more if I get more) = $21,900 and that is the bare minimum to survive
Stability
Stability is the most important factor. Without the faith that I will at least get the same (or more) monthly income because Steems price stays consistent, you could potentially be doing the same work and get $100 one week and $700 another week. Because the price of bills are constant, it needs to be steadily constant to rely on Steemit (purely).
With the above said, If I consistantly can make $200 + for 6 months straight, I would consider potentially doing Steemit Full Time. The way that would happen would be if I gained a whole lot of followers, my followers got richer, or I got richer.
What do you think? Let me know below.
If you like this post feel free to "Resteem" this post and follow me at "https://steemit.com/@cryptowallet"