For two years, Rosedale, Md., residents Shawn and Stephanie Grimes have been writing software applications for the iPhone, iPad and Barnes & Noble Nook, freelance work with no steady income, retirement funding or health insurance accompanying it, reports the New York Times.
Today the couple owns and operates Campfire Apps, a development shop producing smart phone apps for children, like Henry’s Smart Headlamp, which was produced specifically for preschool-age kids. But the work is difficult, with no guarantees for a big payoff. As the New York Times writes:
The couple aimed for one new app a month, but progress was slow and sales were slower. In March, with the apps bringing in only about $20 a day, they cashed in Mr. Grimes’s 401(k), which yielded $30,000 after taxes and penalties. They had already spent the severance from his job at Legg Mason. … The Grimeses’ quest cost them more than $200,000 in lost income and savings. So far this year, their eight apps have earned $4,964. [more]
Read more at the Times on the struggles of app developers to make a living.
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