Two reasons I started this blog was to track my monthly investment performance and set passive income goals. Before I started “Prosper With Me”, my goal was to earn $100 a month from passive investments. Wikipedia defines passive income as “income streams where income is received on a regular basis, with little effort required to maintain the income stream.” You receive income from your job but it requires a lot of effort. Maybe not for some, but it does require effort and usually 40 hours a week. Investment income or dividends are a form of passive income as they require an initial cost to invest but require very little time to maintain. A savings account, cd, stock or mutual fund dividend, are examples of passive income. They are investment income but passive as well. Some would also state that rental property is another form of passive income. I have friends that own rental properties and they can be a lot of work some months, but they are still considered passive income.
My investment style is conservative and this will be apparent in my Passive Income below. Most of my investments are in Cd’s. I do invest in securities like stocks, mutual funds, and I even purchased my first two options in my ira today. One biotech company and the other was a natural gas producer. I will leave the topic of options for another day and another post. For now, I want to track my passive income for April. I am going to round up my figures to the nearest dollar to make the numbers clean.
Yuwie $11
Prosper $8
Big Crumbs $3
Google Adsense $0
Stock Dividends $71
Savings Account $99
Cd’s $783
Total Passive Income for April $975
I beat my goal of $100 in Passive Income by $875. Clearly, I need to set a higher goal and challenge myself a little more. I’m going to set a goal for May of $1000.
{ 2 comments… read them below or add one }
Thanks for your personal example of passive income. If only we all were brought up to think in terms of passive income as opposed to earned income, we’d all be better off. Then again, there would be no wage slaves to manipulate!
Thanks Troy for your encouragement. I want to help myself and others by tracking my progress of what’s working and what’s not. If we can share accomplishments or failures, I think we can all benefit.
Scott