Today I'm writing a short but important post for myself. It's to assess how my passive income strategies are working and if I'm on track to building up a $100,000 passive income a year portfolio? Considering I 'accidentally' made $800 of dividends last year in my taxable account, I wanted to see if I could build up enough passive income before I retire at 59.
Yes, I'm on track to retire by 59! I've been very prudent and smart with my investments since I was a young man and its paying off. I invested in growth stocks and funds but now I'm getting more interested in debt and dividend income and 'low touch entrepreneurship.'
Here's my passive income report for January 2021.
I made some money on Web Monetization this month. I earned $5.00 a small but nice sum of money. I might start posting videos on Cinnamon.video about my market thoughts and passive investing.
I've decided to ramp up posting to Medium, mostly just reposts of my blog posts here to earn a few pennies. This month I made a whopping $6.21! That's the most I've made to date and NOT by accident. I think I made $2.53 by accident one month but I'm going to stick with writing on Medium for a year!
The only affiliate stuff I have on this site is either Amazon Associates (for books I recommend), Dreamhost, Bluehost, and my Airline Credit Cards. This month I made $0.00 on them. That's ok.
I know that many financial and investment bloggers out there rely on affiliates for big income. I think about it too but I haven’t strategized on how to do that yet.
My goal is to retry Google Ads again for February. If they make me some money and don't slow my site down drastically, then I might keep them up there. Reason? I'm starting to write more financial stuff again and that draws a lot of people.
I'm mainly focusing on Dividends as the main vehicle for passive income. Why? I have a serious 401k and IRA nest egg that I'm transitioning to more income now. This month I made $138 in dividends in my IRA and Taxable accounts.
All dividends were reinvested for this month. I plan to do this for the entire 2021 while I BTFD (Buy The Fucking Dip) and add to more holdings over the coming months.
Total Passive Income for January 2021
- Web Monetization: $1.05
- Medium: $6.21
- Affiliates: $0.00
- Dividends: $138.00