Once a month I like to talk about my total passive income for the month. I do this to track how much is coming in. Once I get over $2,000 a month in passive income, I will be in a great place. $2,000 a month is my crossover point. At that point, that money will be enough to cover all my expenses.
Here we have my passive income for the month of August.
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Taxable Account: $420.47
Retirement Account: $96.23
Cryptocurrency Mining: $25.08 = ($54.18 Mining Income – $29.10 Electricity)
I updated my Passive Income page for the month.
Passive Income Report
I could not be any happier on how this year has been going so far. I recently hit one of my Dividend Portfolio Goal last month. I really thought that the goal was going to run me towards the end of the year. Little did I know that I was able to past it in only eight months. That’s outstanding in my book.
My taxable account is crushing it every month. Last month YoY increase of 47.85%. I am very happy with that increase.
My retirement account continues producing income; however, I am not putting in fresh capital so the compounding is slow here.
Rental Income is like clockwork here. My tenant has been great and he will be renting my room for at least the next two years. I am happy about that. He has been great this past year and a half.
My newest source of passive income is my mining rig. This has actually been decreasing since I first posted that I received $116.18 for the month of June. For August, I only received $25.08 after subtracting the cost to run it. BitCoin has been flat which is affecting my profit margin on my rig. Right now it is still profitable but if this trend continues I may have to shut off my rig and wait to see if BitCoin can bounce back over $7500.
Overall, August was a great month of passive income. I am very grateful to be in this position.
Image by Sira Anamwong at FreeDigitalPhotos.net