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 January.
The best way I keep track of my dividends and other income is by using Personal Capital. I highly recommended for you to sign up and start using their service. It is completely free and extremely helpful.
Taxable Account: $548.79
Retirement Account: $73.34
Rental: $700
Total: $1,322.13
I updated my Passive Income page for the month.
Passive Income Report
What a lovely way to start the new year with over $1300 in passive income for the month of January. It is not as much as the $3117.83 I received for December, but I am very happy with the income since January tends to be a slower month.
My taxable account killed it Year over Year (YOY) with an outstanding growth of 189.25%. This is the highest I received from a first-quarter month since I started receiving passive income.
That $548 can pay for a lot of my bills. This income lessens my burden of having to pay for my bills with money I make activity. This is why I strived to reach that $2000 a month of passive income.
My Retirement account also saw a nice YOY growth. The growth was not as high as my taxable account, but it did saw a nice 12.12% growth. I am not actively putting more money into my Retirement Account because I am focusing on growing my income on my taxable account. This focus will allow me access to the money to be able to FIRE.
Last month I told my Tenant/Roommate that rent was only $600 for the month of December. That was my Christmas gift from me to him. We are now back to $700 for the month.
January of next year I will be increasing rent by $50 to a total of $750, so I am looking forward to that. I think he won’t have any problems since I have not raised rent for the past two years as well as this year.
All in all, I had an amazing January and I am looking forward to the year and further growth in all areas of my life and I hope that you grow in all area of your life as well!!
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Image by Sira Anamwong at FreeDigitalPhotos.net
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FV –
Killing it no doubt! Keep grinding and putting that capital to work. One dollar at a team, chipping away at the FIRE goal!
-Lanny
Thanks Lanny! Its so ture. One dollar at a time!
Nice job. 1300.00 in passive income in any month is nice. Keep it up.
Thanks Doug! It has taken a few years but it is getting there!!