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 July.
The best way I keep track of my dividends 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: $369.54
Retirement Account: $70.47
Rental: $700
Cryptocurrency Mining: $34.20 = ($63.30 Mining Income – $29.10 Electricity)
Total: $1,174.21
I updated my Passive Income page for the month.
Passive Income Report
Last month was another solid month. I made two buys. I did not add any new company to my portfolio, but I did buy two companies that I find to be undervalued. One company is in the Health Industry and the other in the Service/Media Industry.
My taxable account performed outstanding last month. Year over year increase of 91.73%. WOW!! I made 91.73% more dividends last month then I did the same time last year. I’m super happy about that result.
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 is the second full month of this source of income. I made $63.30 last month from mining, but I do have to pay for the electricity that it needs to run. Therefore, I took home $34.20 of cryptocurrency mining. This was all passive. It is much lower than last month mining income, but let’s see how this plays out.
Overall, July was a great month of passive income. I am very grateful to be in this position.
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nice fiscal, congrats!
very cool about tthee mining rig. how much did it cost you and what coins are you mining?
cheers!
Hi Candian Paddiveincome, I wrote my cost and details here: http://fiscalvoyage.com/passive-income-with-cryptocurrency-mining/
it cost me $1940. it is actually lower than that because I was able to get some price match for the items. I am currently mining Monero XMR.
Felix,
These results are amazing. I love how you have so many sources of dividend income. That was some nice rental and dividend income.
Bert
Tanks Bert! Yea the different source of income are great! Now I just need to continue to grow them.
Can you expand a little more on the crypto mining bit? I’m sure you have already written about it here but I can;t seem to find it. I am also interested in the rigging machine and how much it set you back by.
The plan is to slowly start a passive income through the crypto market, which seems a good way – if not the best – to invest some small amounts. Thanks.
Hi Joseph, sorry for the late reply. that is a great question. I did write about it in an earlier post. here is a link http://fiscalvoyage.com/passive-income-with-cryptocurrency-mining/ let me know if you have any questions. I will be happy to help! 🙂 thanks for stopping by!
Hey Felix, thank you so much. Will let you know if I have any questions.
Thanks Joseph! 😊