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 October.
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: $447.31
Retirement Account: $52.47
Cryptocurrency Mining: $1.36 = ($27.66 Mining Income – $26.30 Electricity)
I updated my Passive Income page for the month.
Passive Income Report
Another month in the books. Last month was good and bad for me. Let’s start with the good. My dividend income came in over 100% year over year (YOY). I am very happy about that. As you can see above, my dividend cross the $400 mark for the first time in the first month of a new quarter.
Another good news is that my new monthly average is now over $1250.00. So I only need $800 more to reach my ultimate goal of $2,000 a month to call it quits.
Now with the bad news. I had a dividend cut from one of my company on the very last day of the month. This dividend cut hit me pretty hard because the company was paying me a little over $300 in dividend for the year. I had to sell the stock and redistribute the capital to other companies. I will post about the sell and the redistribution buys soon. Those who follow me on Facebook or Twitter already know of the sell and buys.
Another bad news is that my crypto mining is at the point of losing money. I had to make some changes to lower my power consumption. This is why my electricity that the mining rig usages was only $26.30 vs last month $29.10. It also looks like for the month of November that it will be lower. Therefore, November may be my last month of mining. I will continue to keep an eye of the crypto market, and I may get back into mining if the price starts to head back up.
Overall, I’m happy that I was able to obtain $1,201.14 in passive income for the month of October. I know a lot of people would wish to be in this position. That is why I am very grateful for what I have and continue to have even though I had some bad news for last month.
Image by Sira Anamwong at FreeDigitalPhotos.net