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.
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Taxable Account: $369.54
Retirement Account: $70.47
Cryptocurrency Mining: $34.20 = ($63.30 Mining Income – $29.10 Electricity)
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.
Image by Sira Anamwong at FreeDigitalPhotos.net