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 June.
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: $642.40
Retirement Account: $97.58
Cryptocurrency Mining: $116.18 = ($145.28 Mining Income – $29.10 Electricity)
I updated my Passive Income page for the month.
Passive Income Report
The month of June was pretty busy for me. I came back from my trip to Europe which I will be posting pretty soon. I was able to buy shares of this great company. Matter a fact, I bought the same company two times last month.
I love the end of the first, second, third, and fourth quarters of the year. This is when most companies pay out there dividends. Since I am a dividend growth investor, this is the time of year that most of my income comes in. The month of June was no different. I received a massive dividend income of $642.40 for the month of June. That’s money that I did not have to trade my time for. Just being alive I received $642.40. That money is being used to by more shares of amazing companies that will increase their dividends in the futures, therefore, increasing my passive income.
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. Last month was its first full month of running and it has been great. I made $145.28 last month from mining, but I do have to pay for the electricity that it needs to run. Therefore, I took home $116.18 of cryptocurrency mining. This was all passive. I do plan to increase my mining income in the near future. I will let you guys know when I do.
Overall, June was an amazing month of passive income. I am very grateful to be in this position.
To my fellow American, Happy Independence day!!
Image by Sira Anamwong at FreeDigitalPhotos.net