Passive/Alternative Income Update – Sept 2007
One of my goals is to build my passive/alternative incomes to the point where it will meet our family expenses. I believe that the day that you don't depend on your day job to pay the bills is the day that you are financially free.
I've been slowly building our passive/alternative income streams, and this is what we have thus far:
Side Business Income: $400/mo
Dividend Income (non registered): $36/mo
Interest Income: $124/mo
Net Rental Income: $250/mo
AGLOCO Income: $0
Total Passive/Alternative Income per Month: $810/mo
I am extremely disappointed with AGLOCO thus far as they have not started their payouts yet. Could this be another startup failure? It seems that the Viewbar has advertisers and they AGLOCO should have some income flowing. Only time will tell I guess. Have you guys been using the Viewbar? What are your thoughts on the company?
In another post, I will get into my monthly expenses so that I can see how far we have to go until we are "financially free".
16 Comments, Comment or Ping
1. The Financial Blogger
What is exactly your side business income? do you really consider it as a “passive income”?
Sep 19th, 2007 @ 8:38 am
2. FrugalTrader
Hey FB! Side business income is basically online income. Nope, I don’t consider it “passive” income, but I do consider it “alternative” income thus why I titled the post the way I did. :) However, I don’t consider my online income as “work”, which is another reason why I included it in this post.
Sep 19th, 2007 @ 8:42 am
3. DCsales
I’d love to know what internet business you have that brings in 400 a month and results in very “work”. ;)
Sep 19th, 2007 @ 1:09 pm
4. the Wealthy Canadian
I signed up with Agloco; I never expected much, they failed the last time out so I’m not really confident that this time will be any different. I only signed up because I thought that it couldn’t hurt.
I’m not entirely impressed with the viewbar. It doesn’t seem to help the browsing experience, thus I think people will see it as just another useless widget on their PCs.
Sep 19th, 2007 @ 1:27 pm
5. Warren
While I’m a landlord and enjoy that extra income, I wouldn’t call it passive unless you’ve got a management company running things.
That being said, it sure beats 9-5!
Sep 19th, 2007 @ 3:28 pm
6. Gates VP
Hey FT, I’ve been a little snipey on the boards from time-to-time, but I’m going to give you full credit for this one:
I believe that the day that you don’t depend on your day job to pay the bills is the day that you are financially free.
That’s about as succinctly as I’ve heard it put. $800 is a great start, that’s like $5/hour, 160 hours/month that you’re getting from other people.
Congrats
Sep 19th, 2007 @ 4:49 pm
7. Xias
Great job!
I’ve also been unimpressed with Agloco’s performance thus far (I even signed up through your site if memory serves). I made a killing with AllAdvantage…but that’s probably why they went under. I’m suspending my use of the bar until they have at least some sort of payout.
Sep 19th, 2007 @ 5:35 pm
8. Jonathan
Passive income is great. I trade for a profession, but wouldn’t be able to weather the drawdowns without other streams of income. Good luck.
Sep 19th, 2007 @ 11:49 pm
9. InvestorBlogger
I wouldn’t bother with Agloco… I don’t think it will survive in the long term. While startups do have income issues, I can’t see how it’s going to leverage any advantage that it has… It’s largely a waste of time/effort.
Kenneth
Nov 12th, 2007 @ 12:43 pm
10. Jonesy
Passive income is great, how come you don’t built up the dividend income (non-registered) and dump the interest income?
What is agloco?
Dec 18th, 2007 @ 4:12 pm
11. FrugalTrader
Jonesy, the interest income is from my high interest savings account, of which will be used as a down payment towards my new home.
Agloco is a failed internet startup, don’t bother with them.
Dec 18th, 2007 @ 4:36 pm
13. Shaun Rosenberg
I love passive income. The only this is that you have to work hard to get it in the beginning. But once you have it, it feels good.
Apr 15th, 2008 @ 2:04 pm
14. JR
Shaun Rosenberg said
“I love passive income. The only this is that you have to work hard to get it in the beginning. But once you have it, it feels good.”
why is that Shaun, I mean why does it have to be hard
For example I read on MDJ you can start with almost zero, even on the credit card arbitrage thread, money for free. Then take that money and explode it into many things. Foster in his book claims that he did it, as did the Smith manouvre.
My first preference was REI, even bought an ATM that netted 30% ROI
There are many many more I suppose, each has one … now what are your passive income strategies Shaun … care to share?
Apr 15th, 2008 @ 8:56 pm
15. Ryszard
Hi FT, I know this thread it pretty old, but that topic never gets really out of date. What is your approach now, four years later, to the passive income. You don’ t mention that in your net worth. Did you give it up?
Mar 1st, 2011 @ 3:07 pm
16. FrugalTrader
@Ryszard, yes, passive income is always an interesting topic. This has changed quite a bit for us. The business side income, is not so passive afterall where it requires a lot of work. So, in terms of real passive income, it would be my dividend stocks/REITs, which is about $1800 per year.
Mar 1st, 2011 @ 4:23 pm
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