I know, I keep harping on passive income. Why? It’s because I believe that when my passive income exceeds my living expenses, I’ll consider myself financially free. Yes, that is a definition ripped straight from Robert Kiyosaki of Rich Dad/Poor Dad, but it makes sense to me. As stated as one of my goals for 2007, I would like to achieve passive income of at least $500/month this year. Here are my sources thus far:
1. Rental Income: $250/month cash flow
2. Dividend Income: $18.71/month (from non-reg account)
3. Interest Income (From savings): $83.33/month
4. AGLOCO Income: Unknown for the time being. Last time I reported, I had 67 referrals (Jan 14th), as of today I have 140 referrals and growing! My referrals are building their networks quicker than I anticipated. I am hoping that when the Viewbar is released that cheques for $50/month or more will start flowing in. If you haven’t started your AGLOCO referral network yet, you can start here (it’s free).
Total: $352.04/month (without AGLOCO)
I started using MyLot, the site that pays you to post messages, but it requires quite a bit of time and effort. I could put in the effort, but I’m really short on the time aspect these days. Thus far, I have posted around 23 messages which are a combination of unique posts and replies with earnings of $0.80 (3.4 cents/post). However, in MyLot’s defense, there are some members who are making at least $25-$35/month. It just depends on how committed you are to posting on their site.
Anyways, I’m a little shy of the $500/month right now but increasing my dividend income along with AGLOCO income should do the trick.If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).