Sunday, April 5, 2009
3 Sources of Passive Income
Been seeing a lot of advertisements on the newspapers recently advertising how some people are willing to teach you how to make passive income by either joining their seminars and stuff. Well, I will just share mine openly since I believe that knowledge ought to be free for all.
In this post, I will be revealing the 3 sources of passive income that I hope to achieve by the end of this year. For this year, my goal is to achieve a passive income of $400 per month or $4800 per annum. I am looking to 3 areas/ sources to grow my passive income.
Source #1 - Dividends and Distributions from Stocks/REITs
This is currently my main source of passive income. I hope to achieve a minimum of $300 per month or $3600 per annum of passive income from dividends and distributions that I receive from both Singapore and US listed stocks.
Source #2 - Paid Advertisements on Blogs
I am currently relying on Google's Adsense to make some coffee money. It is peanuts really. Hope to achieve a stable $20 per month by the end of this year.
Source #3 - Writing Options
I have opened an OptionsXpress account. Basically, I hope to sell naked puts on fundamentally good stocks. Should the puts be exercised, I won't mind buying the stocks. If not, I will just be happy to make money from these puts. I hope to make this source of passive income operational by May 09.
There you go! My 3 sources of passive income. Feel free to comment or share your sources of passive income with me!
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