One of the reasons why I started this blog was to track my passive income earnings.
In 2008, I managed to hit my goal of achieving $200 per month in passive income.
The goal set for the year 2009 was to hit $400 per month passive income.
With 31 days left to 2009, I have to figure out a fast way to hit that amount of passive income.
Here is my estimate at where I am at currently:
1. 12,000 x Ascott REITs (DPU = 3.55 per half) = $71.00 per month
2. 17,000 x First REITs (Annualised DPU = 7.66cents) = $108.51 per month
3. 1000 x Suntec REITs (Annualised DPU = 11.94cents) = $9.95 per month
4. Maybank iSavvy Deposit = $8 per month
5. Online Income Sources = $30 per month
Total = $227.46 per month
I am now torn between putting my capital into dividend stocks or stocks for capital gains.
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There lives a farmer who had sown seeds on a bare patch of ground. Each day, he will water the seeds and put fertilizers. After 1 week, he looked at the bare patch of ground where the seeds are buried. There's no growth. So he carried on and did what he did before for another 7 days. Again he sees nothing but a bare patch.
ReplyDeleteThis carried for 1 month. Hey, this is frustrating. How come I put in so much effort but the seeds just won't grow?
Little did he know that while there is nothing to be seen from the top, the little seedling are growing the roots first, so as to have a firm foundation.
I wonder if the farmer will pull the seedlings upwards to 'help' it to grow faster.
I came across your blog by Google search and have been reading it for a few weeks.
ReplyDeleteCongratulations! It is good to know that you started young to appreciate and pracitising the financial route to independence.
I am a strong believer and have been doing some similar stuff to achieving financial indenpendence.
I enjoy praciticing what Robert has shared in his books. We have to rely more on passive income. However, not sure your thoughts on purely relying on passive income when you have not been accumulating or converting sufficient of your other income (can be employment, inheritance, etc.) to passive income at this stage.
Perhaps you have some portion cashflow from other sources such as inheritance which is not shared?
Care to share more on your thoughts? Just for general understanding.
All the best!
Don't be tempted to "cheat" just to make up your numbers. Just go with your usual investment process (even if it means the dividend is low and might not give you the number you want).
ReplyDeleteThanks to all for the parables and advice.
ReplyDeleteI must admit that I have been tempted to pull the seedlings up.
LP,
I really love your story. It speaks to my heart.
Anonymous,
I don't have any inheritance cash flow. I guess I rely quite a bit on portfolio income and online income as passive income. I understand my strategy might seem weird as I should be focusing on capital gains and growth.
Nevertheless, I do try to mix both strategies together.
Wealth Journy,
Thanks for the advice. I must admit that I do feel a strong urge to "cheat" just to make the numbers look good.
Hi FF,
ReplyDeleteWhat you have been doing is not weird. It is the right way and it's great that you appreciate it at a younger age. It works well and I am still accumulating my passive income all these years.
Just highlighting that you need to get more capital to continue to grow your passive income so that it can cover your expenses (financial independence).
Of course the best way is from B&I (Business & Investing), but if you have not been able to access to this two, most of the people will do it with E&S (Employment & Self Employed). Sometimes, E may be one option for you to accumulate and convert as fast and as much as possible over to I income (which make up most of your passive income now).
Just a thought for you,
T
Thanks T for the good insight.
ReplyDeleteWill be interested to learn more from others how they increase their passive income too.
Different people have different strategies and it is good that we can learn from all of them.
Congrats on your passive income! Although it's not a really huge amount,but you manage to have a positive cashflow. To be honest, I'm still figuring out to produce a passive income too. But i'm a learnig all the terms and figures.
ReplyDeleteIf you dont mind, what do you mean by term 'DPU' and and also 'divedend stoacks'.
I am a newbie inivesting. Appreciate if the other people in here could assist me too.
Thanks!