For all of those who are faithfully following my progress on this site, you know reporting my income is a tradition at Passive Income to Retire. My goal is to have enough income to more than replace my income from my day job. I want to make sure that I can sustain a steady income before I do something crazy like retire at the age of 27, so I am building up my income now to see if I can maintain it for a while before pulling the plug on the traditional job.
When you consider how old my blogs are, I think this is great progress. If you stick around, I think you will see this more than double in the next couple of months because I have been working on adding more blogs to my online business portfolio (some people call it an empire). As I described my approach to creating multiple passive income streams earlier, my first focus in developing “passive” income streams is to work on online businesses. As a result, this passive income report is the money from my blogging efforts.
December 2011 Online Income
20′s Finances Advertising: $742.50
Co-Owned Blog Income: 161.25
Staff Writing: $40
Online Freelancing Efforts: $45
Total Income: $988.75
Again, while it is not all passive income, it is additional income that will go towards developing more passive income in the future. Since I don’t need the money right now, I am going to be investing into areas that will help build more income in the future. I figured once I can build up enough income, I can pay others to run certain aspects of blogging and still keep a large profit for myself. This will allow me to keep my time commitment to less than 3 days each week and keeping the same income as my day job right now (if not more) that I currently earn while working 5 days a week. Once I establish myself online, I plan to expand to real estate and then put money into dividend investments.
December was also a relatively slow month for the blogging business because of the Holidays. I anticipate a huge month in January. Only time will tell, so be sure to come back to check my status next month. You can also read my opinion on passive income / blogging every Monday and Thursday. To make it easier, why not subscribe to receive email updates when new material is posted.
Carnivals
The following carnivals featured Passive Income to Retire in the past two weeks:
Carnival of Personal Finance at Money Cactus
Carnival of Financial Camaraderie at My University Money
Canadian Finance Carnival at Canadian Finance Blog
Carnival of Financial Planning at Skilled Investor Blog
Personal Finance Whiz Round Up at Personal Finance Whiz
Yakezie Carnival at The Ultimate Juggle
Carnival of Financial Camaraderie at My University Money
Totally Money at Help Me to Save
Canadian Finance Carnival at Canadian Finance Blog
Carnival of Financial Planning at Skilled Investor Blog
Are you outsourcing any of your writings?
I haven’t yet. Although, I just hired a staff writer for 20′s. It should free me up just a little to keep developing my most newest sites. How is your site going?
Just found this through OnlineMoneyBloggers. I’ve been hesitant to start trying to monetize my blog, wondering especially how (and how much) others do it. (I’m not very tech savvy). Very cool stuff here.
Any suggested readings (other than here) on monetizing a blog? (I think my first step is to get out of blogger, right?)
There are multiple ways to monetize a blog. It all depends on your strengths. Adsense is a great way to start – it won’t earn very much at the beginning, but it is good to get the hang of at the beginning. Feel free to email if you have any specific questions.
Thanks Corey! I was thinking about Adsense, but I have paranoia ad-control issues I need to get over first. Thanks for the offer to e-mail with questions. I’ll poke around a bit here and over at OMB for some ideas…you know, to learn to fish insteading of just asking for some. Now I’m hungry…
Nice work clearing $1K in a month – that’s a 5 figure side income! The beauty of blogging is that the income tends to continuously grow over time as you learn new ways to earn income and broaden your reach.
Thanks – Yes, I’m very excited about the possibilities in the next few months (and next few years). Seems like the sky is the limit!
A very solid month which should only improve over time. You are really rocking it. Keep it up!
Thanks CFM. I hope to keep improving and should be able to do so as my other sites get some rankings and advertising.
Corey! Nicely done for December. Usually December is not a great months for traffic and ads but seems to me you are doing great in spite of that.
[...] WAIT, THERE’S MORE: If you are wondering what happened to my freelance and staff writing money, it is still coming in. Since it is not directly related to this site, I am now tracking that information on my other finance blog, Passive Income to Retire. If you want to see all of the details for this month, here is my latest passive income report. [...]