Passive Income Report – December 2011

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