Saturday, July 28, 2007

passive income

I just read a great post on passive income from a blog I just recently noticed:

Apparently Brian , has made over $1,500 in passive income in the past month. I'd be happy just to make $100.

As I approach me new era of debt freedom I am getting more and more interested in investing back into different types of passive income.

Although rental properties are the most prevalent type of 'passive income' I don't have the down-payment nor the patience really to deal with tenants at this point in my life.

I do have a gumball machine that is collecting dust currently. I just need to find:
  1. a stand
  2. some gumballs/'super-balls'
  3. a location to plop said machine
Ideally, in a year or two, I'd be happy to be making around $400-500 a month in passive income. That would basically pay for my rent right now. Then, I could gradually bump it up to $600-700 (rent & food) until it hits the $1,100-$1200 mark or my current monthly expenses.
That would be a great place to be eventually there.

Currently my passive income is about $6-7 a month (Interest on my money market) I think that definitely needs to change - sooner rather than later.

No comments: