Passive Income Update: Slow Progress
Three and a half months ago I set a passive income goal to build up to $500/month, from a starting point of $223/month. Thing have advanced a bit and now we’re up to $262.84/month. This is the current status of each part of that original goal:
- Investment portfolio and savings interest: this counts for $259.54. By the end of the year I expect it to be producing up to $290/month and the progress will continue next year so this is advancing well.
- My blog experiment with adsense: this month I got one click on adsense with a high payout. If something like that keeps up I can count about $3.30/month from this. It’s going very slowly but I haven’t really spent any time on it. I think the twitter marketing strategy is working but very slowly because I’m not putting much into it. If I spend a bit more time on marketing and content I think the revenue will increase nicely.
- Product #1 (partnership with blogger): this is still undergoing some final revisions before it can be launched, so it doesn’t count for anything yet. I think the potential is very promising though. If it goes well this product alone could give me the entire target amount and more.
- Product #2 (service for small businesses): I don’t think I’ve moved this forward at all. Once the other product is taken care of I will get back to this and see if I can add a bit of income from it.
That’s not a lot of advancement for 3 months. But like many things, this is likely to happen very slowly and then very fast.