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.

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3 responses to “Passive Income Update: Slow Progress”

  1. Joe says :

    I wouldn’t be discouraged by slow progress. As you note, the growth is exponential. Just make sure you portfolio is spinning off cash so you can optimize your investments as you go.

    • Simply Rich Life says :

      You got it! Like all good things, it doesn’t look all that impressive in the early stages. That’s why the people who get caught up in online income scams will never see the much better potential that lies in things like this.

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