As a passionate retirement planner, my goal is to FIRE (Fire Independence Retire Early). This means I need to make a significant income quickly, save loads of it, and retire in the next decade. One of the ways to retire quickly is to have strong passive income streams that work while you sleep. That is in a nutshell, the goal of this blog and my other passive income sources.
This quarterly report will dive into the revenue from this blog as well as my other passive income sources, with the simple goal of showing you that you can do it too. Not too long ago I was sitting in your shoes, worried about retirement, not sure how to generate passive income to attain my goals.
My July 2019 Quarterly Income Report
I publish this every quarter. Why am I doing this?
Helps me keep track of my progress – It really helps to see the numbers and charts to understand how I’m doing over time. I can also see the impact of any new ventures I take on.
Show it’s possible – I want everyone to know that it’s possible as a busy professional to develop multiple passive income streams.
Motivation & Accountability – If I publish this and I know people are looking at it, it makes me want to perform better. It’s been shown that you’re much more likely to attain your goals if you have other people keeping you accountable.
Retirement Nut Blog
Display Advertising – Total revenue for the 2nd quarter was $0 which is a 0% increase from last quarter. This was due to me posting limited content into 2019.
Affiliate Advertising – Total revenue for the 2nd quarter was $0 which is a 0% increase from last quarter. This was due to me posting limited content into 2019 and needing to set up partnerships as traffic increases.
Course Income – These have yet to be created but are the long term goal of leveraging the Retirement Nut readers, providing high-quality courses that offer a great ROI on my time.
Take out some expenses for the website, some technical help, etc which amounted to $250 and the net profit for the site this quarter was -$250. Again 2019 is not going well, but plenty of room for improvement.
Book 1 Sales – Total revenue for the 2nd quarter was $2,305 which is down 23% from last quarter. This was due mostly to seasonality.
Audiobook 1 Sales – Total revenue for the 2nd quarter was $635 which is a 76% increase from last quarter. This was due to the audiobook now getting some decent traction.
Take out some expenses for the advertising for the period and the net profit for the first book was $2,350. I am continuing to invest in my second book, which should start generating income in the next quarter. I believe that by reinvesting in an even better niche, I should be able to double this income if not triple it into the end of the year. And of course, I pay taxes on the remainder.
Personal Passive Income
This goal of Financial Independence from my main career means I could stop allocating all my time to other people’s money and all my expenses would be covered by outside ventures, all of which are passive to some degree.
Overall Thoughts This Quarter:
There is still quite a lot of work to do on this blog. My distraction with launching my consulting agency has resulted in less time allocation for my passive income ventures. I need to do better.
My passive income investing was limited for Q1 2019 as I transitioned into working for myself. I did have some great luck again the stock marketing making $400 on some nice out of the money calls. My overall passive income for Q1 2019 was $2,750.
How passive income impacted my life this quarter:
Again, the face of financial freedom shows itself. I am writing this on the opposite coast, on vacation for the first time in a long time. It is nice to see some of my passive investments (both time and money) generate some passive income. Now it’s time to double down on my passive income journey!
Plans for the Next Quarter
Finally, publish my second book in an even better niche.
Continue preparing to launch my online course in another niche.