LIVING OFF DIVIDENDS & PASSIVE INCOME

Making Our Way has a great post on how people think they can start a personal finance blog and expect to make enough money out of it that they can quit their jobs!

Unless you getting 50,000 hits a day, thats not going to work out for you. And unless your a marketing expert, SEO guru and a great writer with interesting content, that really isn’t going to happen.

Instead you should try to make $200-$500/mo from it and consider that to be one of your multiple income streams. If you can develop a dozen income streams each paying you $500/month, you’ve set yourself up for financial freedom. It may not be enough to live luxuriously, but at least you won’t starve if you lose your job, or want to take a year off to pursue your passions.

Other examples of income streams can be paid off rental properties, stocks that pay a dividend, Canadian income funds (also oil & gas funds), actual oil & gas projects, equity stakes in a business, trust deeds backed by real estate, and micro loans(like prosper.com).

The more diversity you have, the safer your total income will be!

• Reporting From Omaha 2: The Annual Berkshire Meeting The meeting started off with a humorous cartoon video of Charlie Munger running for US president. There was also a short video of Warren Buffett playing a role on tv-soap "Days of our lives" and Susan Lucci actually appeared live at the meeting. Rather than a boring annual meeting discussing......
• Tax Benefits Of Passive Income Since this is tax season and this site is dedicated to earning passive income, I thought I should post something about the taxation of passive income. From the IRS's point of view passive income is any income that you get without having to to materially participate in. Examples of passive......
• 1st Carnvial of Dividends & Passive Income Welcome to the very first edition of carnival of dividends and passive income. I'm going to kick it it off with my own submission on How I Made $2,667 in Passive Income In March. Of course, if you've already read it, you can read about the Tax Benefits of......

• Personal Finance Magazine Portfolio For Beginners Growing up, I took little interest in the subject of money. I've had a job since the day I turned 16 years-old, and I spent nearly everything I earned those first ten years! Recognizing my lack of a solid financial education, I started to look for ways to learn about......
• Top 3 Things to Learn About Personal Finance Regardless of your age, position in life, or your financial goals, there are a few things that we all need to learn about personal finance. Once you have the basics down, everything else can just flow naturally. These tips are the strong foundation upon which you can build your financial......
• Organize Your Personal Finances in No Time by Debbie Stanley If nothing else, the state of the economy has shown that millions of people don’t have a good grasp of how to manage their personal finances. There are hundreds of books written every year on the subject and yet, this concept still seems to elude many. Some books are either......

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