This is my passive income section. It’s the place where I will periodically post my passive income reports. For those that aren’t familiar with passive income, here’s the definition:
“Passive income is earnings derived from a rental property, limited partnership or other enterprise in which a person is not actively involved. As with active income, passive income is usually taxable. However, it is often treated differently by the Internal Revenue Service (IRS).” – Investopedia
What does that all mean? It means that with little to no work you are producing an income. Usually the work can have an upfront cost, but then you can continue to benefit from for years to come.
In my case, I’m fixing my goal toward dividend investing as my passive income. This is my primary focus (for now) so that’s where I’ll begin this journey. There is definitely potential for trying to be a landlord in the next year or two as I have yet to take that step. There may be other avenues I discover along the way too!
Since dividends are typically based on quarterly payouts, that’s how I’ll breakdown the numbers and then by monthly since that’s how the bills get paid!