2019 Passive Income Update: $6,065.48
In January 2019, I wrote up a post in which I detailed the goals for MoneyByRamey.com. One of this years goals was to achieve $6,000+ in yearly passive income.
Midway through 2019, this goal was achieved. Through a build up in the MoneyByRamey.com dividend portfolio and through interest income, we were able to surpass the $6k mark.
I love dividend income and I am constantly building up the portfolio; it is indeed trending nicely. However, I am also on the lookout for ways to improve our passive income as well.
What’s next in that department?
The Future: Active Income Ideas
Website Design
Currently, all my efforts have been focused on the MoneyByRamey.com build out and consulting at Red Wing Shoes.
This has left little time for the building out of my website design division of Ramey Consulting. However, this will be changing shortly.
I already have a great team developed and will look to leverage this team by beginning to draw leads and build out websites. My goal is to be a project manager of sorts – bringing clients and the technology implementors together.
Be on the lookout for more developments with this business in the August/Sept 2019 time frame.
Consulting Work
Even as I begin to build up the website business, I am still on the lookout for positions where I can come on in a consulting capacity. The end goal is to find Senior Financial Analyst or Data Analyst positions where I can combine my financial + technology acumen.
I have a few leads in the pipeline and will hopefully have more information on this in the coming months. Stay tuned.
Basketball Coaching & Teaching
Last but not least, I am a basketball guy by trade and want to develop this into a way to help others while building another income source.
I really enjoy teaching the game of basketball. I am always on the lookout for ways to be involved in the game. The past two years, I was an assistant coach at my high school alma mater.
This year I’m not planning on doing that, but I am looking to develop some ideas that will capitalize on my knowledge of the game. One of those ideas is building out a website which teaches the game to players. I have the domain name bought; now it is time to begin working on content.
The other idea is to begin my own AAU team and coach on the weekends. This is a time-heavy commitment, especially on summer weekends – but considering I love the game, I’m queuing up this idea for the spring/summer of 2020.
The Future: Passive Income Ideas
Duplex
I am excited to announce that I am currently looking into house ideas. One of the main ideas on the forefront of my mind is to buy a duplex or triplex and rent out the other units.
I have been watching the markets for some time, and while I believe the single family Minneapolis market is overpriced, the duplex market is actually becoming somewhat lucrative.
Nothing has caught my eye as ‘offerable’ yet, but that could change at a moment’s notice. I have a stockpile of cash, and I’m ready to look to deploy that capital into a good duplex if I can find something soon.
Investing Book
I am getting very close to finishing my book on a dividend investing strategy. The goal will be to roll this book out to my readers and the general audience at large.
I’m hoping that this will become a great staple product on my website, as much of what I write about concerns investing – more specifically dividend investing. Look for this to be rolled out by the end of July/Early August 2019.
MORE Dividends
Last but not least, I am always on the lookout for MORE dividends. I love investing in the stock market and see it as the single greatest wealth generator that modern-day investors have known.
I will continue to utilize my forward dividend calculator. And proprietary stock screening tool to find stocks ripe for investment potential. As always, I will update you, my readers, on the progress in my journey towards Financial Freedom.
What active or passive income ideas are you currently pursuing? Get the conversation started by commenting below!
