Taking a hiatus

Hi everybody,
I know that traffic has dwindled due to less frequent postings from me.
I just became too busy with life.
But, I wanted to post a note here, with an update and not leave things hanging.

Currently I am considering what direction to head down next.
Financial blogging is one possibility. I have certainly accumulated a lot of knowledge, and life experience around the subject. If you are interested in learning what I have learned, leave a comment here, and/or drop me a line at jasonwisdom@gmail.com. If there is sincere interest, I will continue/proceed.

In case you are curious, here are my passive income totals for the first five months of 2012:

January: $2,261.48
February: $3,818.05
March: ($47.11)
April: $1,368.59
May: $3,077.30
June (not yet compiled)

(Expenses have risen for a number of reasons.. new apartment which just works better for me, a new job which required me to buy some new clothes, a couple of vacations and continuing to invest in what I’ll call my holistic health)

Sources of passive income have included the following:

Stock dividends (34.1% for the first five months)
Covered calls (40.1%)
Cash-secured puts (24.2%)
Interest (1.6%)

I will continue implementing this system for myself…because it works. It is turning into a nice side stream of income–which I do not spend!! But instead add to my principle.

Again, I am happy to share what I have learned, with anybody who asks. Feel free to write my personal email address at jasonwisdom@gmail.com. Share with me your stories, intentions, goals and dreams. I love connecting with quality people.

Jason

Month end: January 2012

A little late, but here is a recap of the first month of the year of the apocalyptic prophesy: 11 more months to go…tick…tock…tick…tock… live for the moment!!

Total passive income was $2,102.21, and my total expenses were $4,209.23. Very close to 50%!.

As with every month, here is the breakdown:

Passive income:

VehicleAmount
Covered calls$1,939.23
Dividends$242.25
Interest$-79.27
TOTAL:$2,102.21

Expenses:

ExpenseAmount
Food & Dining$879.76
Rent$750.00
Bank fees$487.25
Travel$421.11
Clothing$417.06
Cell phone & utilities$365.85
Public transit & taxi$359.18
Health & fitness$127.40
Personal care$92.88
Disability insurance$80.40
Entertainment$72.90
Business services$60.14
Other$51.40
TOTAL$4,209.23

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What I have been up to

Hi everybody,

An update is warranted, as I have not updated this blog on a regular basis.

Basically, I have been busy working. Found a new job starting the beginning of this year, and so far they have had me travel to three different states – in the first month! While it is grueling, I actually like it very much.

So, between a full-time job, retaining a part-time client, my Toastmasters club (of which I am an officer), and putting some time into having at least some personal life, this has been on the back burner.

However…I HAVE been focusing greatly on completing this project: being able to live passive income financially free. And I do have my months budgeted out, every item rounded to the nearest $5. I still have to live, so I’m not going Ramen noodles. But, every month I AM making progress.

So, for this reasons, I do plan to continue this blog. And while updates might only be 1-3 per month… come back on a regular basis, to see how I am doing and to learn from the example that YES this is possible!

Until next time,
Jason

Month end: December 2011

End of the year—how did I do?

Total passive income for the month of December 2011 was $418.92, and total expenses were $6,545.23.

On the surface this looks terrible, but three things are worthy of note:

  1. I had a special client emergency, and made several trips upstate which got factored into month-end expense totals.
  2. A special situation presented itself, about which details are given below.
  3. The third month of the quarter is always low when it comes to my PI vehicles.

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Internet marketing is NOT passive income

“Build a passive income business on the internet.”
“Making passive income online, one website at a time.”
“Blah blah blog teaches you step-by-step how to create online passive income streams with information product and affiliate…”

…and so on.

These are near-exact quotations taken from search engine result description text, in response to a search for “passive income.” These quotations can be found without even going into the websites. The quotations have been ever so slightly tweaked, to protect the guilty.

The problem is they are painting a false picture of what is “passive income.” When you are blogging three times a week, cranking out hundreds of products to see what sticks, attending networking events to hype your brand, attending seminars and watching webinars to keep up with this week’s current techniques, and constantly fighting to defend your political capital against would-be detractors who threaten your income stream…it ain’t passive.

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Month end: November 2011

During this past month, I saw $1500.25 in passive income, and $4419.30 in expenses.

Expenses are coming down!!

$1,500 is about average for my “middle” month in the quarter (2/5/8/11).

Major one-time variations are no rent for this month, due to previous month’s payment in advance ($750/month). On the expenses side, food/dining and utilities were unusually high, one due to people I was meeting that month, and the other due to startup virtual utility services (mobile broadband, VOIP subscription, etc.).

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Book review: The Millionaire Next Door

The Millionaire Next Door

If The Richest Man in Babylon is the first book I would recommend to anybody interested in becoming wealthy, The Millionaire Next Door is undoubtedly the second.

I once saw co-author William Danko speak at an event, and it is funny he was probably the wealthiest person in the room, and he was the also the only one who took the stage who had no expensive product ($2,000+) to sell. It is beyond ironic that so many gurus of wealth creation need to hustle crowds because they are still trying to figure out how to create wealth for themselves. But I digress; on to this most wonderful book.

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Month end: October 2011

This month, my passive income totaled $3,343.81, and my expenses totaled $6,848.05.

On the expenses side, this month was rough due to costs incurred moving into a new apartment, including final month’s rent for my existing apartment, first month’s rent for the new apartment, security deposit for the new apartment, and paying for movers. However, some mover charges did not register until November 1st, so they will be counted in November’s totals.

On the passive income side, this month was good to me because my existing Apple call option expired, and the stock has been so volatile right now that I could make a bit of bank writing a new covered call contract. This month was the second time my passive income topped $3,000, in fact this was my new all-time high.

Other positives are that my rent for November will be $0 (so long as I stay here), I will have a returned security deposit from my now previous apartment, and future month rentals will only be $750 per month—$25 per day! $25/day is the cost of staying in a bed & breakfast in a developing country. I can live with that amount.

The detailed financial breakdown is contained in the full post:

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