April 8, 2010, 5:00 am

Is There Anything Better Than Passive Income?

by: The Financial Blogger    Category: Alternative Income
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As you may already know, I own and write on several websites. In order to be able to do this, I must be very consistent with my writing schedule. It also helps to have several interesting ideas racked up on my laptop so I don’t waste too much time messing with the inspiration fairies in my head.

But this morning, the fairies have taken over. They made me close my ideas notepad and open a blank word document. They want to make my fingers dance across my keyboard because I really feel happy. Do I have a big announcement to make? I am going to buy another blog soon. Not really. I am just happy for what we (my partner and I) have done over the past 3 years.

My best friend (and partner in this adventure) is currently on his honeymoon in Vietnam for 2 weeks. During his wedding, I had the chance to meet several of his friends which I had heard about all these years but never had the chance to meet. This came to me as a true inspiration; talking about passive income, about creating your own business. Most of them are looking toward the avenue that we are already on.  We jumped in the car and are driving fast on the information highway.

For once, I guess I have to consider myself lucky. I hate to say this because I don’t believe much in luck. I do believe that when something good happens in your life, you are the maker of this event. Same thing if your life sucks 😉 But this time, I guess that all the right conditions have united to make our project grow and, maybe one day, drive us to financial independence.

For the past 12 months, each time I felt nervous about my budget and my financial obligations (having a wife at home is marvellous, but it adds its share of financial pressure), my Blackberry was there to comfort me. The little “bzz bzz” in my pocket each morning telling me that I had received money from Paypal is amazing.

I remember my latest shopping frenzy; I went to buy some nice clothes for Christmas. I hadn’t done this for a while and I was looking at the young lady piling up my clothes and thinking about how big the bill was going to be. While she was packing up my stuff, I saw the rude number, $375, on the computer register. My Blackberry was there once again to comfort me: I received an email telling me that I had received a payment for $650… I guess this is what we can call passive income!

Don’t get me wrong, it doesn’t happen overnight. Before my Blackberry buzzed to tell me I was making money, before I could even afford to pay for a Blackberry, we worked many hours without earning a dime. While I was doing my MBA, nobody could understand why I would put my books aside and use precious paper-writing time to simply open my laptop and write “meaningful” posts about personal finance.

I am still far from being able to live off of my online income. However, it now pays for a lot of things in my life and will definitely help me pay back the loan from my parents in a few months time! I guess this is the perfect balance for now: I’m not working like an idiot, I still have a social life and my kids still remember who their father is while I make extra money in the meantime!

Actually, my only regret is that I had not started this earlier. On the other hand, I now have a safe career and a very promising source of passive income growing at the same time. Today, I am truly grateful. This is a feeling I wish for you all. Enjoy your day with a smile!

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Comments

This is an inspirational post… I’ve been thinking a lot more about passive income especially since I read the book “Rich dad, poor dad”. The book itself is filled with a lot of gimmicky information but the basic premise is sound, I believe.

Seeing that a regular guy can go out and achieve it through hard work alone shows me that the dream is still alive.

Keep up the good work; you are inspiring a lot of people out there!

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I know how you feel. It takes a while to get site structure etc set up with a blog…However, I look at it this way. If someone picks a topic they really like and shares quality content AND sticks with it; think of how much passive income they could create over 5 years? Eventually you could even scale back and just earn the passive income while working on things you like.

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by: The Financial Blogger | April 9th, 2010 (4:41 am)

@Kevin
I actually loved the book Rich Dad, Poor Dad. I don’t really care if Robert is rich because of his book or was rich before. The book opens your mind to a different philosophy and I think this is what is the most imortant point!

@Mike
I think there is no limit on what you can write about finance. There are always news, new products, new strategies, new events. I’m sure I will still be blogging about finance in 5 years 😀

Great, inspirational post! I’m a long ways off from living off any passive (or dividend) income myself, but it’s an educational and rewardin journey I feel I’m on. Hopefully, I too, can be and feel as lucky. Cheers!

Great post!

No, I don’t think anything is better than passive income! Maybe passive income handed on a platter with a side of chocolate cake. =) It’s nice though that you get a notification for it. It’d certainly bring a smile to my face if the brokerages notified me that my dividends were paid out.

Congratulations on making a healthy passive income from blogging!

by: The Financial Blogger | April 12th, 2010 (6:09 am)

@ Youngandthrifty,

I’d take a great Starbucks coffee along with the cake, please 😉

This article is so refreshing, it was a real pleasure to read it!

The hardest part in passive income is the initial effort you have to produce, whatever this effort is (buy a property, setup a website or anything else). Once this part is complete, then you can relax and enjoy!

Of course, there is always some work to provide along the way (quite a lot in the case of a blog actually), but if you started your business in a field you like, this maintenance work should not become a burden. On the contrary, you will most probably have a good time!

Even if this income is far from covering all your expenses, at least it will cover some and maybe allow you to afford some extra comfort.

Nice teaser… Just picked up your feed. I get the passive income from advertising, financial assets, & selling products… am I missing any other source of passive income? Looking forward to reading m;ore of your stuff!!

by: The Financial Blogger | April 27th, 2010 (4:32 am)

@Barb,
thx for your nice words.

As for passive income, I’d say that you can build pretty much any companies to create passive income.

Rental properties could be another great options.

glad to see you around!

Hey TFB.. not to be intrusive, and if I am.. certainly feel free to ignore my comment.. but just curious if you could advise to how you ended up making some of the better income type of services that you use.

I blog quite a bit myself, and think I actually do fairly well for myself by doing it – but always looking for tips and information on how to increase my passive online income.

Thanks a lot, keep the great posts coming!!

Thanks for this. I’ve recently started a blog, and its nice to have the inspiration.

[…] The perils of imperfect information. The Financial Blogger from The Financial Blogger presents Is There Anything Better Than Passive Income?, and says, “For the past 12 months, each time I felt nervous about my budget and my financial […]