Oh No!!
It is just a short two more months to the end of 2009. And it seems like I have yet to hit my objective of $400 per month in passive income for this year!
How could I have fallen asleep and not keep track of my passive income earnings?
Last year, I managed to achieve my goal in a pretty short time simply by buying lots of REITs. This year however, the global financial crisis sort of through my whole REITs buying strategy off track. I got a little bit afraid of buying more REITs as most of my REITs had fallen in value.
I really need to get to work so that I do not fall behind my earnings goal. Otherwise there will be lots of catching up to do for the year of 2010.
Any suggestions please?
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As an investor, one should be doing Dollar Cost Averaging and dividend re-investment in a REIT that you believe in :)
ReplyDeleteSometimes, there's not much need to constantly make sure you get that amount. Plan for next year instead? Write a book and publish for sale? Many ways...
To me, growing a wealth nest is not only about getting lots of passive income from stocks... We focus too much on equities sometimes.... Instead, we should also focus our energies into generating more income streams elsewhere :)
Grow the means instead of only the absolute ;)
Thanks JW,
ReplyDeleteYou are correct. I am currently focusing on online sources of income too.
This however has only managed to bring in around $30 per month for me which is not alot I must say.
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ReplyDeleteI will bookmark your blog so as to learn a few tricks :)
Thanks for the comments Helen,
ReplyDeleteCongrats on your progress. I will like to see you come back here and contribute to the discussions here.
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