Financial Goals

As part of my quest to rid myself of my day job, I’ve decided to write down my finan­cial goals.

6 month goal: $1,000/month in pas­sive income (Jan­u­ary 31, 2009)
1 year goal: $1,000/week in pas­sive income (July 31, 2009)

I wanted goals that were achiev­able but would require me to grow. I also wanted my goals to reflect that I do not want to earn the extra money by doing extra reg­u­lar work. This should be money gen­er­ated by invest­ments, affil­i­ate mar­ket­ing, ad rev­enue, or other pas­sive sources, not from a sec­ond job.

I’m cur­rently at around $300-$500/month in pas­sive income. It varies quite a bit based on traf­fic and the sea­son, but it is very reliable.

Some things I’ve been look­ing into in order to increase my pas­sive income are:

• Pros­per loans
• High-yield sav­ings
• Emerg­ing Mar­kets Funds
• Niche sites with affil­i­ate marketing
• A few new web­site ideas

As I start to try out dif­fer­ent meth­ods, I’ll post on my suc­cesses, fail­ures, and things that I’ve learned along the way.