Mar 31 2009
How Much Passive Income Do You Need?
How much passive income do you need? Are you trying to replace your current income, or are you simply trying to supplement what you already make?
When you decide on how much you want to make each year, it helps to break things down into manageable chucks. I prefer to look at things on a daily basis. If, for example, I wanted to earn $10,000 this year to help pay my mortgage down. I would not focus on the $10,000 amount. That would seem entirely too difficult. Instead, I would divide that amount by 360 days (assuming for a few days of slacking). $27 a day is a realistic income goal. Once you know your target, you can begin to develop a plan to get there. For instance, here are a few easy methods to help you see the potential:
1. eHow - Once you have around 100 articles published, you can realistically earn about $2 per day. Some days will be higher, some lower.
2. Article Marketing - If you would create a new blog, or Squidoo lens, every month, it is conceivable that you could make one sale a month (with a commission of $40). Do this twelve times, and you would be making about $16 a day at the end of the year.
3. Blogging - Create a blog in a niche that you enjoy. Produce quality content and get a small page rank. Once you have done this, sell advertisements on your blog. You could easily sell four 125×125 spaces for $10 a month (with a PR3 site). This would add another $1.35 to your daily totals.
4. Paid Posting - Create a small blog network of your own and try your hand at paid posting. It is extremely easy to make $8 per day doing these types of posts. It is even easier if you have a number of blogs in which you can make the posts relevant.
While some of these ideas are not truly passive, they can help you reach whatever income goals you desire. Develop your own plan and get to work!
