Passive Income Report: March 2018

Passive Income report for NZ personal finance blog Passive Income NZ

There is no point in having a goal if you don’t measure whether or not you have achieved it. My current goal is to replace my income with passive income. I have decided to split my goal into steps. The first step is to achieve a passive income of $25 per week. Once I have achieved this I will push for $50 per week, $75 per week after that.  

Goal 1: Earn a passive income of $25 per week

Splitting my goal up into smaller pieces will make it easier to achieve my overall goal. Smaller chunks are always easier to swallow! So to start of with I need to know what my passive income is currently.  I have always tracked my spending, and I know my income. But I have never really calculated my passive income. So here goes

Current Goal: $25 per week of passive income

So how does it all stack up? and have I achieved Goal 1?

Harmony

11.41%

Total Invested $16021.67

Weekly Passive Income: $35.15

Lending Crown

11.38%

Total Invested $3998.56

Weekly Passive Income: $8.75

KiwiSaver

5.10% last 3 months

Total Invested: $314

Weekly Passive Income: $0.31

Now I have a few other investments

Genesis Power

8.3% Interim Dividend

Total Invested: $4024

Passive Income: $6.42

Nikko Core Fund

29.19% Last year

Total Invested: $1492

Weekly Passive Income: $8.39

OneAnswer Fund

19.52% Last year

Total Invested: $1372

Weekly Passive Income: $5.15

Nikko Concentrated Fund

31.73% Last year

Total Invested: $1554

Weekly Passive Income: $9.48

Fisher Fund

21.38% Last year

Total Invested: $1428

Weekly Passive Income: $5.87

Savings

0.1% per annum

Total Invested: $16,000

Weekly Passive Income: >$1.00

Total Weekly Passive Income:  $80.53 pw

Wow! I have never calculated my passive income in terms of weekly return. There is no way I thought I was making $25 per week, let alone $80pw.

Goal 1: $25 per week Probably achieved 2016

Goal 2: $50 per week – Probably achieved 2016

Goal 3: $70 per week – Probably achieved 2017

Goal 4: $80 per week – Probably achieved 2017

Goal 5: $100 per week

This is the first time that I have checked the interest rate on my savings account. I really need to get on to investing this money into something that is actually earning decent interest. Currently, I think I need to diversify away from peer-to-peer lending. However, they are returning a good investment at this stage.

The main thing I have learned from this exercise is that I need to be far more active in my investing! I hope that you will take this away as well and have a closer look at your passive income, and where you stand. Breaking it all down to weekly income really gives it some meaning!

*Note: I write these reports to keep myself focused and honest on my goals.


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