Passive Income Report: March 2018

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.


Subscribe For the Latest Content!

Subscribe to Passive Income NZ — get ahead with the latest post emails directly to your inbox. As a bonus, I'll send you a FREE Personal Finance Resource Kit, so you can start your Journey to Finanical Freedom.


Visit my Resources Page to find out how you can get 50% off Pocketsmith!


Use This Link to get 1 month Free on any new car insurance policy

Information presented on the Website is intended for informational and entertainment purposes only and is not meant to be taken as financial advice. Some of the links above are affiliate links, meaning, at no additional cost to you, I will earn a commission if you click through. Please note that I only recommend products and services that I have personally used.

2 Shares

Leave a Comment