Passive Income Update

Amazing, when you stop to look at your Passive Income like this. Every dollar in this chart, comes from no effort of my own. Thus, the passive reference.

Honestly, I am so happy with our Passive Income Streams. They, for 2008, will earn more money then I. This has been the goal for a long time. And the reason for my last post on debt. I would not have these numbers, without the debts we took on.

Well, except for the cash back on my credit cards and the one time event extra flows. I seriously doubt that our interest would be there without the help of the other income streams.

We are currently in a 10 year window that will eliminate the debt where these incomes derive from. With a commercial property note scheduled for payoff in just over 8 years about 10 years ahead of schedule (yea!). And the 2ND mortgage on our home, carried so that we could hold the mortgage on our last home, to be paid in just under 10 years. Although, I suspect we could eliminate it in 5, if we stopped living again.

The thing is, life is short and we have missed so much. Our kids are almost grown and the time can never come back. Money is a commodity - family is EVERYTHING!

Note payments for both of the above and our monthly expenses are included in our Monthly Goal. You may notice it declined over my last publishing. This comes from my rate adjustments that my banker put through for us.

I remember when I supported the kids and our home alone and my monthly expenses were under $2000. $900 of that was a house payment and $500 was child care. I have no idea how we made it. I always joked - we lived on less then the deductions the government gave us. :-)