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Passive income

January 9th, 2008 at 06:04 pm

Broken arrow mentions passive income in one of his recent blogs.
I just checked and I earned close to $25,000 in passive income for 2007. That is income that I did not have to work for, but instead is just interest income. Of course, as rates go down this year, this income will go down, but still I never thought this day would come!

Posted in Uncategorized | 6 Comments »

6 Responses to “Passive income”

  1. Aleta Says:
    January 9th, 2008 at 06:10 pm 1199902203
    1199902203

    That is absolutely fantastic Ima. The only tax you'll pay on that is income tax, not social security/medicare. Although I know that the rates are down, your interest money from last year will be earning interest this year. For instance, lets say that as you say, you earned $25,000 in interest; at 4% interest your last years interest will earn $1,000. for this year.

    Hopefully, I economy will start picking up in the not too long future.

  2. threebeansalad Says:
    January 9th, 2008 at 06:13 pm 1199902380
    1199902380

    Wowsers!

  3. Broken Arrow Says:
    January 9th, 2008 at 06:34 pm 1199903696
    1199903696

    Uh, yeah, that's really scary Ima. I hope to be able to do that myself someday. Big Grin

  4. luxliving Says:
    January 9th, 2008 at 06:38 pm 1199903882
    1199903882

    That is awesome Ima Saver!! Those years of saving efforts do pay off after a while, don't they??

    Congratulations! Sadly, that is more money than many families are living on today with both people working at minimum wage jobs.

    I know it took years of perserverance on your part and it has to be a fantastic feeling!!

  5. Nic Says:
    January 9th, 2008 at 07:37 pm 1199907420
    1199907420

    Awesome!!!!!Smile

  6. scfr Says:
    January 9th, 2008 at 08:37 pm 1199911039
    1199911039

    That's wonderful!

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