Monday, July 05, 2010

Goal: Generate $500 in passive income/month

For some reason, I was feeling kind of tired and bored at work today. I usually end up spending atleast 2~3 hours in over time at work, but decided to go home early. It's 6:15 pm right now and it feels great to be home early-- it actually feels like I have an evening to do something on my own now.

The truth is that I get paid fairly decently for doing over time work and with my boss's permission I am able to log up to 55 hours/month, which is a great help financially, since it significantly increases my savings rate. Though I haven't written about it, I would argue that a person's savings rate is a very strong indicator of a person's financial health.

Though working hard and saving lots of money is a good thing, I am paying for this feat in time and right now, I am starting to value my time more and more over money. So what I would like to do is to start supplementing my main income with a passive income stream to cut down on my overtime hours so I can have my evenings to myself and allow me to work less.

My goals are to find ways of attaining this with a minimal investment cost so I will be looking toward either financial tools or producing something in the software domain that I can sell passively online.

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