Finances

Passive Income: The Journey Begins

We all dream about having passive income streams. I decided that I am done dreaming and I am now working on making it a reality.

While my professional background is in research and education, I never really felt completely fulfilled in what I did. Then my daughter was born and my husband and I decided it made sense for me to stay home for a couple of years.

Now (2017) my daughter turned 3 and started preschool part time, which left me thinking about what I want to do with my free time. I don’t feel that three mornings a week (time when she is at school) is enough time to justify getting a job (and also because this is temporary and soon she will be going full time), so I have been trying to find other productive ways to fill my time. Some days I use the time to clean the house, other days I use to tackle my to-do list (which is always endless), and I have plans of going to the gym more regularly. But I confess that I feel guilty. Guilty for having the time to do all these things, when it seems the whole rest of the world is working.

We do okay with just my husband’s income, but with my daughter at school I feel that I should be doing something that will earn us money. We have so many goals that we could move forward with quicker if we had an extra income. However, the thought of waking up early in the morning and spending most of my waking hours doing something that is not fulfilling terrifies me. Then I start to think of the logistics of a household where both parents work. Once she is older, will we be available to watch her concerts and sports events (or whatever activity she chooses to do)? What do parents do with their kids once school is out (take a vacation at the same time? Camp for the whole summer?). And most important, how much time will we spend together as a family?

For several months now I cannot stop thinking that there must be another way other than the 9-5 routine. I have read about passive income, but usually disregard as something that only works for a lucky few. But as the clock starts ticking for me and I realize that soon I will have to make a decision as to what I want to do, I realized that I need to try. Try something, anything that can bring income and still allow me flexibility.

I’ve learned that I am at my happiest when I am working on a lot of different projects at the same time. Another reason why having one job to do for 40 hours (or more) a week frightens me. I wonder if it is possible to have a combination of part time jobs and passive income that will be able to take the place of a fulltime job.

I have read about several people that did it, and for most it was a mixture of persistence and luck. I can’t plan for luck, but I can plan for persistence and hope it pays off. At the very least in the end, if nothing works out I will be able to say that I tried.

The options for passive income are diverse: invest in the stock market, have rental income, start a blog, write a book, start and automate a business, develop an app, you name it. The one thing they have in common is that they require either a high financial investment or time investment up front (or both!). I also know that there is a good chance I will fail before I find something that works. So how do you feel ok committing so much into something that may not work? Personally, I decided to choose options where I can learn skills I find interesting. So with this in mind I decided to try my hand at creating a science related website, a youtube channel for children, and of course, this blog.

The first is due to my love for science mostly, but I also because although I never views myself at “tech-savy” becoming more knowledgeable of the online world is a desire of mine. I already know what I want to do and have been working offline on it, so now I need to make it happen online. I have to say that starting this blog has been a great practice, since at times, it has been extremely challenging for me to learn how everything works in the background.

The YouTube idea is actually a result of watching many hours of educational kid channels with my daughter and start wondering how they were made. I attempted making one video recently, and was pleasantly surprised by how much I enjoyed trying to figure out how to use a video editor program. The video did not turn out half bad, but I learned that natural lighting is just not enough. I am however now the proud owner of some awesome professional lights (thanks husband!) and just need to get organized in order to get started again.

Last but not least, I started this blog. Making this blog a source of passive income is something I want to thread very carefully however, because most of all I would like it to be a place where I can interact with others, and I don’t want anyone to think that I am doing it just for money (although I would be lying if I said it would not be nice if it happened). So far I have enjoyed every minute I devoted to it, from figuring out how to set it up (which I know need help, but I will get there!), to interacting with others (the best part of it!). I did start playing around with Amazon Affiliate, but I will only post products that I have and know well, so that I can give my honest opinion on them. I do believe they can be helpful to readers and if it can help the blogger as well it is a win-win situation to all involved!

I hope I can interact with others that also have passive income goals that are either beginning like me (and we can walk this journey together), or people that may be a little ahead and are willing to share some tips with those of us that are a little behind. I am looking forward to interacting with all of you as we learn how to create the life we want.

Please feel free to email me and/or leave a comment. I would love to hear from you!

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9 thoughts on “Passive Income: The Journey Begins

  1. Ah passive income…. basically the dream 😀 As a fellow SAHM, who can’t handle downtime, and loves a million things going at once, I totally get it. I am always overfilling our time, but when I low down, I get bored (or feel guilty for having time too).

    There’s nothing wrong with having a blog with the intention of making an income. So long as you also make sure to stay true to you, never changing things just to make money.

    I’ve loved your interactions on my blog! And did I also see you comment on an EBA post? I’m doing the course when it comes up 🙂

    The blog looks great! Can’t wait to see more!

    1. Thanks Ember! It is so hard for me to choose just a couple of things to focus on, but I think I am on the right path now. Being able to have a schedule that is flexible so my family can be a priority is very important to me. But I am trying not to put a lot of pressure on myself and just enjoy the process for now (all that goes on in the background in order to create and maintain a blog can be quite overwhelming at times!).

      I would like to get an ebook or take a course, but there are so many in so many different topics that for now I am just making a list and waiting to see where this blog leads me. Pinterest is a topic that interests me (since I already spent so much time there anyway!).

      Thanks for stopping by! I have you on bloglovin’ so I make make sure I don’t miss any of your posts!
      Rachel P recently posted…Passive Income: The Journey BeginsMy Profile

  2. Hi Rachel,

    I know someone who earns passive income 🙂

    So cool that you are taking this journey. Fun to watch.

    I’d say, follow your passion, for the free content you share, and then monetize those passions to find income streams that energetically work for you.

    I love writing. So I wrote 126 eBooks, offer freelance writing and various consulting services, and have wrote a few courses too. Ditto for audio and video; I love speaking in front of the cam, so I created one blogging audio course and one course mixing all 3.

    Save the freelance writing and consulting streams, all other are passive income, and I just received my Amazon author monthly royalty checks today.

    Keep living the dream and keep following your passion. It opens so many doors.

    Thanks for sharing.

    Ryan
    Ryan Biddulph recently posted…10 Tips To Go From Blogging Low Life To The Blogging High LifeMy Profile

    1. Thanks for stopping by Ryan! I feel I just got visited by royalty!
      I was just discussing this with my husband today (after listening to one of your podcasts). I would love for passive income from this blog and our other ventures we are starting, but I want to make it about the journey and enjoying the process first and foremost. You and Kelli are definitely inspirations!

  3. Hi there!
    I’m on a similar path. I quite recently had a baby and for some next years I am a stay at home mom. I have the “get 1000€ of passive monthly income” as one of my goals I am currently pursuing mainly by investing. I have not posted much on that topic yet, but I will.
    Thanks for sharing the idea of Amazon Affiliates. I will put this on my to do list also.

    1. Congratulations on your baby! I just started following your blog. Investing is unknown and scary to me. That is more my husband’s cup of tea, but maybe following you will get me excited 🙂

      1. What can get you exited is the stories of others who already achieved FI. I stayed reading Mr Money Mustache ‘s blog about his journey. Retired at 30. So sad that I’ve wasted so many years:’))

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