Towards Prosperity

We're doing okay financially.  We have 10 rental properties, a six-figure stock portfolio, and we live in a mortgage-free home.  But we're not quite financially independent.  I couldn't stop working and just live off our assets.  It's time to change that.  I'm going to have fun doing so.

Having passive recurring income is the way I will reach financial independence.  I figure if I can consistently bring in $10,000 per month in passive recurring income, I will have enough to both live on and to add to the nest egg for future needs. 

Passive Recurring Income - Today

• Dividends from stock:  $1,500/month
• Fully occupied rental properties (including the ones held in my retirement LLC):  $8,200/month

At first it appears that I almost have the $10K/month I need.  The problem is, the rental properties are rarely fully occupied.  When they are, there is bound to be a tenant who is behind on rent.  Likewise, dividends can be cut, which is out of my control.  Therefore, I need a cushion above and beyond the stated $10,000 goal that guarantees I always make my monthly goal.

Passive Recurring Income - 2020

• Dividends from stock:  $2,000/month
• Rental properties:  $10,000/month

I'm giving myself less than two years to increase passive recurring income by $2,300/month.  Stay tuned.