This nice lump sum of $2,000 was created from renting my house out whilst being away. The house was sitting empty and the perfect opportunity to rent it out to a lovely couple came my way so I ceased the moment. I went back to my game plan of adding more listed investment companies to my portfolio, which I previously explained is the new updated strategy going forward where I am incorporating more professional expertise in the management of this portfolio for stock selection. However my preference for industrial blue chip stocks remains essential and fully franked dividends where possible. My estimated passive income is now $3,150, which means that I am 78% towards achieving my goal.
Technically my 12 month deadline was today, however I am actually owed some money (still) for work that I did over the weekends from a few months ago. Whilst I am waiting to be paid for this extra work, so that I can add it to the portfolio when it finally gets paid, I decided that I am going to keep going with The $1,000 Project for another 30 days. I realised that I am actually still feeling really motivated and energised to keep going and by giving myself another 30 days to see how much higher I can push myself, and hopefully get closer to my ultimate goal of $4,000 p.a. in passive income.
So bare with me for another 30 days and hopefully you will hear the results this time next month!
Canna Campbell is the founder and director of SASS Financial Services, a boutique financial planning firm. She is Channel 9’s exclusive ‘money expert’, founder of financial media platform SugarMamma.TV and best selling author of The $1000 Project and Mindful Money.