Our Current Income Sources
They say the average millionaire has 7 different income sources. In February 2017 when I first created this site we had 3. Work, Work and dividend’s. By becoming more conscious of different opportunities we currently have 6 different Income sources. Time to start thinking of a 7th source!
One of Our Jobs
1 – My Salary (Job) – I’m a landscaper by trade, love my job. I’m on salary now and get winters off to do whatever. Normally a trip, renos around the house and other jobs for extra income. Some years I do snow removal as well.
2 – My Wife’s Income (Job) – My wife is a dental hygienist, working full time.
3 – Dividend’s from our Stock and Etf Portfolio – By purchasing shares in existing dividend paying companies, you can create a very solid passive income. Check Out Our Portfolio here. Dividend’s Currently add over $5000 to our yearly income.
4 – Private Investment – We invested $50,000 into a family private investment – investing in various endeavors. This gives us a 12% return on capital, bringing in $500 per month or $6000 per year. Read more about the investment HERE.
5 – Ads & Affiliates – There’s some ads on this page as well as affiliates. Right now I have made $200- 250 in adsense and about 40 bucks from amazon……… haha
6 – Solar Panels – December 2017 we finally finished hooking up our solar panels. They are on the roof of our house. It consists of 30 panels and will generate 28.8cents per kwh. The whole system will bring in roughly $2500- $3,000 per year for a 20 year contract. read more HERE.
Conclusion
Well there ya have it, now that the panels are installed we currently have 6 different income sources. Who knows what the 7th one will be, but I tell you there will definitely be more than 7 by the time we retire. I tend to always be on the lookout for a great passive income at the moment.
Hey bud, I am very inspired by your blogs as I am a dividend kinda guy as well. I wish to get started on blogging and wondering what web hosting/domain provider you use? Also, was it easy to integrate Google Adsense? Lastly, what is the total annual cost to run this website?
Hey Steve. Thats great man, honestly I feel the website has motivated me beyond belief and i enjoy writing. My provider is Ipage (scroll down or on sidebar for a link) i get a little kickback if you sign up through my link.
I actually forget what my start up cost was. I think around 100 bucks but I need to renew the site soon for like 30-40 for the year.
Adsense is really easy watch a video or 2 on youtube to get it started up and then just copy and paste the code on each post you do.
Wish you all the best. Lmk if you create one, ill be your first cheerleader!
I wrote this post shortly after creating the website.
https://www.passivecanadianincome.ca/2017/03/08/why-you-should-have-a-website/
Cheers
Good work, the more income streams the better! I’ve been looking into solar panels at the moment too.
Hey income, thanks… while solar has been slow since installation (the panels were covered in snow) they have recently melted and now i can see some nice power generation. Good luck!
Hey $0.18 on Amazon is great, I haven’t made any on Amazon yet and I just want to make something so that they don’t deactivate my account!! That first Google Payout is the hardest to get, just like the first $100,000 in net worth is the hardest to get! 😉
haha how true is that! I remember those emails. I actually think they cut me off one time and i had to repeal it. Soooo many people bought stuff at Christmas from amazon, I didnt even think of it at the time but if they go there through your link and buy whatever you get a cut. I have told some friends that but unfortunately after christmas! I believe ya about that google payment, as traffic grows so does the ad revenue.
All the best Gym!
Considering getting into Rental Arbitrage some time in the future. It lets you get into the rental market without requiring a huge capital outlay.
hey Chris
I seriously have very little knowledge on this subject.
For us I’d like a rental or maybe just p2p lending. I would have to read more to get into this kind of area.
All the best
cheers