It’s been a while since I covered a passive income & portfolio update. I haven’t tracked in a few months. After getting an email from Personal Capital, I checked recent transactions across my accounts. Damn! This is going to be a December to (NOT) remember!
Overview of Income
In December, I received $15,986 in passive income so far this month.
This is a 178.9% year-over-year (YoY) increase from last December.
Despite the strong headwinds in the market the last few months, my portfolio did quite well.
To be clear, I also took substantial losses in capital with the fluctuations in the market.
Staying The Course
I’ve been tempted to sell off some of my gains. I also cringe at seeing some of the large swings in the market.
Everyone – including me – feels good when the market is a roaring bull. I don’t have as strong as a stomach as I used to during the bear market that began over 10 years ago.
Perhaps I’ve grown weaker in my old age at 34 now. Being a n00bie in the work force out of college at 23 makes you feel invincible until reality smacks you across the face.
Despite current feelings, I haven’t really done anything with my long-term portfolio. And that’s been part of the success: I haven’t screwed things up (so far) by making irrational decisions.
Now What?
Overall, December 2018 alone accounted for more passive income than all of 2017 combined.
When I realized this, I smiled. But then I closed my eyes and thought…
What’s The Point – Why Give A F*ck?
Creating a passive income machine takes a long, long time. It took years of working hard, saving, investing, and planning. Yes, in one month alone I earned more passive income than the entire prior year.
But what does that get me or anyone else? Without meaning, goals, and purpose, it’s worthless.
I received some messages from friends and complete strangers when we recently discussed 5 things I wished I learned sooner.
These areas really do stick out for me – and many others as well:
- Health
- Family
- Friends
- Purpose
I’m still struggling on this last one a bit. Admittedly, I question many things about myself.
Yes, I know others do this as well. Like some others, I’m very self-conscious. I deeply care and think about what others think about me – especially colleagues, friends, and family.
More importantly, I don’t want to disappoint them. I don’t want to be a bad co-worker, friend, uncle, brother, or son.
Wrapping It Up
A high target net worth, growing streams of passive income, and seeking financial freedom are simply worthless on their own.
They’re meant to enable you to focus on the most important things in your life.
I used to think if I wanted “less stuff”, I would lose my drive and passion. Results would be easier to achieve.
Alternatively, if I wanted “more stuff”, I thought I’d keep driving myself into the ground – and to what end?
Looking Back and – More Importantly – Ahead
For both personal reasons and general skepticism around many variables, I almost know next December’s passive income won’t be nearly as high. And you know what? I couldn’t care less.
Over the last few months, so much physical and emotional change has occurred. I keep going back to the same cliché, but personally relatable, lyric in my head most days:
“You’ve lost so many times it hurts
But failures made are lessons learned
Cause in the end what you are will be much more
Than you were”
For better or worse, only time will tell. It’s about continuing to move forward and finding balance. It’s never-ending.
Readers, how have you year-end goals and objectives turned out? Have you had any changes or experiences this year that put you on a different course?
Related:
Less is More: Updated Balanced Dividends Ecosystem
Backstreet Boys!? Pre-2019 Goals & Planning
Post-Fat Kid Circle of Self-Circumvention
Our favorite free financial tool is Personal Capital. We use it to track our net worth, manage our spending & savings, and to monitor our investments. It’s simple and free to use.
Great article. Congrats not only attaining an impressive gain on the finances with the passive income year over year, but more importantly, taking inventory on what gives one a true purpose, and balance, in life.
At this time in the holiday season, I offer a slightly modified quote “To be rich in family and friends is to be poor in nothing.”
Thank you.
And I appreciate the quote.
Thanks for reading. – Mike