How to Bring in $24k of Passive Income by Q4 2023

Tracking TNFG’s QTR 4 2023 Passive Income Progress

The fourth quarter numbers are in. We closed in on $24,000 for the year for an average of $6,000 per quarter (or $2,000 per month). Inflation is still here but it seems like the market is getting better. Unfortunately, household economic pessimism is on the rise. Flanked by mounting median household debt with diminishing savings, 2024 will be an interesting year.

Analysts are split on the direction of the market, however, it’s becoming clear that we are entering a new super cycle. With healthcare emergencies and additional car issues, we weren’t able to meet our investment contribution goals of $100,000 in 2023 which could have increased our dividend output. Debt-to-income (DTI) remains very healthy.

As always, no matter the challenge, my wife and I lean toward Gratitude. Too often we forget that these are minor problems in comparison. As such, our day-to-day growth is not and will never be centered on money. Instead, it’s about the journey. Coming off of ringing the new year in Rio on the beach, I can firmly say that the world is bigger than we know.

Opportunities are boundless.

Final Q4 Passive Income Total: $6,356.18 (Down 10.13% from Q3)

Almost non-existent consulting in QTR 4 – $630

Wow. We went from two consultation side hustles to zero. My wife’s passive consultation was a nice boost in 2021 but she quit! Dang quiet quitter. But at least, this means fewer taxes for now as we focus on home renovations.

The financial literacy online education boom of 2020, is all but none existent. What was an altruistic and honest approach to personal finance turned into a desperate ‘Tic Toc’ game of SEO and influence with zero substance.

All of this is giving Vibecession. Be careful who you follow.

I’m looking to head back to college for the Certified Financial Planner (CFP) accreditation in the future. Maybe that will bring in more money? At a price tag of $7,500, it’s a tough call. My wife, on the other hand, is looking for a bigger payday with better flexibility. Ultimately, we are sticking to traveling and our net/max financial plan.

See how the Business Cycle is tracking based on Fidelity’s Q4 estimations:

Passive Income Producing Side Hustles: $4,200

Well, I didn’t knock out the goal of creating e-books (again). We’ve been traveling and I’m being extremely lazy (the latter is more accurate). From Mexico to Brazil, the last travel season was dope and expensive.

Time to get my priorities in order. Book revenues could be as low as $500 per month, but it would still be nice. I could be like all the other financial influencers with a book.

Even an investment of $500 per month at 8% can turn into $1 million in 34 years.

That’s easy wealth.

Additionally, I think it gives creatives like me more credibility if I became an author even though I’ve written over 500 blog posts.

This passive income is proving to not be that passive at all.

Rental Income: $4,200.00

Our Rental RE income brings in $1,400 per month. However, I didn’t talk about the expenses which totaled $3,450. This includes $775 on the mortgage; $290 for the homeowners’ association fee; and, $120 for Xfinity.

Net result about +$645 for the 4th QTR. After expenses ie plumbing and some other fixes, it’s a struggle to be a landlord. The silver lining is that I have great tenants. Here’s hoping they are still here for next year. All this to say, it’s not that sexy to be a real estate investor. Nor are efforts that passive.

Read, “How To Build Wealth by Investing in Rental Properties.”

Real Passive Income through Investing for Dividends: $1,526.18

In total, we brought in over $1,500 worth of dividends in the fourth quarter through our five investment vehicles.

These vehicles include one M1 account for our after-tax portfolio, two ROTH IRAs, one HSA, one traditional IRA, and one Health Savings Account (HSA). Well, that part that’s invested.

This represents over a 42.34% increase from the fourth quarter of 2022.

This included companies like $MAIN, $XOM, $NVDA, $HD, $MMM, $JEPI, $SBUX, $VTI etc. Our biggest payout was $647.54 in December. The last month of the QTR is always huge.

Read “How to Make Money from Dividends: 7 Ways to Profit.”

Blog Promotion, Growth, and Passive Income Potential?

In Q4, there was over 6k in organic search traffic based on my keywords. The webpage garnered an Authority Score is 18. See analytics below. Post-traveling, I’m switching over to not caring as much since this doesn’t make me anymore. May as well be as aggressively me as possible. People tune into what they like. Turns out they either don’t like me or they don’t read. Either way, It’s not my life’s biggest concern.

It’s all about putting out quality and meaningful content. We become Millionaires in 2023 and are clocking in to have $5 million by 20233. Time to focus and see how we can do that instead. In 2024, we are headed far north to Banff and South to the Indies.

Hiking season! Lesson – Always focus on what brings you the most joy.

Blog Statistics to Build on Passive Income Weaknesses

Total views for the fourth quarter were 1,144 with 483.9k impressions (+65.38%). I don’t know what it all means to be honest lol. My average position is 18.2 (down 2.35%). I have a lot of work to do regarding ranking keywords. This is among the things that I needed to learn in my 20s as well as better branding. Building a following isn’t what it used to be.

High-quality photos and engagement are the name of the game. Some people get the clicks and likes but I don’t. Oh well, I’m more focused on Early Retirement, Financial planning, and travel.

Four Quarters of Progress

Blogging is very difficult and it’s ultimately not very passive. I put in a lot of work for little to no payout. But this is the price of chronicling the journey.

I have a feeling that years from now; it will be a treasure trove. Every bit helps. So here’s the recap:

• Here’s How to Bring in $5k Passive Income in Q1 2023 – $5,441.94
• How We Made $5k+ in Passive Income for Q2 2023 – $5,297.52
• How to Create $7k in Passive Income Quarterly – Q3 2023 Recap – $7,072.83
• Plus this 4th QTR – $6,356.18

Total of Passive Income for 2023 – $24,168.47

Final Thoughts going into 2024?

In regards to increasing our passive income streams, I’m strongly leaning toward just making more money in my day job and focusing on owning more Real Estate for rental revenue and investing for more dividends.

I favor consistency which RE and dividends dish out in spades.

For 2025, I’ll pour into a Certified Financial Planner certification and instruction. In the end, there are multiple ways to build wealth and some ways might not be a great fit for you.

Check out the Financial Griot Podcast where we chat all things Financial Literacy and Life. Or link with me on Instagram.

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