Tuesday, 4 October 2016

September passive income

Since October started, time to update on September passive income. All personal finance bloggers do give an update on it, right?

I was thinking of working all possible hours and it really sucks...I realized slowing down is actually better. When you get tired, i tend to follow un-mustachian ways of drying clothes in the machine, and eating out.

The passive income for this month is below $100 if I consider only my TFSA and RRSP. But, we have another account, started with $10,000 and totally ignored for some weird reasons. I started taking care of that one too. That is with Scotia iTrade. Scotia has great site, but, if you don't have minimum of $25,000 there, the fees can really kill you. So, my new strategy is to buy their commission free ETFs.

All those 3 accounts combined, I made a total of $130.  For me, it is a good amount of money for a month in passive income. Most of the money is reinvested along with some new money.

The one ETF on iTrade commission free list is ZWB/ BMO covered call Canadian bank ETF. I bought at  $16.70/share. The price a bit high now.  In another post I will try to explain what is a covered call.

Around the time I started saving and investing, hubby stopped saving in RRSP and TFSA. Now, we are going to start that again for him: this time DIY investments. So, let us see where it goes.
Oh, by the way, the blog receive $0.02 during the last month as well. Since it is less than what I can take out, it is going to stay with Google.


Previously on Pellrides

7 comments:

  1. $130 in passive income is fantastic. It doesn't take much money to get started. The best part is that the income should keep growing each month or quarter.

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    1. Thanks for dropping by. I am glad I started. Hope to make more income in the coming months.

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  2. Any amount coming in passively can be thought of as a gift. After all, it's literally your money working for you instead of the opposite. Keep building off that $130 bit by bit. Creating a passive income stream is a marathon and not a sprint.

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    1. Thank you fro dropping by. Love the idea that passive income stream is a marathon, not a sprint.

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    2. This comment has been removed by the author.

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  3. 130, is a good start a tree planted today becomes an oak over time.

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