Imagine a FIREhose of cash, a flowing river of money streaming forever in whatever direction you aim it. Mighty rivers emerge from the humblest of springs, and my FIREhose of cash started with a $3,000 investment into an E*Trade account in September of 2012. Today there is roughly $347,000 in that account, and in 2017 that account will generate over $8,000 of purely passive income, in the form of dividends paid by the companies in which I invested.
My goal is the ever-elusive Financial Independence, and I am an enthusiastic (albeit older) member of the Financial Independence Retire Early (FIRE) club.
Passive income means freedom. It means you are no longer chained to a desk, or imprisoned in a cloth-covered cubicle. It means economic security. It means you have choices that you didn’t have before. Passive income means you have time AND money.
The good news is that passive income is no longer the domain of the idle rich. ANYONE (including you, my eager reader) can immediately begin building a stream of passive income. All it takes is a bit of money, a dash of hope, and a plan of action.
I took this leap of faith five years ago (in 2012), and this year my total passive income will exceed $28,000 by the end of 2017. This income is SOLELY from dividends and interest earned from my passive income investments. I did NOTHING other than research and buy stocks and mutual funds, slowly building up my positions over the last five years.
Trust me, folks. If I can do it, you can do it. Today I have a FIREhose of cash, which is only the beginning of what I hope will be an endless font of money as I approach FIRE.