Our Goal
Time is the most precious thing my family has and we want more of it to ourselves. In order to take control of our time we have set the following goal:
Our portfolio generates a passive income in 20 years time, equivalent to about 73 000 dollars per year, which covers our our annual living costs.
Progress
Our passive income has grown at a steady pace so far this year - this is how far we have come on our journey towards achieving our long-term goal:
Time is the most precious thing my family has and we want more of it to ourselves. In order to take control of our time we have set the following goal:
Our portfolio generates a passive income in 20 years time, equivalent to about 73 000 dollars per year, which covers our our annual living costs.
Progress
Our passive income has grown at a steady pace so far this year - this is how far we have come on our journey towards achieving our long-term goal:
There is still a long way go though until our passive income reaches awe-inspiring levels.
Level of Passive Income
Our passive income, which currently is approximately 2340 dollars on an annual basis, can buy us the following:
- Two monthly rents and parking fees in our current apartment.
- Approximately 24 dining experiences at a good restaurant.
- 317 galons of gas (1300 liters). Gas is almost twice as expensive in Sweden..
- A new sofa for the livingroom.
- A brand new big screen TV.
- A continental bed.
- 8 working days of work with payed leave for me and my wife!
Most of the points above are not things we strive for, but the list still shows that we are moving along in a fairly good pace, and in that sense it creates some additional motivation.
Owning Our Time
As you probably allready guessed by the now, the last point is by far the most significant to us. Why? Because free time is the most precious we have. Time to spend together in the park at summer, time to watch cartoons past bed time, time to play togheter and assemble my sons train set.
Controlling and owning our time is our definition of true freedom and our goal is to free ourself trough the power dividends.
New Page
I have added a new page in the main menu called "Passive Income", which shows the size of our passive income on a yearly basis as well as how much each company in our stock portfolio contributes to dividend stream.
What can you afford with your passive income? And what maters the most to you?
What can you afford with your passive income? And what maters the most to you?
Great post that gives perspective.
ReplyDeleteA question: How do you calculate your passive income, is it just yield on cost on your current stocks in your portfolio, or do you add up all the dividends over the year and if so how do manage when buying/selling stocks with dividend payouts in different periods?
Thanks! Nice to hear that you appreciated the post. Good question! My method is quite simple - for each of my stocks I first calculate the current annual dividend (annual dividend per share x number of shares I own) and then summarize. If I have sold a stock, which happens rarely, I don't take it into account.
Delete/Best Regards
Great pespective, LTI. I have a similar chart that I monitor privately and hope to surpass the goals on an annual basis leading up to our financial indepedence.
ReplyDeleteBets wishes with your goals
R2R
Thanks, nice to hear! I personally think it's a great way to stay motivated.
DeleteBest wishes with your goals as well!
/Cheers
ReplyDeleteCardamom futures were trading lower during the morning trade in the domestic market on Thursday.
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