Hello and welcome to our first official Niche Website Update and Income Report for 2015! Since 2013 I’ve been trying to take my hobby of blogging and really turn it into something of a long-term, stable. My ultimate goal is for the niche sites I create to generate several streams of positive passive income that will continue to roll in no matter whether I’m working, sleeping, or whatever I’m up to. I consider all the extra income I make to be a huge blessing because its money that I made outside my job and beyond the budget we’ve set for our family. Plus – it’s a lot of fun to see how far I can take this entrepreneurial effort and see where it goes. Unfortunately January started off with some pretty big delays due to my BIG … [Read more...] about Niche Website Income Report 026 – $1,155 for January 2015
I Have Cancer. Now What I Am Going to Do?
Two weeks ago I learned some pretty shocking news: I have cancer. What started out as a seemingly simple trip to the doctor to find out why my neck was feeling so constricted lately quickly escalated into an 8-night stay at the hospital full of scans, biopsies, and blood-work which ultimately concluded that I have Stage II Hodgkin's Lymphoma. Believe me – to say this has been quite a shock is to say the least. I’ll be turning 35 years old next month and this is something I would have never guessed I’d be dealing with at this stage of my life. I’ve always worked very, very hard to stay in stay in good shape, eat healthy, and keep things positive. However as I’m slowly understanding, sometimes life has its own unique set of … [Read more...] about I Have Cancer. Now What I Am Going to Do?
12 Things I Learned From Writing Over 30 Guest Posts Last Year
Anyone who is anyone when it comes to blogging knows that one of the best ways to grow your business is to offer to write guest posts for other sites. While guest posting doesn’t directly make you any money (at least not if you’re one of those shady sponsored post authors I ignore in my inbox), it can give you and the brand you’re trying to develop plenty of qualitative value. And, as you might guess, that qualitative value can lead to things like more traffic or better search ranks results that will eventually yield you more income (more on that below). If you really think about it guest posting is a win-win for both parties. The host blog gets free, awesome content that will stay on their site forever. Not only does that save … [Read more...] about 12 Things I Learned From Writing Over 30 Guest Posts Last Year
Extra Income Taxes – How I Messed Mine Up and What You Can Do to Get It Right
Even financial bloggers don’t always get everything right. This year I found out there is a dark side to earning a decent amount of passive income. While making money outside your job is absolutely great, you have to remember that at some point you have to report it all to the IRS. And that means paying a whole lot of extra income taxes! While the concept of having to paying taxes on your earnings is no secret to anyone, the way you have to go about it is a little bit more complicated than simply waiting until February and then paying in a thousand bucks one time. In fact because of the mistakes I made, I’ll likely have to pay a penalty for my negligence. If you’re someone who freelances or makes a decent amount of extra income … [Read more...] about Extra Income Taxes – How I Messed Mine Up and What You Can Do to Get It Right
Niche Website Update 25 – $1,577 in Income – Thank You Amazon!
Welcome to another edition of the My Money Design monthly niche website update. For the last 2 years now I’ve been working very hard to develop a collection of sites that will serve as a stream of sustainable income. I’m doing so by treating this blogging effort like a business rather than a hobby; meaning every month I come up with goals and new strategies to try that I anticipate will make next month better than the last. I feel so fortunate to have discovered the concept of passive income and invested energy into it. All the money I’m making is money that I make OUTSIDE my job. That’s income that I control, not my employer. 2014 capped off as the biggest year for me yet! Together we made more money on the side than I ever … [Read more...] about Niche Website Update 25 – $1,577 in Income – Thank You Amazon!
Our Ultimate Plan to Retire at 45 and Achieve Financial Freedom
If you have any aspirations to retire early some day, then this is the post you’ve been waiting for. It’s my annual update to our plan for financial freedom. Trust me – you’re not going to find another plan like this anywhere else. For some time now I’ve been saying that my wife and I plan to retire when I turn 45 years old. How do we plan to pull off such an ambitious goal? That’s what this plan is all about. We put numbers to paper and actually see what our cash flow will look like all throughout the future. Hence the name of the blog, this is our “money design”. If you have any desire whatsoever to retire at 45 (or any age really), but you’re not really sure how you're going to do it, then this post is for you! I'll … [Read more...] about Our Ultimate Plan to Retire at 45 and Achieve Financial Freedom
Recognizing the Important Aspects of Life
One of my favorite movies to watch during Christmas time is the old classic “A Christmas Carol”. Yes, I know. It’s about as cliché of a Christmas movie as they can possibly get. Pretty much everyone knows the story of bitter-old Ebenezer Scrooge and how he changes his miserable ways after a visit from 3 ghosts who show him how meaningless his life really is and convince him to change. I think most people will agree that the main point of the Dickens’s tale is that there is more to life than money. However as I’ve become older I’ve realized that the theme of money actually highlights several important aspects of life that have either became lost or forgotten when people watch the movie over the years. In the beginning of the … [Read more...] about Recognizing the Important Aspects of Life
Can the Experts Help Us Find Good Stocks? 9 Month Update
Welcome to another quarterly update of how my stock portfolio is doing and whether or not the experts were able to us find good stocks to invest in. Every year I invest a small portion of my portfolio into individual stocks to gain experience with them as well as attempt to increase my wealth. My long term goal is to build a stable portfolio of dividend yielding stocks that will eventually provide me a steady stream of income. If you’ll remember: The last time I bought stocks back in January, I noticed that each of the major financial websites had their own “analyst opinion” section that is supposed to tell you how the stock is going to do over the next 12 months. Even though I buy my stocks based on qualities like long-term earnings … [Read more...] about Can the Experts Help Us Find Good Stocks? 9 Month Update
