We truly believe that if you have taken the time to hunt us down here, then you certainly must be the type of person that is quietly determined to educate yourself about the process of building passive income via income investing and eventually realizing financial independence with a private income.
Paying it forward is both an honor and a responsibility – My Passive Income Journal is one of the ways we are paying this knowledge forward. We received this knowledge freely from those people who quietly took the time to answer our genuine questions, so this website seemed the most efficient way to make this information available to all.
Whilst based in the U.S. we have committed to making the principles and concepts on this website relevant for all seeking passive income insights. The truths surrounding passive income are timeless and apply to wherever we are living.
Also please remember – this is a personal journal for your encouragement and motivation. It is NOT financial advice.
We prefer our identities to stay reasonably private for all the usual reasons (besides, that’s what old money does best). Nevertheless, we have achieved and are continuing to achieve all the processes and outcomes you’ll read about on this site. It’s not theory for us, we actually have done it and are doing it.
We are nothing too special. Like many other people, we raised several children to adulthood, built our careers, saved and invested out of every single pay check, followed the plan of income investing and now are watching the snowball effect with great satisfaction and wonder.
For fuller transparency, we did inherit a 40 year old house, some shares and cash from one of our parents. However, this was only in the last 5 years and it was received with gratitude. We stopped rent-vesting and moved into the house. The small amount of shares and cash we received was immediately added to our existing income investing portfolio. The house had good bones but needed a lot of work – said work continues on to this day (will it ever end?!). Inheritances, whilst lovely, are not entirely unusual. What is unusual is we did not blow ours on a round the world trip and new cars.
Purposely, we’ve not enabled comments on this website as we genuinely do not want to be in the position of inadvertently giving financial advice. We are NOT qualified financial advisors, nor do we have the time to moderate the endless ‘investing’ discussion/arguments and opinions of keyboard warriors that always arise from these types of topics. Reddit can provide you with that 🙂
We Started Investing Late
Yes, we started late to building a passive income. It was not until much later in life when our children were mid-teens that we turned our back on the concept of being the ‘righteous poor’ (a long story, so don’t ask).
As a result, we started building our careers based on our strengths and quickly began earning very good money. Strangely (or maybe not so strangely) when we changed our belief systems, many other opportunities and learnings came our way too. We knew how to live very well on little and continued to do that and socked away the rest using the principles of income investing that you’ll read a lot about on this site. Things quietly snowballed.
What about F.I.R.E? Actually, we do not necessarily subscribe to the Retire Early tribe. One of us is retired from paid work but one of us is not. We both believe meaningful work (paid or unpaid) is necessary to contribute positively to society. Work also keeps the mind active and keeps our networks alive and well. Work also keeps us connected to what is going on in the wider world and our immediately community.
Passive Income - The Snowball Effect
Now the snowball effect of our passive incomes is well and truly evident. More money now pours into our investment accounts from dividends, distributions, royalties, advertising revenue and interest than we are putting in ourselves.
It’s one of the best feelings in the world.
Some days we find it hard to believe that twenty years ago I was sweeping factory floors and we both were doing two cleaning jobs at night to put food on the table.
Our knowledge has snowballed. Our confidence has snowballed. Our financial competence has snowballed and the fear of how to pay the bills has slowly but surely abated.
If it all disappeared tomorrow, we would confidently be able to start again using the same principles and regain our position much quicker than the first time. We would do that by using what we now know about income investing, passive investing and financial independence.
Financial independence is not the be-all and end-all to life. We do not subscribe to the strict frugality/minimalism crowd as this makes us feel negative and engenders a mindset of lack. However with a steady cash flow from passive income occurring, life opens up and a host of new possibilities shine in.
Wealth sometimes just comes softly – it has with us and it continues to do so.
The repetitive application of the principles of income investing, creating passive income and achieving financial independence has changed the course of our lives. It has also changed the course of the lives of our children forever too. We will always be grateful for that.
We will always be happy to share what we know with anyone who is genuinely interested.
Again, please remember – this is a personal journal for your encouragement and motivation. It is NOT personal financial advice.
Hugh Walker is not a financial advisor, does not work in the finance industry and does not hold a financial advisors license. The information on this website is not financial advice.
Always do your own independent research and due diligence before making any transaction. This includes reading and analysing all product disclosure statements, terms and conditions, service arrangement, fee structures and any other product information.
If you need help and would like to obtain personal financial advice about which investment options or platforms may be right for you, please talk to a licensed financial adviser.