Passive Income – May 2013 Update

Passive Income - May 2013 - Night Ocean

Please note I understand May wasn’t yesterday! Just getting all of my updates into place from this past summer!

My favorite post of the month is my monthly passive income update as it shows each month how I am getting a step closer in developing enough streams of passive income to supplement my working income and achieve financial independence. Let’s check out May and see how things turned out!

Passive Income Summary:
 
May
Income
Year-to-Date
Income
2013 Goal
Percentage of
Annual Goal
LC - Net Interest
$138.12
$458.57
$1,120
40.94%
Dividends
$100.70
$302.95
$700
43.28%
Options Trading
$0.00
$100.70
$300
33.57%
Total
$238.82
$862.22
$2,120
40.67%

Lending Club: May saw my net interest from Lending Club hit its highest level yet. In April’s update I mentioned that I thought it would take until June or July to hit $140-150. May ended up coming thisclose to hitting that mark at $138.12. At the end of May, my weighted average interest rates are 18.05% and 15.05% in my Roth IRA and taxable accounts, respectively, giving me the potential for high returns over the course of the next few years. For the month of May, my overall internal rate of return was 14.55% across both accounts.

Important to note, I calculate my monthly net interest amount to be interest received less any charge-offs, defaults, and services fees in the given period. If you haven’t yet, check out my full May Lending Club update.

Dividends/Trading Income: During May I received dividend payments from three of my holdings, Kinder Morgan, Inc. (KMI), Oneko Partners, LP (OKS), and Prospect Capital (PSEC).  My dividends, totaling $100.70 for the month, are detailed below:

  • KMI: $20.90, reinvested into 0.519 shares
  • OKS: $45.76, reinvested into 0.860 shares
  • PSEC: $34.04, reinvested into 3.155 shares

Important to note, both OKS and KMI increased their dividends. These increases, coupled with the reinvestments, increased to $1,049.47.

Considering where I stand at the end of May, I will be updating my 2013 goals for the rest of the year to better reflect my passive income progress and some of the changes I’ve made to my overall investment focus.

That’s it for my May passive income update! Without a ton of time or energy my investments have earned $238.82 of total passive income for me! What types of investments have you found successful in generating a consistent and increase level of passive income?

Don’t hesitate to look around; you can find details on all of my investments under the Equity Investments page, monthly updates under the Passive Income Updates page, and progress on my 2013 goals on the Goals page.

If you haven’t yet, be sure to follow me on Twitter, and like me on Facebook!

Flickr: L.C.Nøttaasen

If you enjoyed this post, subscribe below to get to receive new posts by email.

Leave a Reply