2017 Passive Income Coverage

As another year has passed by, I'm one more year closer to financial independence and retirement.  It feels like time just keeps flying by faster and faster... and I feel it especially so because I can see my children growing up.  I still remember bringing my firstborn back from the hospital and now he's talking with his own personality.  Looking back at his baby pictures and looking at him now just reminds me of how fast time flew by.

I mention financial independence and retirement as if they are two different things, and to me, they are.  Financial independence is the point in which I no longer need to work to survive since my investments can cover my living expenses.  With financial independence, I can still choose to work if I want to; it also gives me the independence to do work that I'm passionate about, without having to worry whether my salary can support my family.  On the other hand, retirement is quitting the workforce and no longer working.

For me, my goal is to reach financial independence ASAP and aim to retire by the age of 56 in 2041.  I still have a while to go before retirement, but I'm hoping to quickly get to the point where my passive income can cover all my expenses so that I don't need to worry about supporting my family in case I get laid off (God forbid).

For purposes of my "Passive Income Coverage" posts, I will only consider my dividend income and rental income.

Below are my dividends and rental income for 2017:

2016 Passive Income Coverage

With another year behind me, I'm another step closer to financial independence and retirement.  For me, there's a difference between financial independence and retirement.  Financial independence is the point in which you no longer need to work to survive since your investments can cover your living expenses.  With financial independence, I can still choose to work if I want to.  On the other hand, retirement is quitting the workforce and no longer working.

For me, my goal is to reach financial independence ASAP and aim to retire by the age of 56 in 2041.  I still have a while to go before retirement, but I'm hoping to quickly get to the point where my passive income can cover all my expenses so that I don't need to worry about supporting my family in case I get laid off (God forbid).

For purposes of my "Passive Income Coverage" posts, I will only consider my dividend income and rental income.

Below are my dividends and rental income for 2016:

2015 Passive Income Coverage

My ultimate goal is to be able to retire by the age of 56, which will be in 2041.  As I've mentioned from the very beginning and in the "About Me" page of my site, my strategy to reach early retirement is to have multiple streams of income from interest, dividends, and rental income.  The point at which I can retire is when my passive income exceeds my expenses.  Therefore, I plan on posting at the end of every year the amount of expenses that is covered by the passive income I have received.

Since interest income can easily change with changes in interest rate and the principal balance in a bank account, I will only consider for purposes of my "Passive Income Coverage" posts my passive income from dividends and rental income.

Below are my dividends and rental income for 2015: