I've been inactive online for a few months, and for good reason. I started a company, got a few clients to help with budgeting and investing, and then was booked for an ongoing contract project that kept me super busy for the last few months.
Very active income indeed, but that whole time I was also growing my comfort level with this passive income strategy. It's no secret, in fact, you could find plenty of courses, articles, and videos explaining my exact strategy which is what I did. But there is nothing like visual or learning as you go.
I'm happy to say that I've gotten my strategy down to a point where I was able to make around $800 in 2 months, which effectively has funded my summer travel budget for July and August as I take a much deserved break from working, and all of this was made fairly passively on my part.
What's the strategy - well it's simply a wheel. Back in March, I made a goal for myself to start options trading, on my terms. To learn, to try, to fail, and in the end succeed.
Now, I've been consistently options trading using the wheel strategy generating $400-$600 in semi-passive income monthly, which I then promptly blow on mostly dance related things. Which doesn't bother me at all because that was my goal all along. If you are one of my dance friends, then you know the struggle. So many great dance events, saying you'll go to only a certain number of events and then feeling the FOMO when you miss one, and feeling the ache of your wallet if you do them all. Festivals, weekenders, weekly classes, it all adds up and it's expensive.
For example, say you want to plan to go to a festival you're talking $200-$500 for the flight, $450-800 for the hotel, $200-$350 for a full pass, $100-$150 for transportation, and that's not even counting food, maybe an event t-shirt, and much needed massage afterward. On the high end you've racked up almost $2,000 for only one festival, and if you plan on 3-4 a year that same money could max out your retirement account. But why should you have to choose between retirement and something you love?
My goal with this income stream was to use it to generate income that I could use guilt free for my passion. Dancing has so many benefits: health, mental, social. For me, it was imperative I make space for dancing and save for my retirement.
How about you? How do you fund your hobbies or addictions? Send me a DM on one of my social to let me know, or contact me if you are interested in learning the wheel strategy for yourself.
Stay happy!
Yael
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