That’s the question, why?
Why seek passive income?
Why bother at all?
For me there are TWO answers:
1. Spending time on new business projects.
2. Spending time with my kids.
There is nothing wrong with a 9-5 job, I’ve had several of them and I’ve been lucky enough to enjoy the work that I had. Whether it was working in a warehouse stocking shelves or configuring large computer networks for a Fortune 500 software company – I’ve always found work that I loved.
But the problem with a 9-5 job is that it means you are at the mercy of some else (your boss) when it comes to the allocation of your time.
For me, I get bored easily, wanting to constantly move from one challenge to the next. Most “jobs” don’t give you that flexibility – they prefer that you master a few tasks and repeat them again and again and again.
Earlier this month my wife and I decided to take the kids out of school for a couple of days for a quick road trip to San Diego. We spent 5 days together as a family, in the sunny SoCal weather enjoying Legoland, the San Diego Zoo and several local beaches, not to mention some of the best Mexican food around.
- I didn’t have to think about asking (permission) for time off.
- I didn’t have to worry about (not) getting paid.
- I didn’t have to constantly check emails and voicemails to make sure all was fine back at the office.
I spent my time focused on my family and enjoyed the time we had together.
Because we have the flexibility to go on trips like this when we want, we can avoid the peak travel times and the crowds that go with them. It makes for a lot less stressful trip!
The DDI portfolio is one of several passive income streams I’ve created and it currently is the smallest in the size of income it generates for me. However, I expect to grow it consistently over the next few years. My ultimate goal would be for the DDI portfolio to generate $5000.00 /month in passive unmanaged income.
Right now the growth of the DDI portfolio is one of my main projects. I’m positive that over time, I will find newer more interesting projects – but if I build it with a firm foundation, I know that it will continue to serve me well for the long-term.
Eventually, it is an asset that I will pass along to my kids, and in turn perhaps it will someday help their kids as well – a legacy of sorts. For now I am enjoying the journey of continuing to build the DDI portfolio and am thankful that it is already providing support for my family to enjoy an occasional vacation and time together!