Monday, February 12, 2007

Net Worth Update - January/Passive Income

Net Worth is just one measurement of wealth, of progress toward goals. However, it is just as important to consider other measurements. This thought came to me recently as I was updating net worth for January. You can see the latest info here: http://www.networthiq.com/people/easychange
 
At any rate, one of the more interesting things to consider is how much progress has been made with regard to savings to income ratios and debt to income ratios. By age 30, according to some estimates, there should be about 100K of savings in order to stay on track. But I don't know if that is going to happen; the best way I can get further on this is to increase income.
 
On that note, I thought I'd start thinking about small business/new business ideas. Currently there are various things that I am using for income streams but unfortunately, not enough of them are passive income. Ideally, I'd like to figure out some new businesses that can generate more passive income for me. I'll likely be exploring this in later entries; if anyone has any ideas with relatively little in terms of startup costs, let me know!

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