On top of updating my monthly net worth, I am going to start tracking my annual passive income base on my current investment holdings. All my passive income currently comes from dividends. Currently, the market value of my investment is aprox $40,000 but my book value is around $30,000.
So here it is, I did up a quick excel spreadsheet with all the holding that pays dividends and calculated how much dividends I'll get every year. Right it's aprox. $1024 which translate to 3.4% of my total book value. Not all my investments are invested in a dividend paying stock so my return percentage is a little low.
If you are just starting on your journey I recommend you to start a tracker of your own. This will help motivate you to invest more as you see your passive income grows. Just by making this tracker I now know that I make an extra $1024 a year tax free. Although it might not seem like much at the moment, but that amount can almost pay for a small vacation every year. There you have it, here is my "make $1000 a year from sitting at home" scheme, which is probably more reliable then most "get rich quick by doing nothing" scheme. Invest and let your money work for you.