Making Plans for the New Year

For the past few years I have dabbled with generating income on the internet.  I’ve learned a lot but I must confess I haven’t made a lot of money doing it.  This year marks the end of that dabbling.  I have decided that next year I will put the knowledge to work and make the internet a viable channel of passive income for me.

Why the change?

I have been practicing law a little over twelve years now and I’ve seen a lot of disturbing things in those years.  One of the things that most disturbs me (and you’ll probably find this odd) is watching my 70-something and 80-something year old colleagues continue to practice, not because they want to, but because they have to.  If they stop working, their money stops flowing.  Perhaps this bothers me so much because I’m turning 40 in January but whatever the reason, I’ve made the decision that I don’t want to have to work until I’m 80.

So I’ve started making plans to create a passive income stream using what I’m calling my set it and forget strategy.  (I’ll do another post about this soon).  Here are my online goals for 2010:

• create 50 Squidoo lenses, 50 Hubpages and 50 eHow articles
• receive a check from Google Adsense every month (Adsense has a $100 minimum payout)
• build Twitter followers to 1000; and
• generate at least $300 per month (that’s just $10 per day)

I will give a monthly report to keep you updated and to serve as a form of accountability for me.

How do you plan to create passive income in 2010?

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