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Another Residual Milestone (that took forever to achieve)

$20,000Okay, I finally made it.  I finally earned $20,000 in residual income this year.  When I went to bed last night I was 26 cents away from my milestone.  When I woke up this morning, I had surpassed it!

Of course after a momentary celebration, I had to take a more detailed look at how I did it and how I should approach this residual writing stuff going forward.  Here’s how I got there this year:

  • eHow 49%
  • Suite 24%
  • Google 16%
  • Infolinks 4%
  • Text Link Ads 2%
  • Amazon 1%
  • Chitika 1% (I’ve since dropped Chitika)
  • Affiliate sales 2%
  • Kontera, Orato and AdBrite 1%

Earning $20,000 in residual income is especially exciting considering how much it cost for me to do it.  My top two money makers cost $0 to join.  Most of the rest of my income is tied into my own sites which cost me about $100 per year in hosting and $10 per domain name (I’ve registered about 5 domain names this year and only used 2). When I renewed my existing domains last year, I renewed them for multiple years so I didn’t incur the expense this year.

So far in 2010, I spent about $150 (although, this doesn’t include purchasing a new USB headset when my other one crapped out on me a couple of weeks ago).  When I compare my current expenses to the expenses I incurred driving to a part-time job 5 days a week, I’ve got to say that quitting that part-time job and working from home was one of the best decisions I’ve ever made. After all, the part-time job only paid $8.38 an hour.

My Goals Going Forward

It is quite obvious after looking at the percentages that I’ve got a lot of work to do. I need to balance my numbers a bit more and add one or two Residual Incomemore revenue sources.  In addition to more diversification, I need to beef up my numbers all around.  By increasing everything else, my eHow percentage will have less of an impact on my income. I’m not comfortable with them being the lion share of my revenue source.

I also want to invest in my money making resources.  I need to do things like upgrade my computer software, blog themes and some of my computer hardware.  My existing software/hardware has done a fine job in getting me to where I am, but I’d like to ramp things up a bit going forward.

In addition to the physical ramping up, I’ve got some mental ramping to do.  I’ve got to spend more time studying, learning and improving on what I’ve done in the past three years.  The Internet is constantly changing and if I want my earnings to grow (I’m still aiming for $10,000 per month in residual income), I’ve got to change along with it.

Well, there you have it, $20,000 in residual income.  If I can do it, I KNOW you can too.

{ 34 comments… add one }
  • Grandma November 16, 2010, 7:37 am

    Girl, you are amazing! And an inspiration to all of us! Congratulations, well done, and keep it up…we are all rooting for you to hit that $10,000 milestone. How very cool!!!! You are keeping hope alive for many who are challenged by life’s twists and turns.

  • Mandy November 16, 2010, 11:26 am

    Congratulations! You are so inspiring!

  • Kenneth Crawford November 16, 2010, 11:44 am

    Great accomplishment and fantastic motivation for others as well. Felicia, you are showing day in and day out that it can be done with work, perseverance and consistency. There are frustrating days, but the rewards are so well worth it. Congratulations on yet another milestone!!

  • Diane November 16, 2010, 12:26 pm

    You are definitely an inspiration. And, thank you for your help last week trying to understand the DS process for writing residual income articles.

    I’ve been expanding my horizons (avoiding putting the eggs in one basket) and posted some articles on Triond. I’m curious if you have any experience with them. I found publishing to be incredibly easy.

    • Felicia November 16, 2010, 1:48 pm

      Diane, I can’t help you with Triond. I never tried them. I’m sure some of my readers can offer some advice.

  • Julie @ Inspired to Write November 16, 2010, 12:45 pm

    Yay!! I am so proud of you and never had a doubt!! I needed this inspiration, so thank you! It is good to see eHow and Suite 101 up there since I have articles on those sites. I am taking a slightly different turn with my online goals, and I am now just shooting for $2000 a month next year.
    Thanks again!!
    P.S. I am still hoping you can do a guest post on my blog! 🙂

    • Felicia November 16, 2010, 1:49 pm

      Oh, Julie! I’m so sorry. I forgot all about that. Thanks for the reminder. I’ll see what I can come up with.

  • Anna November 16, 2010, 2:56 pm

    Congrats, that’s wonderful. Just goes to show that it can be done! I work at home as well, and don’t see myself going back to the 9 to 5 grind anytime soon. I am currently making just as much at home as I was when I worked outside the home, plus I get to stay with my babies.

    Thanks for the post. I’ve only recently started following your blog, and I’ve really been enjoying it so far.

    • Felicia November 16, 2010, 3:21 pm

      Welcome to NJFM, Anna. I’m with you. I don’t see myself going back to the grind either. My only regret is that I didn’t start working from home sooner.

  • Deanna November 16, 2010, 7:56 pm

    Congratulations on the $20,000! I still think it is amazing that you can make that much from residual income. Can’t wait to see how far you go by this time next year – I’m sure it will blow us all away! 😉

  • kidgas November 16, 2010, 9:55 pm

    This was a pleasure to read. It is good to know that you have come quite a long way in three years. Furthermore, you are wise to diversify the residual income stream since you never know what changes can occur in the future.

  • Angela November 17, 2010, 12:18 am

    Wow! Congratulations, Felicia. You really have paved the way and shown us that substantial residual income is indeed possible through online freelancing no matter what the naysayers say.

    I’m looking forward to the day when you hit that $10K/month milestone. I have a feeling it won’t be much longer.

    Thanks for allowing us to continue to take this exciting journey along with you.

  • Grandma November 17, 2010, 9:07 am

    Thinking more that residual income would be an awesome addition for retirement income. I still have plenty of time to build it up over the next several years…even starting from scratch today…

  • Crystal November 17, 2010, 9:18 am

    Wow, Felicia – congratulations! I wasn’t online yesterday and missed your great news until it came to me by email this morning. You are an inspiration and everybody in my world gets to hear frequent updates on your successes – in fact, you’re name has become a household word around here. Now when I say Felicia did or said this or that, no one has to ask “Who?” Thanks for sharing your percentages – it’s interesting and helpful to see the earnings broken down.

    • Felicia November 17, 2010, 9:59 am

      Grandma, you’re right. With your writing and SEO skills, you can start now and have a nice revenue stream by retirement. That’s part of my plan too.

      Crystal, you’re too funny! I do the same thing. It’s too much for me to try to explain each person’s name and their story so I just use the names as if my family knows everyone. I know they’re confused when I talk about everyone, but if they really want clarification, they’ll ask. 🙂

  • Living in Washington DC November 17, 2010, 11:31 am

    Wow…. $20,000!!! Congratulations. It takes a lot of hard work and dedication to do the type of work that you are doing. I hope you reach your 10K/month milestone soon. I hope that one day I can be as successful as you are.

    I was reading the previous comments, and I never thought of residual income as a form of savings for retirement. I think it’s a great idea.

    Diana

  • Leigh November 17, 2010, 1:37 pm

    So then, writing for residuals at DS is as lucrative as ehow was?

    • Felicia November 17, 2010, 2:36 pm

      Leigh, it’s hard to say. I only have a few DS residual articles.

  • Ira November 17, 2010, 1:55 pm

    Oh man that’s so awesome, Felicia, and I am so happy for you!

    Right now my personal goal is $500 a month from all sources (active and residual). At the moment, I am seeing about $100 a week incoming. So I should be able to meet that goal real soon.

    I figure, since i have been out of work for 4 years and all that jazz, if i give myself smaller goals to achieve, I won’t get discouraged. For me, even small victories make the difference.

    You’re a true inspiration, Felicia!

  • Alina Bradford November 17, 2010, 2:23 pm

    Wow. You. Are. Amazing. I want to be you when I grow up, lol. Making around $20,000 per year with just residual income has been my goals for years now and I’m still not even close. In 2011 I’m making it my number one priority.

    • Felicia November 17, 2010, 2:38 pm

      Alina, I know you can do it. The toughest part is writing a residual article when an up-front payment article is staring you in the face (sometimes I give in). 😉

  • Will November 17, 2010, 11:37 pm

    Congratulation, Felicia! You are an inspiration for all of us. Achieving this goal is a testament to your talent and patience.

  • Minister Marlene November 17, 2010, 9:48 pm

    Felicia, I’m new to your site and exited to have found you. I’m delighted to hear of your fantastic $20,000 income. I’m greatly inspired and rearing to go. I’m new to content writing and want to make a buisness of it. I write ariticles on health, ministry,faith and wellness,finance tips etc. I downloaded your free book and you gave me an abundance of good advice. Thanks so much.

    I will be following your blog closely. Your a roaring success and I’m sure you’ll hit the $10,000 a month milestone. I’m so inspired.

    I write for textbroker and am learning a lot for a beginner. I also write for Bukisa and Triond. I have 200 articles on Triond. Be careful with Triond. I entered their October bonus program, wrote 58 articles and never got paid the extra 20%. I know I wasn’t paid because I keep daily records. They refused to pay me claiming I needed to show them a screen shot. I didn’t know what a screen shot was until now. I really am a newbie but I will learn fast.

    Triond is also lousy at responding to issues. I wouldn’t refer them at all. I’m planning to check your reviews and proceed from there. Bukisa is owned by Triond. I don’t know if you knew but they are just as unresponsive.
    I learned something new today from you Felicia-we have to first choose a reputable site and see if it’s a fit, make a plan etc.

    News of your salary gave me a big boost and I’m praying for the same. It’s also great to read all the comments of the other writers. Their responses have great value.

    • Felicia November 18, 2010, 7:41 am

      Welcome to NJFM, Minister Marlerne.

      I’m not too familiar with Triond, but I would suggest you take a look at Suite 101. I’ve written a several posts on here about Suite. I’ve found them to pay better than Bukisa and quite a few other sites. You might do well there.

    • Minister Marlene December 31, 2010, 8:08 am

      I’m very exited today. I just got accepted to Suite 101. Thanks, Felicia, for suggesting them to me. I’m with Suite 101, Associated Content, Writers Access and Guru.com. Don’t know how well I’ll do on Guru. At least I’ve started on my portfolio.

      This blog is such an inspiration to me. I have a real estate license and life coach certification. I’ve been working on a few articles in these areas.

      I wish you continued success in 2011. Your blog is a gem. So glad to have found you.
      I’ll be studying your tracking sheets. I thank yo for posting them. Blessings to you and your family.

      Marlene Taylor

      • Felicia December 31, 2010, 8:54 am

        Congrats on your acceptance to Suite. The site is undergoing a few glitches right now, but hang in there. I think it will be worth it for you.

  • Prerna November 17, 2010, 11:52 pm

    Woot!! Congrats Felicia.. Celebrating with you always.. You are such a solid inspiration for me and so many more.. I’m just hoping I can match up to where you are in the nxt few years..

    • Felicia November 18, 2010, 7:43 am

      Thanks for all the well wishes guys! Honestly, I think my earnings have more to do with patience and persistence than anything else. 🙂

      I think if you stick with something long enough, it’s bound to work out. Just ask my hubby. 😉

      Edited to add: Many moons ago I wrote about Galatians 6:9. It has helped me to persevere through the ups and downs of online writing. And, of course, the Serenity Prayer helps me get through the silly Demand Studio CE edits.

  • Julie @ Inspired to Write November 18, 2010, 10:18 am

    Felicia,

    I am curious about HubPages since you didn’t have them listed. Have you seen an residual from them?

    Julie

    • Felicia November 18, 2010, 10:24 am

      Julie, any residuals I receive from HubPages are included in AdSense, Kontera and Amazon.

  • Tashana November 19, 2010, 11:28 am

    Felicia you are such an inspiration. As soon as I’m finished passing my certification exam I will be hopping aboard the residual income bandwagon. You have truly inspired me to get out there and write, write, write.

    Now I do have one question. You state that Google is 16% of your earnings, how and/or what do you write for Google? Or (and this just hit me) are you speaking of your adsense? It’s been a long week .

    Again Felicia you are awesome and so inspiring. Congrats on your success.

    • Felicia November 19, 2010, 11:41 am

      The Google numbers come from Google AdSense.

  • Master Dayton November 20, 2010, 6:35 pm

    Congratulations! I’m still quite a way from getting up to $20k a year, but the numbers keep on growing. I think it’s important for people to know that it’s not one giant “A-HA!” moment that gets you there, it’s the consistent work that keeps adding up and compounding over time. Keep up the great work!

  • Christina Crowe December 4, 2010, 8:35 am

    That’s awesome, Felicia! I’m so happy for you. 🙂

    I’m with you on the diversifying. In fact, that’s what I need to do in the months ahead. It’s better to diversify because, if something ever goes wrong and one income stream dries up, you always have the others.

    I have no doubt that you’ll hit that $10,000 a day milestone before you know it!

    Good luck. 🙂

    Christina

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