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10 x 10: $10,000 Passive Income Stream(s) in 10 Years

 My target retirement age is 60, just over seven years away. When I reach retirement, I would like to have $10,000 per month in Passive Income streams.

Currently, I have the following in place.

  1. Rental Property 
    I own a rental house in Texas, which I own in an LLC with my brother. My profit from this property is currently $500/month. As rental prices tend to increase upon renewal, this will grow to $1,000 per month in the next seven years.
  2. Rental Property
    I own a rental house in Oregon, which I own in an LLC with my wife. The current profit from this property is $500/month. As rental prices tend to increase upon renewal, this will grow to $1,000 per month in the next 7 years.
  3. Dividend-paying account
    This is a brokerage account I am building out myself with high-yield, dividend-paying stocks. The annual dividend payout is just over $200 per year. A far cry from $1,000 a month. This is an ongoing project; the proceeds to grow this come from the Texas rental house. E*TRADE
  4. Micro Real Estate Investing
    I'm working with Groundfloor (see my full article on Groundfloor here), which enables investors to invest in short-term loans for real estate projects. The loans last 18 to 36 months. When a loan is paid, you receive your principal plus any accrued interest based on the principal amount. The system automatically invests money in hundreds of loans, with an investment amount ranging from $1 to $10 per loan. My current passive income from this is approximately $20 per month. The interest paid to me is being reinvested in the program, allowing it to grow from all sources. I am auto-investing $100 per month into Groundfloor, along with my $20 monthly accrual. This will grow at an exponential rate over time. This is an ongoing project; the proceeds to grow this come from the Texas rental house. 
I'm also working on several other projects that have yet to take off. These include several Print-On-Demand stores, this blog, and an upcoming Etsy store for Financially Grounded Youth, where I will teach personal finance to children in grades K-12. 

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