Covered Calls, Dividends & Passive Income

First a little about myself, I am 35 and live in Los Angeles, California. I have a full-time job at a Fortune 50 company. Married, no kids, one dog and all the rest is probably not that much different from yourself. I consider myself moderate risk taker, with a slightly above average understating of investments.

Like most people I make a decent living, but have no other sources of income apart from my job. Not including my 401k and IRA, I have a small stock portfolio and a savings account. Lately I have been doing a lot of reading on generating second income sources. Given that I do not have the time or the desire to take a second job more passive forms of income see to be appropriate.

I very much enjoy reading other individual’s Blogs about various topics, especially those on investing and income generating, but often they are short on content and leave me wanting to find out more, hence my motivation for writing this Blog. I hope to communicate my own progress on generating passive income while providing useful information on the various topics I cover. Another motivation is they say you should always write down you goals if you hope to achieve them. This Blog will give me a forum to do that and it will help me stay focused by tracking my progress on a regular basis.

I am basically starting from ground zero. So we will see how this goes. My goals are the following:

1. Generate $500 of passive income per month within 18-months
2. Increase passive income to $1,000 per month within 36-months
3. Increase passive income to $5,000 per month within 60-months
4. Become and Accredited Investor within 8-years
5. Have my passive income exceed 50% of my work income
6. Be able to live off my passive income generation supplemented by casual part-time work

I can be contacted at pittrollie@psvincome.com