Awhile back, I wrote a POST called ‘My Army of Loyal Henchmen‘.
RockStar Finance even featured me on their site.
Anyway, the main gist of the article is that my passive income investments, hustles, and schemes earn money every month. I like to think of my extra income has being earned by a small army of loyal henchmen. They work tirelessly and solely for my own benefit.
If you have already read the article, you know that the Average Minimum Wage Worker in America clears about $ 9,613.50 a year.
Divide up all of your passive income by this number and you get your gang.
Even if it translates to just One Trusty Lieutenant.
After that, naming them is half the fun.
I’ve invited anyone who wanted to put the time in to use this method on their own income and add their ‘Get Money’ Crews to this page here.
I got a couple of interesting responses. Including one from OneShareAtATime(now defunct). He liked to think of their passive income as money made in their sleep. As seen here;
Another approach was with ‘Steve’. Steve is the brainchild of TimeInTheMarket. “If you’re not familiar with Steve, he’s my portfolio in worker form and I like to see what his annual hourly wage is as I grow my portfolio and dividend payouts.” Steve’s hourly wage is up to $4.16/hour for 2017, a 30% raise over 2016 wages, and he is on track to clear $5/hour for 2018!
If you’re interested, ‘Copy and Paste’ your GANGS to the comments section and I will incorporate them into the post for all to see. First come, First serve basis.
Relatively new blogger, In-Deed-a-bly, writes;
“Not sure if this is what you’re looking for, but several of my rental properties have nicknames.
One is called ‘Eugene’, after a huge palm tree in the front yard who is also named Eugene, for reasons nobody can remember.
Another the neighbours [sic forgive them for they are from the U.K.] nicknamed ‘Stella’. This after the police responded to a number of domestic violence callouts when some quarrelsome tenants lived there.
A third we call the ‘Bird House’ because at dusk a flock of brightly coloured [sic -again with the fancy spelling] parrots regularly visit the back yard.”
Structures that make you money count as henchmen, but they would likely be terrible in a gang fight, right?
Michael Dinich from YourMoneyGeek writes;
“The Mrs and I actually refer to our commercial solar PV system as ”he who must not be numbered”. It’s a play on Harry Potter.
When we were building the project it was really stressful. We took a big risk and overextended ourselves but had faith it was a good call. Then everything started coming in over budget. 15k to upgrade the transformer, 10k to run a cable from the pole to the barn. 3k to have helical ground screws put in, 5k to have a pad build when the ground screws wouldn’t bite into the ground. (despite my repeated protests to the systems designers that there was no way the ground screws would word in our shale)
The figure got so out of hand we joked it was just better not to look at it or speak it allowed. Eventually, the dust settled and we emerged victorious. We recouped our full costs 6 months ahead of schedule even with the overruns.
The system produces about 4k a year. We have been pleased with the gamble. However, we still refer to it as the ”he who must not be numbered.”
The Newest edition comes from Ginzu;
“My henchmen are a cannibalistic bunch. They feed off of the growth of the one below in a chain of command. The growth of interest, metaphorical Pawns, that smallest of the ROI from day to day checking and savings accounts, REIT income, Travel Rewards, and CC cash back deals. Interests earns its’ experience from being used in the trenches. Doing the tasks of cost of living while working for me. Interest is completely disposable, not a tear shed on its’ funeral.
Dividends, now dividends are deployed to the strongholds in the net worth world, the dividends reinvest in the battlements, strengthening a steady growth stream.
Dividends, my Knights & Bishops will be asked to tithe when the grower of all things money turns 59.5 years of age. The dividend strongholds will be in retrograde to feed the passive income Kingdom. The TSP, the corner piece Rooks, remain stalwart and imposing, named ROTH and IRA. The tithe from the Rooks will provide 4% SWR for their lifetime. All these pieces report to the Queen, she allocates and changes resources with tax considerations as the Kingdom approaches 60.
The Queen, the amazing partner she is, maintains the castle and a rewarding part time W2 position of her choosing. The King, having spent 31 years alongside his Pawns, Knights, Bishops and Queen, seeks purpose and passive income streams across the terrain. The King has one yearly guideline, consume below the passive income stream.
The terrain provides a stream of refreshing nectar (income), resupplied from over the horizon (pension). Their appears to be a friendly specter haunting the throne room. It is translucent at 75% of the spectral energy (SS tax) it consumed from the King. The SS hisses in the Kings ear with a promise of repayment, akin to the slave whispering in the returning conquer’s ear, a paraphrased – “All income from me is fleeting.”