I'm not here to sell you shit or hype you up. Not interested.
I'm here to show you a better way of life, such that you don't become a wage-slave, that you don't get stuck where you are financially and have to keep working to pay the bills and to just live.
Yes, we all may have made mistakes, we may have been born into less-than-fortunate situations - we all have their struggles.
I've lived paycheck-to-paycheck, paying off bare minimum, borrow more - it's not great. Until I got more and more disgusted with myself, my money habits and my life then. Something needed to change.
I realized early in life, that not many (or even one) will help me become rich or financially free or to retire early...except me. I'm the most motivated one to do it, and it's 100% my responsibility, because I'm the 100% beneficiary of whatever I do, be it good or bad.
Not because dividend investing or saving is a special, hidden secret - it's actually in plain sight! But because it's unsexy, boring and profoundly simple that not many people do it. It's just boring. And one thing I learn: when it comes to reliable and consistent passive income, I don't want it to be exciting like ups and downs - I want it to be predictably boring - just keep the money coming in in a boring manner.
I focus around the themes of early retirement, streams of passive income, financial independence, freedom and serendipity. Sounds lofty and to make it simple, there are only a three core "KPIs" (key performance indicators) to be financially independent:
Being able to save more, earn more and invest more forms the strong stable tripod of early retirement, passive income and financial freedom.
If you have a lot of unnecessary expenses that don't add value to
your life, you can and should aggressively remove them from your life
(so that you can free up money to save to invest in dividend stocks for
passive income, that actually adds value to your life.
Examples of unnecessary expenses (recurring or once-off) that you don't care for or don't use, eg:
I don't believe in being penny-pinching and saving for the sake of
saving - instead, I believe in luxury and enjoyment and spending money to delegate stuff.
if you really care for those stuff, then that's what I do: I find ways
to afford stuff I actually treasure and love, and I'll be more than
happy to help you =)
Great as saving more is, it is just the bare fundamentals - it's very, very, very hard to "save-till-one-is-rich", which is why there is a need to also focus on...
Being able to save is great, but saving is limited to how much/creative you can be to save, but it's limited to how much. To illustrate is that if you make $1000 a month, there is only so much you can save right.
You have the core expenses that you need to spend, and whatever extra, you save from there. Say max of 50% of $1000, which is $500 (just an example).
The problem with saving, is that there is a max limit/cap of how much you can save before you become miserable/miserly/impossible, and that is NOT the philosophy of Nigel Chua dot com.
And that's where Earning More and Investing More comes into play.
Unlike Saving More, Earning More usually has no limit/cap. Given the example above, a person who makes $1000 may be able to save $500 (50%), or maybe a little more. Yes, it's still $500 or more savings.
However, the person who is able to build a side hustle and earn $1000 monthly on the side...or more - there is no limit. If they can earn $500 on the side, they can scale it up to earn $1000, $5000 or more. And they can invest the additional $1000s into dividend stocks and more.
Every dollar invested into safe dividend stocks will yield you
dividend/interest, and you can then take these dividends and interests
and also reinvest them to maximize the compounding yield. An example,
say you are able to set aside $1000 every month for 20 years, and with an average
compounding interest of 4% per annum, you will end up with:
becomes your nest egg, of which you can then, if you so decide, to
spend/live off the dividends. 4% dividends on $371630.42 = $14865 per
year, which is $1238.76 per month.
Not bad (compared to just saving $1000 x 20 years = $240K). So if you want to retire with more dividends, then you:
I'm a big, big believer in entrepreneurship and side hustling (especially with an online business where there is no ceiling cap, where your customers is global, and where you may find joy serving - I recommend Solo Build It for to learn and build a solid online business, just USD 299/year)
There is so much more upside and potential, but combining Saving More, Earning More and Investing More works synergistically together.
Check out my Where To Next below and the topics that interest you in the left side bar - talk soon!