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2017 February Passive Income Report



Every month I try my best to compile all the income and expenses that I occur in my pursuit of building and living the passive income lifestyle and please understand that I didn’t get to where I am overnight or through miracles – it is an ongoing progress, and has been a long road filled with lots of hustle and my fair share of mistakes.

And yet, through persistence and passion and continuous focus for progress, I’m slowly and surely building something amazing for myself, my family, for you to learn here in NigelChua.com

PASSIVE INCOME INTERNET BUSINESSES (PIIB): USD -17.02

Income

Xtend Life Natural Health Supplements USD$ USD$ 7.88

  • 7th February 2017: USD 7.88

SellHealth USD

Amazon $0

Expenses

PASSIVE INCOME INVESTING (PII): SGD 0

CONCLUSION

Ugh, my online business income is lower than my expenses, so it's gone into the negative territory (- USD17.02) so that means I've made a loss online in February 2017.

On the other hand, my dividend income is higher this month compared to last month (SGD 556.80 in Feb 2017 compared to SGD 0 in Jan 2017), so that's a nice even out.

That being said, I cannot be complacent about my online business just because I have my dividend stocks and my offline business. Frankly speaking, I'm writing this much delayed article on 18th March 2017, much much later than I planned to (I usually write my monthly income reports upon receiving SGX monthly summary) but I can foretell that this will happen more often especially in 2017.

The main reasons for this is:

  • My baby boy is born on 9th March 2017 – took time to settle my offline business etc
  • Some of you may know, my offline business was acquired and I've a 3 year bond that ends 31st December 2017 – yes, this year. And because it's this year, I think and feel that this year may be an extra busy year as we aim to hit our milestones and KPIs etc. Not sure what of the plans after, I'm planning to handle it step by step now.

I do not aim for these two to be excuses, but they're reality to me. Fatherhood takes up a lot of time, and now with a 2+ year kid and a newborn, a lot more time and effort is required. Same for the bond ending this year.

My next goals are to

  1. sell off my Australia rental property and take those proceeds to invest more in Singapore's dividend stocks, to increase my portfolio size which should increase my dividend income by close to 2x, so hopefully I can get $30k per year (in 2016, my total annual dividend was $12k).
  2. increase income from my online businesses, namely NigelChua.com, XtendHealthAsia.com and I've a few smaller ventures that are online and offline that I don't want to mention yet.



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Books I'm Reading

Holy Bible

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Seneca Letters From A Stoic

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See my full book/read list here.

Blogs I'm Following

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Personal Goals

SGD 2,000,000 invested in dividend stocks with average 5% returns per annum by 45

SGD 2,000,000 in cryptocurrency

Owning, affording and living in a landed property in Singapore (or relocated to another country without worry of money) by 40

Publish at least one book by 40 years old

Online businesses serve readers and clients well (ie readers make more money, have happier/freer life etc), and website makes SGD 10,000 per month

Ongoing: spend more quality time with children, wife, family, bible, God.