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2017 January 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 37.42

Income

Xtend Life Natural Health Supplements USD$ 62.32

  • 4th January 2017: USD 6.61
  • 9th January 2017: USD 7.56
  • 24th January 2017: USD 5.16
  • 27th January 2017: USD 5.94

SellHealth USD

Amazon $0

Expenses

A few things this month: I went through a bit of “spring cleaning” to lighten my load and focus a bit more – I had 30+ websites across 3 service providers, and so I wanted to cut down, and Wealthy Affiliate was in a sense my weakest link (the other 2 being Solo Build It and self-hosted WordPress with BlueHost), so I decided to let Wealthy Affiliate go.

Then I found out that Wealthy Affiliate DOESN'T refund any prepaid amounts, so at the point of me letting Wealthy Affiliate go, I have 597 days of membership to go. Wow. When I spoke to one of the founders about this, he said that it's mentioned in the agreement plus they had already paid their affiliates, so that's why they cannot refund. I disagree. And that's one of the core reasons why I am no longer actively promoting Wealthy Affiliate as well.

So I'm slowly tapering out and transferring sites from my WA account to my BlueHost account (a bit technical but doable), and focusing on much lesser sites today. This not only decreases my costs from WA (USD 299 per year) but it also frees up my mindspace/bandwidth to focus, as you can see more frequent posts and some changes to the websites that I run, including NigelChua.com.

PASSIVE INCOME INVESTING (PII): SGD 0

CONCLUSION

Generally, it's a quieter and slower month, both for my online business and dividend stocks. I'm not that worried for my dividend stock investing, given that payouts are generally quite fixed at certain dates/months through the year (in 2016, I made $12K+ or 8.1% pure dividend returns).

I'm glad that I made the call to cut down the total number of websites and service providers that I have to manage, because 30+ was really too much and too distracting. After cutting down to 10+, but truly focusing on 3-4, it helps to decrease my stress, increase my focus and concentration to manage just a few, but much better management.

I also had the time to think about starting some services here in NigelChua.com, which will deliver value to my readers and also increase the possible/potential revenue here.



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Books I'm Reading

Holy Bible

Tribe Of Mentors

Seneca Letters From A Stoic

Seneca On The Shortness Of Life

See my full book/read list here.

Blogs I'm Following

Tim Ferriss

Pat Flynn

Tony Robbins

Ramit Sethi

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.