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2017 July 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 -281.11

Income

Xtend Life Natural Health Supplements

  • 6th July 2017 USD 6.26
  • 17th July 2017 USD 6.54

SellHealth 

  • 24th July 2017 USD 17.99

Amazon

  • $2.30

Expenses

PASSIVE INCOME INVESTING (PII): 0

No more dividends at this point in time as I sold off all my shares in June 2017 for a tidy sum of $25k+, 16.67% capital gain.

CONCLUSION

The month of July yielded me 3 sales: 2 in Xtend Life and 1 from SellHealth.

As I've embarked on having 2 purely outsourced written WP sites, that spiked my expenses by a lot (I hadn't even factored in budgeting for marketing) but as you can see, you can have very minimal expenses if you want ie less than USD 30 a month to start learning and building an online business.

I have budgeted for the outsourced writings of the WP sites for one full year, though I will monitor on a month to month basis – if the revenue they generate is equal or more than what it costs me to engage the writers ie more than USD 280 is generated by month 12, then I will 100% continue with them. If it's less than USD 50, I'll likely drop the sites (depending on which is doing better).

I'm not touching those 2 sites at all, except for the occasional hiring of outsourced content marketing and backlink building, so it's more or less more than 95% outsourced – this is to test my theory of “is it me who's holding myself back” in the online world. If it's proven that I should outsource more ie outsourced work makes more than me running it, I will entertain the idea of outsourcing everything (except this site of course…unless it serves my audience better – see how).



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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

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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.