This website is dedicated to the ongoing pursuit, building and living the passive income lifestyle. Herein we will study mainly three key fundamental pillars:
There are more definitions that can be found at here, but this is the three key things that I look at. To make things more simple and actionable, there are only a three core "KPIs" (key performance indicators) to be financially independent:
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.
Core belief #1: save on stuff that you don't care about to be able to spend on stuff that you actually care about.
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.
Core Belief #2: A 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.
Core Belief #3: Every dollar and cent is to be viewed as an employee, which is delegated and assigned to make more dollars and cents for me, the owner.
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.
say you are able to set aside $1000 every month, and with an average
compounding interest of 6% per annum, you will end up with:
This becomes your nest egg, of which you can then, if you so decide, to spend/live off the dividends. 6% dividends on $467,912 = $28,074.72 per year, which is $2,339.56 per month.
So then, how much do you want or need by time you retire? Depending on the amount you can invest regularly and how much you need, it will affect your ability to spend (or not) during your golden years.
There is so much more upside and potential, but combining Saving More, Earning More and Investing More works synergistically together.
I used to co-own a therapy business that I started and worked in for close to a decade and it was eventually acquired by a larger health group, and I'm not known for focusing on tiny/micro-details - I'm the big-picture-kind-of-guy.
I don’t like to complicate matters, so my general game plan is relatively simple: I aim to acquire and build assets that puts positive cashflow in my pockets in surplus, and the surplus are funneled into my dividend stock portfolio.
So in NigelChua, little of my writing will cover nitty-gritty of stock evaluations, passive income/stock portfolios, how many or much or little stocks or real estate or businesses to build/buy - that's not what I do or speak about.
I focus on big-picture strategy, focus and management; systems and habit formation; efficacy and delegation; focusing on your core; goal setting; time management; strength-based focus and similar. This isn’t my way or the highway.
It’s about your way, finding what works for you...because everyone's situation, motivation, focus and ability isn't the same.
I was born in Seremban, Negeri Sembilan (Malaysia) in 1982 to a middle income family. I grew up in a family of 4 siblings, I have an older brother and two younger sisters, and we are fairly close.
I love both my parents deeply, and have deep gratitude for providing me with the base for my future; and I saw firsthand how poor money management and not having cashflow-giving assets can cause stresses to the family.
I have been living in Singapore since 2002.
By training and experience, I am a hand therapist. I am married to a wonderful wife Louise, who is the love of my life, and my business partner as physiotherapist in our jointly-owned physiotherapy business in Singapore.
We also have beautiful children we thank God for =)
I first started my business in 2008, providing therapy services, and to cut the long story short, we went through a lot of mistakes, good decisions and really good opportunities that enabled us to hustle from a $65 therapy start up to a 7-figure therapy business in Singapore.
We were acquired in 2015 and since then, I have been involved in scaling the business higher and greater than ever before: it is an amazing experience.
From 2014 onwards, I started studying, testing, experimenting and documenting my journey of making money online as well as dividend stock investing for passive income, and over time, as I got better at it, I started making more money online, and I thought to myself:
NigelChua.com is dedicated to the pursuit of building and living a
passive income lifestyle, through a combination of Earning More, Saving More and Investing More.
And that’s how it all started. If you’re looking to build and live a passive income lifestyle, I welcome you to join me, and let's adventure together =)
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Patterns and principles to personal development, progressive living, life, and success are not entirely my own, despite the fact of me ruminating, seeking understanding and wisdom, the revelations and epiphanies that arrive in my head.
They were set in motion way before I was born, and will continue to be here way after I’m long gone from the earth. These patterns and principles are set in place by a Creator God. The only thing people can do is to either discover and acknowledge them, ignore and dismiss them, or perverse them.
Perverted principles lead to perverted lifestyle and living.
Living by good and timeless principles always leads to personal development, power, prosperity and peace, nations and societies to flourish and grow. The ultimate standards of human behaviors, rules and principles are found in the words of this Creator God, in the Holy Bible.
This is more than opinion, it is my personal belief, upon which I’ve based more than thirty years of my life (as of 1982) and my future and all eternity.
You are free to form your own ideas and opinion.
The world’s greatest book for learning successful living, personal development, prosperity and progressive living is not in any textbooks or handouts or courses, but in the Bible.
We’re all free to choose today because we’re given free will at the point of creation. Our freedom of choice is the true freedom that we have – we can choose to to ignore this power and live as though we have no choices, or we can live empowered and live life with choices.
The greatest choice a person will make in this world is what they will do when they leave this world. I take on a verse in the Book of Ecclesiastes “A wise man thinks much of death, while the fool thinks only of having a good time now” (Ecclesiastes 7:4).
The principle herein is, “what is your exit plan today?”, “think of the end first but start at the beginning” and “bearing in mind our end goal as we live day to day.”
When we have a job, we think first of how we want to get a promotion, think of the strategies and plans and actions we need to take consistently to get a promotion.
In the same understanding, when we plan and prepare for our own lives, we must look at and to what we want at the end of our lives to determine what kind of lives, strategies and plans we need to choose and how we live it.
I believe the bible leads us to right choices, good principles and good patterns to successful, peaceful and prosperous living.
If you’ve never read one, I encourage you to invest in one and read it today (or you can access one online, free of charge at Bible Gateway).
Read it, and learn to apply and live it.
If you hadn’t received Christ, and would like to do so, you can do it right now. Simply open up your heart and mind, and say this:
There you go! To start off, you can start reading a bible by either buying a physical one (I use both the New King James Version and The Message Bible), but for more convenience, you can use www.BibleGateway.com.
Happy growing! I’ll be more than happy to answer any questions that you have on Christianity and spirituality, on top of other personal development and business-related questions – connect with me at firstname.lastname@example.org.