Assets Pay For Lifestyle And Luxuries. Period.

This is number #1 rule to build and live a Passive Income Lifestyle:

Always ensure that your assets pay for your lifestyle and your luxuries, and not just put everything and anything on your credit card/tab or from your earned income.

Robert Kiyosaki put it in the best and simplest term to explain what an asset is, in his Rich Dad Poor Dad series:

An asset puts money in your pocket; liabilities take money out of your pocket.

You must be able to identify what is an asset, and what it does, before you can build, buy and acquire more. An asset puts money in your pocket via rental/lease income, dividend or royalties. Assets are businesses, properties, real estate or intellectual properties, be it in full (full ownership) or parts of (such as stocks or shares).

As assets puts money in your pocket periodically, what the rich does is to ensure that their assets provides the income to sustain the level of lifestyle and luxuries they wish to have.

Financially and personally, I find that if you spend your hard earned money and income on lifestyle and luxuries, it isn’t sustainable, because if you want to buy more luxuries and afford continued lifestyle, you then need to earn more income – I prefer to be a bit more strategic, and use my hard earn money to FIRST buy, build and acquire my assets that can fund my lifestyle and luxuries.

When the passive income from my assets can sustain my lifestyle and luxuries, then I have options to take any surplus from earnings from income or from assets to invest in more assets, and this is how the rich get richer – just keep identifying and acquiring more and more assets that puts more and more money in my pocket.

If you’re finding that you have insufficient every month, buying and acquiring assets may not be your first focus, you may first have to ruthlessly cut out unnecessary expenses and combine it with the pursuit of:

Where to next?

Head to Home Page

Start with these:

  1. Start Here, 
  2. FIRE Manifesto
  3. FIRE 101 and
  4. The Passive Income Lifestyle Framework.

They are my recommended to start with articles that ties in the entire framework, philosophy and working model of FIRE Lifestyle

Save-Earn-Invest More Articles

  1. Ruthlessly Cull Unnecessary Expenses
  2. Respect The $10s
  3. Small Tweaks To More $10s
  4. $150K+ By 35 - Reality Or Delusion?
  5. Start An Online Side Hustle With Solo Build It
  6. Start Investing For Passive Dividend Income In Just 3 Days
  7. How To Retire With $3 Million
  8. Invest To Spend On Luxury & Liabilities (Whatever You Want*)
  9. Shocking Maths Of Early Retirement (It's Less Than You Think)

See more Save, Earn & Invest More articles here.

Others

  1. Contact me by email at (even just to say hi) at nigel@nigelchua.com
  2. See the latest articles and updates at the blog
  3. Check out my resource page to see the tools I use
  4. See my top two resources for online business below: Wealthy Affiliate (left) and Solo Build It (right) - both have very specific strengths and functions

Wealthy affiliate: #1 to learn how to build profitable wordpress online businesses

Wealthy Affiliate is my recommended for WordPress online businesses.

I've been a premium member of Wealthy Affiliate since 2015 and there are a number of pros to be with them, which you can read at my Wealthy Affiliate review here.

One of my favorite points of WA is that they have a try-before-you-buy forever-free membership which you can sign up here for free. No credit card needed.

solo build it (sbi): #1 for offline businesses local search engine ranking, traffic and lead generation

Solo Build It (SBI) is my #1 tool for local search engine optimization (SEO) domination as well for online marketing which I've been using since 2010 personally for multiple projects.

Read why I chose Solo Build It...

...and more importantly, why I still stay with Solo Build It (SBI) till today and use them exclusively for all my SEO, traffic and e-lead generation.


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