What happens if you have streams of dividend and passive incomes that come in like clockwork that pays off your monthly expenses like housing, food and drinks, transport, utility, telephone and internet bills and more?
Does it mean you can spend more time with your spouse or your kids or your aging parents and family?
Does it mean you can enjoy your work and colleagues more?
Or it means that you can travel and see the world a bit more?
Or that you can give more to philanthropy causes, or volunteer more?
Or start a business that you've been thinking about for years?
I'm not here to sell you shit or hype you up. Not interested.
I'm here to show
you a better way of life, such that you don't become a wage-slave, that
you don't get stuck where you are financially and have to keep working
to pay the bills and to just live.
Yes, we all may have made
mistakes, we may have been born into less-than-fortunate situations - we
all have their struggles.
I've lived paycheck-to-paycheck, paying off bare minimum, borrow more - it's not great. Until I got more and more disgusted with myself, my money habits and my life then. Something needed to change.
I realized early in life, that
not many (or even one) will help me become rich or financially free or to retire early...except me. I'm the most motivated one to do it, and it's 100% my responsibility, because I'm the 100% beneficiary of whatever I do, be it good or bad.
Not because dividend investing or saving is a special, hidden secret - it's actually in plain sight! But because it's unsexy, boring and profoundly simple that not many people do it. It's just boring. And one thing I learn: when it comes to reliable and consistent passive income, I don't want it to be exciting like ups and downs - I want it to be predictably boring - just keep the money coming in in a boring manner.
If what I speak of makes sense to you, then welcome to the family and I hope, is the beginning of a great adventure of a lifetime for you.
basic fundamentals of the passive income lifestyle
I focus around the themes of early retirement, streams
of passive income, financial independence, freedom and serendipity.
Sounds lofty and to make it simple, there are only a
three core "KPIs" (key performance indicators) to be financially
Save more (at least 30-75% of your active incomes)
Earn more (monetize your hobbies and free time)
Invest more (investing as much of your savings as possible into stable cash-paying stocks or investments)
GOAL: You will reach a point where
your dividend/passive income is more than
your living expenses, and then
100% of your active income can be
invested to more dividend stocks.
Being able to save more, earn more and invest more forms the strong
stable tripod of early retirement, passive income and financial freedom.
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:
The fastest and most expensive Internet connection
Latest gadgets and phones and expensive mobile data plans
Subscriptions of magazines, food, candies
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 invest and from the dividends,
spend on stuff that you actually care about.
100% guilt free.
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
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.
I want you to be able to freely spend on stuff that matters to you, be it:
buying that $1000 pair of shoes
taking your family for a family getaway worth thousands of dollars (or upgrading their package...because you can and have the budget for it)
stop work and spend time doing stuff you love and spending time with people you care about (like working lesser or from home to be with your kids or just because)
giving to a cause/foundation that makes a difference in the world (like building schools, eradicating hunger/poverty/etc)
....without running out* (aka budgeting for in advance from your passive income streams).
And that's where Earning More and Investing More comes into play.
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.
However, the 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 #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.
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. An example,
say you are able to set aside $1000 every month for 20 years, and with an average
compounding interest of 4% per annum, you will end up with:
Year 01: $12480
Year 03: $38957.57
Year 05: $67595.71
Year 10: $149836.22
Year 15: $249894.37
Year 20: $371630.42
becomes your nest egg, of which you can then, if you so decide, to
spend/live off the dividends. 4% dividends on $371630.42 = $14865 per
year, which is $1238.76 per month.
Not bad (compared to just saving $1000 x 20 years = $240K). So if you want to retire with more dividends, then you:
need to save more
need to earn more*
need to invest more
I'm a big, big believer in entrepreneurship and side hustling (especially with an online business where there is no ceiling cap, where your customers is global, and where you may find joy serving - I recommend Solo Build It for to learn and build a solid online business, just USD 299/year)
Core Belief #3:
Every dollar and cent is an employee that works for YOU,
which is delegated and assigned to make more dollars and cents for YOU,
There is so
much more upside and potential, but combining Saving More, Earning More
and Investing More works synergistically together.
Check out my Where To Next below and the topics that interest you in the left side bar - talk soon!
join me in intuitive, loving, gentle and good success and self mastery that actually matter. no hype. no bullshit.
Hang around here for some time, you'd see that I don't
well with hype or bullshit. I can smell that typically a mile a way, and
I hate that shit too.
I've been working on myself and on
NigelChua.com for years, since 2006, and only in late 2019 I started to
focus on intuitive and loving leadership, entreprenership and personal
Here are some areas that I work on a consistent, ongoing basis.
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.
#2 Publish/Write Kindle Books For Recurring Royalty Passive Income
Kindle Money Mastery 2.0 is comfortably and confidently the best affordable Amazon Kindle Publishing Training Program Since 2013. It provides you a hand-holded step-by-step video training on how to write and publish a Kindle book in 24 hours or less.
Billionaires are investing in precious
metals and cryptocurrency such as Richard Branson, Peter Thiel, Eric
Schmidt, Michael Novogratz and not to mention scores of very smart
people and multi-millionaires like Tim Ferriss. I too am investing in
NigelChua.com has affiliate links which means I get paid a commission if you purchase a solution or product through my links (paid by the vendor) - thank you for your support and love. There are other ways to support / donate too.
Search In NigelChua
Hello, and welcome to NigelChua.com!
I'm the founder and writer of this site as well as senior hand therapist and director at Phoenix Rehab Group (phoenixrehabgroup.com).
Also husband, father, Christian, entrepreneur and dividend stock investor.
Link To Us!
- If you've enjoyed any of the articles here, I'll really appreciate
your help if you could link to the specific post/article/homepage from
your website, blog, LinkedIn or social media accounts such as
FaceBook, Twitter, Instagram etc - this will help us to grow and serve
you better - thank you! =)
Note/Disclaimer: The information in this blog/forum/comments is distributed on an "As Is'' basis,
without warranty of any kind. The site owner may have a financial
relationship with some of the companies or products mentioned on the
blog. This blog is a participant in the Amazon Services LLC Associates
Program and other affiliate programs, a means
for sites to earn advertising fees by advertising. Advertisement does not imply endorsement. Information might
not be completely comprehensive and some readers may want to consult
additional sources. This blog/forum does not contain professional
advice. For professional advice, consult a professional. By reading this
blog/forum/comments you acknowledge full responsibility for your actions with
respect to any loss or damage caused or alleged to be caused directly or
indirectly in connection with the blog/forum.