How To Retire Early (Or Get Richer) With The Humble $10

Ah, the humble $10. So easily and often neglected and mis-used.

In Singapore, that'd be about:

  • 2 starbucks drinks
  • 2 cans of beers
  • 1 movie ticket
  • 0.5-1 cab ride
  • 0.2-1 lunch/dinner
  • 4-5 pieces of single piece bread from common bread/bakery shops
  • half a pack of cigarettes
  • some impulse purchases that can be useless (the 1000th hair pin etc)

You get what I mean: the humble $10 is terribly under-rated and unappreciated. Think about it, how many $10 decisions do you make a day, that you could possibly save on?

  • 1x per day = $10 saved per day
  • 3x per day = $30 saved per day
  • 5x per day = $50 saved per day

Say you could save $30 per day, multiply that by 365 days per year = $10950 savings in a year.

If you invest that amount in dividend stocks with an average of 5% return, that'd be $547.50 passive income

  • In 10 years, you'd have $144,614.32 with $7,230.72 dividend per annum (and growing)

  • In 20 years, you'd have $380,175.81 with $19,008.8 dividend per annum (and growing)

  • In 30 years, you'd have $763,880.65 with $38,194.03 dividend per annum (and growing)

Yes, from the humble, unassuming and under-rated $10.

And that's based on 3 occurrences per day on determining if you use $10. Or not.

What happens if it's 10x per day? Or more? And that's just cash decisions.

What happens if you:

  1. buy a cheaper phone plan instead of the more expensive one, saving you anything from $20 to $100 per month?

  2. buy a slightly cheaper internet plan that's slightly slower, spending $30 per month instead of the cutting edge $60 per month, saving you $40 per month

  3. don't subscribe for cable TV, saving you anything from $65 to $100+++ per month

  4. don't subscribe to newspapers, magazines, that monthly wine/toy/food etc, saving you at least $100 per month and up to $300+?

The permutations and possibilities add up a lot. With just the above 4, that's a minimum saving of $225 per month, or $2700 per year (assuming you cannot save on anything else and just the above 4).

Take this amount, invest it in dividend stocks and roughly 5% return:

  • In 10 years, you'd have $35,658.33 with $1,782.91 dividend per annum (and growing)

  • In 20 years, you'd have $93,741.98 with $4,687.10 dividend per annum (and growing)

  • In 30 years, you'd have $188,354.13 with $9,417.70 dividend per annum (and growing)

Imagine how much faster and earlier you'd retire.

In fact, I'd recommend you take USD 299 out of your savings per year, and invest into building and improving a skill of making money online. I recommend Solo Build It to build your online businesses, which I've used since 2010, and I recommend them because I've so much outcomes with them (read my review here). On NigelChua.com, I use WordPress but that's because NigelChua.com has been around since 2009 =D

PS: if you're a die-hard WordPress fan, then go with WordPress (I use Bluehost to manage all the domain name and hosting stuff). But if you're not technically inclined or want your online business to be easier with less tech hassle, I highly recommend Solo Build It.

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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