Don't get me wrong, I love my dividend stocks.
I mean, I love the passive income that comes from all the profit surplus that I inject into dividend stock investing, and in Singapore, not only dividends and capital gains are tax free (thank you Singapore) but the dividends are wired straight into my bank account (see my passive income reports)
This is passive income in its purest.
Of course, there are quite a few shortcomings:
A 5% yield from $100 is only $5, and that's insufficient no matter how I look at it. For dividend stocks investing, yes, it's a long term game for me, but that's also why we need to accelerate our income by first building passive income businesses that increases our income flow for investing and daily use.
Then we take the additional profit surplus and plow it into the dividend stock investing, so instead of investing a couple of thousand per year, we can invest $10K or more per year, accelerating the process.
No matter how I look at it, building an online business on the side is very important to not only have extra income to use or invest, you also learn more skills, and you then are protected from a 1-income-1-job situation, so whatever happens to your job, your side business will sustain and keep you going.
If you're a student, stay at home mum (SAHM), working full time or part time, or retired: you must build an online business on the side. Please don't quit your job yet, build it on the side until it's profitable enough to replace your salary, then you have more options.
It's not a luxury but truly a necessity for your future.
I've built multiple businesses (and lost multiple too) and I can tell you frankly that building a business on the internet is the cheapest/most cost-effective way to business. There are thousands of people who do so sharing on topics that they're passionate about (like how NigelChua.com shares on passive income and online business, which is my passion…for years now).
I know I am making some money online (see my income reports), and I know my financial future is getting better and better. But it is not easy, and takes a lot of time to learn and apply but I am building my passive income internet businesses that will work for me day in, day out; serving readers and customers profitably and delivering value 24/7.
To learn how I to make money online, join my mailing list and visit my resources page to see all the tools I use actively to build money making online businesses.
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