Welcoming Little David Into This World (Welcome Son)

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Little David was born on 9th March 2017 as the latest addition to the family, and boy, were we glad was our firstborn, Olivia, adores him to bits.

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As a father, what more can I ask of my children, than to love each other? I pray that as they grow up together, they'd love each other more and take care of each other.

I am grateful for my wife who has brought and borne a wonderful second child to our family; pregnancy and motherhood is never easy, but parenthood is amazing (though also very tiring).

I am grateful for my mum, siblings, and especially to my parent-in-laws who are helping with the confinement food for my wife, it really helps her recuperate better too.

Am also glad and thankful for all my friends, cellgroup and most importantly God who gave us a healthy baby.

We're tired but grateful and happy. =)

Of course, this website NigelChua.com IS about personal finance, early retirement, passive income and online business; so, financially speaking, it does cost more money for pregnancies (think gynae fees, supplements, medicine, scans, health drinks etc) then to delivery (hospital and doctor fees and medicine) and then to confinement/post delivery and then to child upbringing.

It all costs money, and it'd be best to have planned in advance. We stocked up a stockpile of about $30k for the pregnancy and delivery (we have a BUPA insurance, and we hope it'd cover most of our hospital/delivery fees); and the confinement period should be about $500 - $700 for a month; and then should be our regular expenses as a newborn doesn't add much costs to our family except for the occasional doctor visit ($100 or less) follow up.

In Singapore, having children is more expensive only as they start having school, classes and ECA, and we hadn't reached that stage yet, so this time, it's still manageable and not stretched yet (Olivia attends classes daily in a day care/play school that costs us about $600 after subsidies - thanks to Singapore Government - and that's the fixed costs we have for our kids at this point in time)

But, we need to keep stockpiling and building our passive income portfolio if we want to ensure that our lifestyle is protected and we can cover their schooling/upbringing expenses on top of our lifestyle - which is the reason why I targeted for $100k passive income per annum.

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SGD 2,000,000 invested in dividend stocks with average 5% returns per annum by 45

SGD 2,000,000 in cryptocurrency

Owning, affording and living in a landed property in Singapore (or relocated to another country without worry of money) by 40

Publish at least one book by 40 years old

Online businesses serve readers and clients well (ie readers make more money, have happier/freer life etc), and website makes SGD 10,000 per month

Ongoing: spend more quality time with children, wife, family, bible, God.