Table Of Contents
What would an extra $500 – $1000 passive income every month mean to you?
Does it mean that you can
- buy all the lattes you want?
- travel 4-8+ weeks a year or more (even fly loved ones and friends along)?
- invest regularly for more investment passive income?
- choose the kind of work, colleagues and employers you want?
- work less or retire early?
- have your spouse quit their jobs to take care of themselves, kid(s) or loved ones?
- send your kids to private tuition to better prepare them for studies?
- pursue interests, passions and dreams?
- be more generous with themselves and others?
- you’d become more confident and breathe a little easier?
Will it help you build and live the kind of life you want?
The people I love and wanna spend my time with all the time
Passive income and nigelchua.com
Passive income streams and the passive income lifestyle is still applicable, meaningful and fun today, since I started my journey in 2008. It’s been a long time.
Today, I’m grateful that all my lifestyle and living expenses are funded by my business and investment passive income.
Fact: I wasn’t born rich or with these streams of passive income
I was an immigrant to Singapore (moved here in 2002) and I knew no one here. No family or friends = no support and no one to “open doors for me”. I had to learn to make friends, network on my own.
I quickly realized that I’m truly on my own, and I dedicated my time and energy to learning to build streams of income through business since 2008.
Since then, I’ve been continuing to build business passive income and investment passive income streams as well as sharing content, training and resources on building a passive income lifestyle here in nigelchua.com.
Every blog post, guide, video, podcast episode and course is designed with one thing in mind – to help individuals develop themselves, build streams of passive income including starting and growing their online business.
Read more about me here.
The trinity of passive income engines
Any passive income systems or engines are the most stable and can progress continuously when there are three pillars to support it:
Business Passive Income
Earning more and learning to build business passive income streams is one of the most powerful enabling skills you can learn.
I recommend everyone I know to start a business on the side (side hustle / side gig) for so many reasons and plus points including
- building streams of passive business income as you grow, hire and leverage on technology and other people’s time
- have options in case your job gets “downsized” or you need more flexibility in time
- using time productively to learn entrepreneurship which a transferable skill which you can teach loved ones and students
Start here to learn more about building business passive income streams.
Investment Passive Income
The holy grail of passive income, where your money works harder and make more money for you
Every dollar I earn, save and get from my investment is a worker that I will delegate to work harder to make more for more – imagine if I have $100,000. In my mind, I imagine that I have 100,000 employees whose #1 job is to multiply and get me 5%, 6%….15%+ and more each year.
Year-on-year, indefinitely.
Read more on building investment passive income streams.
Saving More, Optimize Spending & Retiring Early
If one cannot spend and save wisely, no amount of earning is enough.
Every dollar you save will have a direct impact on future net worth, how early you can retire as well as business and investment passive income streams. They all add up.
Saving more articles:
- The humble $10
- Early retirement articles:
Life You Love
Life is indefinitely more than just making and having more money, and the truth is that we all need money to have a better life.
It helps us pay the bills, have medical coverage, give to causes and businesses we care about, and provides us comfortable living. Extras can also lead to us buying our freedom and time.
Money And Time
Time is the ultimate non-renewable resource – money is always there to be earned, spent and invested but unfortunately time isn’t.
Yesterday is never gonna come back – neither is last week, last month, last year…you get the point.
Money As An Enabler
I see money as an enabler to buyback my time and allow me freedom to spend my time and energy.
Money, passive income and wealth are important to pay for stuff and be comfortable, but in the end money to me is an enabler, vehicles which accelerate achievement and maintenance of true time freedom.
They are big and important enough that it can hold you back “stuck” if you’re running in circles; and once you become financially independent, you “unlock” the next level of living: freedom to pursue people, projects, growth and stuff that we’re passionate about…and the bandwidth for serendipitous adventures =)
- Practical Philosophy & Growth
- Fun, Travel, Adventures & Serendipity
- Health & Fitness
- Family, Parenting & Leadership
- God, Faith & Christianity
- Love, Relationship & Dating
- Giving Back & Philanthropy
- Emotion, Mind, Beliefs
- Passive Income Lifestyle
- Business & Money
- Marketing & Sales
This site is a personal development site, about building and living a life you truly desire, dream and love, and showing you how you can get there without having to build the next big thing.
It isn’t so much an in-depth financial and passive income blog but it’s more about perspective transformation and lifestyle change – in this case, your attitude will determine your lifetime wealth more than your knowledge.
I’m glad you’re here, so let’s get started.
Nigel
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