Don’t Settle And Don’t Sell Yourself Short

Silver lining of COVID-19 is that it shook everything and turned many things upside down.

I hate that people suffered health-wise, and many died due to this pandemic. There is nothing that can change this fact and pain.

On the small upside, this pandemic forced to change.

We had to stay home, stay safe, and not surprisingly, we had many downtimes.

It’s in the silence of the downtime that we can usually hear ourselves and our thoughts, and I think the common question is that “is this it?”

As in, is this the kind of life we want?

Comfortable, Peaceful Living?

I live in peaceful, safe and stable Singapore.

Women and children can walk outside at 3 AM in the morning and they’d be 99.9% safe.

I run a business called Phoenix Rehab, a physical therapy, hand therapy , TCM and massage business.

I sleep well at night (other than my newborn waking me up) – I’m alive.

I thought this was okay.

I thought it was okay to be living a quiet-ish life where I

  • mind my own business (and dont bother others)
  • have food and water
  • and enough, money’s okay (we’re doing not bad as physical therapists)

And that running my business would be enough.

But i’m starting to ask myself if i’m shortchanging myself.

As in, am I wasting my own time?

My abilities?

Am I settling?

In 2022, I’m 40 years old.

As I mentioned earlier, for a hand therapist with a physio wife, we did (and do) pretty okay with growing a business, selling our first business for 7-figures.

My wife then went on to start a business and I even got an 18 month sabbatical before I decided to help her out.

We’ve a wonderful team and business as well as 3 beautiful kids.

I’m grateful but also uncertain

Like there’s a nagging sensation or sense…

like a spider-sense eh

As I started off earlier, one of the key benefits of the pandemic is that it turned almost everything on its head. In 2020, Singapore goverment got most of us to stay home for a good 1-2ish months.

It was uncertain times, and many of my competitors and people were very vocal about how dissatisfied they were yada yada…but I felt at home because of my 18 months sabbatical, and I could be more with my kids and wife.

I like(d) it.

The downtime gave me a reminder and question if the life we’ve been living is the one we want to keep doing.

Hey it’s not just me, it’s many.

Like many others, I too question.

It seems that it’s a movement where people are taking action en masse, see some examples:

We’re talking millions of people quitting jobs as they pivot.

No longer willing to settle, or maybe they’re just tired of lockdowns.

Then again, there are many bullshit jobs out there –

bullshit jobs are jobs you dont care for that you do to pay the bills…the kind of jobs where you dread Mondays and look forward for end of day on Fridays.

Bullshit jobs…have bad negative effects.

The highest problem is that they make you sad. They make people sad…but ironically, many people will do their level best to NOT lose their bullshit jobs.

Why?

Cos it pays the bills, and it’s pretty easy to “coast”. It’s easier in big companies where there are many layers of people that support other layers of people and more.

Ew, typing that was painful reminder as to why I stay an entrepreneur, cos I’ve met many bullshit individuals in corporates and even competitors.

If you love your job, you’re the top 15% lucky ones.

According to Gallup’s State of The Workplace Report, 85% of Americans are extremely disengaged at work and 81% are actively looking for new jobs.

85% and in my book, that’s majority of people have bullshit jobs they dislike or gasp, hate.

And that’s where the pandemic are shaking things up.

People are quitting bullshit jobs to find one that either

  • makes more money for them
  • provides more flexibility
  • more meaningful

There are more taking up entrepreneurship too:

A whopping 5.4 million new businesses registered in 2021!

Bloody good if you ask me – it’s easier and easier in the history of mankind to launch your own business and make money on your own terms. It takes lots of passion, gusto, and work.

Problem: It’s easy to hide.

I see this everywhere I go.

In fact, I’ve also faced individuals and corporations who daringly do blatantly wrong things…because they likely wont get caught. These guys and gals? Fuck them, I dont care.

But those I care about, the everyday people, who reach out and tell me that they feel stuck.

I reach back and tell them that they usually know it in their sense and intuition.

And then they write back that they’re scared (behind multiple layers of fears and what-ifs).

I empathize.

I’ve been there, and in some levels, I am still there.

I’ve been stuck many times.

Sometimes it takes months for me to overcome, sometimes its longer for it to “click” or for me to just give it a go.

Let me tell you something about intuition – your intuition is one of the most powerful sensors and inner compasses that you can have. The more I use it and hone it and trust it, the better and better it becomes.

…and the more it works for me.

Recently my intuition has been saying that I’ve been playing and thinking too small.

That I’ve been playing it “safe”.

I’m paying attention and putting my senses to writing, on paper.

One thing I realize is that my intuition is pretty spot on, and the more I resist it, the worse I usually get.

Upset I mean.

No, upset is not the word.

It’s really like tingling spider-senses which gets stronger and stronger, and eventually I cannot ignore it.

And when I do it, it’s like

Why did I take so long to do that?

Usually it leads to growth

Why I ignore these “spider-sense tingling” is because there is change and effort…which means it can lead to

  • failure
  • confrontations
  • changes
  • growth
  • insight

I like growing and learning – this is so “sexy” on paper.

Just that real learning and growth sometimes the process is painful and annoying, ugh.

I look back at my 20 year old self and my Lord, I wouldn’t recognize him.

And neither would he recognize me – I was a sucky, lumpy idiot back then.

Less of an idiot today, and I’ve grown so much too.

It’s easy to settle…but it’s costly

Coasting and settling is easy…but it’s very very costly.

Not in terms of just money (which we can count easily), but moreso in terms of opportunity cost.

No one lies in their death bed asking themselves:

I wished I earn $2M more, ah I could die better now.

Of course not.

On our deathbeds, I imagine we regret all the opportunities we do not take.

AKA settling.

We settle cos we’re scared.

We settle when we dont know what else to do.

We settle when it’s just easier to stay status quo or do nothing as compared to thinking hard and doing and failing again and again to figure out and course correct what we actually want to do.

When you’re doing well, everyone will tell you to keep doing what you’re doing.

You see, capitalism runs on that – doing X gets Y, and if we want more Y, do more X. Model that, and do it again and again. Squeeze processes and things and stuff and sometimes people.

Rinse and repeat.

Knowing yourself is the beginning.

I know I dont need $1B.

Heck, I dont even aim for $100M.

I dont even want to run a big company, or take a company public, or become a celebrity or politician.

All I want is…to be free, healthy and happy.

And that remains the same.

Alright back to my intuition: I’m starting to sense that I am on the cusp of something.

That I cannot play small or safe any more.

Like I need to go deeper, double or triple down.

Stop wasting time.

Make a bigger impact as I live and leave the world.

What about you?

Are you shortchanging yourself?

Crypto.com Cuts Earn Rates Again – Stablecoins 2% Flexible Term

Arghhhhh!

I shared in an earlier video how crypto.com was changing their crypto.com earn rates which would go live on 4th April 2022 (video here: https://www.youtube.com/watch?v=xUlA6bTpDyw)

And most of our begrudgingly lick our wounds, accepting it generally, and I would believe many of us are planning our next 3-month lock in…but alas!

Crypto.com made another sudden change, by further decreasing the rates on 26th March 2022, one week before 4th April =(

Basically, the rates dropped more eg if you stake 4000 CRO, a 3 month USDC earn would net you 8% on the first USD 30K and anything above that would be 4%. (From 12% pa to 10% to 8% pa)

Does this mean doom and gloom for crypto.com?

Nah, I dont think so – their T&C indicated they could change the terms anytime, and though I’d like to to be done in a cooler, open and sincere manner, they didn’t.

But this doesnt mean that their company suck.

If anything, crypto.com is doing a lot of aggressive marketing and advertising for their platform, and I am looking at good price action of CRO (cronos) coin as a whole.

I will be aiming to upgrade my card from icy white to obsidian to get more cashback too.

I’m also at a place in my life where I am looking to enter real estate for both living and rental, so…I’m gonna roll with this. They never promised we would get those delicious 12+2% forever, so I enjoyed it whilst it lasted =)

For those who are searching for more stablecoin earn rates

I’ve been hearing people mention these two:

  1. Anchor Protocol is paying up to 19% per annum (droooooooool)
  2. Celsius Network is paying up basic at 7.1% and platinum tier at 9% which is pretty sweet

I have not used these both at all, so I cannot vouch for them on a personal basis, buuuuuuuuuut celsius looks pretty solid as a company as well. I will be taking a look at them to consider diversifying from crypto.com

Not financial advice – I am sharing with you the most recent crypto.com changes to their crypto earn program, how it’s affecting my passive income cashflow, what I’m planning to do with creating more passive investing income.

6 Easy Ways To Compound CRO (cronos) and Upgrade Your Crypto.com Card Faster

I have been a cronos (CRO) hodler since 2019, and have been stacking and compounding them since then. I am bullish on them with their app, exchange and marketing; but do your own research.

Here are six (6) easy ways to compound your cronos coin to upgrade your crypto.com card faster.

Dont have a crypto.com card yet? Use my link or referral code n9h6j72gs4 and we both get USD 25 in CRO when you stake for Ruby card and above =)

1) Crypto.com CRO stake

You can get 2-6% per annum for putting your CRO into crypto.com earn; 2% for flexible term, 4% for 1 month lock in and 6% for 3 month lock in (all % are per annum and payable weekly).

There is a minimum amount of 500 CRO required each time you add to this stake.

2) Crypto.com Exchange Staking 10% per annum

This one requires a minimum of 5000 CRO and 180 days to enjoy the 10% per annum returns, payable on a daily basis.

Minimum top up is 1000 CRO each time and each top up will renew the 180-days term.

3) Crypto Stake* (card with tiered stake returns)

From here on, all the rewards are directly correlated to the level of card you have.

Generally, the higher the tier (highest tier is obsidian, then icy white / rose gold, then indigo / jade, then ruby and lastly midnight blue). The higher the tiers, the more CRO is required to lock in.

Icy white, rose gold and obsidian gets a 12% per annum return on CRO staked amounts, paid weekly. Indigo and jade are 10% per annum.

4) Crypto.com Card use + CRO cashback

  • Obsidian cashback 8% CRO cashback
  • Icy white / rose gold 5% CRO cashback
  • Jade / Indigo 3% CRO cashback
  • Ruby 2% CRO cashback
  • Midnight blue 1% CRO cashback

5) Crypto.com Bonus 2% Earn for selected Crypto Earn 3-month staking for obsidian, rose gold and icy white only

For all icy white, rose gold and obsidian tiers, whenever you set a 3-month term on Crypto.com earn, you will get bonus 2% paid out in CRO coins too, which is a nice cream on top of the cake.

6) Crypto.com Card CRO cashback

For selected items like Netflix, AirBNB etc (10% for AirBNB and Expedia; up to 100% for spotify/netflix/amazon prime).

3 Key Lessons From Rich Dad Poor Dad Book That Changed My Personal Finance

In this video I’m going to share with you the three key important lessons that i got from this book.

It’s called Rich Dad Poor Dad, and it’s authored by Robert Kiyosaki.

To me, it is my first book that opened my eyes and mind to the world of personal financial education – my parents never spoke to me about money and I just observed lots of weird money habits of borrowing but never about making more.

This book was so easy to read and understand, and I remember that I’ll pick it up every now and then to re-read it all over again.

Robert Kiyosaki Brief Background

If you read his books, you’d know that Robert is a successful entrepreneur and real estate investor, but he didnt start off that way. Robert’s story is a familiar-sounding rags to riches entrepreneur story.

His father is a school teacher, who didnt learn about money, and continued to go to school to get more degrees to earn more…who lost it all when he tried to enter politics and got smashed out. He then took his hard earn savings and tried his hand in a franchise…and then truly lost it all.

On the other hand, he has a very close friend who has a very very wealthy dad, and Robert soon realized that he could compare the money practices between his friend’s “rich dad” and his own “poor dad”, and that’s how the book came about later.

Robert started by being a fighter pilot in the air force, before going into doing sales at fuji xerox and then saving money into starting his first company: a nylon velcro wallet company in 1970s. It was a hit initially, with a lot of merchandizing deals but it eventually fell apart due to piracy and overseas competition, and he became a bankrupt.

He had a few other business but eventually succeeded in the business of financial education and personal growth. He gave seminars and taught around US and the world, until he published the book Rich Dad Poor Dad, together with the gamification of financial education with his tabletop learning tool, and that’s when his business took off

The 3 Key Lessons I Learnt From Rich Dad Poor Dad

#1 Make Your Money Work Harder For You

As an employee, most of the time, you get paid for your time.

Sometimes a little more.

And that’s pretty much it.

No work = no income.

The rich, on the other hand, though they work hard, they have a purpose and focus, which is to either raise money or provide cashflow to build or buy assets that make more money for them.

#2 Assets Put Money In Your Pockets and Bank Accounts

You got to know the difference between assets and liabilities – assets puts more money into your pocket, liabilities take the money away from you. Robert explains that rich people acquire assets such as investments and securities whereas poor people acquire liabilities such as commitments, obligations and shit that make them poorer.

I thought Robert was kidding…but over the years, this is true even till today. I see people making money for expensive cars and watches but shun away from investing.

Assets are anything that makes more money for you.

This can include

  • stocks which are mainly public listed businesses on stock exchanges
  • venture capital or angel investing
  • cryptocurrency
  • real estate

Let me give you an example, if you buy stock of a good business at the right time, you’re probably gonna make a positive return. Say you put in $1000. After 5 years, if you bought it at a good entry price, your stock would have grown positively and you can sell it for a good profit.

This is fundamental to investing. Put in X amount and get back more than X amount, ideally 2X or more.

See how that works about investing into assets?

Basically you need money, then pick the right investment, enter at good-ish time and do nothing but hold (or hodl?) and watch your money grow. After a while, you then can sell it for a good profit. Of course we’re not gonna just “all-in” into 1 investment right, that’s too risky, that’s why we have to have more than 3-5+ of these, depending on your budget, risk appetite and growth desire.

#3 Reduce Spending As Brutally As Possibly In The Short Term

Expenses are something that you can have more control over as compared to controlling market forces or share price (man if i could control those 2, i’d be a billionaire by now lol ehehe).

Aggressively kill off your unnecessary spendings and debts, and the purpose of this is by doing this, there is 2 very direct benefits

  • you need lesser to retire and become financially independent
  • you free up more money to buy more assets that make more money for you

Thank you for watching The Book That Changed My Financial and Business Life – 3 Key Lessons From Robert Kiyosaki’s Rich Dad Poor Dad

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Your Side Hustle Is Your Biggest Early Retirement Accelerator

I tell this to my family, friends and even employees/contractors all the time: keep your day job BUT start a side hustle during your free time.

Your day job is to put a roof over your head, food and drinks on the table and some savings.

Your side hustle?

It will change your financial future and will likely be your biggest early retirement accelerator, waaaaay more than ability to save and be frugal.

Not to mean that ability to save and spend wisely isn’t good, it’s a good start but if you truly want to retire early and be financially independent, then you need to consider starting a side hustle.

Entrepreneurship may sound overwhelming, but to me there’s nothing more exciting than a person who wants to take care of their own financial future, pursue their passions and dreams and start their own business.

There are so many what-ifs around entrepreneurhship that makes business overwhelming, which stops so many would-be entrepreneurs from starting – and that’s why I recommend keeping your day job, your full time job, and dip your toes in the water with a side hustle.

The Long Term Problem Of Inflation and Time

Free inflation Images & Pictures | Royalty-Free | FreeImages

Inflation is eating away the value of our money, and though banks are saying that the national inflation is low, say 2-ish percent…but the real inflation is when you go out to the marketplace and buy stuff for yourself.

United States February 2022 states that the inflation rates are 7.5%, highest since 1982. In Singapore, the petrol prices just went up 3-4x in a span of weeks in March 2022.

And we hadnt even touched on passive investment income and time.

Worse is “stagflation” where cost of living goes up, but wages dont catch up with the increase in costs.

So What Can You Do?

If you want to get out of the rat race, the very rat race that takes up most of your days and energy, then you need to change the way you think about making money in the first place.

After all, that is what that separates entrepreneurs from employees.

Employees tend to associate active work = income, which isn’t wrong. It’s called active income, and the only issue with this is that it’s finite and linked to your time.

Work equals income, no work equals no income.

As an entrepreneur, I dissociate time from earning, and instead, I build systems where I can help both clients and employees / contractors (or technology), whilst making a profit in between. This allows me to scale my business and profits beyond my two hands and my personal energy.

I made the decision a long time ago to not get too upset about how unfair or rigged the system is, and instead, to learn, to adapt and use the very same system to my advantage without hurting anyone.

Side Hustle Ideas

If you’re not sure about what side businesses to start, and this is especially if your true calling isn’t clear, then you can consider being a

  1. Consultant — Being a consultant is suitable for people who love the work they do but not the company. So instead of reinventing the wheel, you take your expertise, experience and skills you already process into part time consulting gigs. I do this with my main physical therapy business. Companies are eager to work with you because you have hands on experience and you may like it cos it’s a low cost start up…maybe all you need is to turn up or work from home with a laptop.
  2. Sales Agent — There are some agency work such as being selling properties (realtor), insurance, watches and cars. There are many other stuff that one can sell, these four examples are pretty common. property or realty agents, or insurance agents and the like, where you can sell other people’s products and get a commission, some are big ticket some are recurring commissions.
  3. Multi-level marketing / Network Marketing — I dont recommend this to start off, but they do provide great sales training…BUT you must do your research. The products must be solid and have strong track record (be careful, many pyramid schemes out there) and commit to growing your business, your business will grow.
  4. Turn your interests and hobbies into cash — There are interests that are monetizable, such as photography, woodworking, heck even knitting! You can build a business in your own community and start off by helping neighbours and people you know. Over time, effort, you will get more word-of-mouth referrals…getting paid to do shit you like. An extension of this is to start an online business sharing tips and information about stuff you care about, from knitting to teaching dog tricks to teaching babies to poop in toilet bowls. Learn how you can build an online business here (affiliate link and free to create account)
  5. Sharing economy — Such as AirBNB (room/home-sharing); Grab/Uber/Lyft for to deliver passengers or food and even parcels.

What You Can Do With The Side Hustle Profits

As you earn more and more in your side hustle, you can consider investing a portion of profits into

  1. dividend paying stocks or rental properties
  2. hiring more employees / contractors to scale your business
  3. creating products to sell and service your clients
  4. quit your job, retire or work part time if you so desire
  5. take more holidays
  6. be more generous with your loved ones and friends
  7. and more

All in all, the most important thing about starting a side hustle…is to give yourself more life and financial options and opportunities in life, that you otherwise wont have if you’re stuck.

Choose to retire and get financially independent as early as you can for you to enjoy more of life

You got to choose to retire and financially independent as early as possible; to free yourself up to do shit you care about for as long as you can.

Today’s episode is a short and sweet one – my third kid baby Josh sits with me as I share about the rebranding and focus to Retire Early with Nigel.

Retiring early is directly linked to financial independence (that’s why there was / is a big FIRE movement a couple of years back; and frankly, that has been in the center of all I do since 27 years old (40 years old this year).

My message that drives me forward, day after day, since 27, is “to get money out of the way of my life so I can focus on shit that matters.”

Today, 13 years later, the message remains the same, and clearer than ever, amidst COVID-19, Russia-Ukraine war/conflict, work from home etc.

Life is really too short to work till 60 or 70+ then stop and then die.

Hell no.

I want (and will) retire by 45 while I’m still strong and active, to spend meaningful time with my wife and kids and pursue projects and stuff I care about.

NOT wait and mope around wondering where all the time went if I retire at 60s and 70s, no way.

Come, let’s get financially independent and be able to shit we want.

Boy and girls, ladies and gentlemen, I present to you: Retire Early with Nigel.

The three core pillars that I focus on that helps to achieve and maintain this are:

  1. Earning (more). I need to earn money which helps me to pay for daily living, and allows me to invest for passive portfolio income.
  2. Saving (more). Without the ability to save and optimize spending, however amount one earns will never be enough. Every dollar counts BUT i cant live like a miserly scrooge.
  3. Invest for passive income. This is third and final leg of the trinity of retiring early. The goal is to invest for enough passive income that our portfolio and investment passive income can sustain for our living expenses and more.

And then we’re free.

Crypto.com Cuts Crypto Earn Passive Income Rates

So it was a sudden and shocking update to me in the crypto.com subreddit where fellow users started to complain about the buried, unannounced new crypto.com crypto earn terms.

I searched around and found the update here: https://help.crypto.com/en/articles/2996965-crypto-earn-how-does-it-work

In a nutshell, a few big changes

  1. The changes affects everyone, regardless you’re a “whale” obsidian or a beginner.
  2. New terms:
    • New rates of few increases in % namely BTC, ETH, SOL, DOT, AVAX, MATIC.
    • Most of the damage is to stable coins where rate decreased from 12% pa to 10% pa.
    • Everyone’s maximum earn is decreased to first $30K will get full rates; anything above $30K is half rates (It is 2b that is the killing blow to stable coin staking.)

This in essence, is very shocking to higher-tier cardholders such as the Icy White / Rose Gold and the Obsidian, both of which previously had crypto earn limits of USD 1M and USD 2M respectively.

Of course people are upset, because the way it was done was unfortunately nonchalant and seems “a little hiding” because they were expecting backlash.

…though frankly I believe most of us who were with crypto.com from beginning knows its a business and will operate like one, but at leastconsider tier it up man, say use these earn tier limits

  • Obsidian $2M >> $1M
  • Icy White / Rose Gold $1M >> $500K
  • Royal Indigo / Jade Green $50K
  • Ruby Steel $30K
  • Midnight Blue $5K

Does this change anything?

Say CDC refuses to budge and change:

  1. I feel that this will cause a short term dip as people who are upset as well as those who needs the cashflow will either sell their CRO to stable coins and move it to other places that offer better yield. There are some out there, google search (others had mentioned)
  2. This affects crypto.com EARN but NOT stake. Staking for Icy and above still gets 12% pa for CRO card staking. So it’s possibly that some may double down on CRO staking (especially those who are bullish on CRO, cronos and crypto.com), leading to a more stable CRO network as a whole in the mid to short term
  3. Icy and above still gets additional 2% in CRO on top of the half eg 5% + 2%; so some may just eat the difference. Again, I prefer CDC to revise the limits instead according to different card tiers.
  4. It’s possible that new users get more love and CDC attracts more new users too…

On the other hand, if they decide to introduce a better and tiered reward system according to card level, I will be super grateful.

What will I be doing?

I am unlikely to hunt for yield in other platforms. I will likely

  1. Double down in CRO staking to maximize the 12% CRO stake returns (this strategy relies on CRO being stable and growing and/or
  2. Withdraw portion to fiat to pay in part for my home purchase and/or
  3. Continue to stake stable coins but also sell my weekly CRO stake returns to supplement my cashflow

Again, this is not financial advice – I am sharing with you the most recent crypto.com changes to their crypto earn, how it’s affecting my passive income cashflow, my take on how it could have been done better and what I am thinking of doing.

Thank you for watching Crypto com Cuts Crypto Earn Passive Income

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What keeps you going?

What are your burning passions that keeps you going?

  • Is it for the better future of your loved ones?
  • Is it to give back to the world and society?
  • Is it to prove someone else wrong? And prove yourself right?

Is there even a correct answer to this question?

Everyone’s reasons should be different and unique, though there may be some similarities when we compare as a group or from a broad based perspective.

The reasons may change as seasons in life change.

When I was younger in my tens and twenties, it was to survive.

Then in my 30s, it was to thrive and prove to myself and those that seem to look down on me.

Now, as I’m 40, it’s for my family and myself.

Deep down, I know my reasons are my kids, my loved ones, and I want to show my loved ones a better way of life. That it isn’t just about studying hard, getting a good job, working, buying shit we dont care about, then one day, we die.

Ugh, that’s depressing as heck to me.

I dont want that for me, my loved ones or for you – that’s not a good way.

A better way to a good life is to build a business we care about, ideally an online business that provides passive business income, that can work 24/7, providing good value to clients who love paying us, and yet at the same time, frees up our time to do stuff we love, and more.

A life where we have more control over the time and energy we put in.

Or where we work from.

And more.

Do you know what’s your burning reasons that keep you going?

When does passive income activity become non passive?

A man with his hands covered with mud

This is a great question, actually.

To me, passive income activities become non-passive when there is too much active time taken to generate and manage the activities that generate the passive income; or to manage the passive income itself.

I share much about two general types of passive income, which are:

  1. business passive income, where you build offline and/or online businesses, hire and delegate using processes, technology or people, to earn money for you even when you’re not working in the business (anymore or as much as before)
  2. investment passive income, where you invest your savings into dependable investment vehicles to work harder for you and make more money for you at a % return of investment (ROI)

Is investing passive?

Both aren’t exactly fully passive-passive, for example investment passive income.

Of course, even if you invested into index funds, dividend stocks and REITs, you will still have to

  • view your portfolio and adjust / rebalance your portfolio periodically
  • read and maybe respond to emails from your broker(s) and bankers
  • give instructions

Maybe almost-passive for those who do it that way; but you can also go the extreme end if you decide to read and research investment 12+ hours a day haha!

So if you’re the sort who wants to research a lot and spend more than 4++ hours a day on these activities, technically it’s already part time work.

But of course, if you like it a lot and it’s natural to you…does it count as well?

I leave that for you to decide.

Note: But to reach this level, you’d probably need a good chunk invested (to get $50K dividends a year on 5% ROI, you’d need at least $1M invested).

Good problem once you’re here if you ask me, heh.

Can businesses be truly passive?

For business passive incomes, it’s not as straightforward, because with business, many things can happen from a operational standpoint eg

  • accidents
  • health issues
  • absences
  • PR nightmare
  • vendor issues
  • product issues
  • etc

Anything can happen, anytime…and often without much warning.

Bloody good managers and stable business

If your offline business or online business is fairly stable and profitable, one of the best ways to make it as passive as possible, other than hiring and retaining good workers or freelancers, is to hire a bloody good manager.

Not a bloodthirsty mad bastard, but a bloody good manager.

A bloody good manager is a person that

  • that doesn’t thrive on creating drama/politics and making things go upside down
  • knows what the business needs and how to get it done in a consistent, sustainable basis
  • communicates clearly
  • fair, transparent and open

Yeah, it’s hard to find such good people, and normally I promote internally rather than bring in “external” managers to manage.

The “most” passive income stream?

40 year old me today believes that the close thing to passive passive income ie hands off as hands off can be is either of these 3:

  1. A well-oiled business with clear processes and management where the business has zero reliance on me, and still grows year on year.
  2. Continuously purchase index funds on a regular basis (where the dividends automatically gets banked into your bank account) (this can be for similar investment vehicles such as fixed deposits). This approach is good for most people.
  3. Trust with wealth management*. This is my ultimate end-funnel where all my investments and money go, and a set % portion is carved out for me and my loved ones to live on; and another % portion is to reinvestment to keep growing and counter inflation.

Baby Josh Chua is born 28th Feb 2022

I’m so excited and blessed to share that baby Josh is born on 28th Feb 2022 to myself and Louise in Gleneagles Singapore!

Thank you to my wife for carrying him to full term, and thanks to our super gynae Dr Arthur Tseng (who helped us with all 3 pregnancies and deliveries) and the supporting staff and nurses.

Baby Josh, welcome to the world – this world is a fascinating and beautiful place, filled with adventures, histories, cultures, learning, pain included, and most important of all, it’s made by God and fill with people whom God loves.

I cant wait to show you more of the world.