I allocate 80% of my savings into stable passive income cash paying assets such as dividend stocks, but I allocate 20% to higher risk higher return stuff.
Many of these high-risk-high-return stuff can be affordable to speculate / invest in
Crypto
I’ve been speculating into blockchain projects such as Bitcoin and Ethereum since 2017; and it can be very volatile. The nice thing about crypto is that you can buy in fractions.
For example, as of today, Ethereum is about USD $1,200 for an entire ETH, BUT you can own 0.01 of ETH at $12 as well, and slowly work your way up to buying more ETH over a period of time.
I use crypto.com app as my main crypto platform because it’s so convenient when it’s on my phone. It takes time to register and for them to do KYC (know your customer) process, so register there as soon as you can.
Stocks
I mentioned earlier that 80% of my savings are invested into passive income assets such as dividend stocks, and you can also purchase fractional stocks from your stock broker.
As I’m kinda lazy, I still use my traditional stock broker Lim & Tan =)
Domain names
This…is a painful area for me, because sometimes I want a specific domain name and someone has bought it and is squatting on it, and even trying to make me spend thousands of dollars for it. Do you know how much a domain name cost to buy?
If it’s from a standard registrar, you can buy one for about $10 bucks man…but a very popular wanted domain name, it can fetch a pretty penny.
How much?
crypto.com‘s $12M domain name purchase is an anomaly of course, but you can see how entrepreneurs and businesses can be willing to spend a good shiny penny on a good domain name.
Of course…you need to be good at picking potential buyable domain names, which can be hard. I use this platform to purchase my domain names.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
CoastFIRE and leanFIRE are very different in nature, and I’ll cover them separately, and then you decide which camp you fall under.
LeanFIRE
This financial independence retire early approach takes a “leaner” way of lifestyle to save enough money and retire as soon as possible. Mostly, you will choose to live very, very minimally and save/invest the rest, and your retirement will be more frugal overall. This gets you to retire earlier than most (late 20s or 30s) BUT you trade-off with a smaller investment portfolio due to less time involved.
LeanFIRE approach may mean that the passive income from your portfolio may not allow you lavish lifestyle (so no expensive cars / holidays / spendings) ie retire earlier frugal lifestyle.
The average number to calculate leanFIRE is to take your annual expenses and multiply that by 25.
So if your monthly spend is $3000, then annually you spend $3000 x 12 = $36,000. 25x of this will be $900,000. Assuming you
save and invest $1,000 a month into 6% returns per year stable assets
reinvest that 6% every year
You can reach your target $900,000 in 28.5 years.
This is a common strategy for people who are wired to retire earlier and/or have overall lower spending expenses than other households for example people who have no kids / single, senior citizens, living in tiny homes / vans etc.
LeanFIRE is generally about being willing to live simpler in retirement, and people who follow this approach usually try to live on less than $50,000 per year or lesser. They would be okay / willing to
move to a lower cost of living area
spend less on travel or experiences
cut back or simplify food and transport expenses
CoastFIRE
Financial independence, retiring early can be very tough for young people to save a large chunk of money upfront, especially when cost of living is higher now no matter where you go. LeanFIRE can take many, many years to achieve (even the example above is a good 28.5 years). CoastFIRE on the other hand, is another alternative.
The difference between coastFIRE and normal FIRE is that with normal, traditional fire, you have more than enough passive income from your passive income investments to cover your daily expenses. You’re “there”. CoastFIRE is more about the beginning or earlier journey of FIRE, and you focus on
Frontloading your coastFIRE number which will let you achieve FIRE in X years.
I gave an earlier coastFIRE example with Jake here.
The two top principles of coastFIRE are:
you will still need to work to cover the basic living expenses BUT
you no longer have to worry about saving money and investing for retirement
Because you frontload the coastFIRE investment amount as early as possible AND let compounded investment return work hard for you over a period of time (usually the time you choose to retire).
Example, say 25-year old Jane has saved $100,000 and wants to retire at 55. Assuming Jane doesn’t spend much, around $2,800 a month (total $33,600 per year) and Jane’s money grows at 6% per year, she will have $574,349.12 by 55. 6% of $574,349 is $34,460.94. Jane would have achieved her coastFIRE number at age 25.
If I’m 35 want coastFIRE and retire with $1 million at 65, and say I’ve $200,000 to invest. Assuming annual returns of 6%, with the 6% reinvested over 40 years, I would have achieved it
within 28 years, by then I’ll be 63 years old. 2 years early.
Thing about this coastFIRE approach is that I will still have to work to cover living expenses as my investment work its compounding over time, but I will be on point for retirement without needing to add any extra savings – this is what it means to
coast into retirement
Of course, knowing myself, I will want more buffer, so I will top up / add in additional monies over the years to grow the principle more, and this will lead to
shaving off the years to hit $1M but more importantly
I’d have a larger (and more defensive) amount above $1M for buffers
What I like about coastFIRE is that it takes a lot of mental stress away from the get-go, and I can choose to work simpler or less hours at my work, knowing and having confidence that I can retire at X amount and years which is working for me. This is the biggest benefit in my opinion. To add on to that, secondary benefits are less sacrifices upfront:
no longer have to be stressed by counting dollars for vacations or big spends or small spends
dont have to choosing higher yielding projects with a lot more stress or tolerate rubbish people at work
even if I lose my job, I can choose a simple low paying job to pay the daily expenses and I’ll “still be okay”
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
It’s true, this idea of financial independence, retire early can be such a big idea that we start to shut down cos we get overwhelmed right? Here’s how I do it.
I call it the eat-the-elephant-one-bite-a-time method.
The “normal” FIRE means that you have enough passive income from your passive income investments to cover all your living expenses, and it can take quite a chunk of money and time to get here; but for us who are just beginning, let me introduce you the idea of
CoastFIRE
Yeah, it was nice to find out that there’s different stages of financial independence retire early, which makes sense once you think about it. After all, no one “suddenly” becomes financially independent retire early right?
Lol, so true but I didnt think about it earlier?
So coastFIRE is basically an early stage milestone for financial independence retire early dudes (and dudettes). The goal at this point is so save very, very aggressively as early as possible so that you can invest aggressively such that the compound interest of your investment will carry you all the way towards retirement.
To break down coastFIRE is 3 steps:
is saving to investi as much as possible as early as possible
reinvest the compound interest over a period of time
to achieve financial independence / retirement at a particular time
CoastFIRE calculation example
Say an example of person A, let’s call him Jake. Jake is 24 this year, and he wants the usual:
passive income
retire early
He calculates and finds that he “just” needs $72,000 a year to retire. In today’s number’s that’s actually decent, around $6,000 per month to spend. Working backwards, assuming a standard 6% return per year, $72,000 / 6% = $1,200,000.00. That’s a big chunk of change, but he knows that he has time on his side, which takes off stress.
Two approaches to coastFIRE
CoastFIRE math
Save like mad and find $279,590 and put into a stable investment that will provide 6% return on investment; and reinvest every year for 25 years.
What I really really like about this approach is that it FRONTLOADS everything: once off $279,590 and let the interest keep compounding and growing by itself. Jake will save like mad and earn as much as he can, then frontload the entire $279,590 ONCE OFF and then just leave it be.
The amount will compound and keep compounding and after 25 years, Jake would 49, and he would have $1.2M in his account.
Every year, he can draw out from the 6% which translates to about $72K/year. If he can draw out less, then more can be compounded for the next year.
During this 25 years, he of course must work to sustain his day to day, but he can look forward for a pay day in 25 years time with confidence. This method frontloads a lot, but at the same time, offloads financial strain from the early stage.
Jake can keep adding to this amount in the meantime to either shave off years needed to hit the coastFIRE amount, or have more than enough at the end of the 25 years.
Risks or downsides to coastFIRE and how to manage
Risk of investment tanking. What if the % returns drop?
What if he loses his job?
Investor as the risk: what if he sells early due to something happening (medical, mental issue, fraud etc)
As you can see, coastFIRE is a very powerful long term stress reliever, but there are a few risk/weak points as I mention above. There are workarounds for these potential risks, as I write in orange.
Risk of investment tanking. What if the % returns drop? Jake should buffer at least 20% in the total invested amount AND instead of fully withdrawing 6% yearly, to instead only draw 3-4% to allow compounding to account for inflation, market downturns and growth. Only invest in very stable asset classes such as global ETFs or index funds
What if he loses his job? This isn’t the biggest issue in my opinion, especially after Jake has front loaded the entire coastFIRE amount needed to grow in X years. Even if he takes a basic job to survive or for less stress, the model will work.
Investor as the risk: what if he sells early due to something happening (medical, mental issue, fraud etc). This is very advanced and much more complex stuff, and I have thought about it, The only workaround for this from my current understanding is to create a trust and place the entire amount with specific instruction and conditions into it. The biggest risk of any investor is himself, and it’s the investor’s responsibility to not only protect his investment from others but also from screwing it up himself. It costs money to create and maintain a trust fund, which will need to be paid from the returns of the investment, so this will need to be computed as well.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
Is it really possible to make money without money? The short answer is:
A limited yes
Of course you can make money without money – the lowest hanging fruit is to start a side gig:
If you have a smart phone, you can download sharing economy gigs, where you can help pickup food orders or parcels and hand deliver to the recipient. Grab has this, Uber has this. This can be accelerated if you have transport such as bicycles, scooters, motorbikes, cars but those will incur other costs such as fuel, toll, parking etc.
Walk over to your neighbours in the neighbourhood and offer them services using their equipment (or your own) such as grass cutting, war washing/waxing, power washing, dog walking, kid sitting. These are things you can do in your neighbourhood.
There’s opportunities like these everywhere, and the key is this, you must be
Willing to do the work
If you dont want work and you want money to fall from the sky (which will be nice, I’d like that too), but you gotta do the work.
In the beginning, without money, you’ve got to put in the active hours, the sweat, the strains, the effort. It’s only when you have some money, then you can play a little more game or level up, be it to hire and manage employees, or invest into investments that can provide you passive income.
I recommend people to learn to start an online business
I use this platform to learn, host and manage all my online businesses. Not only is it very affordable at less than $1 a day, it
has a powerful leverage: it works 24 hours a day, 7 days a week for you
no ceiling cap of how much you can earn
a good skill that you can use to market your own businesses or sell other people’s stuff for a commission
this skill is transferable: you can teach your kids and even get paid to teach others
Downside is that it takes quite some time to build traction and traffic (about 18 months+) and it can be lonely, and that’s why I like the platform that I’m using – there’s a very active community that both keeps me accountable but also I can relate, complain to and share my joys with. This makes it a little more sustainable.
Sign up for free (there’s a forever free limited membership, no credit card required) and when you’re ready to take it to the next level, only then you commit. No upsells after.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
Someone asked in a group chat just the other day when I was sharing about passive income, retiring early and financial independence, and my immediate response in my head was: why not?
Why not have passive income? Why not be able to retire early?
I dont get tired of speaking about this at all, and I’ve been sharing and saying this for years now, since 2009. Passive income is still relevant today, perhaps even moreso than ever before.
Especially
during 2020 – 2022 during the COVID lockdowns and fears and lots of job losses and changes
2022’s Russian’s parasitic, invasive war of Ukraine
?future
Passive income isn’t complex. It’s a necessity of life.
With so many different case uses and benefits, because everyone’s preferences and needs are different right? Me, I will work less and spend more time with family and pursuing / doing projects that matter to me including more time in nigelchua.com and video making. Maybe hire personal trainers and nutritionists to improve my and family health.
For others it may be
retiring their partners or parents
spending time with sick or elderly parents
having (more) kids
being able to NOT put down their sick pets
travel the world
maybe move to another part of the world (vanlife, anyone?)
volunteer
finally have the mental bandwidth to meet people, date and maybe even marry
focus on your first love, be it acting, drawing, writing, baking – whatever
There’s so many more examples of what one can do with passive income and retiring earlier.
Surely there’s downsides to passive income?
Of course there’s some downsides, such as
maybe you’d start to have people sticking to you cos you have money (and they want money from you)
maybe you’d get bored
maybe…traveling and the beach was boring after all
Who knows? You then have the luxury of time to explore and find out what you dislike, what you like and want more of, which is still a net positive in my books.
And that what keeps me going and sharing this message again and again to those who will hear.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
Low barrier for entry: doesnt require you to buy equipment that costs more than $1K
No special skill: doesnt require you to study years for a license, the skill needs to be learnable in hours
Recurring: something that the clients will need on a recurring basis, 1/2/3/4x per month
Scalable: not hard to hire someone to train and do the job
Today’s idea: home cleaning
Low barrier for entry: clients who pay for home washing usually ALREADY have the equipments in their own home, be it mops, brooms, etc available. You may bring your own and charge them extra too, such as mop, broom, floor wash etc
No special skill: You DONT need to train or study years to learn how to clean a home – start with your own home, and a couple of your pal’s places.
Recurring: 100% recurring business, possibly even 1/2/3/4/more times per month, depending on how clean they want their places to be
Scalable: It’s definitely easy to hire and train technicians to clean homes for your clients; plus there’s lots of people would be happy to work for you as employees as you deal with growing the business and acquiring more clients. Bonus: there’s a lot more things you can do: ironing, compound eg power washing, grass cutting, commercial properties, moving in/out cleaning, pre-festival cleaning etc
Warning: as homes are very “open concept”, there’s always risks of misunderstandings such as you could have spent 2 hours making their toilets clean but they’d rather you clean their hall — so sharp communication is key.
How to get your first 3 house cleaning client?
This is the key to get your business started, and you can definitely just start off on weekends to keep your day job. Some ways you can start getting clients and leads:
Look at your neighbourhood, and start there. Knock on your neighbourhood doors and tell them directly: “Hey it’s me, my name is ____ and I live in this neighbourhood. I am starting a home cleaning business and my rate is $X. Would you be happy for me to do that for your home / room / office this week?”
You can offer a bundle discount for more hours.
Message a bunch of your closest buddies and ask them to refer someone, something like this: “hey, I’ve started a home cleaning business and I’m looking for clients who wants to go back to clean homes, can you please refer a neighbour who’d love that? Sweeten this deal by offering a special deal to them for example: refer x number of clients and I’ll clean your room/home for free this month.
Do the same on social media.
Location bundle, if you already have a client scheduled for a date, reach out to the neighbours in the area and let them know that you have a client appointment on that date/time, and if anyone would want a session, then you’d be happy to do a bundle discount since you’re already in the area.
There’s more ways to grow your side hustle too, but start with these.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
Low barrier for entry: doesnt require you to buy equipment that costs more than $1K
No special skill: doesnt require you to study years for a license, the skill needs to be learnable in hours
Recurring: something that the clients will need on a recurring basis, 1/2/3/4x per month
Scalable: not hard to hire someone to train and do the job
Today’s idea: car washing & waxing
Low barrier for entry: car washing needs very little items – at least 1-2 pails, water, car wash detergent that costs less than $20, and cloth (or rags). Level up your services with car waxing and vacuuming the interior. Combined, they would cost less than $300, and you can provide THREE services this weekend.
No special skill: You DONT need to train or study years to learn how to wash, wax and vacuum a car. Clean your own and some friends’ cars, and you’ve experienced.
Recurring: 100% recurring business, possibly even 1/2/3/4 times per month, depending on how muddy the grounds were and how sparkly and clean they want their cars.
Scalable: It’s definitely easy to hire and train technicians to wash, wax and vacuum cars for your clients; yes, lots of people would be happy to work for you as employees as you deal with growing the business and acquiring more clients. Bonus: there’s a lot more things you can do: motorbikes, vespa, vans, trucks, RV – so many possibilities!
How to get your first 3 car wash, wax and vacuum client?
This is the key to get your business started, and you can definitely just start off on weekends to keep your day job. Some ways you can start getting clients and leads:
Look at your neighbourhood, and start there. Knock on your neighbourhood doors and tell them directly: “Hey it’s me, my name is ____ and I live in this neighbourhood. I am starting a car wash, wax and vacuuming business and my rate is $X. Would you be happy for me to do that for your car this week?” You can offer a bundle of 3 services for discount.
Message a bunch of your closest buddies and ask them to refer someone, something like this: “hey, I’ve started a car wash/wax/vacuum business and I’m looking for clients who wants sparkly and clean cars, can you please refer a neighbour who’d love that? Sweeten this deal by offering a special deal to them for example: refer x number of clients and I’ll wash/wax/vacuum your car for free this month.
Do the same on social media.
Location bundle, if you already have a client scheduled for a date, reach out to the neighbours in the area and let them know that you have a client appointment on that date/time, and if anyone would want a session, then you’d be happy to do a bundle discount since you’re already in the area.
There’s more ways to grow your side hustle too, but start with these.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
Low barrier for entry: doesnt require you to buy equipment that costs more than $1K
No special skill: doesnt require you to study years for a license, the skill needs to be learnable in hours
Recurring: something that the clients will need on a recurring basis, 1/2/3/4x per month
Scalable: not hard to hire someone to train and do the job
Today’s idea: power washing
Low barrier for entry: this corded power washer costs less than 2 nice dinners and you’re in business baby (we’re talking less than $200 bucks) which you can make back in at least 2 power washing driveways jobs.
No special skill: power washing is also one that DEFINITELY don’t require a license or years of training – start by power washing your own porch and driveway, and a couple of friends to get the hang of it, and you’re good to go already.
Recurring: This is definitely a recurring business, porches and driveways get dirty again and again, probably need around 1-2 power washes a month.
Scalable: It’s definitely easy to hire and train technicians to power wash for your clients; yes, people would be happy to work for you as employees as you deal with growing the business and acquiring more clients. Bonus: there’s a lot more things power washing can do, such as washing walls, carpets, cars etc.
How to get your first 3 power washing client?
This is the key to get your business started, and you can definitely just start off on weekends to keep your day job. Some ways you can start getting clients and leads:
Message a bunch of your closest buddies and ask them to refer someone, something like this: “hey, I’ve started a power washing business and I’m looking for clients who wants clean driveways and porches, can you please refer a neighbour who’d love that? Sweeten this deal by offering a special deal to them for example: refer x number of clients and I’ll power wash your driveway for free this month.
Do the same on social media.
Knock on your neighbourhood doors and tell them directly: “Hey it’s me, my name is ____ and I live in this neighbourhood. I am starting a power washing business and my rate is $X. Would you be happy for me to power wash your driveway/porch/wall/etc this month?” You can offer to power wash a segment of their porch to show them a beautiful before-after.
Initial your business name on the ground as a signature, with approval from your client (you can offer them a discount for this)
Location bundle, if you already have a client scheduled for a date, reach out to the neighbours in the area and let them know that you have a power washing client appointment on that date/time, and if anyone would want a session, then you’d be happy to do a bundle discount since you’re already in the area.
There’s more ways to grow your side hustle too, but start with these.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
Low barrier for entry: doesnt require you to buy equipment that costs more than $1K
No special skill: doesnt require you to study years for a license, the skill needs to be learnable in hours
Recurring: something that the clients will need on a recurring basis, 1/2/3/4x per month
Scalable: not hard to hire someone to train and do the job
Today’s idea: grass cutting
Low barrier for entry: this cordless grass cutter costs less than a fancy dinner; and this cordless lawn mower costs less than two fancy dinners. Put them in your car and you’re good to go.
No special skill: grass cutting and lawn mowing DEFINITELY don’t require a license or years of training – start by cutting your own and maybe a couple of your friend’s lawns to get the basic skills of handling, and you’re good to go.
Recurring: Grass and weed will grow again and again, which means that it’d need to be cut again and again, which ka-ching, means that you can earn money again and again.
Scalable: It’s definitely easier to hire and train technicians to cut and mow grass for your clients; yes, people would be happy to work for you as employees as you deal with growing the business and acquiring more clients, but we’re jumping the gun here.
How to get your first 3 grass cutting client?
This is the key to get your business started, and you can definitely just start off on weekends to keep your day job. Some ways you can start getting clients and leads:
Message a bunch of your closest buddies and ask them to refer someone, something like this: “hey, I’ve started a lawn mowing / grass cutting business and I’m looking for clients who wants nicely trimmed lawns, can you please refer a neighbour who’s too busy to cut their own grass? Sweeten this deal by offering a special deal to them for example: refer x number of clients and I’ll cut your lawn for free this month.
Do the same on social media.
Knock on your neighbourhood doors and tell them directly: “Hey it’s me, my name is ____ and I live in this neighbourhood. I am starting a grass cutting / lawn mowing business and my rate is $X. Would you be happy for me to cut your grass this month?” Sweeten this deal by offering a “free trial today” by giving 1 free full lawn mowing / grass cutting and pay for 2nd one onwards.
Location bundle, if you already have a client scheduled for a date, reach out to the neighbours in the area and let them know that you have a grass cutting appointment on that date/time, and if anyone would want a session, then you’d be happy to do a bundle discount since you’re already in the area.
There’s more ways to grow your side hustle too, but start with these.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
I dont believe in eating all my yearly profits and income. That’s like the apple farmer selling every single apple tree – it’d make more sense to sell the apples for money, and take the seeds of the best 20% of apples to plant better and better apple trees.
Right?
In the same vein, I take every dollar that I save from my businesses and investments as an employee, and as my employee, I have just one job for them: to work harder and harder for me to produce more money.
That $1 needs to either earn
$0.05
$0.15
or double to $1
every, single year, year in, year out.
Let’s relook at that again.
$1 making $0.05 = 5% returns
$1 making $0.15 = 15% returns
$1 doubling to $2 = 100% returns
At scale, say for example $100,000
5% returns is $5,000 + original $100,000
15% returns is $15,000 + original $100,000
100% return is $100,000 + original $100,000
And I hadnt even touched on reinvesting the returns, which will make my mind go blurry mad with excitement.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Thank you so much for your time and I hope it’s helpful for you.
