In full disclosure, I speculate and own $tipsycoin, which is a blockchain NFT gaming project that started from my home base in Singapore. I’ve met the founder too, so it’s not a project whom I do not know the founder / team, that’d make the project a little closer to my heart.
Dont get me wrong, blockchain projects are still risky and speculative, so it may go belly up….BUT I’m holding onto my $tipsycoins and let it run to as high as possible.
This project is a low cap token project that I’m betting on.
The original project started using minecraft, but now they’re working on a larger world project, called Gates of Abyss, which is a location based RPG game. Kinda like pokemon and a couple of other games I had played before, and it’s both nice and interesting, because it’s geographical and communal.
Stake for $gin
If you have bought sufficient $tipsycoins, you can also stake them for $gin dollars, which is used in the Gates of Abyss games to buy equipment, upgrade stuff…and get this: you can use it to also cash out to real world dollars and trade them for cryptocurrency, which is nice to have.
Key for success
The key for them to work, revolves around one key point: stickiness, replayability and community; which in one word, is about having players come on board, stick around and play again and again. If they can do that, then the project would have higher chance of success.
Check their price here on coingecko. Their current price is $0.00004655, and even if they 500x, that’s “only” $0.023275 for one $tipsycoin. Quite modest to only need to aim for 2.3c for 500x.
Some nice tokenomics:
max supply of 100 billion $tipsycpons, and no more will ever be created
sell-only tax of 10%, of which 4% goes back to existing holders, 4% buyback for the tipsyvault and 2% to fund the project (ie free passive tokens for you whenever someone sells)
limited buy-sell transaction of max 500 million per transaction, to prevent whales from eating up all the supply
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 learnt the concept of cashflow from Robert Kiyosaki’s rich dad poor dad, and since 2003, I’d learnt again and again how important cashflow truly is. I try as best as possible to create streams and streams of positive cash flow into my bank accounts.
Like the example I gave earlier, on smart money tactics, I immediately split money into different baskets with specific functions. An example if my income is $5000/month, I will take out 20%, which is $1000/month to be put into assets that will pay me regularly be it
dividend stocks
rental properties
REITs
etc
This will be an every-month-process, and I’ll do this month-in-month out. Let me extrapolate on the example above.
Year 01: Every month $1000 x 12 months = $12K. At 5% ROI, my dividend would be $600
Year 02: Every month $1000 x 12 months = $12K + $12K. At 5% ROI, my dividend would be $1200
Year 03: Every month $1000 x 12 months = $12K + $24K. At 5% ROI, my dividend would be $1800
Year 04: Every month $1000 x 12 months = $12K + $36K. At 5% ROI, my dividend would be $2400
Year 05: Every month $1000 x 12 months = $12K + $48K. At 5% ROI, my dividend would be $3000
Year 10: Every month $1000 x 12 months = $12K + $108K. At 5% ROI, my dividend would be $6000
Year 20: Every month $1000 x 12 months = $12K + $228K. At 5% ROI, my dividend would be $12000
Year 30: Every month $1000 x 12 months = $12K + $348K. At 5% ROI, my dividend would be $18000
etc
And I hadnt even calculated if I
increased the amount I put in every month as my pay goes up / business grows
invested bonuses
reinvest the dividends
The name of the game is to keep investing into cashflowing assets again and again.
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 stumbled upon Robert Kiyosaki’s Rich Dad Poor Dad book in my 2nd year of my occupational therapy diploma studies, when I was in Ratna’s place doing group work or some assignment. Somehow, I just saw it and it stood out to me. Without thinking, I immediately blurted out to her if I could borrow it from her, and she graciously said okay.
That was the beginning of a money change in my life.
You see, I grew up in a poor to middle class family, and I dont tire of telling this story. I have very loving parents and siblings, and we love each other. But I remember growing up seeing my parents fight over money, there was so much money stresses and strain. My dad would loan money to pay for stuff, but we manage by. There was not much money talks, so watching them was sort of front-row seats of my learning.
In school, I realized I too started borrowing money from my friends whenever the month-end was too far away, and that happened almost every month (thanks Pei Fen and Julia) for helping me all those years. I was embarrassed to have done that, but I realized it’s something
Monkey see monkey do
Rich dad’s #1 lesson that changed my life
It’s just “an” idea, that assets put money into my pocket or bank account. So, the natural conclusion is that I need more and more assets to put in more and more money into my pockets. The simplicity worked for my simple brain, especially when financial intelligence was a new concept to me.
Robert then expanded that point, on how he went into entrepreneurship because he’s not super smart to become a doctor (I could relate to that), and not talented enough to become a highly paid actor or entertainer (well…dang, me too). So it’s entrepreneurship for me too, which led me to start my entrepreneurship journey.
First, as a freelancer, then as an agency owner, then a clinic, then a clinic chain.
This allowed me to
Earn more
Earning more has always been helpful.
It’s a stark difference of earning $2000/month (and taking home $1700+) as opposed to my first month as freelancer where I took home $4800. I will NEVER forget that feeling of amazement, disbelief, and this sense of hope. I knew that if I could do it once, I can do it again and again.
Then I leveled up, instead of just earning $5K/month freelancing as a freelance therapist, what happened if we opened our own clinic? We didnt have the skills or knowhow, but we were willing to learn, and then we started earning $10-20K+/month, with a clinic. Then multiplied again when we had people joining us. Then multiplied again when we have 2, 3…and more clinics.
Investing
Robert was (still is) very big into
real estate
teaching and intellectual property books / boardgames
precious metals such as silver and gold
and more recently, cryptocurrency
He taught me broadly about the idea of investing, and after we started earning more, we started to look at what and how we can do more when it comes to investing and working our hard earned monies even harder. This is a skill that I’m improving and honing everyday, on top of running and growing my businesses.
I’ve since gone for other courses and books and courses, but I wont forget this very first book. I still pick it up once in a while, and it’s a great gift to give.
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.
Over last week (week of 10th November 2022), there was a series of twitter spat between Binance’s founder CZ and FTX’s founder Sam Bankman-Fried (SBF), and then there was a strong signal by CZ saying they’re gonna sell off all the FTT tokens they have to derisk. FTX offered to buy those tokens over-the-counter (OTC), but Binance declined.
Market panicked
The market panicked, and FTT holders rushed to sell their tokens. During this time, SBF tweeted that “a competitor trying to attack them, and that FTX and their assets are fine”…and a few days later, withdrawals halted and it spiraled into liquidation after a short 1-day of Binance doing due diligence to potentially buy them out, but when that failed, FTX applied for bankruptcy protection.
Truth to be told, I also almost bought into their tokens when it was around $30s-40s range, but somehow that didnt happen.
SBF was in Bahamas.
That event was intense, and caused the entire crypto market to have diarrhea, all was sea of red, because, I think, that FTX is the golden poster boy of crypto-financial institutions, with lots of investments from big boys such as Sequioa and Temasek even. For FTX to fall, it was a big thing, shocking.
But let’s not be naive.
FTX wrong moves
From what I read and understand, FTX did some less-than-optimal moves, such as
taking a loan on their FTT tokens (collateralizing tokens, risk of margin calls if token drop in price)
loaned FTX and company funds to Almeda to trade (risk of trading losses)
fractal practice: had 900M in assets but loans of more than $9B
It was a disaster waiting to happen, and boy, did that disaster sweep FTX and the crypto world. In just a series of days, FTX is bankrupt and undergoing liquidation, SBF tried to flee to Dubai but was apprehended, “hacks” of ftx website causing money to disappear, and sudden printing of more FTT tokens that was sent to centralized exchanges.
That was popcorn-level-fascinating but wrong on so many levels. So many people lost their hard earned money, savings and investments, but it’s not good at all.
Where is the accountability?
Where is the moral high ground?
Where and how can the people trust crypto more and more?
Where is good leadership?
It’s no wonder CDC’s CEO kept saying that this event has hurt the user’s confidence of crypto, and that everyone has to play a role to win that trust back. This isn’t right, and yes, I’m not naive – these kind of games happen all the time in corporate board rooms, and even I’ve seen a couple of such circus clowns with my own eyes.
The good thing from this?
Expose and removal of bad actors from the system. Call it a purge, but let those that should be purged out, be purged out, and decrease the contagion. There is so much potential in blockchain and crypto space.
Focus on important things such as building important and good useful products and projects that the marketplace and people want
Happened during a bear market, so there’s less damage potentially as compared to height and euphoria of bull market
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.
Crypto.com’s CEO Kris Marszalek had a AMA (ask me anything) session today, November 14th, 2022, to address and kill all those unsubstantiated fears around crypto.com’s solvency, bank run, users etc.
Will crypto.com fall like FTX’s recent bankruptcy?
CDC very different from FTX: CDC is provides a service of bringing crypto to retail and get paid for that service (50 basis points). FTX is linked on a sister trading company so there is trading risks invovled.
Proof of reserve
Proof of reserve is being worked on with audit, it takes time due to the scale. Kris wants to have it faster as well, but it just takes time. It is a very positive development where exchanges are working to show their proof of assets, and push that this will be part of regulatory / law, because not every company does or practice this.
20% reserves in SHIB?
Friday CDC released cold wallet addresses, 20% in SHIB. Kris: it’s 1-to-1 reserve, and last year (2021), there was a demand of SHIB and Doge, so lots of people bought and didnt sell. It’s a reflection of client’s funds, not CDC’s funds.
Did CDC stop withdrawals?
Not true, it’s business as usual but there’s heightened levels of activities, be it withdrawals or deposits. Withdrawals are working and will always be working – this is absolutely fundamental. Go to status.crypto.com and you can see if withdrawal is working or not. 3 coins are hold for now, GALA, FTX and RAY. The ones related to FTX will be removed for now.
Influencers on Twitter are saying that CDC is in financial trouble.
These people have been around, and we’ll just do business as usual. It’s not quite right (it’s bad) baseless allegations. CDC has 1-to-1 reserves and have healthy balance sheet.
CDC have exposure to LUNA?
Zero exposure to Luna because CDC is conservative. CDC does NOT lend to third parties, which is what tends to lead to falls such as BlockFi and Celsius. No exposure to UST as well because when we looked at it, we’re concerned that it’s not sustainable and we’d rather be conservative.
$1B sent to FTX?
This was done over a year and most were recovered. FTX were our liquidity partner which coins CDC do not carry, and it’s mainly done as a brokerage. Eg when clients buy crypto on our app, we have a few buyer we can buy from, we choose the lowest cost so that we can pass the savings to the customer. (Nigel: This means we dont carry stock – very lean of doing business)
Explain hedging.
Kris: strategicly, CDC continues to grow and increase liquidity to decrease reliance on other places / third party. CDC tries to get best possible price and liquidity. CDC app and exchange
Does CDC lend funds externally and use CRO as collateral? Like FTX did with FTT token
No, this will never be done. We burnt 70% of our tokens, and we do a simple business of introducing digital assets and cryptocurrency to retail investors and CDC focus on that.
CDC has more assets than liabilities?
This is partial information, every other exchange released assets first, using Nansen, as that was fastest. Whenever you need to bring in external companies, that will take more time. 1-to-1 reserve coverage will show when the audited report comes up. Tremendously robust balance sheet: never needed to raise funds then and in future, which helps with fluctuations.
CDC supports DeFi as its “true crypto ethos”.
It’s basic human right; CDC invested a lot to build the DeFi crypto wallet. There’s more than 400 projects building on cronos ecosystem and they will continue to develop and give back to the crypto system. Will be as open-sourced and transparent as much as possible, which shows their commitment to crypto/blockchain.
How does CDC Earn program generate yields?
It’s a rewards program to reward users, and we do not consider lending yields to make it juicier. This is very important, as once it hits a certain size, we had to cut back the rewards. No one was happy about it, but CDC had to act responsibly, to have a positive cashflow business. This is how we view risk and manage platforms.
How CDC afford marketing with this revenue?
UFC, stadium renaming, world cup sponsorship. Our deals are 10 years, 20 years deal, and we pay a small portion of this long term commitment every year. This is part of our commitment to build a sustainable business. It costs us 10% of our revenue per year. It looks big when you look at a 10-20 years, but when you break it down to a yearly investment, it’s good. It wouldnt be possible for CDC to grow without investing into brand awareness, which also helps to bring awareness to this industry not just for ourselves.
What’s your expectations about future and where do you see CDC in 5 years?
Everyone has to think about how to restore trust in crypto. It will need everyone’s input – everyone has to continue to be a trusted player, fully transparent so we can provide a place that is stable and secure for CDC’s users.
If you extrapolate to 5 years, I think the industry will comeback stronger than ever though it’s painful now, from the removal of bad actors from the industry. I want everyone to understand that restoring the faith in this space will take time and effort.
Bear markets are good for one thing: really building. There is no hype, you can build stuff that clients want, you can have better market fit – these are great atmosphere for creating breakthrough products especially in the next cycle of adoption. I think its going to be fine, I remain positive for the future. If you think about the possibility, we’ve barely scraped the surface.
I want to see a social network that’d come out of this, to be able to manage 1B users. Keep the faith, stay strong. People who were here in the depth of winter in 2018, 2019 – if you want to have outcomes, you need to have commitment and conviction especially in this place.
Will you improve rewards?
We’d love to give it back, but it needs to balance the revenues from the core business. We can have better rewards when the market improves. As long as it makes sense from a sustainability perspective.
What happened with the $400M moved incorrectly?
Every single address that the system allows for transactions are whitelisted and approved, it cannot be simply sent to places where we cannot get the funds back from – no, we could because it’s was possible. At no time, the funds was at risk to be sent someplace where we cannot get it back.
We build the system such that to eliminate risks, and after such an incident, we’ve further improved the system to prevent. It happened more than 3 weeks ago – it’s got nothing to do with gate’s proof of reserves or FTX. We’re improving and fixing stuff every single day. The system wont allow us to send funds someplace we cant get back
Will we see CDC at world cup 2022?
Of course. There’s gonna be at least 5 billion people watching the game. It serves to raise of awareness, and maybe it can help tiny bit with issue of trust. I’m looking forward to it. I think it’d be a great tournament, and I hope that it’d help us relax a little and not worry about the collapse. I hope you all have a good time, and we have something in store that we will announce to you later.
Closing
Thank you community for your support, I see you backing us up on Twitter and social networks where others are throwing baseless allegations and speculate. It’s good to know this community is tight and understands how we operate. I’m thankful that the community can see how we work, I appreciate it. Remember, ignore what they say and see what they do. Compare and see what they do, see how CDC leads the way with regulations and transparency, and then make up your own mind based on what you see, especially dont just listen to baseless allegations. Our focus will remain to focus on compliance, make it safer for everyone. We all learnt a big unexpected lesson from the collapse on FTX. You can count on crypto.com to lead the way and prove the naysayers wrong, thank you all for joining.
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.
You’d have a regular income be it from employment and/or entrepreneurship. It’s an ongoing thing, which you can split into
spending (essentials and luxuries)
investing
You’d be looking to keep increasing your monthly take home and bonuses by increasing your skills, experience and responsibilities over a period of time.
Always trying to increase the amounts saved and for investing every month.
You’d try to squeeze out as much into savings and investments which you can then use for mid and long term investing
Prioritize safe investing approach
80%+ into conservative and “safe-ish” investments such as
broad based index funds
rental properties
public listed dividend stocks
Conservative and safer investments usually brings about conservative and safe-ish returns, between 5-10%. Which is pretty decent, and I gear it this way because the bulk of my hard earned money shouldnt be gambled – it’s meant to work like a machine, day-in-day-out to increase its returns and value to me.
20% into higher risk, higher return
growth / tech stocks such as Apple, Google, Alibaba, Netflix, Facebook (Meta), SEA etc
cryptocurrency such as Bitcoin, Ethereum, Cronos, and so many other blockchain projects
some % into low caps
Growth / tech stocks and cryptocurrency / blockchain projects are pretty similar: they do very well in bull markets with lots of money, but conversely, they can get punished and pummelled badly in bear and down markets. Same goes for low cap which is the highest risk of them all, but with the highest potential returns too.
The goal is a balance trinity flowchart of getting richer by
constant earning more
constant saving more
constantly investing and reinvesting more into conservative and higher return investments
Rinse and repeat until you reach your desired amounts, and even then, dont stop – keep going.
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 me, how to invest safely into the stock market?
I find that easiest (and probably the safest) way of investing into stock market is by keeping it really simple, so:
broad-based index funds
dollar-cost-average over time
time in the market
Broad-based index funds
These type of index funds are good because they tend to have very little asset management fees (1); and over time, market grows as a whole (2). So by investing into the entire market keeps you well diversified and little management fees doesnt erode the returns you get.
One thing you’d see in most AUM (assets under management) investment companies are that they take / skim off 1-2%+ of all returns, be it good or bad market. So in a good market, if you get an 8% return, they’re taking up to 25% on your returns. In a bad market, if you already lose 13%, they’re gonna take an additional 2% from your portfolio.
Broad-based index funds takes away these expenses and keep you invested into the market as a whole.
Dollar-cost-average over time
Also known as “DCA”, this is one of the best ways to invest:
carve a % budget of your income that goes directly into investment(s) of your choice on a monthly basis
Doesn’t matter if it’s higher price or lower price, by doing this over a period of time, you’d get an average aggregate price which will likely be much better than trying to get a lump sum and entering the market.
Time in the market
This is a continuation of dollar-cost-averaging, and time in the market (invested) is always more powerful than trying to time the market (be it investing or cashing out), because it removes the overthinking and other investor psychology that can mess around with your investing approach.
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.
you will need a very small token ETH for gas (the minting is otherwise free still)
Xen crypto which aims to empower individuals.
Some quick notes:
No pre-mint
No Admin Keys
Immutable Contract
No listings on CEXs (I think this doesnt apply anymore, as they’re listed on some centralized exchanges for secondary market)
Starts with zero supply 100%
Transparent and on chain
Jack Levin
Jack Levin (born in 1974, St. Petersburg, Russia) emigrated with his family to the United States in 1990, where he studied computer science at the University of Missouri. He played a key role in building an early Google infrastructure, and he’s known in the tech industry as a serial entrepreneur who built a series of startups and as an angel investor. He got interested in Bitcoin in 2010 and remains in the crypto space to this day. After a string of successes, he recently came up with something special that has the power to change the world. Levin is creating XEN, a global currency for the people.
Google #21 – Levin’s interest in technology started at the age of 16 when he got his first computer and learned by downloading and reading documents from Usenet groups. He became an expert-level Web 1.0 developer, server system architect, network designer, and Linux master and moved to Silicon Valley, where he was doing security for offices and early Internet on-ramp companies. After creating the first open source embedded computer running Linux with a firewall and a VPN, he met Google’s founders, Sergey Brin and Larry Page, in 1999, and he got a job as their 21st early employee.
Taken from: https://www.xencrypto.io/whos-jack-levin/, go to the link to read more about Jack. There’s a lot to read and unpack.
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.
Celsius not only bites the dust (they’re bankrupt and insolvent now, which means they’re being liquidated and closing shop).
A couple of days back in Oc 2022, they filed a 15,000 page report with ALL the names of their clients and crypto withdrawal addresses…and what this means to you is that if you had EVER put any coins on celsius at all, even 1 USDC, your details is there in that report.
ie you’ve been doxxed
What does doxxed mean?
Doxxed means that you’re visible on the blockchain network, to those who knows how to find you.
Reason being any crypto or digital wallets that can be linked to your name by finding out which addresses paid or received X amount of tokens to/from celsius…ie people who want to find you and who knows how to, they can.
Do you need to worry?
99% of the time, no.
It’s a problem only if you’re
a criminal,
a tax evader or
a political activist being prosecuted in your country
#1 and #2 means it’s already wrong doing involved…so…if that’s you, stop it as much as possible. There are many ways to earn money and to have fun.
What should you do about celsius’ doxxing?
You can care less and ignore, or, you can consider preserving your privacy by looking for a place that dont do KYC. This will keep your info safe from prying eyes.
Special note:
This document also revealed that Mashinsky and his wife withdrew $12M when they said they didnt.
This means that there seems to be some inside job or inside knowledge, pre-celsius shutting down. Definitely not a good thing in my opinion, and I’m sorry for the victims who got caught up in this. Hang on in there.
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.
Especially if you’re diversifying your income sources as well as monetizing your spare time instead of wasting it.
#1 Low hanging fruits: App-based services
Think of app-based services such as:
Food delivery: DoorDash, UberEats, GrabFood
People transport: Uber, Lyft, Grab
Parcel/item delivery: uparcel, LalaMove
and a lot more other similar businesses.
The good:
You can plug into the gig economy quickly and easily, simply by downloading the app(s) and applying to be a service provider.
Once they have approved your application, you can start work almost immediately (usually less than 7-14 days wait) and earn extra money daily
You can work around your schedule
Get paid quickly
The bad:
small-ish amounts
#2 Website + affiliate marketing (my fav)
This is by far my favorite.
The good:
you own your own website, which is similar to an online magazine that belongs to you (and no one can take it away from you – it’s your asset that you can grow or even sell or even give to your kids if you want to)
no income ceiling – you can earn a lot (there are bloggers earning $10K+ a month and more)
you can be as creative as you want
you can sell anything…as long as there is market
scalable with technology
24/7
work from anywhere
The bad:
it takes time – at least 18-24+ months to see your first dollar
high learning curve (tech can be overwhelming in the beginning)
sometimes you can get hacked
It’s one of the hardest type of businesses to build, but it’s worth it when it works.
I learn how to build a profitable online business with Wealthy Affiliate (affiliate link). Sign up for free and no credit card needed – test it, speak to the community there, and then if, and only if, you’re ready to commit to building profitable online business, sign up.
#3 Buy low sell high
This is one of the fastest way to make money, but you need to be in the know. It’s one of the oldest form of business, where you buy (or make things) and sell it for a profit.
Some ideas of things you can sell includes baby wearing wraps and carriers, carpets, furniture, food and drinks (think bakes) as well as collectibles like NFT and pokemon cards.
The good:
it works
can be fun
The bad:
carrying inventory can be stressful or complex (if it can rot/spoil, like food)
you will also need to be active in your community, such as FaceBook groups, craigslist, flea markets etc.
#4 Convenient to-you services
This will be my 2nd favorite way to earn more, which is to provide convenient home services.
It can be massage, physical therapy, physical training, nail works, plumbing, electrical, handyman, pet sitting/walking, grass cutting, house sitting etc
The good:
people will pay for convenience AND
people will pay when they dont know how to do it
The bad:
its a service, so you need to show up and do the work
you need to collect money
Earn more so that you can invest in investments that can pay you interests and dividends, or to go for holidays and dinners. Your money, your choice.
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.
