FTX Exchange BANKRUPT (what happened?)

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?

  1. 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.
  2. Focus on important things such as building important and good useful products and projects that the marketplace and people want
  3. Happened during a bear market, so there’s less damage potentially as compared to height and euphoria of bull market

Crypto.com’s CEO addresses FUD on their platform, finances and token

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.


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.

Why Warren Buffett is buying stocks RIGHT NOW

The answer is simple:

It’s because many good companies stocks are discounted now

His favorite saying is

buy good companies at fair price

And right now, in the midst of Russia’s invasion of Ukraine that’s making a storm in the world’s politics, not to mention weaponry and even grains, it’s causing power uncertainties which trickle into the entire world.

People get scared and fearful, and they start selling their investments at discount and even companies’ businesses can be affected as well, so this causes share prices of good companies to tumble (even if the companies are doing okay).

The trick: good research + discount + long term hodl

In 1974, Warren’s company bought Washington Post shares at a deep discount during the financial crisis then. Without even factoring dividends, the purchase had returned more than 400X when it was acquired by Amazon for a sweet $250M.

There were 3 reasons why it worked:

  • Warren did his research: he knew the company is good
  • Discounted price
  • He wasnt looking for a quick flip – he would have made money too, but the fat stacks came with market recovery and growth of the business and market as a whole over a period of time

What does this mean for you?

We dont have as deep pockets as Warren, but we can learn a couple of things:

  1. Have a list of good companies that you had researched
  2. You can dollar cost average (ie buying every month or quarter or year)
  3. Hodl until it reaches the profit price you’re happy with (or live with the dividends)

Preventing regret later in life

After 3-4 years of not visiting family, me and my family finally got a chance to travel to them in Kuala Lumper (KL) and Seremban in September 2022. And it was truly nice to meet them again – met my grandma who’s already 86, and 2 families of uncles and aunties and some of their kids.

What stood out to me during this time is chancing across personal regrets from a couple of friends and families – interestingly, they were similar:

regret going back to their home country in Malaysia, whatever the reasons then

I got a little reflective on this and how preventing regret is a big part of my psyche and adventuring in passive income, personal finance and financial independence.

Here are some takeaways:

You gotta choose the value you believe in.

I feel that that this is something that’s often ignored or overlooked, and not discussed enough.

Maybe it’s because it’s “in the air”, kinda airy-fairy, and maybe your parents or culturally you may not cover these kind of topics. I understand, I grew up in a stoic kind-of-grit-and-pivot as it comes. Which is an okay approach to float, but the problem with this is that it’s a coasting/floating without directions.

You need to choose which values (and principles) that are important to you and let these values help you make life and money decisions. It’d bring clarity and even happiness.

When you understand the values you choose, you can align with decisions you make. Let me give you an example of how I set values in my head and heart, when it comes to finance and money:

#1: My time and freedom is greater than money, so I dont want to keep actively working or being locked into a situation long term for money. My money needs to be generated passively and work harder for me.

#2: I dont want bloody or shady money. My money that is made needs to be made with the regular work and through investments that are clean. I do not want to make dirty money. This leaves plenty of money on the table but I sleep well and I am comfortable to meet my Maker.

These 2 money values drives the way I do business and spend my money, so it’s commonplace to see me prioritize decisions:

  • that make money for me passively, such as being pre-occupied with dividend stock investing and eventual property investing
  • decrease taking on expense-generating activities unless its a true need, such as expensive cars and watches and phones, which bring me zero joy
  • teaching my kids about business and money and ethics

See, there’s a lot of societal pressures (be it family, friends, advertisements) which can be huge – when you don’t know or hadnt chosen your values, you can be easily affected and swayed. That’s why you need to know what’s important to you.

Of course it comes with sacrifices – I have to follow my values of not buying those swanky cars even if I can afford them. It just doesnt make sense to me. My friends who want to migrate will have to live with the pains and perhaps some loneliness; especially seeing their loved ones in medical conditions or even passing on, without being there by their side.

You’ve gotta know and decide what’s important to you, be it for money, life, love, career – define them clearly and these value will help you avoid big regrets down the road later.

Plan in advance and execute consistently based on the values you believe in.

This is a continuationof the values point I shared above.

It’s one thing to know and choose the values you prefer; it’s an entirely different thing to plan in advance and execute consistently based on the values you say you believe in.

Talking and thinking isn’t enough, you gotta do what you say and keep doing UNTIL it’s done.

Again, I will use my example of my financial and money values:

#1: My time and freedom is greater than money, so I dont want to keep actively working or being locked into a situation long term for money. My money needs to be generated passively and work harder for me.

#2: I dont want bloody or shady money. My money that is made needs to be made with the regular work and through investments that are clean. I do not want to make dirty money. This leaves plenty of money on the table but I sleep well and I am comfortable to meet my Maker.

For me to live the passive income lifestyle where my investments will pay for my lifestyles and expenses, I will definitely need much more than I can invest right now.

From a very conservative standpoint, say I want to have $10,000 to spend every single money so that I dont have to worry about money, assuming a 5% return on investment, that would mean I will need $2,400,000 (This number is derived by annual amount ($10,000 x 12 = $120,000) divided by 5%).

Two problems:

  1. I dont have that large sum of money lying around: I need to think of how to break that down into bite-size-chunks where I need to earn and invest X amount over a Y period of time
  2. I need to consider the possibility of adding a buffer, say 20-50%, in case things change down the road (who knows right?)

How to amass $2,400,000 in the least time possible

Perhaps, I can consider moving to a cheaper cost of living space. Maybe a cheaper country, or a cut down from $10,000 to $5,000 (this will decrease the amount to a much more easily $1,200,000).

If that can’t be done or I’m not willing to, then the next thing if I want speed, then I need to answer this question:

How much can I earn and invest per month/year?

The more I can invest, naturally the timeline decreases. Here, let me show you.

The more money you can invest, the faster you can accumulate (kinda straightforward).

How can you improve on this?

  1. Earn + save + invest more. This is the easiest in my opinion and is the #1 focus of mine, because I enjoy business so much. Why? Because business can grow. This year I may have $50K profits, but next year with improvements, we may earn $75K, and the extra $25K can be invested. The year after that maybe more and so on so forth. Business also can be sold for a sweet multiple that can accelerate my personal finance amount target too (I sold my first business for a sweet 7 figure deal after hustling like madlad for 10+ years).
  2. More time (I dont like this because time is the only resource we cannot replace or earn back; but this will work great for someone really young eg your kids/family/newgrads) but not suitable for me who’s 40 at this time of writing.
  3. Improve on your ability to research and invest. The calculations above are based on 5% returns. What if you can find something that can give you 10% per year? That changes everything. Let me show you:

Look at the difference – it’s massive. 2% vs 3% vs 5% vs 7.5% vs 10% etc can have startling differences. But investing can be hard and choosing the right steps can be hard, and I dont want to monitor the market too much or have too much volatility.

I take the approach of

  1. earn more building and growing business which pays for my living expenses
  2. dont spend unnecessarily
  3. invest as much as possible into relatively stable dividend stocks, investment properties and even vanguard (not dividends, but been 8-9% last 10 years)

That’s it.

Regardless, can you be patient for 20 years? It may be earlier if my business profits grows exponentially and I can invest more and more.

I can and I will, to prevent as much regrets as possible.

Resisting influece, the joneses and lifestyle creep

You may have come a long way from being that broke student living off instant noodles. I know and remember those days.

Maybe nowadays you earn a lot more, and can now afford to enjoy a much more expensive lifestyle because

  • you worked hard for it
  • you deserve it
  • you wanna catch up on lost time

These are what I call “lifestyle creep”, and they’re like addictive feel-good-drugs that does make you feel powerful and good…but only for a while. The more you earn, the more you spend.

  • Maybe your neighbour bought a swanky 4 wheel drive and you like it and thinking of buying a 2nd or 3rd car
  • Or your parents are bugging you to refinance their home for them or telling you to buy a bigger house
  • Maybe your close friends are planning to go on an expensive trip
  • Or your spouse wants an expensive gift
  • etc

And then after, nothing changes. Sure, you have more expenses and things to pay for. If anything, your bank account is smaller, and you’re further from your passive income lifestyle.

The longer you can live on a small budget with minimal expenses, the more you can save and invest — and the easier it will be to have more choice, freedom, and flexibility in the future.

Yes, it’s sometimes tough to cut back when you’re used to spending more or to a certain lifestyle. By practicing more frugal habits now, you can invest more and have more than enough to “play” with the extras later.

Save and invest as early as possible

When you’re young (20s or 30s), you have a big advantage that older people dont have: time.

Time is a very powerful tool that helps to compound your money, and the longer time you have, the more it can compound your investment returns and be increasingly profitable. I’ve shared this earlier so I wont go too much into this.

  1. Person A who invests $1K/month upon graduation at 22 years old, and continues all the way till they retire at 62 (total 40 years) with 5% returns will have $1,449,597.29
  2. Person B who invests $1K/month for 10 years with 5% returns will have $150,934.71

See the big difference when time is involved? Time plays a very big role especially when it comes to personal finance and financial independence.

Regret prevention

After hearing the personal stories of the regrets, I am doubling down on my efforts to

  • build even more passive income streams and portfolio
  • carving out more time to spend with people I care about including praying/time with God

I dont want to regret when I’m old, because when I’m old, I cant catch up; so this means I need to anticipate as much as I can to go in the direction of where and who I want to be in 10++ years time.

Why you MUST having personal accident insurance (affordable and useful)

I had a bad back sprain on 31st July 2022 because…I bought some fruits. For a gathering. Imagine my doctor’s and insurance agent’s face when I told them how carrying some berries sprained my back, lol.

But yeah, no matter how mundance the reason for my back sprain, my personal accident insurance covers my medical and physiotherapy bills (up to a certain extent, of course), which is very useful for me.

Accident plan insurance can be fairly affordable

Currently, I pay $50/month for this coverage, and though I dont like to get injuries and painful accidents, accidents do happen. With this coverage, I can get thousands of dollars cover for medical and physiotherapy treatment in the event of injuries.

This means that whenever these dang unforeseen injuries and accidents happen, I know I can get medical treatments to heal myself to the best level possible, rather than just “wait for it to go away“.

Waiting for injuries to heal naturally…is a crap way of handling injuries. For very, very mild cases, sure. But for medium cases and above, because I am in the line of physiotherapy, hand therapy etc, I know that unmanaged and untreated (or delayed treatments) will 100% lead to sub-par strength, mobility and function eventually. Even disability and chronic pain.

It’s never a good idea to ignore injuries and pains in the hopes it’d go away. Always consult a physician and physiotherapist.

In fact, many health conditions, if treated early, will have little health issues.

It’s mainly things left untreated, to fester, that often leads to bad outcomes. For example, treating cancer at early (benign) stages is always easier and better outcomes (and cheaper) than trying to save someone at the very terrible stage 4. Likewise, treating a simple injury early is much better than waiting for full rupture or infection.

2 powerful reasons for personal accident insurance

Next, the reason why I created this short video is because insurance is a very powerful tool to

  1. protect your health (which I’d covered above) and equally important is
  2. is that it can help protect your wealth

A bad injury or disease can truly wipe out a family’s wealth, and even plunge them deep into debt, without the right health insurance to protect their health as well as financial health.

I’ve met people whose families wealth and money has been wiped out, and they had to sell their homes and assets to pay for medical bills because they “dont believe in insurance”.

While its true that many people will sort of pay and dont use their insurance (which is a good thing), the function of insurance is to provide protection in the event something bad happens.

Insurance is similar to having an umbrella before rain

Kinda like having an umbrella in case it rains. If the weather’s great, sure, it’d be wasted to bring the brolly out…but if it has a heavy downpour with no nearby shelters, you will be very, very glad to have that umbrella.

This is the reason why I carve out thousands of dollars a year for my entire family to be cared for medical wise, and prevent financial crisis in the event a medical event happens.

4 Steps To Retire Early (financial education for beginners)

Passive income is an enabler

Sorting out your money and investments from an early age is one of the most powerful “power moves” that you can ever do for yourself and your loved ones.

It can enable you to

  • retire early,
  • be more selective of your jobs and colleagues,
  • gives you a whole lot of options in life be it
    • more travel
    • buy stuff you like or
    • even be more generous to people you care for such as spouse, parents, family and friends

It can mean living behind a good portfolio for your kiddos/next generation. Or live very comfortably in a country of your choice. Or afford necessary but expensive medical bills.

I cant stress it enough, and I dont get bored of saying this again and again.

4 Steps + Persistence.

It’s not complex like rocket science.

It has 4 main components:

  1. Calculate how much you spend per year. If you’re like me, not detailed, then you can go rough estimate based on food, mortgage/rent, utilities, transport costs etc.
  2. Take this yearly expense and multiply it by 30 to be more conservative (a min of X15 is usually “good enough” but for myself, I recommend a higher multiple).
  3. Save as much as you can, optimizing your expenses and whittling out expenses you can do without and invest into investments that you understand (very important) and returns at least 10% to you.
  4. Keep going until you hit X15 of your annual spending, and keep going. You should enjoy some of the dividend/investment returns, but reinvest as much as possible.

That’s…it. Nothing fancy shmancy. The hardest is probably #3 because it’s boring and takes time as well as persistence over a period of time.

Is it hard? Heck yeah.

Is it important? HELL YEAH!

Some things you can do to accelerate this:

  1. earn more, be it by starting a side hustle to invest more
  2. increase your savings rate by cutting out stuff you dont care about. Put in your bonuses as well

Top 10 Cars Millionaires Drive [not what you think]

Most “regular” millionaires don’t drive supercars like Ferraris, Porches, Tesla and other performance cars.

What they do drive are

  • regular cars like Volvo, Toyota and Buick
  • 4- or 5-year old used but reliable cars


The real question back is…why not?

Firstly, when you buy a new car, the value of the car depreciates 10-20% every year.

That could mean that by year 4, your car can be worth only 20% of what you paid for it the first time (80% capital loss or depreciation). So buying a car that is 4- or 5-year old, that could mean a 60-80%+ discount. Of course the used car needs to be reliable.

So instead of paying $100K for a brand new car, you may end up paying $20K for a 5-year old version of the same car.

Secondly, buying a reliable used car that is 80% discounted means that you can pay it off one-off or take a much smaller vehicle loan.

This means that you either pay zero or very minimal in car interest loan which translates to another layer of cost savings, like a powerful well-time 1-2 from a trained boxer.

Where does this lead you?

End up with more cash to invest

If you save up to 80% on the car price as well as interest on the loan, this allows you to invest more into investments that can appreciate in value as well as pay you a monthly or quarterly income. It’s a positive growth loop.

Conversely, the person who pays in full for a new car, takes a bigger car loan, and repeats it every 5 or so years – how much dividends and capital gains they can miss out? A LOT. This is exactly why

  • some get richer and the rich get richer* vs
  • middle class/poor get poorer

Simply by the consistent actions and decisions they make. Look, I dont want that to happen to you. I want you to be the one that can invest more and more into assets that make more money for you like the scenario in the asterisk*.

My favorite tried-and-tested way to save $1K (and more) every month

Short TLDR answer

  • Step 1: main bank account receives all incoming money
  • Step 2: create digital savings account for one purpose – SAVINGS. No debit card to this account.
  • Step 3: every month when money from salary gets banked in, X amount goes into savings account.
  • Step 4: spend only from main account

That’s it.

I spend from main account only, and whatever is in savings account, I send majority if not all into income-generating-dividend stocks. Not only does my savings happen automatically, it is used mainly to grow my investment portfolio.


I thought everyone does this (because it’s second nature to me), and I realized that I’d been doing this intuitively/logically for years, but it’s not the most natural thing for everyone…because most people’s nature is to either

  1. Spend all they have / can OR
  2. They have too much bills and too little month

The 50% solution for problems #1 and #2

  • Problem #1: Spend all they have / can is more of an impulse problem
  • Problem #2: They have too much bills and too little month — can be a combination of impulse problem as well as not earning enough

I’m gonna write about dealing with impulse-buying.

Personally, I know that I am not very strong-willed, because I have finite energy. When I’m alert and well-rested, I’m super on the ball and I can make the best decisions….but conversely, I realize that I make really, really stupid decisions when I’m tired (such as end of the day) or when I have too much money (eg more than $1K in my bank account).

Some examples:

  1. At the end of the day, my ability to eat healthily goes out the window. One tub of ice-cream? Sure, why not 2? Lol.
  2. When I’ve $1K in my account, I get itchy and wanna spend. And once I’ve spent it, the next day, post-spending clarity sets in and I ask myself: why the fuck did I buy this rainbow sock?

I’ve too many examples where willpower is sexy but it doesnt work all the time. So I’d rather get willpower out of the way and make it a system. Make earning more money or investing more money automatic.

Then my approach will work for you ie automatic deduction into a hard-to-reach bank account. I make it even harder to squander that savings by immediately using the savings to buy income-generating dividend stock.

Well if I’m gonna use it, I’m gonna buy shit that makes me more money right.

Earning more is never wrong

Eemotional/brainless/impulse-buying is one thing, and I can circumvent that to an extent by auto-savings like above.

BUUUUUUUT 50% of the time, most of our money problems will be solved by simply earning more. In fact, let me take it one step higher:

Nothing, and I mean nothing, beats earning more – it just opens up more flexibility and choices be it in spending and investing.

I will write and share in a different post. Today, we’ll just talk about dealing with that monkey/lizard in our brain that just wanna spend and fuck.

4 Profitable Side Hustle That Works in 2022 (my fav is #2)

Earning more is never wrong.

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.

Time To Buy The 2022 Dip? (crypto and stocks crash)

Feds raise fees by 75 basis points

With feds increasing interest rates and both the stock market and crypto markets seemingly on meltdown (at this time in writing, bitcoin is hovering around $20K, which is “peak” of 2017 and down 60% from all time high of $65K).

…which brings about some questions:

  • Is it time to buy the dip?
  • Should we buy the dip?
  • When is it time to buy the dip?

Short answer: Who knows?

I take the approach of first dollar-cost-average (DCA) which means that if the market goes down, my pre-set budget buys.

If the market goes up, my pre-set budget buys.

I dont like or want to spend too much time looking at charts and being too absorbed or up-and-down monitoring the market (which I am very guilty of lol). 2nd approach is when I have extra surplus, I do extra investing as prices dip.

That’s pretty much most of it.

Reports show that time IN the market is more important than timing the market, and I am definitely not smart enough to time the market at all.


I use https://nigelchua.com/crypto (cryptodotcom) for most of my hodling