Let me show you a typical example.
- John Doe, who earns $4000/month. He spends it all with some 5% savings, and he’s pretty happy of his progress. It’s not shabby, and he’s content. In a good month, he can save more, around 10%. In about 10 years, he’s socked away some $24,000.
- Jane Doe, who also earns $4000 a month. She decides to save a little more so she can invest 30% of her income every month into dividend stocks. She follows some of the tricks of the trade I share here in nigelchua.com. In 10 years, assuming the dividend stocks pay out average 7% per year and she reinvests every single dividend, she’d have $241,210.81. That’s already 10X of John. 7% per year on this means if she stops working, she’d continue to receive $16,884.7567 per year in dividend.
Which sounds sexier?
I dont know bout you, but I really really like #2’s approach better.
I can budget to spend at least 50% of my dividends on frivolous purchases, and reinvest the difference.
Maybe even take some of the dividends to start an online business.
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.
Where To Next?
- Subscribe to my newsletter – no spam and just my best stuff. Unsubscribe anytime.
- Go to Homepage of nigelchua.com
- If you like videos, head to All Videos – all the latest (and all) videos are uploaded there.
- Visit the Blog to read the latest articles and videos.
- Head over my Resources page to the products and services I use to improve business, relationships, health and more.
- I recommend everyone to learn to start an online business for so many reasons: low cost, valuable skill (marketing), potential for passive income, it works 24/7 for you and no income ceiling. There's a free membership at this platform which I'd been part of since 2015 and it's where I learnt how to earn my first $100 online. See you on the inside.