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Old 13-11-2016, 11:22 AM
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You should aspire more. Don't rest on your laurels. Are you currently living in a condo? If you are, you should work harder to own a bungalow with a private swimming pool and private gym so that you don't have to share with others. A GCB costs $20 million. Work harder and longer, as long as you can. Don't be easily satisfied. All the best.


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Originally Posted by Unregistered View Post
Nobody would want to nor can work 24/7 - meaning 24 hours a day, 7 days a week. Not too long ago, maybe 15 years ago, a lot of companies including the civil service require their employees to work 5 and a half days week. Having worked in those days and now, I can say that having a 2 day weekend definitely beats having one and half day weekend. That, however, does not mean that I am working fewer hours now. I am still easily clocking 45 hours or more each week. But having the 2 day weekend really allowed me to unwind and re-charge. I feel fresh and energized going into each new week.

Yes, we as humans, cannot work 24/7 but what about our money? Wouldn't it be nice to have income coming in while we sleep, while we unwind and relax and while we spend? Especially if you are nearing retirement like myself. At 56, I can perhaps working for another 6 years? With Trump taking over as the new US president next year, the world is a lot more uncertain. So, will the company able to let me work another 6 years?

To prepare for such uncertainties, I have been building up my passive income sources over the years. Yes, from those years when we were working 5 and a half days a week till today. Investing for passive income is a slow process, and initially you may even be discouraged by the slow returns. But like they say - good things come to those who wait!

When I first started investing, I was very reluctant to share with my wife and friends because what I was getting in passive income was insignificant, something like $200 - $300 per month. Friends were getting more from their fixed deposits interest!

Now, things are different. With the current year coming to a close, my tally of my passive income for this year comes up to $149k. It grew roughly by $10k each year for the last 4 years. It grew because of constant cash infusion into more investment plus reinvesting the passive income as I am still working.

Having passive income is akin to having multiple pay days throughout the year. My "busiest" income months are in May, August, October and November because of the investment mixed that I am currently having. Busiest because every few days I would have a few thousand dollars credited into my bank account. It is really a liberating feeling to see your account balance goes up instead of coming down when you go and withdraw money!

My points in sharing this are that:
1. We cannot work, neither do we want to work 24/7, but our money can!
2. Investing for income is a slow process but you have to start somewhere
3. If you don't need to use the passive income, reinvest them and see the compounding effect.
4. Having passive income stream is always a good hedge against an uncertain economy. It removes unnecessary stress. Life should be enjoyed and not be burdened with worries, especially over money.
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