Tuesday, 12 April 2016

2 Secrets to Retire Early in Singapore

Hi, my name is Dominic. I’m 27 this year. Let me share with you the steps I took to kick-start my online business. A few years ago, I was a Singapore Polytechnic student studying Biotechnology. By then, I already had a dream of making my own money instead of working for someone else. I knew having a job wouldn’t give me the real sense of security I was looking for.

After all, I saw how my parents dedicated their energy and lives to their jobs… only to be betrayed by their companies when they were replaced by fresh graduates who cost much lesser money to hire. So, I began searching for all the different methods to make passive income in Singapore.

As you may already know, there are so many ways to build passive income. There’s stock investing, owning a business, property investing, etc. However, not every method is suited for everyone. I learned it the hard way. These are just some of the things I have tried:
  • I lost $3,000 after putting in my first $10,000 into the stock market (That’s a 30% loss of capital! Of course, I take responsibility as I probably didn’t know what I was doing)
  • I spent 3 years and over $30,000 USD investing in online programs which promised to teach me the tricks to making money online (I didn’t even make back $5,000 in those years)
  • I almost went into MLM (Multi-Level Marketing) selling magnetic bed pads and pillows that would supposedly help people sleep better at night (I quit on my 2nd day when I found out I had to first pitch it to my family members and friends)
  • I created a software service called ArticleSubmitAuto to help people rank higher in the search engines (Google it and you’ll find many people recommending it to their friends and others at one point of time. Now, to be fair, it was good money. But it’s really tough because I had to keep the software updated, reply to customer emails and so on. I was literally working my butt off)
Trust me, I did a lot more than I listed above. I’ve also tested literally anything I came across – other stuff like blogging, promoting other people’s products (affiliate marketing), etc. Despite the lack of success, I pressed on and kept searching for my passive income generator. I knew there must be a way for me out there. I was right. It was after I discovered the 2 secrets that helped me during my entrepreneur journey:
  • The first secret is… to leverage on the pain of retirement.
  • The second secret is knowing how to grow your money and making money work for you… not the other way around!
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