I have documented that one of my financial goals is to achieve a monthly passive income of $5000. This isn't exactly an easy feat to achieve, but it definitely is possible. Like all things in life, nothing will come on a silver platter (unless you are born into a rich family). To lay the ground work for financial freedom, i am fully aware of the need to start cultivating good habits, exercise financial discipline and to constantly improve my mind.

People tend to look for quick ways to earn money. In reality, there is no magic formula or get-rich-quick scheme to success. In fact, in my opinion, it all boils down to a few important points. Following them may not ensure that you will strike it rich, but it will surely put you on the right path to financial freedom!.

1. Get a job, Work hard, constantly upgrade yourself.

2. Spend within your means.

3. Save the rest and invest for income.

4. Save the income/dividends and re-invest again when appropriate.
1. Get a job, work hard, constantly upgrade yourself.

 Unless you already own a business, otherwise this would be your main source of active income. Having a job guarantees that food will be on the table. Work hard and improve yourself through education. This will equip yourself with the right tools to succeed. 

 2. Spend within your means.

 It is easy to be caught up in the world of luxurious and wants. But the 2nd key to success is to spend within your means. My father has always made this fact clear to me, since i was young. That if i were to earn $10, i should not be spending $12. I have always kept his teaching in mind and this is the basis of my savings.

 3. Save the rest and invest for income.

 If you have been saving diligently, congratulations! Now is the time to put that savings into good use. Instead of leaving the money in the bank, invest the money into an ETF, Bond, Property or a Stock, will allow you to achieve return on your investments. 

 4. Save the income/dividends and re-invest again when appropriate.

Finally, the concept to growth is: compounding. Whilst it is tempting to spend that dividend on a nice watch or a fancy dinner, putting it back into your portfolio or saving it in a warchest for re-investing will surely grow your passive income.


Hopefully, these nuggets of information will help you achieve great success on your own personal financial goals. Remember, life is not all about money.

 Yours,
Dream Chaser

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