What are the side hustles that you can explore when you are in your teens in Singapore?

Here are some options to consider:

1. Freelance Services (Online)

• Graphic Design: If you're skilled with design software like Adobe Photoshop or Canva, you can create graphics, logos, or social media content.
• Video Editing: With platforms like TikTok and YouTube, many content creators need help with video editing.
• Writing: You can write blog posts, articles, or even help with social media content for businesses or individuals.

Platforms to explore: Fiverr, Upwork, or even local Facebook groups.

2. Tutoring

• Academic Tutoring: If you're strong in a particular subject, you can tutor younger students. Subjects like math, science, and English are always in demand.
• Music/Arts Tutoring: If you play an instrument or excel in arts, you can teach beginners.

How to start: You can advertise your services through platforms like Carousell or word of mouth.

3. Selling Crafts or Art

• Handmade Crafts: If you have a knack for making things (e.g., jewelry, keychains, or customized gifts), you can sell them online.
• Digital Art: Sell digital artworks or printables via platforms like Etsy or Carousell.

4. Reselling Preloved Items

• Clothing and Electronics: You can resell second-hand or thrifted items that are still in good condition. Look for items that have a high resale value, clean them up, and sell them online.

Platforms: Carousell or Instagram.

5. Content Creation

• YouTube or TikTok: If you're into video creation, you can start a YouTube channel or TikTok account based on your interests. Eventually, you may monetize your content through ad revenue, sponsorships, or affiliate marketing.
• Instagram/Food Blogging: Some teens explore food blogging or social media influencer paths.

6. Babysitting or Pet Sitting

• Babysitting: If you're responsible and good with kids, babysitting can be a flexible way to earn money.
• Pet Sitting/Walking: Offering to take care of pets while owners are away can be both enjoyable and profitable.

How to start: Promote your services through community groups or Carousell.

7. E-commerce

• Dropshipping: Without needing to hold inventory, you can set up a dropshipping store where products are shipped directly from suppliers to customers.
• Reselling: Buy products in bulk (such as phone cases, accessories, or clothing) and sell them at a markup.

Platforms: Shopify, Carousell, or Shopee.

8. Photography

• If you have an interest in photography, you can take photos at events (e.g., birthday parties) or sell your photos online.
• Stock Photography: Websites like Shutterstock and Adobe Stock allow you to sell your photos to a global audience.

9. Delivery Services

• Teens (16 years old and above) can work as delivery riders for food or parcel delivery services like GrabFood or Deliveroo, provided you have a bicycle or PMD.

10. Gaming and Streaming

• Twitch/Youtube Streaming: If you're into gaming, you can stream on Twitch or YouTube. While this requires time to build an audience, it can be rewarding over time.
• eSports: Singapore has a growing eSports scene, and there are opportunities to earn money through tournaments and sponsorships.

11. Surveys or Market Research

• Some websites or apps pay for taking surveys or participating in focus groups. While it’s not high-paying, it can be an easy way to make extra cash.

Platforms: Toluna, YouGov, Rakuten Insights.

12. Social Media Management

• Many small businesses in Singapore need help managing their social media accounts. You can offer to handle their posting schedules, respond to comments, and grow their online presence.

13. Car Wash or House Cleaning

• You can offer simple services like washing cars or basic house cleaning around your neighborhood.

14. Voiceover Work

• If you have a clear voice, you can explore doing voiceovers for videos, commercials, or animations.

Platforms: Voices.com, Fiverr.

These side hustles can provide a flexible way for teens to make extra income, build skills, and even find long-term passions. Keep in mind to balance your side hustle with school and personal time

Why rich people got mulitple sources of income and how to create them from your 20s/30s/40/50s

Rich people typically have multiple sources of income for several key reasons:

1. Diversification of Risk:

• Relying on a single income source is risky. If that source fails (e.g., losing a job or business downturn), they could face financial hardship. Multiple income streams reduce the risk of financial instability.

2. Exponential Wealth Growth:

• Multiple income sources can accelerate wealth accumulation. Instead of only relying on salary or business profits, they also benefit from investments, royalties, and other passive income streams. These sources can grow simultaneously.

3. Financial Freedom:

• Wealthy individuals often seek financial freedom, which means not being tied to a single job or business. Multiple streams of income provide more flexibility, allowing them to pursue their passions, take more risks, or retire early.

4. Reinvestment Opportunities:

• With additional income streams, rich people have more capital to reinvest into new opportunities, further compounding their wealth.

How to Create Multiple Sources of Income by Decade:

---

In Your 20s:

This is the ideal time to start building your foundation for multiple income streams. You have the advantage of time and flexibility to experiment with various sources.

1. Active Income (Job/Side Hustles):

   • Focus on developing valuable skills in your primary job or business.
   • Take on freelance or part-time gigs that align with your interests (e.g., graphic design, content writing, coding).
   • Use this stage to learn about the fields you want to explore.

2. Investing in Stocks or ETFs:

   • Start investing a portion of your salary into the stock market.
   • Focus on dividend-paying stocks or ETFs to begin generating passive income over time.

3. Build Digital Assets:

   • Consider starting a blog, YouTube channel, or podcast on a topic you're passionate about. These can generate income from ads, sponsorships, and affiliate marketing over time.

4. Real Estate (Start Small):

   • If financially feasible, invest in real estate by renting out a room or doing house hacking (buying a property, living in one part, and renting out the rest).

---

In Your 30s:

By this stage, you're likely earning more in your career, and you should be looking to expand on the foundations you laid in your 20s.

1. Business/Entrepreneurship:

   • Start your own business or scale a side hustle. By now, you should have some clarity on what business or industry you want to invest your time into.
   • E-commerce, consulting, or a service-based business can help generate a significant income stream.

2. Real Estate Investments:

   • Invest in rental properties if you haven’t already.
   • Consider real estate crowdfunding or REITs if buying physical property isn’t feasible.

3. Dividend Growth Investing:

   • Continue building a portfolio of dividend-paying stocks, focusing on companies that increase their dividends over time.
   • Reinvest the dividends to take advantage of compounding returns.

4. Intellectual Property:

   • If you're an expert in a field, create an online course, write a book, or offer training programs. These can generate royalties or recurring income long-term.

5. Angel Investing:

   • If you have extra capital, consider investing in startups or small businesses. This can potentially provide equity returns and diversify your income.

---

In Your 40s:

At this stage, you should focus on building more passive income and optimizing the sources you’ve already created.

1. Scaling Your Investments:

   • By now, you should be investing more into stocks, bonds, and real estate. You may also have a well-diversified portfolio.
   • Consider buying more income-generating assets, such as dividend stocks, REITs, and bonds.

2. Owning Businesses:

   • If you’ve started a business, this is the time to scale it. Hire more people, automate processes, and potentially remove yourself from day-to-day operations to make it a source of passive income.

3. Franchise or Licensing:

   • Look into franchising opportunities or licensing your own business ideas. This allows you to earn income from a business without having to manage every aspect of it.

4. Passive Digital Income:

   • Continue generating income from books, courses, apps, or software developed in your 30s.
   • Build or acquire digital assets such as niche websites or apps that generate advertising or affiliate revenue.

---

In Your 50s:

Your focus now should be on maximizing and protecting your wealth, creating income streams that require less time and effort, and transitioning to fully passive income sources.

1. Real Estate (Passive):

   • Focus on real estate that provides passive rental income (e.g., owning multiple properties, hiring a property management company).
   • Explore real estate syndication or partnerships where your involvement is limited, but you still earn returns.

2. High-Yield Investments:

   • Shift some of your stock portfolio to higher dividend-paying stocks, bonds, or REITs that provide consistent income. Prioritize safer, income-generating assets as you near retirement.

3. Sell or Exit Business:

   • If you have built a business over the years, consider selling it, taking profits, or transitioning it to a more passive ownership role.

4. Annuities:

   • Consider investing in annuities or other fixed-income products that can provide steady cash flow in retirement

What percentage of income to put aside for investing when you first start to work in 20s/30s/40s/50s?

The percentage of income to set aside for investing depends on your age, financial goals, and current obligations. Here are some general guidelines based on the different stages of life:

20s:

• Recommendation: 15% to 25% of income for investing.
• Reason: You have the advantage of time. Early investing allows your money to benefit from compound growth. You can take more risks because you have time to recover from potential market downturns. Even small amounts will grow significantly over time.

30s:

• Recommendation: 20% to 30% of income.
• Reason: By this stage, many people have established their careers and may also face larger financial commitments (like buying a house or raising a family). It’s still important to prioritize investing because you’re now looking at a shorter time horizon to retirement.

40s:

• Recommendation: 25% to 35% of income.
• Reason: At this point, retirement becomes a more tangible goal. If you haven’t saved as much in your 20s and 30s, you may need to increase your investment rate to catch up. It’s also a good time to focus on safer investments and building a diversified portfolio.

50s:

• Recommendation: 30% to 40% of income.
• Reason: With retirement approaching, you should be maximizing your savings and focusing on a more conservative investment strategy. Your risk tolerance may decrease as you focus on preserving capital and generating income for retirement.

General Tips:

• Emergency Fund: Before focusing heavily on investing, ensure you have an emergency fund covering 3-6 months of living expenses.
• Automate Savings: Automating your savings and investment contributions can help ensure consistency.
• Debt Management: If you have high-interest debt, it might be beneficial to pay that down before investing heavily.

The earlier you start, the more flexibility you’ll have later on

Retro4life Gaming

I recently bought a Retro4life Gaming machine which includes 4 controllers and 2 controller playguns to play the games. The games ranges from Nintendo, Mame, Sega, Dreamcast, Super Nintendo, Gamecube, Playstation 1, Playstation 2. So many games to play. Back in my childhood, i only play Sega, Nintendo and Playstation 1 only. I also bought it at $400+ so it was definitely worth it to me as back then during the 1990s and 2000s, the games and the console cost a lot and not forgetting the controllers as well. Come to think of it, i don't know where my playstation and sega and nintendo went. Most probably my Dad could have sell it or throw it out or give it to people. That were the days.