Huge shout out to @khaleelkazi for the inspiration on today's post!
Khal said something on Twitter that just blew my mind and really strengthened my believe in the long term vision for Hive.
Let me share with you first, a story....
Guys like @bitcoinflood will appreciate this because the background him and I share in online business, this is preached to us from day one! The power of residual income and how getting paid from dividends is a fantastic business model.
And it's always been my personal goal on Hive. I talk about it each and every week when I share that I want to hit around 100 Hive per day. It's really hit home for me this year because I've wanted to focus on my HBD totals. And Khal's Tweet highlighted how powerful stacking HBD can be.
Now 600k in HBD is a pipe dream for a lot of us on chain. Heck my goal for 2023 is 3000 HBD lol But the point is exciting when you break it down. Heck, let's even shoot for 100k in HBD (which is a lot, yes, but you can see how it can add up over time)...100k would get us a few thousand dollars in dividend payments each and every month.
That's a living for a LOT of people!
Imagine getting an extra $2-4 k a month...Just from the interest you would earn from putting HBD in savings???
O.K., there isn't a guarantee that by the time we all get 100k in HBD savings, we'd still be at 20% APR....But again, it's the POINT of the exercise, the potential of it. And that has me smiling from ear to ear.
That truly is the 'dream' for so many of us on Hive. The dream of making a full time living from our efforts and investments here on the blockchain. And seeing that Tweet that Khal put out there, gave me a ton of hope! And yeah, 600k is a lot...But imagine if we 'baby stepped' it!
Let's shoot for $1000 in HBD savings. And then build it to 10k. Increasing it slowly over time and using compound interest to our advantage....
Hey I'm not the smartest guy on the planet, but to me....This all seems very doable. And I don't have the exact numbers, but this CAN happen for a lot of us. It just comes down to a few activities we need to take part in over the next few years on chain....
Continue to create content!
Continue to curate content!
Engage daily through comments!
Power up when we can and as often as we can!
Add the rewards we get in the form of liquid HBD< and send it to our savings account.
Is there an exact timeline to this? I don't think so, unless we have unlimited funds and unlimited time. But the HBD savings account is absolutely brilliant for our long term dreams on Hive.
Use it and continue to take advantage of the greatest stable-ish coin in the crypto space ;)
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That passive income lifestyle! Idk why but for some reason I just want to keep building it it's like a fun game but a seriously real game of live. While that APR will most likely change there is one thing you can almost and I say almost lightly is that 1HBD should always be worth $1 so it's ALL profit on that nice 20% APR right now.
Yeah for sure man, and I think because it's a stable-ish coin, works to our advantage. We don't lose our minds if it goes to 95 cents lol
!CTP
It would take a lil dedication but 1000 HBD savings is pretty doable as long as all the other posting and commenting are being taken care of.
Worthy goal of perusing for sure…
Yeah 1000 could be achieved fairly easily, then the bigger stacks would take some dedication lol
!CTP
It's posts like these that are a reminder of why we keep going when others have bailed. Even looking at my own small (but growing drip by drip) account, I've come a long way compared to just one year ago. Like a drowning man finally able to break to the surface and enjoy some much-needed gulps of air.
The fact that I can now send my earned HBD to savings, is a welcome act and a steady bet on the future. The point is to give yourself small, achieveable goals and keep putting one foot in front of another. 1 HBD becomes 10, that becomes 20, 100 and next thing you know, you're on your way! :)
It's the greatest wealth creation strategy ever...Create value on chain via content or curation....Take the rewards and stash them for 20% APR lol
!CTP
Even 20k HBD for me is a pipe dream, I hope I can get up to 10k maybe during the next bull run, 600k hbd is crazy and I'm seeing the lazy Panda account and it feels unreal and unbelievable. Honestly, it's a huge motivation.
Yeah it's crazy that people on this chain have that much crypto to power up or stash into HBD savings....Makes me re-evaluate all my life choices LOLOL
!CTP
Hahaha, makes everyone evaluate their life Choices lol. I think that kind of money is life-changing.
I worked for passive lifestyle but it didn't worked in 20s and 30s. So I am kind of losing hope and just sticking with showing up and making money as time comes. I have been keeping my LARYNX tokens for stake and compared to HBD, they are kind of more in my account. I have not touched 100 HBD yet but I am hopeful. I have this goal of reaching atleast 1K but that's a long road ahead. My horse here is delegation. I feel apart from content and comments, it's the deelgation that would work :)
The problem I have found with passive income, is people try to build multiple streams...Instead of focusing on one at a time. That was my downfall for sure.
!CTP
As always "slow but steady wins the race." HBD is a great incentive for me because I have so seldom lived a life that cost significantly less than I made. But I've determined that if I "round off" every post to whole dollars, I could gradually build a balance over time. Add to that the 20%, and it becomes something... especially if you give it 10 years or so!
For sure, that's the trick right...Giving it years to stack. No way we can get it overnight unless we had a lot of disposable income. For now, we just stack every day, over time!
!CTP
Am at 2k now. Hoping to make it to 3k by 2023 end. 600k HBD in savings will be full-time retirement for me. hahahaha. But then, that amount is so huge I wouldnt have to struggle much financially even if the interest rate comes down to 10%
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That's something to consider too. No way to be sure that 20% lasts for years and years...But heck, even at 10% we're doing great!
!CTP
Sure. With the numbers, even 10% is cool. We keep on pushing it
HBD is very good but I prefer Hive, which is what everything revolves around. So my goal version @khaleelkazi would be 600k Hive Power
Hive is the governance, while HBD is the actual currency. Stablecoins will be how people do business inside the crypto arena in the future I beleive.
!CTP
Impressive! Passive income/ dividend income is definitely the end goal and an information like this, kicks the mind on overdrive on the potential opportunities we have here on Hive. We just have to stay the course and keep building, HBD is becoming more of a priority lol.
It really is. For me, this year is all about stacking that HBD and seeing it grow over time.
!CTP
The same here too. Slowly but surely we will get there :)
Just keep building and leaving options for passive income is the best thing to do. It will pay off over time and with 1k HBD there, you get over 10 HBD a month. So if you get that to like 10k HBD, then it could be 100 HBD a month. It's all about building it so it can become an income source.
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100 HBD a month is fantastic, and see that's a good goal anyone can shoot for!!
!CTP
The potential is huge indeed. This year, I’m concentrating on stacking my HP, but once I am able comfortably put my monthly average aside, I’ll be adding more HBD to my savings.
It is a dream of many of us to be able to sustain ourselves from just these online activities 💙
That's the trick right, taking what we do here and putting into the greatest savings account ever!
!CTP
Yes, totally. Wish I started posting in 2021, when I created my account 🙈
Did I hear right that CTP command doesn’t work anymore?
My mind was reeling this weekend when I saw that come across. I am still wrapping my head around it. I was shooting for 6000 in savings to earn 100 HBD per month. 60K would be cool too. That would cover my house payment. I'd want to roll money back in though. Keep it growing. I replied to the Tweet already, but for me 600K... 5K back into HBD, 1K into Hive, 4K becomes my new retirement salary.
That's my hope, to build this up to when Im ready to retire, it's on auto pilot. That's the dream at least LOL
!CTP
For sure! Sounds like a great dream!
For me, it is a constant struggle between HBD savings and increasing my Hive stake. One is stable-ish and the other has the upward potential. I now decided to rather increase my Hive stake until I reach my core goal as @dagger212 always notes on his articles. I do not know what my core holding will be but it is definitely 3.3K HP I have right now :P
The battle for sure. I spent the first 5 years-ish growing Hive. So now I'm going to focus on HBD. But I completely understand the struggle LOL
!CTP
Take it as $1k a month if you put 60k HBD into saving which is relatively feasable compared to the 600k Goal!
$1k monthly is huge when converted into many countries currencies!
But I do believe it'll be, at first, more beneficial to accumulate HP.
Absolutely! 600k is a really good dream but for the majority of us, just not int he cards. We need something achievable to shoot for!
!CTP
$10,000 in South Africa is R170,000+ which is an absolute fortune! Well, I mean... if you used that to finance something it would turn into a lot of assets quickly as well. If you just had to live off it, you would live in luxury!
I think we would all love to get to that spot where HBD earning or Hive earnings would get us a living wage... I think steady work and compounding is the way to do it... I have a chart... It will take me years, but if I stick to it, I shall get there!
That's such a benefit for Hive, across the globe. 1 HBD is always 1 HBD...And 1 Hive is always 1 Hive, no matter what country! Powerful potential!
!CTP
My goal was to add $22 HBD to savings for January, $23 for February and so on... I have actually powered along till Jun2 2023's goal... but this carries on with both compounding and adding $1 each month to what I chuck at savings on my "big plan" and... I reach $600,000 by May 2047! LOL I would be 61 that year. 🤦♂️🤦♂️🤦♂️
Ok... but that's not what I need to replace my monthly income.... I need a lot less than that. hehe
61 years old, that's a pretty good retirement!!!! lol
Yeah! Hopefully, inflation won't make that $10,000 meaningless by then!
I have a very few HBD savings right now but I really hope so it will increase as time goes by and as I keep on engaging in the platform.
slow and steady. it grows fairly quickly the more active you are.
!CTP
Yes I hope so I could give more time to engage.
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I wish you best of luck for your dream. As far as Khal tweet concern, it not easy for everyone to have 600k$ worth of HBD, It's doable, but it's very hard and everyone of us here want to have stable source of income to meet our daily needs.