Hehe... I specifically won't let myself be drawn down. That's why I like HBD. If I was to have 10,000HBD the interest would be about 2000HBD yearly. In Naira about 1.5M Naira/year. That amount would be over 100,000 Naira monthly. Far more than minimum wage and what I'm hoping would be a marginally liveable wage for one person.
I could hire a person forever without touching the principal and dragging myself down.
Now if I can get that person working making some money to re-invest in more HBD (or other investment) then there comes a time when I can help a second person and then continue the chain.
I'm using HIVE because I can have my investment and use it too :)
I will look at the Flywheel structure of business later tonight though. Off to a movie with friends tonight.
Interesting thoughts
Enjoy your night out sir
Hello @terganftp :)
I think that's a great strategy you have here with HBD. One could literally retire from work in the traditional sense and earn passive income from the 20% APR when enough HBD is saved.
And the snowball effect could begin from their in which the interest could be used to build other investments and passive income streams until you have more funds coming your way. I think that's a standard path that the wealthy use and it's a bit mind blowing that we could also do it now on another scale with HBD.
Hive is truly a great opportunity that many have realised the impact it could have on their lives if they stick with it for some years. I see blogging as the gateway or entry point. But the Hive ecosystem is really much bigger than that.
HIVE is so much bigger! However my first goal is crazy enough when I tell people. If I was to go deeper into its possibilities people would think I was truly insane... so one thing at a time. Thanks for the response 😀
Indeed! it can be that way sometimes, we have big ambitions and goals that we want to achieve but it is good to take things none step at a time. That's what I like to do in most cases.
You're most welcome :)
I had to snicker a little....
I like to procrastinate but doing things none steps at a time and I'll never reach my goals.
I've been thinking that your flywheel analogy is a good business model. I think I prefer a community or solidarity model. One person can't do much, but a community can accomplish huge things.
Another analogy...One soldier is easily defeated but a good platoon can change history.
But that's a post for another day ;)
And just remember.... none steps at a time.... hahaha 😎😛🤣
(no offence meant. I just needed to share the smile you gave me)
Absolutely, a community model can work well when all members of the group have a shared vision and are working towards a unified goal.
I think there's power in numbers and the soldier and platoon analogy is a good one :)
Haha, how would none steps at a time look in practice? We have to take steps at some point to move forward.
I think my lounging chair knows what none steps forward looks like. It means being complacent and doing nothing. Very common for many in Canada unfortunately.