It's the time of the year!
New year... New resolution.... New Planning...
Financial planning is often the least in my resolution. Typically, I only plan to clear up the previous year's debt, have more savings, and increasing my wealth. When it comes to my life, I always manage to get by. Some days are good; some days aren't. But, this year, I want to put financial planning on top of my priorities.
In 2020, my family was much helped by the savings I had from the previous year. That was the financial lesson I learned last year that investment and savings are essential. With prompt from @theycallmedan's initiative, I hope to narrow down my goal into a more actionable and achievable goal. Click the link If you want to check out the prompts and the challenge to Share Your Financial Goals.
Which is going to be your investment strategy for 2021?
Considering I don't have much capital, I think this year I will start with time investment. With so much time I have at hand, I intend to find jobs(yes, more than one). Finding a job is tough these days, but I will try once more to dip myself into the freelancing world after hiatus for more than a year. So, hopefully, I can yield some results next year.
Another investment strategy I have this year will invest in a cryptocurrency that features staking and earning passive income. For a start, I also intend to increase my delegation to @ocdb from 750 to 1000(I hope more :D ). It has been quite profitable to delegate my hive power to the project. It's quite a win-win situation where I can support authors while also earning passive income from it. Hopefully, with this strategy in 12 months, I can yield a good result.
The last investment strategy I have is investing in the phone flipping business. The capital is small, easy to get into, and immensely profitable to earn some income. My cousin has been doing it for a few months and has managed to build decent savings for himself. So, I intend to partner up with him.
Do you have any specific assets that you want to invest?
Since I got into silver and gold last year, I intend to increase my investment in both. Silver is a cheaper entry for me at the moment and easy to sell.
Preferred Investment? Crypto, Real State, Commodities, Stocks?
For now, my preferred investment is cryptocurrencies. I wish to get into real estate and commodities one day. But for now, cryptocurrency is the market that I can easily enter, participate in, and manage.
Do you have a plan or a set of goals on how to use and grow your stake?
I intend to accumulate silver and sell them once it reaches a price of one gram of gold to grow my stake. Then, I will trade the gold to acquaire more capital to buy more cryptocurrencies, mainly Hive and other currencies, to stack for passive income.
Since I move in back with my parents, I manage to minimize my spending on many things. So I hope with this and my planning this year, I can achieve my goal to grow my stake and savings. Not only that, hopefully, I can get more freelance gig so I can increase my investment and capital to invest. The good thing is, this year, I don't have significant debt, which makes things a whole lot easier and more hopeful.
Anyhow, that is my financial planning this year. I will end this post with my LEO prediction that LEO will reach around 0.90$ to 1.10$.
Posted Using LeoFinance Beta
The UI on Leo really is much better.
Do you get LEO from using LeoFinance even when you dont have LEO or do you need to invest first?
I am not aware of it to be honest. This is my first time after months posting here. But for instance, this post will get 0.18 LEO reward so it seems we can get LEO from posting here.
In terms of UI, I think it's pretty minimalistic and has all the features needed. I also find it faster to load than peakd.com in a low spec laptop. So I'd have to agree it's better.
Posted Using LeoFinance Beta
Your post has been voted as a part of Encouragement program. Keep up the good work!
Try https://ecency.com and Earn Points in every action (being online, posting, commenting, reblog, vote and more).
Boost your earnings, double reward, double fun! 😉
Support Ecency, in our mission:
Ecency: https://ecency.com/proposals/141
Hivesigner: Vote for Proposal
It’s great that you are making your financial plans a priority this year. It definitely helps when you don’t have a lot of debt.
I hope all of your plans and ambitions come to pass!!!
Posted Using LeoFinance Beta
you too, I hope the same thing. For me, one thing that greatly help is my decision to move back in with my mother for financial reason and other reasons too.
Posted Using LeoFinance Beta
Thank you!
We just moved out of my mother-in-law’s house. We had to live there due to a financial setback. It really helped us while we were there.
It seems more and more families are grouping together to help one another during these tough times.
Posted Using LeoFinance Beta
Oh that's amazing ! I would want to be with my mom during this difficult time since she's by herself. With me at home, she told me she feels less stressed and happier. I heard not being stressed is the key to fight corona :D so that was really a good choice, I think.
Oh wow that's wonderful! Looks like you and your mom will both really benefit from this. Loved hearing that, thanks for sharing with me ~
The investment in gold and silver is still profitable in these times, and obviously the vision of betting on the cryptos in the long term will be even more so. Success with your goals in this new year.
Posted Using LeoFinance Beta
I am actually bit surprised that gold price was rising up last year. Hopefully you'll reach your goals this year too.
Posted Using LeoFinance Beta
It's always good to think about your finances and the variety of options out there. Like you, I am thinking of getting in to precious metals like gold and silver now I have probably over indulged in crypto!
Good plan to get passive income and earn that way, win wins are the way forward!
Hope you get to where you want to be by the end of the year!
Posted Using LeoFinance Beta
Indeed, diversify portfolio can be a good thing (something I learned from my family). I am looking forward to my actual growth this year. See you again in December 2021 :D
Posted Using LeoFinance Beta