It's always good to look at your finances on a regular basis and set goals each year. This is something I always do and I was excited to see @theycallmedan post for the #FinancialGoals2021 Initiative Financial literacy is something that's not taught. So any project or initiatives getting people to better their financial positions and knowledge I will support.
In 2020 I had hit my initial goal of 10K so midway through the year I updated my goal to 20K. However, I did not reach that goal. He main reason was I decided to invest in @dcity to create another form of income. Therefore, I will set my 2021 goal to 20K hive which will be updated mid year as I plan to move some BTC gains into Hive which should put my past 20K pretty easily. I think my year end goal will be 30K, but we will update that when we cross that bridge.
I had a 2020 goal of 1K Leo which I was able to surpass as I'm currently sitting at 1,226 LP. My 2021 goal will be 5K as I will be spending more time on the Leo platform.My reach goal would be to have 10K Leo by the end of the year.
My goal has always been to own 1 Bitcoin and hold it on cold storage for retirement. My 2021 goal will be to continue that journey even as Bitcoin has skyrocketed. I'm also looking diversify into other coins that offer staking (ALGO) or baking (XTZ). Long term compounding is the best way to create wealth. The 2020 goal is to accumulate $1K of both coins.
I did a lot of day trading this year and I was able to pay myself daily out of that account. I did make a few bad trades at the end of the year that set me back. My 2021 goal for my trading account is to continue to draw $50/day off that account.
I'm also planning and accumulating more long stock to create dividend/capital appreciation account. I will not be trading these stocks I will be buying and holding.
Retirement (ROTH IRA/401(K)
I'm currently maxing my ROTH IRA and at 14% into my 401(K). I increase my contribution by 1%. So with my employer's 4% match and my 15% I'll be up to 19% retirement accounts.
We have about 3 months left on our last car. Once that's complete I will be investing 25% of that money in my trading accounts, 25% will going into the new car fund, 25% will go to the house and the last will go into cash savings. Every year I increase the amount we pay on our house. In 2020 I'm looking to add another $75-100/month.
My Prediction for HIVE and LEO
With institutional money flowing into into Bitcoin and it has validated Bitcoin and cryptocurrencies as an actual asset. We have known this, but we are early adopter. I got involved in 2017 during the retail FOMO, but this time is different. As Bitcoin continues to increase investors will look to diversify into smaller alt coin hoping to recreate the early day gains of Bitcoin. During this period I would expect Hive to trade $1-3 and Leo $4-7. These are conservative estimates because i would not be surprised to see double digit numbers if we are able to attract jutt a tiny fraction of that institutional money.
Have a safe and happy 2021,
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