Coin clinking
I did a stocktake of my metals today; There was much coin-clinking and thunking sounds of bars...I felt like a pirate counting my hoard but...
I'm completely over 2020...It hasn't been as difficult on Faith and I as it's been on some and Australia missed the worst of it however it has affected our investment and savings plans.
We diversify into varied investments, metals being one; It's nice to do pirate-coin-clinking and it's a legitimate alternative to holding paper money which could end up being coloured toilet paper at some stage thanks to hyper-inflation. (Just around the corner y'all, just saying!)
We have a financial plan, a budget we mostly stick to and a savings and investment strategy that, thanks to 2020, was derailed; Income reductions made it impossible to purchase metals. The spike in demand and lack of supply didn't help and this meant we didn't buy much at all. We're behind our goals now and will have to make it up somehow in the coming year.
A couple years ago I started a silver buying club at work and in the years since we've totalled many hundreds of ounces in purchased silver between us all. It's all bought and owned by the individual but the group-mentality of it kept the purchase-momentum going.
At home we use the spreadsheet and automated bank transfers to our metals account and our crypto account for that matter, to keep things on track; Losing twenty percent of my income slowed it to a halt this year though and we've been strategizing on how we can make it up plus keep up with our normal purchasing rate in the new year. It will not be easy.
We don't know all the ins-and-outs of investment or whether our strategy is sound and solid. I've spent twenty years in the property industry so have a very strong understanding of it and we have financial and investment advice from our accountant and financial adviser but who really knows right? Who predicted the year 2020 would play out as it did?
With 2021 only a couple of days away there's talk of it being a better year but I'm not convinced a date change will make any difference at all.
Will the vaccine help? Maybe. Will the money markets, unemployment rate, company and business failures and our countries' deficits all magically rebound? What will BTC do, and hive and the other alts?
Time will reveal the answer but for us...Well, we're belt-tightening, restructuring (even more), focussing on investment and savings and strapping in for what could be an interesting year...And looking to add to our pirate hoard.
What about you? Have you any thoughts on what the year may hold for you financially? Have your investment strategies suffered in 2020? Will they suffer or rebound in 2021? Have you been able to maintain your strategy or have you made adjustments and most importantly, did you do any pirate-coin-counting?
Design and create your ideal life, don't live it by default - Tomorrow isn't promised.
Be well Discord: galenkp#9209
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