MY FINANCIAL GOALS FOR 2021 [ANSWERS THE WHAT AND HOW QUESTIONS]
A Happy new year everyone
image by @tripode
What a year 2020 was, I had a rough one but 2021 will be simply better. 2021 won't get better just by doing things the same way it was done in 2020. A change of approach and a carefully selected strategy has to be employed.
Well, I have my financial goals set already, and thanks to @theycallmedan "#financialgoals2021 Initiative | Share your plan to grow in 2021", you all will know what they are and how I intend to achieve them. Click here to learn more about the initiative.
The post was supposed to provide an answer to any of the questions listed in the image below, but my post cut across all.
I started this year with a zero bank balance and I can't say it was entirely my fault but I knew I had to challenge myself more. Setting goals is easy but the work is hard, so I had to be extra careful not just in laying down the goals but the strategies to accomplish them. So I had set a goal of having $500 as my bank balance come the end of 2021
Preferred Investment? Crypto, Real State, Commodities, Stocks?
What my investment preference for a while now has been is cryptocurrencies and In 2021, I intend to continue with that mindset. Real estates and stocks are nice options but they have never crossed my mind before. Commodities seem like a great option too but I will be settling for the crypto world. So without any iota of doubt, I will be fully focused on investing in cryptocurrency
Which is going to be your investment strategy for 2021?
My investment strategy for the year 2021 is going to be income investing. Thank God for DeFi's introduction into the cryptocurrency space. Achieving this seems easier than it uses to be a year ago.
My focus will be Investing heavily on coins that allows for staking, farming and also makes one eligible for dividend just by hodling them. The reason why I am sticking with this income investment is to help me build wealth.
Do you have any specific assets that you want to invest in?
After testing the waters of numerous crypto assets late last year, I have some coins which Seem very interesting to me. Most Binance Smart chain [BSC] tokens allow for wealth generation but some specific ones caught my attention the most and they are;
- CAKE
- BAKE
- ALPACA NFT
The mentioned coins allow for staking, farming, provision of the liquidity to the liquidity pool, and also they are undervalued at the moment. By either staking or farming them, I tend to get more of them in my wallets, and that's why I have set my eye on them.
Cake provides the most options and it's funny to think it's still worth below 1 dollar at the moment.
Also on the hive blockchain, I have my eyes set on;
- LEO
- Hive
- CTP
All three coins are greatly undervalued at the moment and they are very limited at the moment. With massive use cases, acquiring these coins at the present rates is a steal.
Do you have a plan or a set of goals on how to use and grow your stake?
I have two concrete plans on how to grow my stake and although the two plans have different requirements, they will be utilized together.
The first plan is to grow my stake by buying more of the coin when its values are low and staking them. This though will be only be requiring my money and that's why one of my new year resolutions is getting a full-time job. Funds gotten as salary from the job will be used to execute this plan. Also the coins I will be buying will be Binance smart chain Tokens such as CAKE, BAKE AND ALPACA. Also, due to the low price of Leo and Ctp, it will be the only hive blockchain tokens I will be buying with cash.
The second plan is to dedicate more time to the hive platform and the second layer such as Leo and Ctp platform. I plan on writing at least two posts in both communities while also making sure that I get to make nothing less than 500 Comments monthly. Then, rewards gotten from either curations or posts made will be slipt in a 70/30 proportion.
70 % will be staked while 30% will be held in cases of personal emergencies.
Also share your prediction for the price of Hive and LEO in 2021
Lastly, I am not much of a crypto analyst although I am a financial analyst by educational qualification. I will say that with the pressure the crypto market has been experiencing the past few days, it's normal to expect an outward shift in the price of Leo and give due to the use cases.
On that note, my predicted LEO token price before 2021 checks out is $6.5 while hive should be around $0.9 since the growth of one will ultimately affect the other.
That's my financial goals for the year 2021, I hope it's worth your time. Thanks for reading and dropping a comment.
Posted Using LeoFinance Beta
