Posts

My Financial Goals for 2021

avatar of @silversaver888
25
SILVER SAVER
@silversaver888
Β·
Β·
0 views
Β·
4 min read

Hello Hivers!

My financial goals for 2021 is the continuation of my goals of 2020!

Five years ago, a become revolving debt-free. And that was the turning point of my life.

Where I Am Today

I keep full insurance, I am maxed out in my available retirement account, and maintain investment in stocks. I have an income property home and have a home mortgage. And oh, I don't have any car payments.

I have kept a minimal $1000 amount in the bank which I have not added or subtracted for years now. I withdraw all monies after all payments are made. I make all purchase in cash, or I use a credit card (with mileage rewards and cashback) and pay off all charges on the card every month.

Emergency Fund

I didn't dip into the emergency fund this year. I will add to my emergency fund bringing the total to an even higher amount. Do I have my emergency fund in the bank? Are you kidding me!

Expensive Habits

I have to fine-tune my expenses primarily eliminating expensive habits.

They say that the 4 biggest expensive habits are smoking, alcohol, guns, and gambling. I don't smoke, or gamble, but I have to examine how much I spend on alcohol and guns.

I count 29 bottles of wine and more unopened Christmas presents. I will stop buying wine unless I need to, unlike before when I would buy even if there is no need to.

This year, I shall not buy any guns either. I do have to make it to the shooting range at least twice this year.

Usual Expenses

I will save on utilities. I have been lax on myself. The TV is on even when I am not watching and the lights are forever on downstairs and upstairs!

Discretionary Spending

I have not been "shopping" for the past three years and buying only work clothes, shoes, and bags. I eat out only when necessary. I make my lunches for work, I cook, and baked my own bread. This year my savings was high because of the pandemic. I have fewer expenditures for meals taken away from home. My gasoline expense was drastically low. I also did not travel this year. Did I increase my investments? No, I didn't. I kept my money in savings.

Savings

This year I am saving for the next milestone. What milestone is that? The next retirement milestone? I am on track. The answer is: No.

I continue to save to have peace of mind should the pandemic not let up, or any type of circumstance.

I am lucky in the sense that I chanced upon stacking videos early on. It gave me a jump start to saving. I save cash in the same amount as I purchase in precious metals.

The Key

And there is no secret other than planning, being revolving debt-free, saving, investing, and being patient.

In Summary

  • Which is going to be your investment strategy for 2021? I will continue with my monthly stock investment and dividend reinvestment in COKE, AMZN, HD, MSFT, TGT, WMT, AAPL.
  • Do you have any specific assets that you want to invest in? Preferred assets? I am invested in myself. I make sure I have the proper insurances (life, health, home, car). I regularly contribute the maximum amount to an IRA. I want to have a secure place to live in, and thus pay down the principal balance of my primary residence as fast as I can. I continue to pay more than the minimum amount required for my mortgage each month with the income property that I have. In seven more years, if I continue on this way, I will pay the balance in full! And I save in cash and precious metals.
  • Do you have a plan or a set of goals on how to use and grow your stake? I am growing my stake a little at a time. I proceed with conservatism on my part. Since I rely only on myself, I protect my earning abilities by trying to be the best in everything that I do at work. At work or in the affairs of the home, I have learned to be prudent and careful not to make any mistake by thinking it over before committing any funds. Then I rely on divine Providence. And so with Hive. I remain very conservative. I have not added a single penny to this account, and exercise prudence in handling the account.
  • May I also add that to the greatest extent possible, I contribute to the Church and Catholic Charities and volunteer my time and effort to feed the hungry and poor.

😍#ilikeitalot!!! 😍

All photos, gif and videos were taken by me using my iPhone6 unless specified otherwise.

https://images.hive.blog/DQmW9YowVJzzJr1obqtTTcHLvdWZHm6CCkKfyFAGbJxkP3J/LadiesOfHive-Divider.png%22%3E

Make it an awesome day!

Thank you for stopping by to view this article. I post an article daily, and I hope to see you again soon!

Hugs and Kisses πŸ₯°πŸŒΊπŸ€™!!!!

@silversaver888

https://images.hive.blog/DQmW9YowVJzzJr1obqtTTcHLvdWZHm6CCkKfyFAGbJxkP3J/LadiesOfHive-Divider.png%22%3E


Join the Ladies of Hive Community and the Ladies of Hive in discord.

Would you like to support The Ladies of Hive Community?

Consider giving a delegation!

25 HP - 50 HP - 100 HP - 150 HP - 200 HP - 500 HP - 1000 HP - 5000 HP

Project Designer: @arcange

Posted Using LeoFinance Beta