My Financial Goals for 2021
This is my entry for the 2021 finance goals Initiative from @theycallmedan & @leofinance, read more about it here.
A side note: One can have the best goals or intentions, but no plan on how to achieve them. So one has to check regularly if the goal has a plan associated that is actionable. If not, the plan has to be adjusted, if that´s not possible, the goal needs to get changed!
Global Situation in 2021
I think especially in 2021 a lot can happen, from a massive post-Corona boom accompanied by strong economic growth, to an almost dystopic scenario with enforced surveillance (mandatory "contact tracking" apps etc.) and further restrictions on people´s fundamental rights (all justified by a supposedly dangerous virus). So the smart investor needs to be flexible! In any case diversification is still a must. E.g. for the worst case scenarios it would be prudent to have gold & silver stacked (secretely of course, physically and not in a bank "safe").
Bitcoin
2020 was amazing, but 2021 won´t go on like it, at least not without some setbacks. We just saw how fast it can go (from 33K to 28,5K in few hours). Not sure yet when to accumulate more, when it goes back to 25K? If it ever reaches 20K again, for sure I will buy more. Anyway, even if the runup continues, my overall goal for 2021 is to keep the same number of BTC I do have right now and round up to a full number of BTC (just 0,1 BTC missing for that). Most difficult will be to resist selling when mooning further, but also to resist panic selling (in this I am good already😄)! Did I tell you that I started trading BTC in 2013 already and bought my first full BTC in 2016 for 370€? Well, I also sold my first full BTC in 2017 for 2100€ already and at that time it seemed a smart decision.
Gold & Silver (and other "crisis assets")
For 2021 I don´t plan to buy more gold, silver or other precious metals. I have accumulated over the last years some gold, plus a tiny amount of silver (for some reason I don´t believe the people who predict silver will soar massively). But in any case my goal for 2021 is to not sell any gold, even if the situation goes very south (the pros know that gold is for after a crisis, not during one). Speaking of it, I am storing also other stuff like lighters. Just in case.
Altcoins
No big plans for Altcoins in 2021 for me. I have a few ETH plus some shitcoins (NEO, LSK, Siacoin,...) and will just keep them. Or swap them into Bitcoin if there is an opportunity. The ETHs are the only ones I will keep, for some liquidity pool stuff 😀 just in case if there is something irresistible coming.
Stocks
As I have mentioned in my recent post about how my last stock picks were doing, I believe the year 2021 will be good for stocks, so I will continue to put money in this area. The 2021 goal is to increase the net value of my stocks by 50% largely by using a certain percentage of my day job´s earnings to invest in growth stocks. I try to achieve this by keeping a saving quote of app. 30%. The ROI on the stocks should be better than in the recent years (if no new economic crisis will hit, that should be doable), but I don´t set a goal around this (too much guessing). Any dividends will be reinvested.
Bondora
In case you don´t know Bondora, that´s a company where you can lend your money and get 6,75% interest rate (called "Go&Grow"). The good thing is that the interest is payed out daily and you can withdraw your money also daily. So almost like cash. My goal is to increase my funds there by 20% until the end of 2021.
Cash
If some stock plunging happens like last March, using cash to buy up cheap stuff can be very rewarding. Also there might be some other (personal) misfortunes where cash is king. My goal is to have at least 2 months net salary as cash reserve in 2021.
Hive
My goal for 2021 is to become a Triple Orca by just organically growing (i.e. without buying any Hive from exchanges). That should be easily possible since I get >1000 Hive per month from curation and leasing out alone and I miss only about 8000 Hive for this milestone. However, since I also want to get more LEO staked, not all the Hive earnings will be staked to HP like in the past years. My other goal is to NOT power down Hive. But if there is a good reason for it, then so be it. As mentioned, one has to be flexible and anyway goals are not a bible.
LEO
Currently I have 10650 LEO staked. By end of 2021 I want to have 20000 staked, without buying from externally (using ETH on Uniswap or freshly bought Hive)! That is quite ambitious, I know. For this I will need to delegate much more to @leo.voter, write more finance stuff, engage more, buy some LEO on Leodex and last not least reinvest all the liquidity pool earnings I will get throughout the year. Also it depends how the LEO price develops. If it continues to decouple from Hive like now, it will be not feasible, but lets try it nevertheless.
Other assets (bonds, investment fonds, ETFs, real estate,...)
Not for me! Others might be super happy with those, but I don´t like them.
Summary
- Keep/accumulate BTC
- +50% in Growth stocks
- Keep some cash
- 150K Hive Power
- 20K LEO Power
Posted Using LeoFinance Beta
