Financial Goals 2021 - An Individual Recovery Plan

Find a Job

Like many people I lost my job during the pandemic. I was a production planner at the time and there wasn't any production happening in my company so I was let go. I was only told that COVID-19 was the reason that I was being let go. Thus the first part of the plan will be to find a good and stable job. If you don't have excess income beyond your expenses then you cannot invest.

Reduce spending

During COVID-19 I have cooked a lot more which has allowed me to spend less money. If you are renting or you own a home this is a good time to find a new place or refinance your home. I was able to reduce my monthly housing cost by $300. This means less expenses, more saving, and more capacity for investing.

Diversify your investment

Spread your investments wisely between some cash, stocks, and cryptos. You need cash because times are unstable and cash can also be viewed as "dry powder". In the event that stocks or cryptos crash you want to be able to take advantage of the downturn. Don't hold too much cash because there is a possibility of inflation because of all of the fed liquidity. I also plan to use crypto as a hedge against cash and equities, but I will focus on cryptos that I think have utility and staying power.

Cryptos I like (NOT FINANCIAL ADVICE)

Polkadot DOT because it connects blockchains together. Ethereum ETH because I think they will keep evolving and stay relevant Oracles like BAND and ChainLink LINK because they connect the blockchain to outside world data like temperatures, car traffic, housing prices, etc Mysterium dVPN MYST and Orchid OXT because they are VPNs Stablecoins for safety against inflation

Equities and Stocks

Emerging Markets and Internationals REITs, but avoid Malls

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