Surviving household, backup plans and finding my feet

The past 6 months have been quite the experience for me. I took my first step to start a family by getting married, renting a bigger flat, and even bought a car.

On top of all that I mentioned in the previous paragraph, I have also been able to sufficiently provide to cater for all our needs. Of course, we're still a small household but the best part is that while still doing all these, I've been investing and diversifying our portfolio as well.

At this point in time, virtually all our earnings come from various sources of passive income. In our small household, we have roles to fulfill and I'm the one that's in charge of all the accounting and background money-related stuff, while my wife manages it. So it's basically like front-end and back-end type stuff.

Anyway, the point is that virtually all our income for the past six months has mostly been from passive income. To put it plainly, staking rewards is our source of income.

Need to back it up

I've always thought about investing in a physical business but our plans to relocate to a different country always prevent me. However, if things don't work out, then we'll start considering it.

These days, staking rewards have sufficed to provide for us and while it feels safe, especially due to Nigeria's standard of living, I don't think it's ideal to continue depending on it.

On the blockchain level, I'd rather hold my staking rewards, rather than sell them. I like participating in the governance of platforms and putting back my staking earnings is a nice way to do it.

Secondly, crypto is volatile and the market is kind of crazy. For that reason, it's not safe to completely depend on it.

Right now, we're 100% dependent on crypto to survive and that's both exciting and scary. It's like living on the edge of a cliff because one minute you're on top of the world and the next minute you could be plunging to certain a rocky certain death.

Need to double up

I'm always cautious with crypto investments but that's only because crypto is very volatile. In reality, crypto is all I know and all I've ever depended on, so I'm also all-in on crypto.

That means that my approach requires a balance between cautiousness and reckless abandon. Right now, I think I'm around 65-35, with the higher portion being investment and the other being stables.

I'm thinking of making some slight adjustments to my portfolio by increasing the percentage of investments. This riskier approach should ideally lead to higher rewards/loss but I'm good. I believe that in case of trouble, the smaller fraction will be enough to lay low until things get better.

My plan is to adjust my portfolio to something like 80-20 with the higher portion being in staked tokens, NFTs, and a bunch of coins. I think this approach will pay off in the near future, especially because I have a safety net in place.

Do I need a job?

I want to get a job outside Nigeria because right now, I don't think I'll even be employed by anybody in the country. I'm turning 30 next year, and have no official work experience that legacy companies require.

However, I think I'll be able to cut it in most fintech startups because I know what they do. I'll require some guidance but it's something that I can easily adjust to.

So, yeah, "need" is a strong word because I'm largely self-sufficient and earn more than what most companies will pay anyways. If a job comes along, I'll take it but it has to pay me more than I currently earn.

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