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Too Much Opportunity, Too Little Cash

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@travelwritemoney
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The Paradox of Choice is presenting itself into my personal finances. This is resulting in some mental FUD regarding what I should do with my money. My ultimate goal is to have enough stashed away for retirement that I can draw upon for income. There are so many options these days.

Crypto Options

Hive

Hive is great in that I can earn crypto, Hive is crypto after all, and compound my earnings over time. Inflation rate, yada yada. Rewards. But, most importantly, I can lease out Hive that I'm not using. The current market rate is 16% or so. These rates vary from time to time. The risk is that the price of Hive fluctuates. Also, the interest rates fluctuate based on market demand. I am currently buying $20 in CRO every week.

CRO

Crypto.com is currently paying 16% for staking CRO on my card. CRO deposits in Crypto Earn are getting 18% interest. The risk is that the price of CRO fluctuates. There is also no telling how long Crypto.com can sustain the interest rate. That's no big deal because I can convert and move my money elsewhere. I am currently accumulating CRO from cash back rewards using the Crypto.com card. I am thinking about making regular purchases to reach the next card level.

BTC

I'm bullish on BTC. I think we are all looking at the stock to flow model that predicts $100k BTC. Currently, I can get 6.5% interest on BTC. But, the real win is in capital appreciation. So, it would be good to have a decent stake in BTC.

Dash

I have some spare change in Dash deposited in Celsius.network. I'm not actively investing in Dash. I use it for purchases of Hive and for sending tips to people online. I'm also converting HBD into Dash as savings. I don't earn that much HBD.

BAT

Yep. I'm earning BAT on the Brave Browser. It's not a lot. Just change. This also goes into Celsius to earn interest.

Stablecoins

Stablecoins are earning some mean interest at the moment. This is way better than what banks are paying for fiat. Crypto.com is currently paying 12% interest for stablecoins. I'm not in stablecoins at the moment. However, it's an option.

Stonks

I am currently buying a share or two of an ETF that invests in REITS. The dividends are roughly $1/yr each share. My thinking is that I could buy 1000 shares and have $1000 in annual income. I'd be giving myself a raise. Shares are about $8 each at the moment. I could afterwards buy individual REIT shares and sell options on them. Heh heh, collecting rent on rental income.

Income

The problem is that I have the one income powering all this. I don't want to be over diversified. However, I don't want to have meager amounts in a bunch of different baskets either. I think I may be better off picking one or two investments and piling in as much cash as possible. But, which one(s)?

To be clear, I don't think I should only have one investment. I mean, that I should only be contributing to one at a time until I reach a goal, then move on to the next. Like the ETF I mentioned. If I focused, I could have 1000 shares. Stop. Then choose another investment to focus on. I could do the same with Hive, build up my HP to maybe 10K and then move on to something else. What is really interesting me at the moment is the Crypto.com card one level up from mine, the Icy White. At today's price, it would take $16k to level up my card, which earns 4% cash back. It's not so much the card that calls to me. It's that between now and $16k, I'd be earning 16-18% along the way until I have enough to level up. My hesitation is that this would require a long commitment. I don't have $16k to whip out all at once. However, if I did select that, my investing would be simplified for a while. If I invest in something else, then that long commitment would only be postponed.

One thing I haven't mentioned is that a good chunk of my income is going towards paying down debt. If I divert some of that to investments, at some point my interest cost and interest earnings will meet in the middle. I have some wiggle room in how aggressive my investing can be, in other words. This factors into my decision as well.

This is what is causing me a bit of anxiety in my personal finances. There are too many choices for where to put my money. Should I pay off debt, buy crypto to earn interest, or buy stocks to earn dividends? Too many choices, too little cash.

Posted Using LeoFinance