Over the past year I have been diversifying outside of the Hive eco system creating passive income streams in other Crypto related projects. More so than ever now I believe this is the right and only call as the economy has one big question mark hanging over it's head.
My Pension is tied up in the British Pound which for so long has been great being valued at 25-30% more than the US Dollar. I am sure the British pound will bounce back even if it takes a year or two or five as it has been up there for so long this surely must be a blip.
What if it doesn't and this is now the new level as suddenly my pension that I have been banking on has lost a good 30% in buying value. I have always looked at the Pension as something extra and not a definite I can rely on as who knows what this will be worth in 30 years time from now. I don't plan on leaving this place anytime soon and have some decent genes.
Crypto will keep me young as it does keep you busy and on the ball with so much going on. If I ever "retire" from business there is the Crypto to keep the mind and body active.
With that in mind the passive income streams are becoming more and more important as time goes on with the world forever changing. The certainties are no longer certainties and surprisingly enough the only certainty I see is that Crypto will flourish.
My initial plan was to have the 10 passive income streams generating $25 each totaling $250 per month. Not a fortune by any means, but a starting point to launch when the prices rise. This however is not easy to achieve and after only 9 months of the year I have one of the streams generating almost $30 per month. Not bad considering the price is down almost 90% since last year. The problem is the idea of finding 9 more just like that.
Over the next 7 years the aim is now to have at least one addition to the stream each year. This is more realistic as the effort to get the one up and running has taken longer than expected. the urgency and desire is not the problem, but finding the right project to stake into is. In the meantime I will grow the one and that can help fund the next stream once it has been selected and so forth meaning the last few should be far quicker to achieve. This is how I can achieve what I require far quicker knocking off one at a time using the resources that are being generated.
The thoughts running through my head are that if I can replace my current pension then the pension becomes the passive income. This is what I think may be realistic as what Crypto offers is far more than we can even imagine. having an income of $250 could easily turn into $5000 and that is probably undervaluing those projects.
