Exactly 1 year before I have created the Financial Goals 2021 Initiative - Plans, let's review that financial plans and see where I stand as well as what has achieved extra in the whole year.
The Goals of 2021 which I have created are as follows:
Do not take a loan - Now a lot of people will argue that this is not financial planning, but for me o for many it is. The loan is a debt and when you have an active loan your financial planning disrupts a lot as because you always think of getting rid of that loan. So my first and foremost planning is not to take a loan in 2021.
This stand completed, I have not taken any loan in 2021 and I am debt free for the whole year. Though I have used all my emergency funds for doing some investment, so I need to improve my emergency fund now. It feels good to be debt-free for the whole year when you were actually in debt for 7 years.
Increase my Mutual Fund Portfolio by 20% - In 2020 it was a good year for Stocks as some of the stocks gave around 100% returns in 1 year and thus since it's very hard to pick individual stocks it's better to go for Mutual Funds route, so my goal would increase my portfolio by 20%.
This stands completed too. not only 20%, but I was able to increase my portfolio by over 30% some because of extra investment and some because of great returns by some of the mutual funds. But even if I remove the returns, I was able to increase my portfolio by over 20% just by investment. And the long term looks good for me if I am able to continue investing in mutual funds.
Increase Emergency Fund - As of now I have an emergency fund of 1-year expense but since I have my ailing parents, I would be thinking of increasing that amount to 1.5 years to be on a safer side, but this will be done after I have done the 2nd point.
This is not done as well as my emergency fund is been reduced than what I had 1 year before. I need to work on it in 2022 to first get to the point where I have a 1-year expense like an emergency fund, then I have to increase it to 1.5 years. This will be a little tough but will try to give it a priority in 2022.
Taking Term Insurance - I was neglecting this for 4 years after I get married but covid has shown us that life is too unpredictable, so since it's a long due I would be completing this for sure in 2021.
This is completed and I have taken term insurance in 2021. This is one which is I am proud of that I have completed it which should be done quite early. Not it's good that I was late than never.
Investing FIAT in Crypto via SIP - I have done my last major investment in crypto in 2018 but after that, I have not sold or bought from FIAT, though the price seems to be on a higher side I would be keen on investing via FIAT to some ALTS like XLM, HIVE, ADA etc.
This is going on, though I was not able to invest too much FIAT slowly and steadily I am increasing my FIAT investment in Crypto via SIP.
So these are the financial goals that I have set for myself in 2021 and as you can see I have completed 4 out of 5 goals, i.e. 80%. Not bad I would say.
Additional Goals Completed
Hive - 12700+ Staked, it was no way better than most of the hiveans out here but still I am improving daily. I think it was a good achievement in 2021 and with a hive price of around 1.5$, this is my topmost investment in crypto.
HBD - 200+ in savings and earning 12% interest. Yes again, this was not in the goals for 2021, but still with the interest coming into the picture I have tried to get to this amount in like 3-4 months before and I am glad that I have completed the goal.
LEO - 1400+ Liquid + Staked, this is again I would have liked to get much more but still not bad to have 1.4K LEO tokens. I guess in the mid of 2021, I have created a goal for myself to have 1K LEO token but I have exceeded that amount and I am proud for that.
STEM - 1150+ Staked. Just like LEO I have created the goal in the 2021 to have 1K STEM staked, but I have exceeded it to 1150 which is again good.
Starbits - 1,000,000, this is the newest achieved token. I have become the Starbits Millionaire just a day before Rising Star - Starbits Millionaire.
That was my Financial goal of 2021 and where I stand. It feels good when you actually complete most of the goals of 2021. and again since we are improving daily, it's good to improve the goal too that's what I have done and thus now I have exceeded the expectation which I have set for myself 1 year before and that's I feel good.
Where do you stand on your Financial Goals for 2021?