FinancialGoals2021 Initiative | This year is all about reaching goals!

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This initiative came at the right time!

Finances and setting goals are currently a hot topic in our household. I'm making a few changes in our lives to make sure we are on top of meeting the deadlines we have set for our goals. I know some other things that seemed more important a few months ago, now have been pushed towards the background for a little while, but that's fine because we know we have to take opportunities as they come.

The current BTC price that keeps growing is a good reason to adapt plans

I'm a person that never bets on one horse, I try to focus on several things at the same time, and therefore I can be flexible when things aren't going as planned. Which, often happens because you know, life...
It's all good though, I'm not having any issues with postponing a project for a few months if our needs change or if this awesome opportunity pops up.

Taking the opportunities as they come is something I truly believe in. Who knows what life throws at you in a few months, we can all relate to that probably after being surprised with the C-19 drama last year (and counting).
Who could have seen this coming in this proportion as it was thrown at us?

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And now we are here, with a BTC price pumping in the $ 34k area, damn what a hell of a ride!!! I was hoping BTC would hit $ 30k before January 1st, but I never ever thought that on January 2nd, 2021, the price would pass 33k dollars.. WOW!

I don't own much BTC, unfortunately, I had to cash out several times when the price was still 9k (ouch) but I'm not looking back, only forward. There were things in real life that needed to be paid, such is life, I'm only very grateful for the fact that we were able to pay this with some "magic internet money!" ;-)


Let's answer some questions

  • Which is going to be your investment strategy for 2021?

Grow the investments by holding, staking and trading

First, investing in different cryptocurrency as much as possible. I will partially hold the funds and partially trade with them. I've made some nice trades last year which were making me see how easy it can be placing a few orders and apply the sell high, buy low strategy. I have to admit, that I enjoy the trading game a lot as there's so much to learn, therefore I use different strategies that will allow me to learn while doing. When I made a profit, I'm more comfortable investing this in a coin that could be tricky, but worth it, compared to moving fiat towards the wallet to do so. I plan on continuing with this path, only with a bit more funds than last year.

Recently, I started to learn more about Uniswap and Metamask which were both unknown territories until then. Anyway, this opened some doors and I'm finally comfortable using them so now there are more coins I can invest in and it gives me more options to spread some funds around as well.

Today I decided to stake the Wise tokens I bought for a little over a year, which is completely new to me. I never thought that at the start of this new year, I'd dare to let a stake mature for a year instead of being able to touch it in the meantime. I will not talk too much about this Wise coin here and save that for another post, but here's my ref link if you are going to read into it!

Take out profits only where needed and as little as possible

Taking out profits will be needed in the near future, but this has all to do with the first goal we set for ourselves: buying a car. It's honestly long overdue, and not even going to be a huge amount we will spend on it, but once we did this, our quality of life will go up by 300% at least :) Meaning this is currently one hell of a reason to take out funds! I do feel I should postpone this as long as possible though, because the longer the money is in crypto, the longer I can make more money from it :) But no regrets once the car will be bought, it will enrich our lives big time!

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Around the same time we plan to buy a car, our work life will change drastically, as my boyfriend will start a business again together with a friend. They have been business partners before and we all know once it's set up, it's with very low risk to do so because the contracts signed by the clients are going to cover the salary. Everything added is a bonus. With this new direction, more income is generated and with that, more money can be invested into cryptocurrency! Nothing from our crypto profits is needed for this step, so this step is eventually only going to add value. That's obviously also a reason that I don't have a lot of problems taking out some profits for a short period, knowing it will be invested back not long after.

Other things to keep in mind

And opportunities that are thrown at us (or not lol) there may or may not be an option to invest in property and land. This one will be on the "list" with goals for this year, but flexible. It all depends on different factors, and how things plan out in the end. If this year it's not happening (could also be because no suitable house is found) then it will have priority next year. I'm comfortable with this flexible game plan because sometimes you just can't foresee how your year works out.

These three points above are the main goals this year when it comes to finances and investing. There will be others too, but I plan on sticking to these steps to reach the goals as quickly as possible.


  • Do you have any specific assets that you want to invest in?
    Preferred Investment? Crypto, Real State, Commodities, Stocks?

BTC

Last year, BTC kept twirling around $10k, and I was quite sick of it that when I could finally invest a bit in BTC, there was little movement. And look at the price today! If I had held these coins, I would have tripled my investment. I can finally see the great potential again, and I'm loving it. These images of BTC with a specific fun price in it, are mostly teasers for me, to remind myself that it's actually possible.

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Needless to say here, is that I believe part of the investments should go into BTC, and even with trading going on, a part of that should always be held. Not sure about the percentage yet at this point, time will tell. I think this is personal and I'm yet to find out what suits our situation best especially as things are about to change this year.

Wise token

As mentioned above, staking this token is something that felt as a huge step to take, but once I did it, I saw the value grow every few hours, and now I only want to buy more :) My aim is to get at least 10k of them.

Ref link

Real estate

Where it felt as if it was mission impossible just a week ago, I now feel quite confident that this is something that may happen later on in the year. It's a very big wish for years, but the time never felt as right as it does right now. And on top of that, within reach! But, if this will be a goal for 2022 in the end, that's fine as well, we'll take it one step at a time!


  • Do you have a plan or a set of goals on how to use and grow your stake?

Depends on the coin

As you have read, I will partially keep some stakes, and others will be used to trade and take opportunities as they come. On top of that, I'm now also a first time staker for a coin that's very promising. I believe this step will open doors for us that have been closed until now.

Let's not forget Hive and Leo, I will keep writing a number of posts a week to grow my Hive stake and as always, the liquids will be used to buy other coins, or save up to invest a bigger amount to buy another coin.

I've a small Leo stake until now, but I do have 1/3 of that in LBI token as well. I hope that I can write a few posts every week on @leofinance to share my crypto journey that has now really become interesting to me that it's actually a daily thing I'm focussing on. There are quite a few good investors to be found here, so I'm trying to learn from those as well.

Price prediction of Hive and LEO in 2021

For Hive, I can't really say what it will do, I have not been too impressed so far, but hopefully Hive will prove me wrong this year! I still won't leave the platform and keep growing my power..

Leo on the other hand, is very promising and I believe Leo will outperfom Hive by miles this year! I think that Leo will be a reason that a lot of new people find Hive, especially with many people finding crypto currently.

Let's make Hive and Leo thrive!!!

Conclusion

I have the feeling this year will be the best year I've ever had financially, and that it will open a lot of doors in many ways.

I'm not betting on one horse when it comes to growing my stakes, but I'm one that's on top of the growth to see if I should change my approach or to see what is going well/not that great.

One hell of a journey!!! Meanwhile...

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Thanks, @theycallmedan for this great initiative. Want to share your goals? Here's the contest post

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