With all the things that went wrong in 2020 - getting hit by two hurricanes, COVID-19, going through a reorganization and partial sale of the company I work for, and getting money stolen out of my wife's car - I have to admit, I was able to hit most of my financial goals.
Maxing out my 401k and HSA
My first goal of 2021 is to keep contributing to my 401k and my HSA so that I max both of them out. I was able to do this in 2020 and don't see why this shouldn't be another goal for 2021 as well.
After all, the company matches up to 6% in my 401k and I get a $2000 "bonus" in my HSA account at the beginning of each year so it's definitely worth having them for the "free" money that I receive for participating.
The only issue I have right now is what do I invest my 401k and HSA contributions in? Since it's handled through my company I'm limited in my options of where I can contribute this money and unfortunately, can't put it all in Bitcoin, Ethereum, and Hive.
Buying Another Investment Property
Rental homes are pretty hot right now as a lot of people are still displaced because of the hurricane. We are looking to close on a rental property at the end of next week sometime and should have no problem filling it with a renter.
If all goes according to plan we should be able to make a nice return on it over the next couple of years, so as long as everything goes to plan, we should be able to purchase another rental property before the end of the year.
Growing my Crypto and Splinterlands
Bitcoin is currently 61% of my portfolio which is a little over my goal of having Bitcoin as 50% of my portfolio. I'm ok with it being a little larger as once it hits $40,000 I'm going to be selling a small portion of Bitcoin for USDC and Ethereum. My long-term goal by the bottom of the next bear market is to own 1 Bitcoin.
Hive I don't have as much of a portfolio percentage that I'm shooting for as much as I'm shooting to end 2021 with at least 20k Hive Power. I've been shooting at doubling my HP every year, this year I should have ended at 10k, but since Hive has been so weak and Bitcoin has remained so strong I've decided to wait until Hive starts showing some strength before I sell some Bitcoin for Hive.
Since I ended this year with around 1k LEO I'm going to see if I can start doubling the amount of LEO I have every year as well. I also want to sell some WLEO for equal parts ETH so I can learn how to provide some funds for a liquidity pool to continue to grow and diversify my liquidity income.
I'd also like to start stacking some other random alts and have around $100 - $1000 worth of exposure in each, for if/when they moon. Stellar Lumens, Uniswap, Chainlink, Thor, and Unibright are just a few I'm looking to stack for this bull run to hopefully flip for more USD or BTC.
I'm not sure if I'll be able to do this one, but it would be nice to increase my rental income from Splinterlands from $0.05 - $0.10 on average to over $1. I'm not sure if this is possible as I don't want to invest a bunch of money in 1 card and would like to distribute this rental income over multiple cards, but it's a nice goal to have. After all, $300 - $500 of passive income from renting Splinterland cards has a nice ring to it.
My Ultimate 2021 Financial Goal
Is to hold on to as many gains as possible by either securing them in Hive, Bitcoin, or USD. With the S&P 500 continuing to push through all-time highs and crypto doing the same, I don't want to watch all my gains disappear during the next bull market.
I've been constantly taking profit these past few months (1% or less of my portfolios) and researching other cryptos and investment opportunities that are "cheap" right now.
One area I've been doing some research in is collectibles. I'm not sure if I will put any money in collectibles this year, but as the value of the dollar continues to fall, this seems like it may be an area that has some room to grow over the next few years if I can find the right niche. Seems like thanks to Jake Paul, Pokemon is out of the question so maybe Magic the Gathering or sports cards are in my future.
Thoughts on What's Currently Cheap
I've been watching a lot of YouTube videos and open to some ideas on where to expand my investment portfolio. I've also heard that a few emerging markets may have some opportunities in the short term (2 - 5 years), but am open to suggestions on where you think the opportunities will be for this year.
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