My Financial Goals 2021
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.
Thanks @theycallmedan and @leofinance for sponsoring this contest.
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.
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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.
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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.
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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.
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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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https://twitter.com/GnikSivart/status/1346661283853119490
https://twitter.com/GnikSivart/status/1346661440908894215
Nice strategy for maximizing your portfolio by at least 1% is a good way to earn passive income and with time it'll keep growing
Since You plan to double your Leo investment.
You might also try to look into Ctp token and sports too. They both have a potential to do well with time
Just a suggestion though
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Love the post. Gives me ideas to what to invest regarding crypto. I do like to mention your thoughts on splinterlands rentals that the up coming land expansion will also be another way to earn passive income. Although now it’s late to get in cheap I hope you already bought a few.
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Great goals and for sure if your company is matching your 401k it's very smart to invest that matching at max. It's legit 100% free money in your pocket and it helps out. If invested right it can even bump your retirement fund faster. The only downfall of this however is you can't access the money without fees and penalties till you're an old fart lol. It's why personally I never did over the matching amount.
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Sounds like a solid plan. I am also looking into some money into my property so I can let it out for some extra income. As regards crypto, I am waiting for the bull run to end. I think j have missed out on this one. I wait for the next cycle
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Can one max out their 401K and HSA every year? I am not for the Us, so I dont know how it works xD
But solid plan my friend!
You've started very well hope you achieve all your set out goals this year do stay safe 🙂
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Nice goals. Best of luck achieving them.
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Weldone, you have a great plan. And with your experience I know that achieve the goals are in absolute control.
About the weather conditions, I hope that this year brings a favourable weather condition.
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I like these well thought out strategies. Rental Income is always a winner. The housing market here is crazy expensive though!
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I am sure, you'd get a lot of good suggestions from the community which might be a learning for you, but to be honest, this post has opened many doors to think and act, at least, for me.
I'd like to say that this post is a very well written and with a nice flow.
Have a nice day
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Sounds like a solid plan to me - when I was working full time it never crossed my mind to stop payments into my pension scheme as the government more than doubles those contributions!
I invested in a small emerging markets fund around 5 years ago, through Fundsmith, it's had a weak performance compared to the regular US/ UK stocks in the main Fundsmith fund, but maybe now is the time for Emerging markets.
It's a tough one to call going forwards where to put your money - so much more uncertainty with Covid/ money printing/ major companies stocks having gone crazy.
I'm looking at HIVE as a buy now, I honestly can't see it going much lower!
Then again what do I know!
I'm also thinking 1 BTC might be a pipe dream, but I've got a reasonable chunk and some ETH so I'd rather see it carry on upwards!
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Nice plan keep it up
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Great goals, @gniksivart (especially buying another investment property).
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Regarding cryptos, two coins I think are undervalued are $ADA and $VET.
I have provided more details on my financial goal plans.
I wish you success with all your plans!
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Hi!
I understanded what your financial goals are and thats a goal for me because finance on English always have been a challenge
Right now i'm seeing social currencies bakced on roll and theress some interesting proyects there!
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You made real estates investment look interesting. Never have I considered investing in real estates before now. even when creating my financial goals for 2021, I made mention of not even considering it but I am second guessing now
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Oh, what a surprise to see a Chandra in funko pop. I'm such a fan of magic th gatering, that sometimes I have to uninstall the program to stop my addiction.
Since my beginnings in Steem, I already knew Splinterlands, I know it's a game similar to Magic, but I didn't want to add more of my playfulness to it, haha. But I wish that Splinterland keeps developing even more.
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You have studied your objectives very well and I hope that this year you will achieve them and that your finances will increase significantly. I am just starting out in this world, I have studied the market for months and received some advice but as the saying goes, practice makes perfect. I hope to start off on the right foot and in the near future I will be able to publish my progress
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Very nice post .. I hope you achieve these goals as you have done in the past. I will go and do my research on HSA. I wish you luck in this year
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Sorry to see you hit by some bad luck this year - hurricanes are waaaay out of my life experience! Gutted HIVE's stayed so low whilst BTC has gone up but I'm sure there is a silver lining somewhere.
I havne't got into splinterlands yet but I'm enjoying DCITY, so I'll keep trying to figure out how that works I think.
Good luck with the investment property - we were going to but I can't be bothered trying to figure out our finances. If BTC goes up to 150K I'll be fine anyway, or at least reasonably okay.
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Hi mate, if you are looking into #HIVEGames, please have look at the other ones. A good one and simple to stack profit is dcity.io, but some prefer others. I have a pinned post on my feed about many of them. That, by the way, needs to be updated... TODO
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Excellent financial goals and strategies for 2021, I like the idea of using bond money to invest.
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