A couple of weeks ago, one of my teammates from work asked the following question: What is your favorite day of the week?

His goal was to get to know our team better. There were several responses, but most people said Friday or Saturday.

Those who stated Friday was their favorite day of the week indicated that they enjoyed the idea of knowing they had two days off of work ahead of them.

Those who stated Saturday was their favorite day of the week indicated that the first day of the weekend was extra special.

I didn't know how to answer the question, because ...
a) None of my teammates' responses/justifications resonated well with me
b) It felt disheartened that I might be drudging through 5 days of work and only enjoying 2 days

Image by Arek Socha from Pixabay

What is my favorite day of the week?

After a bit of contemplation and reflection, I figured out my answer.

My favorite day of the week is any day where I have both the time and energy to play a board game.

It sounds a bit childish, doesn't it? But if you would indulge me, I would like to explain why my answer is so great for my family and me.

The daily grind

I work with a great group of people and for a company that respects its clients and employees. That is a lot more than a lot of people can say.

But in the end, I spend my time and energy for the benefit of someone else. I exchange my time for a salary. I exchange a workweek's worth of time that I cannot get back and cannot spend in other ways. Once it is gone, it is gone.

I invest my energy to solve problems for my teammates, my employer, and our clients. By investing energy into work, I forfeit the right to invest that energy into something else. Once it is gone, it is gone.

I truly do enjoy Saturdays and Sundays because I usually have both time and energy. My wife and I enjoyed some of our favorite games over the weekend. But when Monday rolls around, we are usually too tired (no energy) and too busy (there are family and household duties) to enjoy a game. I don't want that to be true for the rest of my life.

What if every day could be gameday?

Forward Thinking Dreams

At this moment in time, I do not have the financial means to work when I want and not when I don't. I have financial responsibilities, including providing for my family.

I can't just take days off from work "just because." I have to be strategic about when I take off. I have to use my paid-time-off wisely. Please don't hear my words as complaining. I know I am blessed, but I also know that I am NOT free.

I am looking forward to something more.

I am looking forward to a day when I have enough income-producing assets that I can work as much as I want, take off as much as I want, and play as many games as I want.

I am looking to a day when every day is a game day, and every day is my favorite day!

Financial Goals

If the goal is to have enough income-producing assets to cover my daily, monthly, and yearly expenses, I need to acquire ASSETS.

With the recent low-interest rates, SAVING money is more like LOSING money when you account for inflation.

I need to study and then INVEST in assets that beat inflation and match my risk tolerance.

These are the steps I am working through:

1. Reduce Expenses/Stay on Budget - A lot of people say that making money is not the hard part. It is keeping money that proves to be a challenge! Part of this goal is to remove some of the extra "fat" so that it can be used to invest in assets but while still enjoying life.

2. Increase Income - The best way to have more money to buy assets is to combine Step #1 and #2. Spend less and make more at the same time! There are several ways to make more money. Ask for raise. Find a second job. Monetize a side hustle. I am grateful for how the #hive community has allowed me to meet great people, be introduced to great projects, and earn extra money on the side.

3. Take advantage of the company-matched 401k plans - I know that not all companies have matching programs, but if your company does, you might want to consider investing. I choose Roth as I want my personal investment to grow tax-free. My companies matched portion does not grow tax-free. If I don't invest in a matched plan made available to me, then I am leaving free money on the table.

4. Dividend producing stock - I have a little bit of money in stocks. I see value in both growth and income stocks, but as I grow older, I know I will want to focus on investments that guarantee income on a monthly, quarterly, or yearly basis. This is one area of my plan that I want to learn more about and grow in.

5. Other Income Producing Assets - A lot of people might allow their minds to drift to real estate. I personally like how #crypto has allowed me to earn (without the headache of tenants) when you take into account staked Hive, token drops, curation rewards, and the new #cub defi, I have several streams of mostly passive income. It may not be much now, but most of us have a bright outlook on crypto, or we would not be here. One of the high risk/high reward elements of crypto is that, relatively speaking, there are not many players in the game, and honestly, the game is still new. There is a huge opportunity for an upswing or a massive flop. Crypto is one area of my financial plan where I take higher calculated risks.

Admittedly, I am a small fish in an ocean full of opportunity. I choose to make decisions (based on my goals and knowledge/experience) that lead to action. By taking action, I might fail. By not taking action, I am guaranteed to fail. Just SAVING is not an option!

Final Thoughts

Sometime in the future, I hope someone asks me What is your favorite day of the week? and I respond: GAMEDAY!

Setting this path is requiring me to give an honest assessment of where I currently am. It is challenging me to think about where I really want to be in life. And finally, it is encouraging me to take steps of actions to get from point A to point B.

And as a dad, I want to instill big dreams and perseverance into my kiddos. The life I live is not just for my benefit. I hope my life will be both an example and a catalyst for many generations to come.

As I navigate my financial plan, I must be intentional about sharing the steps and preparing my children to implement the same. And if I am truly honest, I love spending time with my family around the dinner table, whether that be for a meal or (you guessed it) for game night.

I want to hear from you.

1. Are you able to invest your time and energy into your own goals, or are you working for someone else's goals?
2. Do you want to break out of the 9 to 5, or are you content with where you are? No judgment with either response.
3. What is your favorite crypto that produces residual income? What steps do you need to take to earn that income?

Thanks for stopping by!

@SumatraNate

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