It's still early in this new year, and I think I need to put on paper, my plan of attack.. that is, how I plan on making an income from hive as well as my other investments..
I was saddened to learn that HBD, my favorite coin, has a new LOWER APY of 15%, instead of the 20% APY .. where it used to be when I stopped posting at the end of 2024. (i was super sick)
But still, its all good and HBD still blows away any bank of etf or index, etc and I still plan on making it a corner stone of my investing / income plan. Let me see now.. a 15% annual yeield means a monthly result of (15 / 12 = ) 1.25% result of total cap on HBD, per month. So, for every $100 in HBD I have in savings, it yields me $1.25 in income. to make that result worthy of reality, if I had $1000 in HBD, the monthly yeild would be $12.50 and I would need $10k in HBD (savings) to yeild a realistic and useful $125 each month. This is based on a certain amount of HBD simply held in savings.. NOT actively traded on the hive internal market, which would hopefully yeield a much higher APY.
The main expense for me right now is my credit card debt.. now at $1050. The APR of that card is 29%, I think. My minimum each month is a manageable $40., although I know most of that is just paying off that $40 interest on the loan and NOT really paying down the principal at all. Still, if I build up enough HBD to yield an extra $40 a month.. that would take care of that debt as well as be building my income from HBD.
and what about other investments? There are some stocks I want to invest in. (brkb and nvdy) as well as I want to start stacking gold and silver coins. These can wait though as I think paying off my credit card is the most important way to better my overall income, by lessening my expenses. (thanks for the financial education rich dad, poor dad, and cashflow game.)
image from pixabay
