I'm a self professed financial muppet. In British slang, a muppet is (according to the OED) in part, “someone enthusiastic but inept; a person prone to mishaps through naivety.”. Yeah, I'm that person screaming buy (or sell) and getting emotionally involved, although I've come a long way since my early muppet days. So the thought of writing a post about finances on Leofinance is horrifying for me.
But I'm a huge believer in joining in to support projects on HIVE that are worth supporting, so here I am. I have no real idea what an 'investment strategy' or an 'assett' might be in finance speak, so do forgive me as I answer the questions posted by @theycallmedan for this challenge. However, simply writing down a few goals can help manifest reality, so I'm in.
Shedding my financial muppet for 2021
Actually, I'm not THAT dumb - I do myself a disservice here. I can do anything I put my mind to - it's just I don't or haven't given it as much attention as I probably could. Maybe that can change this year.
Which is going to be your investment strategy for 2021?
Some argue that paying off the mortgage is a fool's errand because ultimately, until you sell the place you don't have 'money in the bank' so to speak - the bank has your money. If the financial system as it stands collapses, then paying off the mortage for years was a dumb idea in the first place.
However, we are so close. We were very close to paying it off - only thousands - when we took this year off work. Due to buying a passion project - a 130 Landrover - and, well, surviving, we're now quite a bit in debt again. Not enough to cry over, but being so close to the mortgage free goal, it does make me feel a bit sad. We'll both be going back to work this year, as it's the fastest way for us to earn money, and we will have it down to zero by the end of the year if we're smart enough.
Dad always, always said that the only way to earn money is to work for it, but I'm not convinced. Of course you're going to say that if that's what you did all your life, and you don't want to regret anything. However, we earn good money as teachers in Australia, and that pay cheque is going to get us where we want to be.
So what's the answer?
Hive? DAMMIT. I BELIEVE.
And that goes for associated dapps, front ends and tokens.
Do you have any specific assets that you want to invest in?
Don't laugh, but we have 'invested' in a few Landrovers. No, they are not lambos - but they are still worth something, and they have gone up in value in the last few years, especially as people have got into lockdown dream projects. We bought a Series 2 Landrover that we'll do up and sell. Either that, or sell the Series 3, which after we restored, should sell for around 35K. Either way, these cars are NOT devaluing, so if we decided that we no longer enjoyed restoring old cars, we could sell them all for about five times what we restored them for. Of course, this is not including what time is worth, but as we enjoy doing it, that's not really a big issue.
We did think about buying an investment property, but prices have gone up hugely around the coast as people leave the cities, realising they are better places to be in world events like the pandemic. I'm not willing to work for the next ten years to pay off another house and I can't wrap my head around negative gearing, rental markets and so on. It just gives me a headache.
We're Gonna Moon, Baby!
Preferred Investment? Crypto, Real State, Commodities, Stocks?
I've learnt a lot about crypto since I've been on HIVE, and I'm proud to say I have a small portfolio, mainly a few altcoins I'm hodling that are worth almost nothing, so not worth selling. I've been really enjoying learning about it from places like LeoFinance and there are a few crypto bloggers here I really appreciate - in fact, it's the first place I go to for crypto news. You also get to know the people behind the blogs, so there's an element of trust there, and get to speak to real people.
So I have to say that it's crypto that I think is the best investment. If BTC truly is going to go up to 150k - 200 k as some are saying, then that's an amazing investment. It's probably naive of me, but I think even if it settles around 20k I still would have made a small profit and I'm happy with that. But I don't think it will.
I'd love to invest more in LEO,but I'm such a financial muppet that I have no idea where to start. and I'm just figuring out how to do that.
Writing this post is slightly scary - people will find out how little I know. I don't know much about financial investment, but that I'm willing to learn. Financial advisors always welcome - my Discord is riverflows#4691. I'm also holding onto my LOTUS, of course, the currency for www.naturalmedicine.io. Recently, there's been a few people step in to help out with the tokenomics, which has given me real faith that it could one day go somewhere. Clearly, nowhere near as amazing as LEO!
I've been playing with DCity (thanks for your help, @kevinli) and am really excited about seeing what returns that brings after the initial investment. Time's a factor, but I think if I can give it half an hour every other day it's a goer. Whilst the price is down, I'll buy some more HIVE if I can as well.
Do you have a plan or a set of goals on how to use and grow your stake?
My strategy has always been to dump as much as my pay as I can on the mortgage, and spend $50 - $100 a month on crypto, more if I have added bonuses. This has worked so far and I was suprised how much BTC I ended up with after 2 years, which is great now that it's a bull run.
So it's slow and steady really. Keep posting (I do alright with post rewards, and I enjoy writing, so it's not really a chore), keep engaging, play DCITY, buy a bit of HIVE every now and then (likely with my Steem, haha). I have this tendency to give HIVE away to people for tips and when they're struggling, but that's okay - I don't want to be a selfish orca (yep, I really want to aim for that 50k).
I love HIVE so much - I have such faith it'll do well, but it does take all of us to invest in it.
Well, that wasn't so scary - my first LeoFinance post! I did it!
Feel free to send me some HIVE or LEO :P
With Love,
Riverflows
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You're my favorite muppet!
That could still buy you a nice chunk of Bitcoin in the near future.
If I read all of this, I feel you're actually pretty clever.
It's funny how I managed to make it so difficult for myself ( financially and in other ways ) up till
nowrecently with my knowledge. Believe it or not, I considered studying Economy 20 years ago ( that and many other things ). If... then hahaGreetings from a fellow muppet who loves to hang out with fluffy, naive and intelligent, creative, sweet, fun creatures like you.
Let's make the world a better place by becoming rich. That way we can make life easier for even more people around us ;<)
Big hug!
P.S. There should be a contest for most creative posts on LeoFinance, this would be a contender for the first prize. Loved it!a
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Oh, thanks so much! Yeah disappointed with my vote here but I guess they don't have creative muppet entries :P - one of the reasons I dont read many finance posts is that they are a little dull. However, the more you get into it, the more you learn, the less dull they can seem!
Thanks so much for your lovely comment my friend, made my day xx
!ENGAGE 50
I agree. It's creative people like you and I who can change this around but I can't help but feel that most people just want to get the message asap. Not my style, I'm a storyteller and that's not always appreciated in this era of lack of focus / information overwhelm ;>)
Mission accomplished!
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ENGAGEtokens.Love to see the financial Rivers, why not? You are truly multi faceted. I have to admit that Leo doing so well has peaked my interest. Big hug sister, fullfill those dreams, focusing on paying off your morgage is defs the way to go!
I AM multi faceted - I do have a lot of hidden talents, actually, haha. Yes, I think it's a kinda snowball effect - once it starts doing well, everyone jumps on board. I'd get bored if I had to post on LEO all the time though - thank goodness HIVE has lots of different communities to keep me interested!
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STOPDo not miss the last post from @hivebuzz:
So nice to see you on LeoFinance :)
Your post was in my twitter feed of my @aboutheraklion (see how interconnected everything is?) and I was very happy to see you taking part in this challenge.
I hope I can manage to sit and write my goals, the ones in my mind.
I wish you a very happy new year and I hope that in 2022, we will be referring to our 2021 posts and reality will be much better then even imagined.
There is so much to write on this platform, check out some of the rest posts on leofinance.io and you can get an idea what we are discussing :)
Have a lovely day!
Katerina from Crete, Greece
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Degrees of HIVE separation hey? That's cool - glad to connect. I've been definitley commenting on a few others (I do like to engage aka play) - and whilst a lot sounds like mumbo jumbo, I learn a lot too!
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Are you also on noise.cash?
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NO - what's that? Goodness!
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Land Rovers sound like a pretty good investment to me - you could probably make an entire business around making bespoke Landies.
I also like the idea of paying off the mortgage, but am not obsessed by it, it's cheap money, but I do like to see it going down every month!
Have a look at how much Hive Gerber has sold recently, it might make you think twice about playing DCity.
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Oh really? That's an interesting view of Dcity.. might need to rethink and investigate! I'm not sure I have the skills or time anyway.
Oh and @revisesociology we definitely wanted to start a Landie restoration business, but the fastest and surest way to pay off mortgage and save a bit is to go back to teaching.. have a look at independent school or private school wages in Australia and youll see what i mean. To leave teaching and risk a small business in this climate is too uncertain, plus we are both nearly 50 and just want to get debt behind us and travel when COVID calms down in a few years.
We will do a car a year though, flip them.
You're anything but a muppet Riv.
I powered up 13,100 a day or so ago and will do another 1000 on PUD...Clearly I believe in hive as you do. It's good you've got a plan and I'm sure you'll attain the goals; You seem the type to apply yourself as needed.
I read your post on powering up and if you are in, I am.
Thanks babe... I guess I put myself down when I get frustrated about things I'm not 100 percent knowledgeable about. There's so many financially astute people here I get intimidated!
Lol...I'm like the pied piper! Everyone following along...Well, one at least. (That's you).
I don't think one needs to financially-adept/astute to post on LeoFinance, or to have opinions and thoughts on financial matters. I'm a blunt instrument myself but still have opinions, a budget and all. Have you seen some of the rubbish on LeoFinance? You can do far better, and did! An insight into last years' 12 month off situation, the financial aspect, costing out a landie-build or purchase, weighing up the financial implications/benefits of grow your own or store bought...All financial-related, all well within your expertise to post about. There's a gazillion topics one could post that would work.
I tend not to post on LeoFinance too much...I mean it's clear who is there posting just for the reward and the quality tends to nosedive quite rapidly...I few here and there is fine for me, I like to support other communities also so one a week maybe, sometimes less...Everyone is different though, and so do what they want...I've stopped voting on people purely because of their prolific, and valueless, LeoFinance postings. But that's just me.
You'll do fine...Get on it Riv!
Wow, that sucks about having to take the time off and now finding yourself in a hole. I hope you can find the means to get yourself out of there. Hive is definitely a great start as well as LEO. I hear you about wanting to pay off your mortgage even though you may not see the benefits right away. It is a hard decision. I have about twenty two more years on mine before it is paid off! Ugh!
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22 more years... ouch. Well, that makes me feel better. I don't have a lot of BTC but if it stays bullish I can pay mine off by end of year.
We have the means, but that means going back to work in 3 weeks. Ugh.
Yeah, I don't have a ton of BTC either, but if it goes up to the mark they are forecasting then I will be okay. Altcoins will be where I really make my money if they take off.
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I had fun reading your post, thanks for sharing your experience. I have a friend who also loves buying cars and repairing them, and she's doing very well.
I am also happy to meet the person behind the natural medicine community, I will be motivated to share my favorite teas there.
I hope you can meet your goals and pay your mortgage. Happy New Year!
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I'd love to read about your favourite teas and it's lovely to meet you as well!!
What kind of cars does your friend do up? X
Hahahaha @joseacabrerav had encouraged me to write something about it but I thought something similar to what you mention at the beginning, despite having goals my financial decisions are still not fully supported, I have a hard time understanding the world of economics as my thinking is usually quite innocent about it but I am quite happy to bet on dreams, that is always a good investment, so buying a little of what you want and a little of those coins to support initiatives that we are comfortable with, that is nice for the heart and mind that is occasionally very concerned about spending.
I hope you are having a good start of the year! Adiwa 🤗
happy new year, dear Irene! I hope this message sees you well and smiling your beautiful smile! The world needs dreamers like us as much as they need financially smart people! I think we are smart woman and we could figure it out if we gave it our attention! But - boring, right?
Thanks to share your values with our Community ♥️
You are welcome. I enjoyed writing it.
Okay, so I guess I'm a muppet too then. Cool. And as for LeoFinance, I know it sounds tempting to blog on it like the (financial) big boys - and girls. But if you take a look at my previous posts with the LEO tag, they are all very muppet-ish. So ditto, thanks to Hive for being so diverse in its topics. But why is the coin not joining the big rally of cryptos right now? Could it be precisely because of LEO? I mean, I know, I have traded some decent amounts of HIVE for LEO, which I don't regret by any means. And I'm sure I wasn't the only one doing that.
No I guess not - I wish I had, early on!
Thanks - I actually have a few ideas for 'finance' posts I could probably do, I will put my left hippy spin on it though, warning!
Awesome! Can't wait to read them!
Welcome!
A collection of Landrovers? Interesting. I like people who think out of the box.
Regarding the BTC top of this cycle, I have spoken I am afraid 🤣🤣🤣...:
(21/99) * 10^6 = 212,121.21
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Well, if it hits that high, there will be a lot of happy investors who probably owe it to Hive people making them buy BTC.
crypto is gonna be less volatile during the time and will still perform as the most performing asset
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Thanks, I need to hear these affirmations!
I really enjoyed reading this @riverflows 🙂 I feel I should engage in this community more. I have also learned a lot about crypto over the last year and I also hodl. In fact, I’m actually really interested in crypto, in so many ways. I’m spending around 1 hour daily learning more and more. I think this really renewed my whole interest in economics (I’m an economist).
In Sweden no one pays off their mortgage, that’s just how the system works here 🤷♀️ So that’s not even on my mind.
Thankyou sweetheart - I didn't know you were an ecomonist! I used to find it very boring, but now I'm older and realise it's connected to culture, politics, gender, society and all sorts of factors, I find it a little more fascinating- though not fascinating enough to give up my other interests for :P
What do you mean no one pays off their mortgage?
What are you HODLing?
So who is the teacher in the family?
It's good to see that teachers are appreciated somewhere because here in the states our pay matches that of a sanitation worker. Having taught for thirty years, I needed to supplement that salary with several part-time jobs just to make ends meet. I would do carpenter work on the weekends and made more money in two days than I made for a week of teaching.
Owning real estate has always paid off for us.
Like they say, they aren't making any more dirt.
I agree with you, you are too hard on yourself.
From what you explained in this post, it seems that you have a plan and know how you are going to implement it.
I got into the crypto market almost from the very beginning, and the one thing that I have learned, sometimes the hard way, is hodl, hodl, hodl.
We owned a coin called LEND for 3 years or so. We bought it for pennies and all it did for the entire time we owned it, it did nothing but go down. About six months ago we sold Lend. I was tired of looking at it.
We should have hung onto the dam coin. Just recently LEND migrated to Aave at the rate of 100 lend for 1 Aave
One Aave now carries the price tag of $110.00. Having 20,000 lend at the rate of 100 to 1 means that I would have had 200 Aave. 200 x 110 = $23,100 😥
As I said before, hodl, hodl, and just when you think a coin is dead, you never know.
The sweat equity you put in the restored Landrover sounds like it would pay some handsome dividends if you guys do decide to sell.
Have a great weekend.
Oh my god - you must be gutted - 23 grand wouldn't go astray! Wow.
Sweat equity is a killer. You think you'll cut corners and go 'oh, fuck it, i'll just get someone to spray it, time's money and all' and you get a quote for 4k and start watching youtube to figure out how to do it yourself, haha!
HODL, then, it is! I have more of a fear of not being able to buy more BTC in case it doesn't dip again!!
We are BOTH teachres - I'm literature, he's physics. When we met, we didn't realise - we did the too much vodka and coke thing and when we woke up we were in love, and it was too late...