Accumulation Phase Done! What Now? .:. #FinancialGoals2021 Initiative

in LeoFinance2 months ago (edited)

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I like to join great initiatives, and it looks that @theycallmedan mastered them, and now, along with LEO Finance platform they have created #FinancialGoals2021 "challenge"... This time, the topic goes in alignment with my personal thinking and content creation for this part of the year, so it is a perfect moment to "seal" some of my goals for this year and make them more real by sharing them with you guys...

I will use this opportunity to share my (more) personal goals that I have for some time, but I think that maybe 2021 will be the year when they will be accomplished... I will not go into my detailed "numbered goals" as I have done for the last year, but more in general and on a larger scale... What I like to say, sharing a big picture... Just for notice, I will continue with #MyHiveGoals, and do more exact crypto goals in there...

I have tried to stick to the rules of this initiative that you can find here, but of course, I went all around in my video... :) Still, I think I have responded to the main questions... If not, I will try to do it here in a written way also...

Which is going to be your investment strategy for 2021?
The last couple of years I was just accumulating crypto as crazy, even when it was at its peak in 2017 (which was a kind of mistake to do), but from that peak until today I was mostly investing FIAT money in crypto, or creating crypto by content creation, ETH mining or staking some coins... As I said, accumulating and buying crypto when it's on top was a mistake, and I want to avoid that mistake this time, so my strategy will be to try to cash out some crypto and turn it into some other asset that is undervalued at the moment...

Do you have any specific assets that you want to invest in? and Preferred Investment? Crypto, Real State, Commodities, Stocks?
These questions are a perfect continuation to the previous one as I have mentioned changing assets... As they are similar, I will try to answer them in one part... I have 3 assets on my mind...

One of them is crypto, and yes, I'm aware that I said that I would like to cashout SOME, and that means exactly what I said... "SOME" of them... For the rest of crypto, I plan to keep HODLing, investing in different coins that have use-case and I can use them... For example, coins like HIVE or LBC have a perfect sense for me as I'm a content creator and use them for supporting my content and other creators...

The second asset would be gold... I know that a lot of people think that it's overvalued (especially crypto people :)), but if I have to choose between FIAT money and gold, I will always pick gold... lol... As I'm already own BTC, which people often call digital gold, I plan to buy some real ones, and own some physical gold also... :)

And the third asset is real-estate... I'm renting an apartment for almost 10 years, and I'm always scared when I calculate how much money did I "thrown through the window"... So, the biggest goal for 2021 is to buy an apartment for living completely from crypto earnings! Maybe it will not happen this year, but I have built some nice foundation to make it happen and will work hard to achieve it!

Do you have a plan or a set of goals on how to use and grow your stake?
Yes, I do have a set of goals every year that I put in front of me to remind me every day... That keeps my motivation alive and moving forward... My simple plan is to INVEST IN MYSELF and grow my stake by doing that... Learning new things, expanding my views in other blockchain projects, trying new stuff, making new relationships with others, and contribute to the community... I truly believe that all that is the best investment that I can do, and I believe that it will return the biggest APY!

Don't forget to check out the video...

PS. If you want to participate in this awesome initiative check out the initial post here... Also, follow the @hiveangelists account for future ones... Big thanks to @aliento, @hispapro and @tripode for additional promotion...

Thank you for your valuable time,

~ph~


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Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
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My Goal is to continue with self-development on all levels and to obtain more financial literacy in cryptocurrency, real estate along with investing in the best quantum technology tech and businesses, putting myself with the right group of people to obtain more in the joys of life, because it is about time for this shift to happen. Thanks for your content.

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I like your plan! Learning new things, getting in the right circles, and having good mentors and role models is an important thing... Maybe they can't do the work for you, but they can show you the way!!!

Thanks for the comment! Appreciate your time!

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I love what I am Learning. keep it coming.

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toruk_washere_new3leo.jpg

More info why you see this.

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It's always a pleasure to see this banner in the comments! Thanks for motivating others and appreciate their effort!

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You're right, you have to chose between fiat money and gold and irrespective of what anyone will say about gold, it's still better than fiat currency. Quality content here, amazing of you to make a video, hopefully your goals are reached. Cheers!

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Thanks for your kind words! Appreciate it!

you have to chose between fiat money and gold

I was discussing this lately with a friend... Even if the price of gold goes down (which I doubt will happen), I'm still more confident in the future of gold compared with the future of FIAT money... (inflation, probability of hyperinflation, etc...) So, maybe I will have less value in a year or two, but it's well worth taking that small risk compared with keeping FIAT money for longer period...

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Yeah it feels like even if gold goes down in price, you're assured it wouldn't be stuck in that price forever but then as for fiat, I see real volatility with fiat even if people are not seeing what inflation does to it.

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Nice goals, @ph1102.

Make it happen.

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Thanks for your comment and wishes! I will push hard to make it happen, for sure!

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this is a very motivating story and relatable story.
I like what you said about what is the point of accumulating without having to enjoy it. this totally makes sense. There should be a point where one has to cash out and my friend I think it's time to reap the benefit ofyour struggle

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Thanks for the comment... And regarding cash out, people are sometimes ashamed to do it, as others jump on them with questions like "Why do you do it? You don't support the platform, etc..." It's just stupid thinking...

I support the platform contributing with my content and by doing that, I'm making this platform more interesting for new investors, helping others to understand some things, making new connections... By doing all that, I suppose that it's fair to get some reward?

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I"m feeling nervous about BTC - want to buy more, but golden rule is not to buy when it's up. But if it keeps going up, then I will regret it!

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Yeah, do not go in big now. But look for those days when the price dips several thousand dollars. That’s the best moment to buy a little bit.

Then when you have some profit from that, you have a bit of safety buffer for the next buy when the price again dips a few thousand.

Not financial advice ofcourse and only invest what you can afford to loose.

I myself am thinking of buying a little bit of swap.btc on hive engine every now and again. Since hive has no transaction fees you can buy 0.00001 swap.btc or less at a time. Buy that amount in real btc and you will pay more transaction fees that what you bought.

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Just 2 important rules... The first is to not mix emotions and investing... that's a bad combination, which leads to FOMO, wrong thinking (or not thinking), and losing money...

And the second one... Never look back... no regret for made action... Always remember that you have made the best decision that you could in the specific moment... It's easy to be a general after the battle... Even with yourself... and judging your own past...

Also, I would agree with the comment of @elbrava...

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Your post is inspiring, thank you for sharing your experience. I hope you can achieve all your goals, also one of my goals is to invest more in me, learn new things and more.

Have a great year!

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Thanks for your wishes! Appreciate your kind words and I hope you will find the goals that will inspire and motivate you, even more, to push toward them!

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Simplicity is key..tbis is definitely the easiest laid out financial plan I have come across today.

For someone like me, I am aiming to be were you intend to take off. Now I could position and plan well with this post of yours. I have to bookmark this

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Thanks for the nice words, man!

I'm still not sure that my plan will work, but it was developing nicely these last couple of years... Yes, it was hard to see all crypto going down, but the most important thing was to be strong, HODL, and build all the time...

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Hodling is one important factor when it comes to crypto matters but it's not been preached About enough. Thank you for the reward

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Hodling is one important factor when it comes to crypto matters

Like any other "strategy" it has sense if you have a plan of your entry and exit points...

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I Hope my accumulation stage takes me less than a year, I wish to grow and cash out starting from next year

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Well, I didn't expect that mine will last for 3 years, so don't stress about it how long it will take... Just be patient and keep on building... ;)
Cheers!
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Great post thanks for sharing your goals. Investing in yourself is always a great goal. Earning crypto is a great way to accumulate too. One of my goals for 2021 is to build my HIVE and LEO positions and focus on both platforms investing my time into the community. Have an awesome 2021!

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One of my goals for 2021 is to build my HIVE and LEO positions and focus on both platforms

We are on the same page regarding this! We will do It together and it is already happening... Especially on LEO...

Earning crypto is a great way to accumulate too.

I did invest some FIAT money into crypto, but I do work a lot on accumulating by earning it... ;)

Thanks for the comment! Appreciate the support!

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Congrats on completing your accumulation phase. My journey is still on.

It's not that I'm done with it, but the focus is changed a bit... and the way of doing things... I don't accumulate BTC, but I do search for other, undervalued crypto's for investing... ;)

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People have been waiting for the bull run for the last 3 three years. Cashing out some crypto would be a good idea this time. When the price drops, you can again make some investment. People usually do the opposite. Looks like every time BTC makes ATH and breaks the previous ATH. People are very excited about BTC. I think if you want to buy to trade, that's good. But buying for holding would be a bad idea.

Wish you all the best, @ph1102!

Looks like every time BTC makes ATH and breaks the previous ATH. People are very excited about BTC. I think if you want to buy to trade, that's good. But buying for holding would be a bad idea.

Exactly! I will publish today a vlog where I was talking exactly about that... People like shiny things and BTC shines very much at the moment! :) :)

Regarding bull run... I don't think that we are in the "real" one yet, as the only coins that are going up are BTC and ETH, but that's good for the start... I have a feeling that 2021 will be an interesting year... :)

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now we are in the face of mass adoption

Satoshi would be proud

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hehehe... Maybe he IS proud... But, you are right, all this blockchain thing is huge and revolutionary... We are changing the world as we know it...

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Congratulations friend in this journey began. I'll be glad to celebrate your wins this year.

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Thank you, man... For all your support and great tips that you are leaving in your posts... You are a part of my journey and my goals!

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Real Estate is always good for building wealth :)

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Yes, it is... The only problem is that the entry ticket for Real Estate is too big for most of us... So, firstly accumulate crypto and money... and they invest in real estate... That's the plan... :)

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true, the first one is the most difficult :) It needs a lot of pain and discipline.


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Now that is some news, you cashing out some crypto and potentially buying an apartment from your crypto earnings.

I would say these goals are great and a good next phase.

I also like gold and when I get the rewards for the SwissBorg community competition I will likely convert some of that into PAXG. A gold backed token. At the moment the only physical gold I own is my wedding ring :)

Good luck with your goals!

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I will likely convert some of that into PAXG. A gold backed token.

I didn't poke around gold-backed coins, so can't comment about it... I had some experience before crypto with "backed gold", so not a big fan... Like the physical one... :)

At the moment the only physical gold I own is my wedding ring :)

And we are on the same page about this... I did buy the smallest gold bar for a test, but that was on my wife's name.. so, yes... I only own my wedding ring also :)

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Nice plans for 2021! Hope you will be able to buy this flat ;-)

I hope the same... It cost a couple of years of hard work (and it will cost a couple more probably), but still, if I do it, I will count it as a big accomplishment... Especially in these days when 2-3 generations have to work whole life to pay a home... It's just crazy...

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I remeber when my parents told me that they have managed to buy our house when I was 8 years old. My mom was so happy to have no more depts. They had managed to pay back the mortgage in the time since I was born. It took them 8 years. Forget about that today... As you said it's rather 2 to 3 generations. It would be amazing if crypto could help you to reach this goal!

I think that crypto has already changed a lot of lives, and a lot of "ways of living" and thinking... So, why not one more... :P :P

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