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.

Yep.

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

Posted Using LeoFinance ^Beta