Hello Everyone,
It has been a while since I have posted, I want to share with you the Financial Goals that I have set for this year (2025) on Hive. Currently, I have 3 assets that I am mainly focused on, Hive Power (HP), Hive Backed Dollars (HBD) and SPS. For the past years I have been losing investments because I was blinded by "Quick returns investments" especially in the Crypto space, If the investment sounds too good to be true, better spend more time understanding it and verifying it rather than spending more money and losing it. This is a new year and I want to improve on myself with this post focusing more on the investment side (more specifically on the Hive Block Chain). Setting clear and precise goals is a must, plan and determination is needed in order to achieve goals. I hope this post inspires you to invest more to achieve financial freedom in the future.
This year, I will focus more on these 3 investments, Hive Power, Hive Backed Dollars and SPS Staking.
1. Hive Power
My Hive Power is currently at 900+ and 600 of it is being delegated to OCDB, My plan before was to increase my Hive Power and delegate all of them so that I can earn passive income without doing much. Now, I want to change that and start writing blogs to further earn more and increase my hive power, I realize that there is no such thing as "passive income" you still have to do something in order to earn it. With blogging, I can both increase my power therefore increasing my earnings and also increasing my exposure. exposure and attention are the key to this modern age.
My plan is to reach 3000 Hive Power this year which means I will need to invest 2100 more HP, 2100 HP/12 months = 175 HP/month, this means I need to invest minimum of 175 HP per month to achieve my goal.
2. Hive Backed Dollars
Currently I have 1331 HBD in my savings, I think HBD is a good source of passive income as it gives a yearly interest of 15% paid every month. Every month I receive around 22 HBD as interest which goes directly to my HBD Savings staking it again and compounding it.
These are the Interest that I have received so far:
My goal for HBD this year is to achieve a total of 3,000 HBD in my Savings. This one is a bit tough as I am still not half way through it. I am hopeful that with the addition of blogging that I will be able to accelerate reaching my goals. I will need 1700 HBD/12 months = 142 HBD/month, I am excited for the interest that I will receive every month once I achieve this, before I was earning 11 HBD of interest and it jumped to 19 HBD to around 22-27 HBD.
3. SPS (Staking)
Lastly, I want to talk about Splinterlands, I have been in and out of splinterlands since 2021. I am not even sure if I am in a positive return or in a negative. Regardless, this is the last investment that I want to add in my asset in the Hive Blockchain. I really enjoy playing this game, I like card games and I like the idea of earning thru playing card games.
Currently I have 57k SPS Staked in my account, I believe that staking SPS is a good investment as it has an APR of 10-12 percent which gives a decent return in the form of SPS and vouchers. It also increases your Glint Boost and Earned SPS every win. The more SPS you stake the higher the multiplier will be, the more you will earn per win and the higher the interest you will earn per day. This is great as it not only gives a daily interest but also amplifies your earnings.
I am currently at a boost of 9.69x at Gold I League
My goal is to have at least 150,000 SPS staked as it is the requirement to have a 10x multiplier in the Diamond II league. I will need to stake 150,000 - 57,000 = 93,000 SPS, divide that by 12 months and I will need to keep staking 93,000 SPS/12 months = 7,750 SPS/month.
That is all for my post, hopefully by the end of the year I will be able to achieve them. I have set myself strict rules, will focus and be more productive in order to achieve them.
I hope you liked reading my financial goals, have you set one for yourself too? let me know in the comment section. More posts to come have a great day everyone!