Find the contest link here
I know I haven’t posted anything finance related in a while. I got preoccupied with a lot of things in real life, 2021 is like the formal start of my long term career because previous years have just been spent preparing me for this year. I’m a general medical practitioner that spent more than 10 years of my life studying medicine (including premedical course). Now I’m trying to qualify for specialized training in the field of Pathology and this means another 5 years of my life allocated for studying. But hey, at least this adventure has better pay compared to previous years.
I’m at a stage where applicants are being screened for the residency position for a month. This means I may be eliminated from the program and will have to try again sometime around December 2021 for another opening because it’s a competitive field. Only 2 applicants are selected from a batch of candidates with no less than 50+ applicants from all over the country. It’s a small selective field and the institution I’m applying happens to be popular.
I’m a nobody and this blog is both a personal update about what goes on in my life as I plan to give myself post throwback reviews after months to years of being in the platform (as long as I can find a way to access Hive blockchain).
If I do get the position, I’ll be able to get more cash flow added to my income stream. This means more funds can now go to investments and that includes crypto. If not, well I just have to continue working as a general practitioner on some small diagnostic clinic or far flung area whenever there’s a position available. The work isn’t permanent but the pay is good most of the time but it’s nothing compared to having a specialist license.
Which is going to be your investment strategy for 2021?
I made a New Year’s Resolution post mentioning most of the feasible goals I’ve outlined for myself this year. I made it a point for the goals to be realistic and feasible depending on my career status over the course of the year. It has to be realistic and feasible otherwise it’s just promises on paper I can’t keep.
Most of the financial priorities I’ve set out is along the lines of building an emergency fund, and retirement/investment fund. I have been putting money on our local stocks and it’s not really generating me good returns compared to the value I could have placed on crypto but this move was from how I learned or was taught how to invest from traditional vehicles.
The emergency fund is more focused on preparing for financial problems my folks might encounter. I live in a culture where family ties have higher weight in decision making. This the type of culture that keeps poor people from being poor because of bonds, I am aware of that but there are chains that I can’t just easily get away from.
My grandparents are getting old and my parents can’t financially provide enough financial cushion in case they pass away. Folks aren’t exactly good financial planners and I think I’m the first from the generation that took retirement and investing seriously. There are also legal taxes and all other can of worms I have to be ready for.
The plan is continuing my accounting habits monthly and proper fund allocation.
1/3 for myself, 1/3 for emergency, and 1/3 for retirement. I don’t have the exact digits for this and I may change depending on what cards I’m given this year. I don’t really spend a lot for wants so that’s going to be relatively easy. The retirement fund will be divided to traditional investment vehicles and crypto.
Do you have specific assets you want to invest in?
The most immediate thing that comes to mind is crypto. But I’d like to still have some money on blue chip stocks and funding side businesses whenever I can to diversify. I used to doubt holding BTC and glad I was proven wrong. I am interested in real estate but it’s on the least priority right now. No plans of marrying anytime soon so I got plenty of time to think about starting a side business while at work on a hospital.
Preferred Investment? Crypto, Real Estate, Commodities, Stocks?
Crypto and Stocks. The other two are not feasible to get into at the moment. Real estate requires its own studying and commodities are not readily available for the public to get into here. I’d have to travel outside the country and meet with foreign brokers just to get my hands on precious metals.
I still invest my money on blue chip stocks that give out dividends. It’s a long term plan spanning decades before I plan on selling. Crypto is one heck of a wild card to be investing in. I just put my money and let it grow on the short term but never had my money invested on like it’s going to be one of my retirement fund.
I appreciate its value even more as I get to read about how it affects people from all over the world. Leofinance has been a good source of my crypto news because there are good content creators here that dumb down complicated crypto talks and make it more understandable to people new to crypto.
If ever something new happens in the crypto world, I can get the news fast from Leo community discord of just browsing the community page for the latest trending stories. I lurk on that server and pick up what I can understand. It’s hard to contribute to cryptofinance when you’re just starting your journey towards crypto literacy.
Do you have a plan or a set of goals on how to use and grow your stake?
The first idea is continuing my blogging hobby on the blockchain. I’m not really posting often on Leo but I do spend my time interacting with other people’s posts whenever I can find the time to be online. I think it’s better to engage with other users than be more absorbed with creating content. There are way better cryptofinance content being published on a daily basis on Leo that deserves some attention. I’m not earning because I think my blogs are good. I’m earning because of the generosity other users want to invest in me.
I got an alt account made for curating Leo content and some authors that I like from the community. I’m earning cents but giving back the value the community gave me. That staked amount was all from this community’s support.
Most of my content has been about art and other shows I’m interested in. The rewards I generate are reinvested to Hive Engine projects that in turn, generate more value for the entire blockchain. It’s a better alternative than cashing out to fiat. I believe in the potential of Hive and Leo to make me last this long.
I do have plans on buying more Hive quarterly for cost averaging then trading a portion of it for Leo staking. The budget plan isn’t much but it’s money invested compared to wasting it on mobile apps that drain my wallet for entertainment. There are some good games on this blockchain like Dcity. Hopefully I could see more games available that give me a chance for kickbacks.
There’s always striving to do better content with my digital art hobby. I’m trying to grow a following outside the blockchain. I’ll try to get more followers and use those views to try and hook people into joining the blockchain. The problem with content creators on this blockchain is being too focused on their growth here. The blockchain needs new users to continue thriving and content creators should strive to get their names out there and hook more people to be interested on Hive.
So until I get some traction on being a digital hobby artist off the blockchain, I just have to waffle my way through Hive and do low-key promotions in person to people giving hints of being interested in cryptoinvesting. This will be my financial plan for 2021.
If all else fails, buy more Leo and BTC.
