My Financial Goals for 2021

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(Edited)

Hello Hivers!

My financial goals for 2021 is the continuation of my goals of 2020!

Five years ago, a become revolving debt-free. And that was the turning point of my life.

Where I Am Today

I keep full insurance, I am maxed out in my available retirement account, and maintain investment in stocks. I have an income property home and have a home mortgage. And oh, I don't have any car payments.

I have kept a minimal $1000 amount in the bank which I have not added or subtracted for years now. I withdraw all monies after all payments are made. I make all purchase in cash, or I use a credit card (with mileage rewards and cashback) and pay off all charges on the card every month.

Emergency Fund

I didn't dip into the emergency fund this year. I will add to my emergency fund bringing the total to an even higher amount. Do I have my emergency fund in the bank? Are you kidding me!


Expensive Habits

I have to fine-tune my expenses primarily eliminating expensive habits.

They say that the 4 biggest expensive habits are smoking, alcohol, guns, and gambling. I don't smoke, or gamble, but I have to examine how much I spend on alcohol and guns.

I count 29 bottles of wine and more unopened Christmas presents. I will stop buying wine unless I need to, unlike before when I would buy even if there is no need to.

This year, I shall not buy any guns either. I do have to make it to the shooting range at least twice this year.


Usual Expenses

I will save on utilities. I have been lax on myself. The TV is on even when I am not watching and the lights are forever on downstairs and upstairs!


Discretionary Spending

I have not been "shopping" for the past three years and buying only work clothes, shoes, and bags. I eat out only when necessary. I make my lunches for work, I cook, and baked my own bread. This year my savings was high because of the pandemic. I have fewer expenditures for meals taken away from home. My gasoline expense was drastically low. I also did not travel this year. Did I increase my investments? No, I didn't. I kept my money in savings.

Savings

This year I am saving for the next milestone. What milestone is that? The next retirement milestone? I am on track. The answer is: No.

I continue to save to have peace of mind should the pandemic not let up, or any type of circumstance.

I am lucky in the sense that I chanced upon stacking videos early on. It gave me a jump start to saving. I save cash in the same amount as I purchase in precious metals.

The Key

And there is no secret other than planning, being revolving debt-free, saving, investing, and being patient.

In Summary

  • Which is going to be your investment strategy for 2021? I will continue with my monthly stock investment and dividend reinvestment in COKE, AMZN, HD, MSFT, TGT, WMT, AAPL.
  • Do you have any specific assets that you want to invest in? Preferred assets? I am invested in myself. I make sure I have the proper insurances (life, health, home, car). I regularly contribute the maximum amount to an IRA. I want to have a secure place to live in, and thus pay down the principal balance of my primary residence as fast as I can. I continue to pay more than the minimum amount required for my mortgage each month with the income property that I have. In seven more years, if I continue on this way, I will pay the balance in full! And I save in cash and precious metals.
  • Do you have a plan or a set of goals on how to use and grow your stake? I am growing my stake a little at a time. I proceed with conservatism on my part. Since I rely only on myself, I protect my earning abilities by trying to be the best in everything that I do at work. At work or in the affairs of the home, I have learned to be prudent and careful not to make any mistake by thinking it over before committing any funds. Then I rely on divine Providence. And so with Hive. I remain very conservative. I have not added a single penny to this account, and exercise prudence in handling the account.
  • May I also add that to the greatest extent possible, I contribute to the Church and Catholic Charities and volunteer my time and effort to feed the hungry and poor.

😍#ilikeitalot!!! 😍

All photos, gif and videos were taken by me using my iPhone6 unless specified otherwise.

Make it an awesome day!

Thank you for stopping by to view this article. I post an article daily, and I hope to see you again soon!

Hugs and Kisses 🥰🌺🤙!!!!

@silversaver888



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86 comments
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Sorry, out of BEER, please retry later...

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That security 6 is a nice looking wheel gun! I have been looking at getting a .38 at some point. Who knows if I ever will. Right now I will just stick with the long guns that I have. Great goals that you have there. Best of luck with them. I am with you on the emergency fund thing. I am working on building up ours so that we don't have to take as big of a hit when those grown up things happen.

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The Security 6, I keep in my kitchen drawer. It is double-action, a standard issue for the police force before. I was just in your blog, hehehe, about the same time! If you have set aside $2,000 for your emergency fund, I suggest that you stop there and focus on paying down the truck and any revolving credit you have. (I am not a financial adviser, I struggle to save up money too.)
Good luck with your goals and stay on track!

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My biggest issue is my desire to pay down debt vs putting money in savings. When my wife and I bought our house the loan officer couldn't believe our debt to income ratio. I was like yeah, but we have no savings!

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When I first set my emergency fund, I did it in 4 months, because I was paying the minimum in credit cards.
As soon as I had 2K, I stopped that and focused on paying down credit cards, one card at a time. That was 7 years ago.
The emergency fund cannot be overemphasized. It will give you peace of mind, while you are paying down debts.
BTW, these ideas are not mine. It is tried and tested through the ages!

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Very interesting! My wife and I were able to get a balance transfer loan very early in our relationship and our credit card bills have been taken care of for close to ten years now. We really only have our mortgage, the truck, and the home improvement loan left. I already pay about $100 extra per month on the truck. With the car and trailer gone I need to be saving those payments aside.

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Woot, woot!!!
Way to go!!!
We're on our way, hehehe!!!
But we cannot be comfortable.
At any time, I can lose my job.
That is why we have to keep up our savings and investments.
I can't wait to get there!!!

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I have to bridge the next 8 years form my savings only. I am fully invested with low risk assets (cash/gold/fixed interest contracts) and play wiht some 40K in equity. I plan to invest before quarterly reports and go out directly after. In 2021 I do not see much upward potential in most stocks. And my highest costs nromally are travel and outside diners. These must go on!

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(Edited)

You are lucky to able to bridge 8 years in savings! We are blessed to have savings.
Play it conservative the months to follow, there is no harm in conservative!
You are doing good, @goldrooster!!!!

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hello dear friend @ silversaver888 good afternoon
I loved how planned you are, you have an excellent investment plan, what you say is very true, reducing costs is very important, it is unpleasant that you had so many weapons, I love them, I only have one, a 32 caliber revolver.
I appreciate that you let us know all this information
I take this opportunity to wish you a wonderful afternoon

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(Edited)

Hello there, @jlufer.
Good afternoon!
I lucked out @jlufer. I was able to change my habits from college,
of buying stuff and fluff, buying beyond my means... I was so much in debt!!!
Seven years ago, that stopped. The sad part is I had to sell my house and get a small one.
I sold all furniture from the old house. I did not buy much of anything for two years, and
I lived frugally.
Then five years ago, I was finally revolving debt-free!
3 1/2 years ago, I bought this house, with an attached income property (I watched it being built!!).
Now, I am back on track!!!

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“Be determined and confident. Do not be afraid of them. Your God, the LORD himself, will be with you. He will not fail you or abandon you.””

Deuteronomy 31:6

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You are full set on success.

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I love exchanging ideas with you 🥰🌺🤙 !ENGAGE

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I am barely treading water in this economy and 3 months of dad in the hospital wasn’t good for me financially either. My oh shit money is all gone to pay my bills. And i don’t see the light at the end of the tunnel either.

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Oh no, if I lose my job tomorrow, I am in deep trouble.
That is why there is a constant need to save!

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You know me Sis.
I usually stick to a budget plan religiously.
I was quite ambitious and determined to meet those targets in 2020 leveraging extra sources of income.
And now I am in a better position for 2021 knowing I am secure at my position, Pandemic or not.
Time to ease off the gas pedal a bit.
"Chocolate is NOT a fixed expense."

Always, with love 🤗 🌺 💖

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I know you, sis,
and you know me too!
It's good that I had more saving this year;
the quantities of silver I bought were not affected
with the increase in prices of silver.

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Time to thin out my wardrobe of clothes I hardly wear anymore to the Thrift Store. And maybe find a few more nice top top or if I'm lucky something vintage. It's how I saved 80 to 90% of what I used to spend on clothes and fund the local charities while I'm at it.

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Sounds like a sound plan and you are on top of it! One of the hardest 'habits' we've overcome is the lighting thing. Living on solar helped us to be more conscious of walking out of a room and leaving the light on. Let the light follow where you go....not where you've been. Thanks for sharing sis!💞

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Hehehe... I guess I'm the opposite! Since I have solar (partly) I have been just lax on the lights! Let that lights shines!!!.Hahaha.

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Well, around here in the winter time, it is tempting; for sure!😎

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I know, I know.. it is wasteful!!'
But Imma change that!
Hehehe.
Have a nice day, sis!!!

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Sounds like you have a very good plan @silversaver888. One of the best things I started doing years ago was paying with cash.
I also learned how important it is to diversify into many different investments!😍😍😀

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Nothing like being debt-free! I wouldn't want to be there ever again!!!
Wow,.. and what about your cryptos!!!

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Being debt free was such a freeing feeling @silversaver888!!😀 Most here are way ahead of the rest of the country. The Crypto's Wow!
PayPal was giving away $25.00 for new accounts to entice them to try buying and selling crypto. I don't need/want this card, But I used it to get the $25.00 in free Bitcoin. Free is always nice my friend😍😍😀

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Nothing beats free money! I say go for it!!!
🥰🌺🤙 !ENGAGE

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IMG_0676.jpeg

They took a fee out of the "free" $25.00 but it wasn't my money anyway Lol!
Today BTC is up over $35,000.00so this is worth much more!
I wish I could talk my youngest son into this, but I am afraid he might run up charges....That's what PayPal is really counting on....🙃

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If the fees are high, in this case, it about average, it can kill you, hahaha!

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We just got a lesson in "fees" @silversaver888. I just learned that Etrade will charge you if the stock you hold has a "Reverse Stock Split. I had to call them to figure out why we had a "Cash Call".
It looks like Etrade is passing fees along.....
Never had this happen before, I tend to "set it and forget it" with stock.
I will pay more attention from now on.....😍😍😀

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It's All Coming to Light .......... I Hope Everyone Will Listen to This, God Loves You

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i hope you succeed in your 2021 goals!! and wow so many guns :P

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I am crossing my fingers, hehehe. The first several days of the year has been okay, I've been shutting off lights, and more conscious of the TV. I guess it has been my habit ever since!
Oh, the guns... there are more I want to get. But I will be true to my resolution this year.
Thank you, what are you goals?

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I've been shutting off lights, and more conscious of the TV. I guess it has been my habit ever since!

I get you i am doing the same especially with the tv :P

Oh, the guns... there are more I want to get

damnnn, how that love for guns came out?

Thank you, what are you goals?

Hmmm i got a bunch of them for 2021, not sure what i will accomplish because my situation is a bit weird. So briefly in the best case scenario, i will find a job at the sector that i want and fulfil all of my crypto goals.

I have taken part in the initiative as well so you can read the full details if you aren't bored below

A Greek talks about his financial goals

It's past the payout already, just saying this (maybe a bad habit like with the tv :P)

ahh and also sorry for the late reply, i tend to wait for a bunch of them to gather throughout the week and reply to everything at once!

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I come from a military family. My Dad, my Mom, and my two older brothers were in the military. I grew up with guns, I guess it is just natural that I come to like them!

Keep looking, your bound to find the job that you think will fulfill your crypto goals.
Good luck with your goals @filotasriza3!

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Thanks for showing, @silversaver888. A little Kentucky Bourbon and you will be all set.

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No, @cve3... I am never set, so many variables. We can only hope and pray, and save!

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Wow! What a rockstar you are 👩🏻‍🎤👩🏻‍🎤👩🏻‍🎤
I felt like I just read the Wealthy Barber and got schooled by a genuine wealth mgmt. consultant, all in under 5 mins!
Awesome saver!!! You go girl!
⚡️⚡️💃💃💃⚡️⚡️

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Gwad... if you know just I went through!!!
Well, the guys from YouTube, they know everything,
I just did not repeat it here. What for...
besides, there was no reason, until now.
Now, how lame it is to say that I will not be buying wine
and turning off the light to save some money!
But that is all I can do, hehehe!!!
I am okay, for as long as I have a job.
And for a while there last year, I thought they were going to retrench!
Boy, I worked like crazy ending the fiscal year in great shape...
but it took its toll on my health. I had to be hospitalized!!!'
And again this later part of December.
There is no easy way.
If I lose my job, I will find one to replace it? I dunno!
Nobody knows!!!
I have to save!!!

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Great to see this post of yours, and how I do envy you with your financial goals. Just a few simple things as turning off the tv and shut the lights down when you're not there. It's so the opposite for me / us. No debts, that's one thing. But living on the edge, no savings ... and even no way to really get savings because the income is just not high enough and very little to no chances to increase the monthly income. Every time when I have gained a tiny bit, I have to withdraw it to use it ... No way to save on tv as I don't put on the tv ever, no way to save on shutting the lights off because I only use one light where I am. No way to save on turning the heater down a bit because the temperature here in the livingroom is just above 14 / 15 celsius. And never use a Central Heating because the propane gas is too expensive to use.

I try to stay positive of course, but I have really no idea at this moment how I would be able to get that emergency fund at least.

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14 to 15 celsius is too cold for me! Brrr....!
I don't know your circumstances, but it seems to me that finding ways to earn extra is the way to go. You have found a nitch in writing about cryptos. I say stay with that. Write daily. And selling your digital paintings. But the best is to find part-time ways to earn money, no matter what job it is so long as it is legal and decent. Take a look again at that "very little to no chances to increase the monthly income" part, perhaps there is a chance.
I too will be in trouble were it not for my job.

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Don't get me wrong here, but those possibilities I have looked for over and over and over again for the last six years. And yes, every job, no matter what. No, nobody knows my exact circumstances because I don't tell that much about that part here. I did write some parts about it, but never all. And I probably never will write all ... Thank you for your reply and the engagement.

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