#FinancialGoals2021 and the plan to earn $10,000
At the moment I am still doing my 2020 total income, which takes longer than expected due to so many “side quests” joined throughout the year. I will use my December Residual Income as a reference. My 2021 financial goal is to earn $10,000 from crypto related activities and residual income. Will be great if I will earn them from creating memes but life is not always fair. I am not Kylie Jenner, therefore I have to work to pay my bills. How does $10,000 sound? For me this goal sounds achievable if I keep my involvement at the current standards.
Gordon Ramsey is saying that you are as good as your last plate, that’s why you need to keep the foot of the gas. I adapted this to my writing because… you are as good as your last published article. December was a month of festive joy, and I smashed all previous records. After adding every cent together, the grand total was $1845.29. Just speechless!
This year, my main focus and preferred investment will remain cryptocurrencies, mixed with a small percentage in shares, Football Index and side investments. Having fun and writing books will still play a part in this long term game. As a secondary goal, I wish to finish my psychological novel, one that I started many years ago and never had time to continue.
I divided my master plan into 5 bulletpoints , each bringing unique contributions:
- Interest on Celsius Network
- PancakeSwap Farming Pools & LP
- Binance Coin (BNB) and the Binance Launchpool
- Staking and waiting for small valued assets to grow
- Blogging (and memes)
1) Interest on Celsius: At the moment, I am holding the “Big Guns” in here. Bitcoin, Ethereum, Litecoin and a large chunk of Binance USD are earning a nice interest. Some altcoins are in here as well, because even the smallest income is better than no income. Started with Celsius half-way through 2020, and gained $224.33 just for holding my assets in there. The amount was considerably bigger, as earning from bonus codes is not showed.
2) PancakeSwap (Binance Smart-Chain): This is one of my newest addition, discovering this amazing platform in December. Since then was a smooth ride, making $41.14 last month. On the first of January I upgraded my game, and how I will flip $CAKE. I added all the tokens I decided to hold from Binance Launchpool on PancakeSwap, as LP’s or as $CAKE farms.
I will not list them one by one, as the only ones that matters are the CAKE-BNB, ALPHA-BNB and BNB-REEF pairings. The CAKE-BNB pool has x30 reward while the others just the normal farming rate. From this three pools, I farmed 39 CAKE tokens ($25.75) in 5 days, which I staked in the REEF pool, and farmed 49.8 REEF tokens ($0.51). For the following forecast, I am ignoring the compound and just multiplying by 6 to make the monthly average.
In 30 days, the profit will reach $154.50 in CAKE and $3.06 in REEF, a total of $157.56 which will be than added to the CAKE-BNB and REEF-BNB pairing for enhanced rewards. This method can raise $1890, which is nearly 20% of my 2021 target.
3) Holding BNB and farming through the Bianance Launchpool: This method generated a considerable amount of crypto in 2020, and some quality assets, such as HARD, APLHA and REEF. In addition, the value of my BNB doubled last years, as my average buying price was under £20. The Binance Coin (BNB) is one of my untouchable assets. The Launchpool added Bitcoin Standard Hashrate Token (BTCST) and I managed to farm a fair share. Now I have to do my research and see how I can use it to earn Bitcoin through the Binance Smart-Chain.
4) Staking and waiting for small assets to surge in value: Had some bets in 2020 and all of them didn’t failed to deliver. I invested in Zilliqa (ZIL), VeChain (VET) and Elrond and all have at least 300% added value right now. I collected some other ones, from writing competitions or rewards, such as Aelf (ELF) and Atomic Wallet Coin (AWC), which are also doing well at the moment. I currently keep Atomic Wallet Coin (AWC) and Zilliqa (ZIL) on Atomic Wallet, staked at 17% and 16%. Every time I claim my Zilliqa reward, I also receive gZIL fractions, the governance token.
All my $FARM is staked in the Harvest Finance auto compounding pool, making my stash bigger and bigger. This is not added in my plan, as all was won in rounds of the Creativity Contest, and is hard to anticipate how much I will add to the current stash.
This mixed method will be my residual income framework, and the guideline on how my 2020 financial goal will be achieved. As you notice, I didn’t added any forecast for the platforms where I create contents, as some months will bring more, some months will bring less, depending on writing competitions and my availability for writing. However, this brings a big share of income, and I expect to keep the standards at a decent level.
5) Creativity In January I already won prizes in 4 meme competitions, adding $ to my portfolio for having a laugh. I want to get out of my comfort zone and have a few entries in video competitions. The issue with this type of competition is that they are looking for people with thousands of followers on Twitter, Youtube or TikTok, which I will never have.
I hope the Harvest Finance Creativity Contest will continue throughout 2021, as this contest was one of my biggest sources of income in 2020. The income is totally unpredictable but I am confident that at least 10% of my goal can be achieved as #BreadForThePeople.
My CakeDeFi account may bring a huge boost in the summer. I got $30 worth of DFI in December, which got locked in a compounding pool for 180 days.
More tokens were added from the referral system and compound, and now I have 101 DFI staked. Hopefully in June, their value will bring a fat return. When I received the bonus, the DFI value was $1.1 and the value already doubled. Only 150 days until my stash gets unlocked! If the value of DFI will bloom until June, I will have a small fortune to cash out.
DeFi bounty at CakeDeFi with $30 DFI for new users
(Trophy cabinet under construction)