Image by 3D Animation Production Company from Pixabay
I was waiting on some jam jamming and I wondered if I had time to write a post before I dashed off for the holiday weekend. It's the Summer Bank Holiday here in the UK although, this year, we have already slipped into autumn. I put the heating on yesterday evening and I was so pleased to go into a warm cosy bathroom this morning.
Last year, when the lockdown started, I checked my pension arrangements as I wasn't sure whether my employer would be able to maintain my job. I found that I could retire there and then if I wanted to and immediately went into an existential crisis. It represented such a complete change: life had always been about having to work.
I've kept working since in a state of indecision, unable to let go and yet anxious about missing out. There seemed to be so many big decisions to make: the implications of starting to draw on my funds, where I wanted to live, what provision to make for aging.
In the past week, I've come across a potential solution to my dilemma. While I've been working, I've maintained an Emergency Fund equivalent to between three and six months expenses, to cover any time I lost or wanted to change my job. In a vlog the other day, one of the tips for managing on a retirement income was to stash away enough cash to cover twelve to eighteen months so that if anything happened (global crashes, pandemics), I knew I had enough to see me through that time without diminishing my savings too much.
This was such a great idea and provides a focus for the remaining eighteen months that I am going to continue working in my current role, it will allow me the time to build up that emergency fund. I've also found some good easy access accounts where I can deposit the money, so it is earning something, even if that it is not keeping pace with inflation. I know having that buffer, imperfect as it is, will help me relax and move forward with the next steps.
The other step is building passive income streams. HIVE is one of these and there are multiple ways of doing this through HIVE and HBD and Hive-Engine second layer tokens. Some of these are already crossing the boundaries beyond Hive and pairing with other tokens.
Just recently, I reached my target of 10,000 SPI, a growth investment token. My SPI portfolio has grown from a £700 investment to a value of about £18,500 over the two years that I have been investing. There are other ways of potentially getting much better returns (Splinterlands for one), but I like the slow and steady long-term approach of SPI.
The other slow and steady investments I have are:
| Token | Purpose | Status and Further Information |
|---|---|---|
| SPI | HIVE growth investment | Capped fund, trades on Hive-Engine, pays a weekly dividend (@spinvest). |
| EDS | HIVE income | Capped fund, trades on Hive-Engine, pays a weekly dividend in HIVE (@eddie-earner). |
| LBI | LEO growth investment | Capped fund, trades on Hive-Engine, pays a weekly dividend in LEO (@lbi-token). |
| CL | LEO income | Tokens issued through a monthly buy with either HIVE, HIVEp or LEO, trades on Hive-Engine, pays a weekly dividend in LEO (@lbi-token). |
| UTOPIS | HIVE income | Trades on Hive-Engine, pays a weekly dividend in HIVE. |
I also have some smaller investments in miners:
| Token | Purpose | Status and further information |
|---|---|---|
| STEMM | Mines STEM tokens | trades on Hive-Engine. |
| EDSM | Mines EDS tokens | trades on Hive-Engine, capped at 2,500, about 630 still available. |
I wrote earlier in the week about hitting my 10,000 SPI Target. I'd set off blindly into this, before my existential crisis hit (I say blindly, I did a lot of research and due diligence before buying the token - I mean blind about my purpose for investing), having the idea somewhere in the back of my mind about growing my wealth but no clear plan.
Like every new thing that you start, you learn a lot, about yourself as much as anything else.
Saturday Savers Club
I run a savings club every Saturday over on the @eddie-earner account. We're aiming to save £670 ($800) by the end of the year using the 365 day savings challenge. You can join any time of the year and set your own goals and plans (some people are saving Hive, others Bitcoin, some their local currency). We share savings tips and there's a free giveaway every week.
Wednesday Wellbeing Club
I'm hosting a Wellbeing Club on Wednesdays from 11 August until 24 November 2021 in the Natural Medicine community. It's for anyone who wants to make a lifestyle change. We have a weekly check-in and hot wellness tips, and a weekly giveaway. Here's the back story and the launch post with more information. Everyone is welcome.Three things newbies should do in their first week and, for most things, forever afterwards!
