I tend to enjoy financial conversations lately than indulge in politics or soccer, therefore I sometimes instigate a topic over money to learn a thing or two from a person's financial point of view. I asked a friend the other day, what would you do if you won a million Rand? A million Rand is equivalent to $62k so I'd rather work with USD for the sake of this post.
I am quite impressed with her response, this is what she had to say.
Fix my home
Invest
Save
And start a business
This was a chat over WhatsApp with her response exactly as above, she went further adding more of what she will do with $62K
Pay and finish the remaining years of my studies
Buy shares
Will just have to get information and see where I can put my money
I could deduce I was chatting with a lady with responsible growth mindset, there was no mention of throwing a party, go on holiday or buying a car, these are not bad things to do but one needs residual income to live a life one wishes. A lot depends on actions with the money in her possession, I can tell from experience here on Hive it is not easy managing money.
It was my turn to answer as she put the question back at me. My response was to invest in cryptocurrency which she don't know how it works so I will be sharing crypto with her some time.
Here is how I will be investing $62K
At Hive's current price value I earned $219 last month from my 12481 Hive Power, the move for me will give it a triple effect so $25K will go towards buying Hive and Power up for and estimate earning of $657 monthly by continuing with my daily activities here on the chain.
My HBD saving will receive $10k HBD for that juicy 20% APR, another $10 will be channeled towards purchasing BTC. I am left with $17 and the money management gets tougher from here on.
I will be tapping into Polycub and Cubfinance's pools for providing liquidity with $5k, I missed out on PsyberX Land sale so buying that and investing more on SPS, Splinterlands assets will have me push $4k towards that. Offline I need a bakkie to get around for jobs here and there so $6k might get me a new one or one with low mileage.
A precise tabular details below
My Leo Power goal for the year is 5000 LP, a thousand UDS towards that will have me surpass 10K LP with my current LP. It might be wise to Have $500 liquid Hive and $500 stablecoin on Binance to take advantage of Dips, and investing in some promising cryptos.
A fun way of investing my $62k if it comes my way, I don't think I will do anything different from the way I have detailed above. Perhaps I am missing some investment opportunity out there, how would you be investing?
I decided on these strategies based on earning from the entire Hive ecosystem without investing almost no money, why not invest more into it if I could to get better result?
Gif by @mariosfame
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Image by @doze