🦉 WoW #49 - Setting Goals for 2021 🦉

Dec 30, 2020 8:06 pm

Happy Wednesday, Wise Owl Nation!


We have reached the end of the year! Finally.


Some of you are planning ahead for 2021, while others of you are looking back at how crazy 2020 was.


Then the rest of you haven't given either of these a second thought and are too busy watching the Queen's Gambit on Netflix and deciding if you should learn to play chess.


I'm going both, and today I open the doors to a little part of my process of self-reflection and goal setting, where I look back on my wins and fails in 2020 as well as look forward to what I plan to accomplish in 2021.


Read on and let's get into it.


You can find all past issues (including this one) here.


_____________________________________


Was this email forwarded to you? 

Click here to subscribe

_____________________________________


🧠 Wisdom Goals - Continue Learning

To me, Wisdom is the merging of knowledge and experience. To become wiser, you need to both learn new things and then do those things. Wisdom requires taking action.


This year I read over sixty books and studied several new subjects.


A few areas I focused on:

  • Writing newsletters 😉
  • Poker
  • Sleeping
  • Cryptocurrency


My knowledge and experience in these areas skyrocketed.

  • I wrote 49 consecutive newsletters
  • Played in over fifty poker sit-n-go's or tournaments
  • Grew my crypto portfolio by over 300% while earning 5-8% monthly interest on my crypto.


I want to continue on this path in 2021 and plan to focus most of my energy on the following areas:

  • Winning poker tournaments
  • Writing and publishing Fantasy Fiction
  • Mastering my personal health across all areas (sleep, nutrition/food, exercise, mental health)
  • Creating valuable content (newsletter, youtube, podcasts, and twitch)


How do I plan to accomplish these goals? By taking the time to learn as much as I can while also taking action to form strong habits and routines.


🥑 Health Goals - Total Revamp

In 2020 I was all over the place regarding health habits. My progress in becoming healthier took a sideways turn this year due to drastic changes in my environment.


I should have had a more flexible routines in place, so that was a big lesson learned in 2020.


The good:

  • I started sleeping more and more. My review of "Why We Sleep" earlier this year scared me. Sleep is a priority
  • Every day without fail I take Vitamin D, Vitamin C, Comprehensive Immune Boosting Mushrooms, Krill Oil, and Jocko Go.
  • I started cooking more.


The bad:

  • It seems that many dishes that taste good and are easy to cook are not that healthy
  • DoorDashing healthy food is much easier and much more expensive


The ugly:

  • More time at home meant more stress eating
  • More time at home meant no more walks or ping pong at work


So what are my goals?

Establish a better system for my health - This means a system around exercising more and eating better on a daily basis.


I plan to start by finding one or two easy/healthy meals that I can make frequently and quickly. Then using these meals as a foundation for eating healthier more often.


I also plan to start walking for longer periods and throwing in some jogging here and there.


These changes are small and can be built upon. When making health-related goals I've found it is best to make small changes over time so that you have a better chance of keeping the habit going.


💲 Wealth Goals - Crypto, Income, and Spending Wisely

On the financial side of things, I had a good year. I was fortunate to work in a position that could easily transition to full-time remote work, so I was able to keep my primary job.


Covid still scared the shit out of me with regards to my dependency on my largest source of income.


I follow my own advice regarding wealth. I keep expenses low, work to increase my income, avoid/pay off debt, and invest the rest.


Even so, there is a critical vulnerability to my entire personal finance process. More than 70% of my monthly income comes from a single source - my main 9-5 job.


I've floated around a lot of ideas on how to solve this, and I'll share a few of them below:

  • Get my fantasy fiction focused YouTube channel monetized
  • Win large poker tournaments and build a larger poker bankroll
  • Stream poker, crypto/finance discussions, etc on Twitch
  • Finish and publish the fantasy fiction novel I am currently writing
  • Get lucky and watch Crypto go so wild the interest/staking returns alone replace my salary


Notice anything familiar? My income stream ideas mirror my learning passions going into 2021.


The more I learn the better I will get at poker, YouTube, writing, etc. The more I take action and practice these activities the higher the likelihood that any or all of them start producing actual income!


This is my way of staying focused, by creating goals in different categories that support and fulfill each other.


The dream would be to first replace my salary with income from all of these areas while keeping my job. Then doubling or tripling my salary income so that I can say goodbye to the employee life and focus all of my time and attention on the things I am the most passionate about.


Regarding Crypto Investing - This is my current strategy and future strategy

My non-crypto investments are taken care of automatically. My crypto investments are not quite fully-automated, but we are getting close.


In 2020 my strategy was as follows:

  • Buy ETH every week
  • Send ETH to BlockFi and earn interest
  • Hold BTC in BlockFi to earn interest


My 2021 strategy is a little different:

  • Buy ETH every week
  • Stake all ETH to increase staking earnings
  • Reinvest all staked ETH to grow ETH holdings
  • Lock up BTC in a hardware wallet for emergencies


Bitcoin broke $28,000 per coin this week and Ethereum broke $750. Bitcoin has reached a new all-time high, but Ethereum still has yet to reach the all-time high it reached in early 2018.


Ethereum is going to be the star of 2021, mark my words. It has astronomical growth potential. I would not be surprised to see ETH above $2,000 per coin by mid-2021.


I'm not usually someone to make many predictions, although I did predict that ETH would hit $800 by the end of 2020. It's almost there! I can't predict the future so please do your own research and only invest money into crypto that you won't need for years.


Quote of the week:

image


This year being 2021 and last year being 2020...obviously.


Have a great week and I will see you next year!

This concludes our issue this week and concludes our newsletter issues for 2020. I hope it gave you some perspective or injected a little motivation into your life!


If it helped, let me know! I read every newsletter response I receive, and I absolutely love hearing from all of you. This newsletter is for you, so I need your help to make it as great as possible.


If you'd like to show me some love for writing all this free stuff, you can always buy me a coffee.



Resources and Other Links

I will be adding to this section over time as we find resources that will help you all.


Comments