Not financial advice, just knowledge on how to gain a personal strategic edge…
If you are like me, you probably came across this new project known as “DRIP”, then proceeded to commit some substantial time to DYOR, after which you got extremely excited about its potential. Next, there was only one thing left to do - “invest faster than a scalded cat.”
Firstly lets all pat ourselves on the back, as importantly we now have some skin in the game, which is more than can be said for most… Step one COMPLETE :)
Although our journey into DRIP should not stop here, this is not the end, this is just the beginning…
If you are reading this and are not invested in this great project, do not fear as you are still so very early to this project. DRIP is still but a baby puddle…
In fact, I would hasten to add, you may well be able to start your DRIP journey from a better starting position in terms of understanding what you want to achieve and how a DRIP wallet's lifecycle can either help or hinder you.
So whether you are already a seasoned DRIP investor or somebody yet to start their DRIP journey, a whale, or a minnow everyone is governed by the same rules and restrictions. The fundamental concept to understand is this… the only difference between all wallets is time, and how fast the wallet blows out, and ultimately how much of our wallet's potential we managed to extract.
What determines your Strategy?
Understanding how to answer this question is, without doubt, the most important part of your DRIP journey.
Getting the questions to be able to answer this question is easy, it is your subsequent answers that need you to take a real look within yourself. At this point, it would be remiss of me to not mention my friend Kelly Snook, as when I was listening to Kelly recently during a brilliant live stream it was her comments that helped me to reinforce my thoughts and understanding of this topic…
Qu 1 - How much money do you want to make?
This is a one of those questions that people without thinking throw an arbitrary number out… “200 million would do me right”… But to truly answer this question you need to give it the respect and thought it needs.
- How much money do you need to survive per year?
- How many more glorious years would you envisage living for?
- How much play money would you like per year for holidays, buying cars/bags?
- Do you want to create a nest egg for children, family, friends etc
- Investment funds?
Qu 2 — When do you need to make the money?
TOMORROW, I hear you shouting… Well this may be true but this would substantially change the way you construct you DRIP investment, anything is indeed possible but one potentially needs to be realistic with expectations.
- The sooner you need to start drawing on your DRIP wallet(s) to meet your immediate financial goals the bigger the wallet will need to be in terms of DRIP from Day 1
Qu 3 — How long do you want to be making DRIP?
This question really relates to the life cycle of your wallet, all wallets have a point at which they all stop producing DRIP, when they either reach 100,000 DRIP or you Claim the 365% or your Max Payout
- For this question, we would need to look at your wallet structure and the best way to achieve your goals.
- This will already be clear due to your answers to Qu1 and Qu2
Final Thoughts
I hope this article has made you start to think about your current or future DRIP investment and the first steps you should consider when designing your bespoke DRIP strategy, as this will ultimately help you to DRIP for the LifeStyle you deserve.
If you would like to discuss your personal DRIP strategy in more detail please join me and my friends in our Telegram Channel, we would love to have you in our community:
If you are ready to invest and want to just get on with it you are more than welcome to use this handy How To Get Started Guide to help you with this:
DRIP is an invite-only project, so I hereby officially invite you to join DRIP LifeStyle with this Buddy address: “0x68B58a5787F5aE2F36B426320aA5279bBAba79B5”
Thank you for your time
Matt
