With rising interest rates and geopolitical risks mounting, I noticed a lot of investors asking the investment community for an optimal investment strategy to navigate these uncertain times.
I don’t have a crystal ball but am willing to share my personal investment strategy to protect my investment portfolio and build wealth during one of the toughest economic periods of my life.
Dollar Cost Average (DCA) into Bitcoin & Litecoin to Build Larger Emergency Fund
I plan to continue investing 10 to 20% of my monthly income into Bitcoin and Litecoin to build a larger emergency fund. Most financial experts recommend having a $1,000 emergency fund and an additional 3 to 6 months of living expenses stored up.
I don’t time my Bitcoin purchases but instead buy BTC whenever I receive money following the “Pay Yourself First” strategy. I recommend Coinbase for United States residents or Binance for anyone living outside of the USA.
Buy Beaten Down Growth Stocks in the Crypto & EV Sector
After adding to my emergency fund, I want to buy some of my favorite long-term growth stocks that have been crushed by rising interest rates. I’m mostly focusing on crypto stocks & EV stocks since these two sectors have the potential for explosive hypergrowth.
Here are a few of these stocks that I’m buying up in 2024:
- Lucid Group (LCID)
- ChargePoint (CHPT)
- Marathon Digital Holdings (MARA)
- MicroStrategy (MSTR)
- Cleanspark (CLSK)
- Tesla (TSLA)
Most of these companies (except Tesla) lose money but could turn a profit by the end of 2024. Since many of them have high short interest, I think they could soar in a short squeeze once profits start rolling in.
Pay Off My Credit Card Debt
I don’t have a ton of debt right now but want to become debt-free again in 2024 so I can focus on writing, making videos, and researching investment opportunities. I have a $500 credit card balance on my Capital One Platinum Card (read my full review) at an interest rate of 31%.
I’m losing $15 per month in accrued interest monthly and want to eliminate that debt in 2024.
Increase My Online Business Cashflow
With the April 2024 BItcoin halving right around the corner, I want to maximize my income from my online business to buy more Bitcoin and crypto stocks.
I earned $1,600+ with this site in Q3 2023 but am already on pace to exceed that number during the first 2 weeks of Q4 2023.
I live in SE Asia on a $1,500 per month budget and can invest a good portion of my income into assets due to the lower cost of living.
Sell Covered Calls to Generate Weekly/Monthly Income
Last but not least, I want to generate more covered call income to grow my portfolio without adding any additional capital. Selling covered calls lets you earn a dividend on non-dividend-paying growth stocks to supplement your income.