Making the Most of 2021: New Year’s Resolutions

Traditionally, I haven’t been a big New Year’s resolutions guy. Which is weird — because I love life hacks. I’m always looking for the best fitness app, the best portfolio tracking tool, the best note taking tool… you get the picture.

I used to view New Year’s resolutions as a frivolous exercise — promises easily broken because people either forgot about them or they were unrealistic. But I’m starting to change my mind about that. Resolutions might be the ultimate life hack. They’re a way to reset your goals and expectations for the coming year. They come with a built-in date to assess progress and reset your goals. And it’s the rare instance to take a broader look at your life instead of moving from one urgent task to the next.

So with that in mind, I’ve made a few resolutions for 2021. Some of them are about investing. Some have nothing to do with investing. I’m sharing all of them because one of the things I learned this year is that we’re all doing our best — and we’re all trying to get through this thing called life together. And if seeing this list — or reading about my thought process — helps you in some way, I’ve helped contribute to the greater good. And I can’t ask for more than that.

Resolution 1: Run more than 800 miles this year

Due to a series of injuries, I only ran 317 miles this year. That’s low for me. And I need to run. Running relaxes me. It brings me peace. It sharpens my mind. It keeps me in shape. I even eat healthier when I run. I’m just a happier person when I’m running at least 15 miles a week.

In order to achieve that goal, I have to take better care of my body and prioritize running. That means stretching, foam rolling and icing every day. It means making sure I don’t run on worn out shoes. And it means making sure I schedule my runs in my calendar on a daily basis — and stick to that schedule no matter what.

Resolution 2: Make better use of KingsCrowd’s Portfolio Tracker

I track everything when it comes to running. I use a Garmin watch that automatically uploads my data to Strava. I look at elevation gains, personal bests on individual segments of my run and benchmark myself against other runners.

In the startup investing universe, there’s only one tool that’s the functional equivalent of a Garmin or Fitbit. And that’s the KingsCrowd Portfolio Tracker. Investors can use the portfolio tool to track which startups they’ve invested in, how much they’ve invested, which market sectors their investments fall into, how much money they’ve allocated to each sector and much more.

The portfolio tracking tool is free — and it’s easy to use. You just need to commit to it. And this year, I’m committing to making full use of it.

Resolution 3: Respecting the Calendar

I used to think the older I got, the busier I got. But I actually don’t think that’s true. When I was younger, I accomplished quite a bit every day. I just didn’t need a calendar or schedule to do it. My brain was able to process everything on its own.

Sadly, I can’t just roll out of bed and accomplish everything I want to in a given day or week anymore. I have to plan things out. And not just work things. I have to make sure I leave time for running or cooking or watching the Michigan State game. I’m not happy about it. But it’s my reality now.

So starting in 2021, I will be blocking out time on the calendar for everything now. Reading time. Writing time. Big picture thinking time. Even meals. That doesn’t mean that I’m going to stop writing at 3 p.m. because my calendar says I have to. Sometimes, it takes longer than you’d like or expect to finish a piece. The same is true with any task. 

So I’m not going to stress out if my day doesn’t go exactly the way the calendar says it should. That’s ok. Life happens, and I’m not going to worry about it. But I am going to try and respect the calendar.

I’ll do my best to follow it. And if I can’t, at least I have everything I need/want to do in one place so I don’t lose track of it.

Resolution 4: Invest more than I did in 2020

2020 was a terrific year to invest in startups and crypto. Startup deal flow was terrific. And the crypto markets soared. But I feel like I could have done more. Investing is the best way to build wealth. And every time I don’t invest money, I feel like I’m losing even more future dollars.

With the fundraising rules changing for startups next year (startups that are crowdfunding will be able to raise $5 million instead of $1.07 million), we should see even better startups to invest in. And it’s just the beginning of the bull run in the crypto markets.

So no more “giving away” future dollars. In 2021, I definitely want to invest more than I did in 2020.

Happy New Year everyone!

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Source: Early Investing