A monster opportunity

We all think about it sometimes, having an extra monthly income of 1000 USD, just passively. Some dream of less, some of more. I belong to the latter group. But a 1000 USD is a great way to prove this is not so far away as some people think.

The current interest rate of Hive Backed Dollar is not 20 % per year, but actually 21.2 % if you compound your interest monthly. So that is the rate we have hold in mind.

To calculate the initial amount of money needed to get 12,000 USD interest per year at a 21.2% interest rate, you can use the formula:

Interest = Principal × Rate

Where:
Interest = 12,000 USD
Rate = 21.2% (expressed as a decimal, so 0.212)

Let “Principal” be the initial amount of money you need to find.

Rearranging the formula, we get:

Principal = Interest / Rate

Now, plug in the values:

Principal = 12,000 USD/ 0.212 ≈ 56,603.77 USD

So, you would need approximately 56,603.77 USD as the initial amount to get 12,000 USD interest per year at a 21.2% interest rate.

Achievable

56k seems like a huge amount to many, but actually it is really achievable. If you put your mindset to it.

Cut expenses of things you really don’t need, or just choose for a cheaper alternative. If you do that properly, you can easily save 250 to 500 USD per month.
Be very active on the Hive blockchain, post good content and curate wisely. If you do that consistently, 250 USD is very likely. For some 500 USD is even a fact because of the following they have built up.

This means that in 56 months you can achieve this, and from then on, the compounding effect is immense, and you grow to 1200, 1400, 1600,… very fast.

If you are conservative, and take 500 USD into account, this is possible in 112 months. But in reality it will go faster as you will already put it into HBD savings and you will have an extra compounding effect monthly. Which will make it possible in less than 100 months…

It seems unlikely, but it actually is just mathematics and consistency…

Go for it!

Sincerely,

Pele23