So I'm making 20k a month

[Grandslam]

Completely agree! Fiat currency of any kind is not what you want to be holding in the coming years.
IMO opinion we are on the brink of hyperinflation and most people on BHW are far too young to have any idea what happens when this occurs.
It'll be cheaper to wipe your ass with $100 bills that buy toilet paper. Be prepared!

You hit the nail on the head. The kids on here don't have the slightest clue of what's coming. Some may know how to create income, but they don't have an ounce of financial education.

I actually saw a guy who posted a picture of stacks of $100 bills on his laptop with BHW open, looked like upwards of 50k, thinking he is quite intelliegent for having so much cash on hand. I was thinking "gosh you are really going to get handed a really sour lemon in a couple years".

They're not going to know what hit them. All of the sudden their savings will be worthless. Should pay out real interestingly.

I'm glad I finally came across someone on here who actually "gets it".

 

[NewWayInvest]

Not to get off topic but a friend and I talked about this at lunch the other day and it is almost inevitable.

 

[supamanjon]

There are so many ways, but personally I would take it offline. I would invest all of that into wholesale where you make a pretty much guaranteed return. You could set up your wholesale to go to a fullfillment center so you never have to see it or package and ship it. All you do is sell, or hire someone to sell it. If you have a lot of money, the profit margins are much larger.

Another option would be buying up sites on flippa.com that are already generating revenue. After a year they'll all be paid off and you'll be also be left with a ton of rev.

How reputable is flippa? I remember buying some sites on sitepoint before and it was all shit. None met the revenue that they "claimed to make" and lost me money..and i don't think i had any protection against that or at least i was too stupid to think about back then...

 

[NewWayInvest]

How reputable is flippa? I remember buying some sites on sitepoint before and it was all shit. None met the revenue that they "claimed to make" and lost me money..and i don't think i had any protection against that or at least i was too stupid to think about back then...

I would only buy sites on flippa.com that came with training to keep the site profitable and an escrow service. Pretty much anyone can photoshop stats, but if you're smart about it you can find some real gems.

 

[GoogleBling]

 

[blackma]

Invest in arms companies like Lockheed. Has there ever been a time when there wasn't the need for guns and bombs??

 

[Bostoncab]

My friend I make to you Very Very Good deal! You give to me money and I make Very Very good investment for you. We make Much Much monies!

 

[Orator]

I'll make this short, in the face of so much... advice.

Your making 20k a month? You think it would last only a couple years? Fine.

Look around for a good quality financial adviser, and let him due the job he went to college for. With that kind of money he can invest it in very secure long term stocks that will secure you for life. You will be able to live off the dividends, and work as little as you want.

With access to that kind of cash, there is simply no excuse for not seeking professional expert advice to make sure your money isn't blown or doesn't get wasted. I'd also advise hiring an accountant to make sure your taxes are in order.

Seeking advice on a web forum isn't the brightest thing to do, and especially when your dealing with that kind of money. You have the potential to be set for life, but only if your smart.

 

[cracker]

Completely agree! Fiat currency of any kind is not what you want to be holding in the coming years.
IMO opinion we are on the brink of hyperinflation and most people on BHW are far too young to have any idea what happens when this occurs.
It'll be cheaper to wipe your ass with $100 bills that buy toilet paper. Be prepared!

I have been buying as much gold/silver as possible lately for this reason. I just don't see any point in hoarding cash--it's just stupid. Paper money is worthless, no "true" value. Precious metals have been coveted and valuable since the beginning of time.

I'd invest in precious metals and real estate. At least gold/silver are always gonna have some sort of value and if things get really bad you can camp out on the land you own.

And invest in a good safe; I wouldn't trust a bank with my gold.

 

[wickid12]

lol the people saying I'm not making 20k need to relax and stop being jealous... lol
I'm pretty smart and I do things no one else thought of. The problem is people will copy me in a few years from now and the method is pretty grey hattish. I've taken steps for people to not be able to copy me but fake's a replicas are almost impossible to avoid. I've been trying to think of a method to invest it in before and I'm sorry if you think that I should be able to know how to invest properly to know how to get a greater return.

1. Thanks for the realesate advice guys, I really appreciate it.

2. Many here think that the value of the dollar is going to swindle, while in fact it won't. The dollar is going to see some serious uptime by 2012 if, and only if, Obama manages to get us jobs again. The jobs are directly related to the value of the economy and the dollar is not paper yet. Hopefully he has something precious that will get us jobs and send the American economy back up!

 

[Sharkattack]

Buy repo houses or condos and rent them out for now. Sit on them till the market returns in 5-10 years and then sell the suckers and retire. Hire a contractor to do some small improvements on each one, then add a couple of 0's to their invoice for tax purposes. Will give you a huge deduction to offset your earnings. Pay cash for them if you can... You can get NICE condo's in California right now for 80-120k or so that were selling for $300=350k 2 years ago. They still rent for $1500 a month cuz *RENT* has gone up, not down! Buy 3-4 of them and pay cash and you're sitting on $4500-6k a month for the rest of your life, and a HUGE nest egg of over a million bucks in $5-10 years when the market comes back... and if it takes 20 years, who cares... you still got 6k a month coming in... you can live comfortably on that alone. ($72k a year)

That's is so true if You can afford.

 

[Gecko]

since the world is going to end in 2012, save up as much as you can this year and blow it on exotic vacations, fast cars and faster women next year. have one hell of a time. you wont be able to take it with you anyways and those assets will be worthless.

and if the world doesn't end, you had one hell of a time to tell you children and grandchildren and you have the knowledge on how to start making 20k / month once again.

 

[futuremills]

since the world is going to end in 2012, save up as much as you can this year and blow it on exotic vacations, fast cars and faster women next year. have one hell of a time. you wont be able to take it with you anyways and those assets will be worthless.

and if the world doesn't end, you had one hell of a time to tell you children and grandchildren and you have the knowledge on how to start making 20k / month once again.

best idea ever....i tell my friends live it up cause we will be gone soon

 

[Codythebest]

REal estate is the way to go in this economy...Use your money to leverage RE...

 

[BlackHatSoda]

Well, take it from someone who was doing six figures a month for quite some time... in the world of internet marketing, you always have to be looking out for the next revenue source.

I did nearly 2 million in my first 2 1/2 years of affiliate marketing (this was gross, but the profit was very nice). But my methods peaked after the first 1 1/2 years and went down from there. I still earn a decent living from the 50 or so sites I built using these methods but it's a small fraction of what I did before.

I've now moved on to new affiliate marketing routes to create more revenue streams, something which I should have done years ago but I got lazy when the big money started to roll in. So far it's been slow going but I'm on track to do well again.

Save as much of that 20k as you can, streamline your process in terms of expenses but most importantly, streamline it in terms of how much of your time and energy it consumes. Use the time you free up to invest in new income streams. Also, don't let the money make you comfortable and lazy. Don't increase your standard of living too much or you'll find that you can't maintain it when your primary income source starts to die down.

As for the money you save, put it in some worry free accounts such as high interest CDs or money market accounts. Sure, the interest isn't very high but unless you're actually kick ass at the stock market, you're time and energy will be much better spent staying focused on finding another way to earn 20k a month. Trust me, you've found something that works and you can find something else that will. Stocks and crap like Forex will just distract you and you'll never find yourself earning 20k a month from them so stick with what you know.

Good luck.

 

[BlackHatSoda]

Also, as others have said, it's a good idea to make sure you've got a good accountant making sure you're taxes are in order and that you're making your quarterly estimated payments.

Make sure your finances are in order and your living a lifestyle that allows you to save most of that income while you optimize your operations to free up time to find new income sources.

 

[charvak]

Read "Rich Dad Poor Dad"

 

[xamlit]

I'm sorry, but you don't know what you're talking about, with all due respect.

Saving dollars is an investment. And not a stable investment at that IMHO. When any country is printing up trillions of dollars backed by nothing, inflation is pretty much a gurrantee. Possibly even hyperinflation. Go google zimbabwe hyperinflation and see what you find. Keep in mind the Zimbabwe dollar used to be worth MORE than the US dollar.

As Robert Kiyosaki puts it "Savers are losers".

Educate yourself people, saving money is one of the worst decisions you can make financially. Now I know all the sheep will come in here (almost gurranteed) and say WTF ARE YOU CRAZY WHAT ARE YOU SUPPOSED TO DO IF YOU DON'T SAVE IT? SPEND IT?!?! No, loser, don't spend it. Invest it in assets. Real assets, not assets that your banker calls assets (like your home) because he isn't telling you who's asset it is. Its HIS asset. A real asset puts money in YOUR pocket and a liability takes money from your pocket. Its as simple as that.

OP, go to Barnes and Noble and pick up a copy of Rich Dad Poor Dad. You'll learn stuff you never even knew existed.

Nice... Just finishing reading that on the can. Lol. I knew exactly where you were going.

This is why I have over 100 domains for a lot of great ideas and I don't mind that I've bought them. Because they are assets. I can sell them for more. I can keep em if I want. But they are mine and they make me money. $7 a year for a virtual piece of property that makes me $500 a year is considered a win for me... Now multiply that by 100. That's 50 grand a year.

 

[dishnetboi]

Well isn't every investment a gamble. I mean if you're worried about risk then I guess go get yourself a nice toy. You can get a nice fuel efficient vehicle for 20 grand.

There is a difference between a risk and a gamble. A risk is if you know there is a good chance you will succeed. Gambling is when the odds are against you.

 

[Grandslam]

imo, that's a bad example. nba players cant be compared to internet marketers. nba players dribble the ball to make dough whereas internet marketers promote a product/service. internet marketers have a better understanding of how business works and for someone making $20k monthly, that's no excuse. surely, if you spent so much time developing that campaign you should have the knowledge to know what's worth the investment and what's not.

jus my 2 cents.

I hate to say it, but I can tell you right now it doesn't matter if you're a basketball player, doctor, or internet marketer - if you don't have financial education you're screwed - you'll never be rich.

I've been here for almost a year and can tell you >99 out of 100 people are financially illiterate - what good is internet marketing if it takes as much time as a job and you aren't able to ever truly retire? Affiliate marketers are even worse - they're wasting their time building some else's asset, not their own. I used to be one of them until I wised up and saw what a foolish move it was.

Business and investing are two completely different subjects. I have enough stories to write 30 pages about that.

Once you really understand how business and investing work, $20k a month is not impressive. Hell that's barely enough to get you over the hump to accredited investor status in the US - no oil and gas partnerships, no private equity funds, no real estate partnerships, no nothing.

It scares me when I hear people on here say they want to "live off the interest". It doesn't get any worse than that! If that's the only way you know how to invest, you're screwed, royally.