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Earned Six Figures Last Year, What's Next?!

Discussion in 'My Journey Discussions' started by raenic, Apr 22, 2015.

  1. raenic

    raenic Junior Member

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    ****removed****
     
    Last edited by a moderator: Jun 1, 2015
  2. almir012

    almir012 BANNED BANNED

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    Well done! All the best!
     
  3. Panther28

    Panther28 Jr. VIP Jr. VIP

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    Don't put all your eggs in one basket is a phrase i first think of after reading your canadian oil idea.
     
  4. Aty

    Aty Jr. VIP Jr. VIP

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    All on black, double or nothing.
     
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  5. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    As described very well here by BassTracker in an article, you should spread your activity over several businesses. I'm almost in the same boat as you, just starting up several new websites with total different activities.
     
  6. asap1

    asap1 BANNED BANNED Jr. VIP

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    Make a few websites and outsource the SEO.

    In the next 2 months they should be ranked and making at least 1-2k a month.
     
  7. raenic

    raenic Junior Member

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    Thanks, I'll take a look. I'm currently expanding into a few interests, but with my jack of all trades skillset I'm not adverse to taking up new fields or niches.
     
  8. antonjones

    antonjones Regular Member

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    I want to be in Vietnam :(
     
  9. Aatrox

    Aatrox Supreme Member

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    I would do this. I would take $10K out that money and buy/make 5 websites, outsource my rankings and see what are the results.
     
  10. raenic

    raenic Junior Member

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    While I am diversifying my portfolio, I am only exploring possibilities with higher top ends. I tend to pursue sites, niches or services that upwards of 6 figure low end potential. I've stuck with offering digital goods and services in regards to video games thus far because of the top end potential.

    My immediate plans include:
    1) A more broad video game services site, already have a premium domain from auction, a huge list of qualified buyers from my original site, and a reputation in the gaming communitites. Right now I am discussing partnerships and negotiating with suppliers.
    2) A blog focused on my travels, and business pursuits. Providing tips through my successes and failures for others to emulate the so called digital nomad lifestyle.
     
  11. raenic

    raenic Junior Member

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    Definitely my favorite place in South East Asia so far, amazing food, beautiful woman, and you can live like a king while maintaining a strict budget. Bangkok is a close second, but it's a lot more westernized for better or for worse.
     
  12. Trepanated

    Trepanated Supreme Member

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    I'd be wary of investing in oil stocks in the current climate. All it takes is for oil prices to deflate again for a while and you could easily take a huge hit. You've been sensible enough to accumulate that money over a couple of years, so don't blow it in a few months on something risky.

    Wouldn't it be better to invest it in something sensible like property? That way, you'd be sitting on an appreciating asset and also have a rental income. Plus, when you eventually finish travelling, you wouldn't have to think about mortgage or rental payments.

    It sounds like you're in a good position at the minute anyway, so you can afford to take the time to enjoy travelling whilst figuring out what the next business step it.

    On the travelling side, did you get to Laos yet? If not you should take a look - it's a stunning country with some amazing scenery and the people are great.
     
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  13. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    It has been a while since I played in that sandbox but I used to play oil periodically in the commodities market... that moves awfully fast and, unless you consider much of that Buck and a Half risk money, I'd be following Trepanated's advice there.
     
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  14. raenic

    raenic Junior Member

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    Unfortunately 150k can't really buy much property wise and I am very debt adverse. I'm specifically looking into a Canadian company that has an amazing balance sheet and is the premier supplier of oil piping. The double whammy of low canadian dollar and oil prices make it a really rare opportunity in my eyes.

    Thanks for the tip. I plan on heading there after Cambodia. From there, I'll likely be moving to Europe once my citizenship is approved. 16% flat tax in Hungary is very appealing.
     
  15. Abcxyz77

    Abcxyz77 Regular Member

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    Hey I'm from Viet nam LoL, where exactly are you? I'm in Can tho. I think you shouldn't trade oil, Forex is not easy at all. I'm about same age with you but not good as you, i only made 2k$ until now, at least you have your business to do. Now I'm fiding new things to do because the previous is dead. I spent last year to learn about Forex and i can tell you there is no equation to get rich
     
    Last edited: Apr 22, 2015
  16. raenic

    raenic Junior Member

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    I'm currently in Saigon
     
  17. Trepanated

    Trepanated Supreme Member

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    Is it an OCTG company, rather than a petroleum business? That could be a safer option depending on the company, but OCTG companies are still affected by fluctuating oil prices.

    Just be wary of the smaller exploratory outfits - Canada has a few of them and their stock prices can fluctuate wildly.

    Let me know if you head into Laos and I'll be happy to give you some suggestions. I preferred the North personally, the further up the Mekong you get, the more beautiful it seems to be.
     
  18. Abcxyz77

    Abcxyz77 Regular Member

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    Nice, have a nice trip. The only thing i want to tell you is careful with traffic, the car accident rate is high here. There are a lot of motorcycles and they drive like crazy!
     
  19. raenic

    raenic Junior Member

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    Yeah, I drive a motorbike here and it is quite the experience on a daily basis.
    PM Sent
     
  20. T0NYS

    T0NYS Supreme Member

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    This , ahaha fuck yeah , all on black