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So, I finally got some (big) money... What should I do with it?

Discussion in 'Making Money' started by Deusdies, Mar 1, 2010.

  1. Deusdies

    Deusdies Regular Member

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    I finally got a hold of some big(ger) cash. It amounts to about $20,000

    My main question: what should I do with it?

    Obviously, I want to invest it, but how? What would be the best way to invest this kind of money?

    I was thinking of buying a website (not blackhat though) that is profitable (that makes at least $1500-$2500 a month net profit). Is that a good idea?

    Any suggestions would be really appreciated.
     
  2. SuperBlackHat

    SuperBlackHat Power Member

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    ever thought about media buying?
     
  3. adrien23

    adrien23 Regular Member

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    Don't mean to threadjack, but this may help the OP as well. About media buying, does anyone know a good company on which I can buy banner ads on targetted websites? I know there's adbrite and adwords but wondering if there are better alternatives.
     
  4. Tallen

    Tallen Newbie

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    Invest it in some shares (Stockbroker like thinkorswim), if you don't want to invest yourself why not buy into a fidelity fund or something like that?

    There's fidelity China Special situations fund coming out soon, the guy who is running this new fund ran the most successful fund Fidelity had ever had. China has good investment opportunity too.

    Or buy up a website and develop it. Although if your not a skilled web developer this might just be like throwing money at a wall.
     
  5. wowhaxor

    wowhaxor Executive VIP Premium Member

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    I'll give the same advice to everyone I give that asks this question. Save it. If you know what needs to be done to scale up your current method(s) or automate them and still turn a profit then that's what you should spend cash on, if not then save it.

    I deal with a lot of this, people buy tools/programs from me to automate things but they haven't yet done it on a small scale and have no method to monetize these leads. IMO you should have things set and ready before buying a tool to take out the time consuming aspect.

    As for buying a site you need to be careful. You need to understand how to value a site and most importantly look at the time/money that is being put into traffic/promotion/maintenance to achieve what a site is currently making. If you are new to website flipping there is a good chance you'll get screwed if you don't look at all of the aspects. I did a write up on the various aspects you need to look at when determining what to pay - if anything - for a site in order to see a good return on your investment. You should definitely read that and lurk a bit on site buying/selling forums before you try to jump in and buy a site. If you're interested you can read some of ym tips at my blog @
    Code:
    http://www.wowhaxor.com/2009/09/06/complete-guide-to-website-flipping/
     
  6. Dark Knight

    Dark Knight Jr. VIP Jr. VIP Premium Member

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    SuperBlackHat :lollypop: what a great avatar you got buddy almost make me!!!!!! sorry for :hijacked:
     
  7. sakuragi1475

    sakuragi1475 Registered Member

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    keep it in the bank and use it slowly while collecting interest. :)

    look at ways to scale up what you are currently doing bit by bit...
     
  8. bobbys

    bobbys Regular Member

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    Everytime someone comes on the forum asking how to invest a little money they've come into, the stock/options/forex monkeys seem to come out of the woodwork with their "professional" financial advice.
     
  9. hotwicked

    hotwicked Regular Member

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    Money sitting in a bank rarely draws more than a few percent in interest at best.

    Set aside a certain amount of it for emergencies (if it your entire life savings), and then invest the rest in a website or in IM of some sort.

    Stocks? Too much risk. I have long term stocks, but they don't make near what I make at IM.

    Might be a good idea to buy a couple of websites (or build them from scratch) that bring in $500-600 per month each and then build them up further. That way you are not completely invested in a single venture. An old mentor of mine always told me... diversify. I have live by that all my life and it has done me well.

    So stick back 10k for now, and invest 10k in a site or IM. Though it sounds like you have an extra 20k on top of everything and if so I would agree to invest it in websites and such. Keep things whitehat (to lower your risk) and let the sites pay for themselves then invest more.
     
  10. pgaoroagnloeid

    pgaoroagnloeid Junior Member

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    put 25% in etgf.ob (my favorite stock pick)
    put 25% into one of your existing sites
    put 25% towards paying off your car/house/loans/credit cards
    put 25% in a savings account or a CD or something.

    That's the best advice I can give.
     
  11. theleadsource

    theleadsource BANNED BANNED

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    It's only 20K, you should not buy single stocks with it. Spread it out between several mutual funds minimizing your risk.

    Not to talk down to you but if this is considered by you to be a lot of money, please seek the advice of a local professional in your area.
     
  12. Deusdies

    Deusdies Regular Member

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    Thanks all for your tips.

    A couple of things: I have no loans, credits whatsoever.

    And those are NOT my life savings. Hell no. Life savings are far bigger, but, obviously - I don't want to spend them (hence the name savings)

    @theleadsource - I'm 18 years old :D
     
  13. theleadsource

    theleadsource BANNED BANNED

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    I'm 52 years old and if I was 18 with an extra 20K, I would put it in a couple of different growth mutual funds.

    Mutual funds will spread the risk and having two or three different funds spreads it even better. A growth fund has a good chance (especially with the way this economy is now) of getting you the best bang for your buck and at your age you can handle the risk associated with growth funds.
     
  14. hotwicked

    hotwicked Regular Member

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    The buy some established sites like you planned. That is a good thing. Though be careful and make sure it's actually making the money it's claiming to be making (I am sure you know).

    That's the quickest way to make some decent money. Otherwise I would say just start a few new sites from scratch and use the money for content, design, etc.

    Good luck!
     
  15. noph34r

    noph34r Regular Member

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    20k is not big money but is enough to start to build your own site/product.
    It's time to mind mapping and get an idea, whatever idea but profitable.
    Don't keep in bank,
    money never sleep
     
  16. Rockin

    Rockin Junior Member

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    Dude you're 18 set aside 10k for savings/taxes, and spend the rest. Invest some in IM, but use most of it to live like a king. If you're still in high school or going into college. 5k can get you through at least a year of fun times, and adventures. This is the only time in your life you have the chance to live like a king for so little (at least if you live in the US).
     
  17. hotwicked

    hotwicked Regular Member

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    Invest it right and he can live like a King the rest of his life. 10k? Living like a King? That is an awful small kingdom and very shortsighted.

    It is also NOT the only time in your life to have fun and adventure. Life is what you make of it and that fun can last for your entire life. You make it sound like once you are in your 30s or 40s life is completely over and the fun stops.

    Simply ain't true! ;)
     
  18. Rockin

    Rockin Junior Member

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    I don't mean that at all. You can't live like a King for life on 10k, unless you're a very good investor. My point is as a teenager or someone in their earlier 20s 5k can go a lot further then it will down the road. At least based on what I have seen it seems that way.

    For instance when someone in my family (Talking Uncles, Aunts, etc) wants a nice car they are spending 50-100k on it. If I wanted a sweet car I would spend maybe 30k. Its the same with housing if they want a nice house they spend 1 million plus on it, if I want to live in a penthouse (its a penthouse for college students at least lol) near my college it costs me 800 a month. I just figured naturally costs go way up as you get older and older.
     
  19. bluehat23

    bluehat23 Registered Member

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    buy gold mate. this whole economy thing is coming tumbling down sometime very soon
     
  20. profile

    profile Regular Member

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    head on to vegas and let it roll