Extra $5,000 to $10,000 inheritance

by lloydmc

Posted: 10 years ago 28 replies

INTERNET MARKETING

Might come across an inheritance of $5,000 to $10,000.

What should be done with this extra $5k? (other then giving it away)

Been trying to think hard about this. Should I throw the money into Facebook ads... build a list from Facebook?

I'm sure you can do high level things when you have the money for it, what should this money be used for?

(also, is it taxable income?)

#$10 #extra #inheritance

beasty513

10 years ago

I would use that to start a PBN.

Or for much easier route, build an email list.

What are you doing currently?

(The inheritance tax depends on where you live)

Thanks
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lloydmc

10 years ago

Originally Posted by beasty513

I would use that to start a PBN.

Or for much easier route, build an email list.

What are you doing currently?

(The inheritance tax depends on where you live)

I've been doing private affiliate product launches.

But Frankly, would like to start a 2nd source of income that doesn't demand affiliate payments.

Thanks
1 reply

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beasty513 10 years ago

Originally Posted by lloydmc

I've been doing private affiliate product launches.

But Frankly, would like to start a 2nd source of income that doesn't demand affiliate payments.

Are you squeamish about ad revenue?

Since you have been doing private affiliate product launches,
you could start an information site reviewing products.
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talfighel 10 years ago

Use most of it to buy pay per click ads.
- Thanks
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- thisisraz65 10 years ago
  
  Originally Posted by talfighel
  
  Use most of it to buy pay per click ads.
  
  facebook or bing?
  
  Thanks
  
  Signature
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barbling 10 years ago

Pay for a proven mentor who can guide you in taking your business to the next level.
- [ 2 ] Thanks
- 1 reply
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- lloydmc 10 years ago
  
  Originally Posted by barbling
  
  Pay for a proven mentor who can guide you in taking your business to the next level.
  
  Who would you recommend, people like Simon Warner or Andrew Fox??
  
  Thanks
  
  1 reply
  
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  lukeblower 10 years ago
  
  Originally Posted by lloydmc
  
  Who would you recommend, people like Simon Warner or Andrew Fox??
  
  I'm on one of Andrew Fox's lists, he offers good value. How about Donald Wilson?
  
  Thanks
  
  Signature
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lloydmc 10 years ago

Any recommendations for paid solutions for building a list, other then solos...?
- Thanks
- 1 reply
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- talfighel 10 years ago
  
  Originally Posted by lloydmc
  
  Any recommendations for paid solutions for building a list, other then solos...?
  
  Pay Per click ads is the way to go if you want great results.
  
  [ 1 ] Thanks
  
  1 reply
  
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  lloydmc 10 years ago
  
  Originally Posted by talfighel
  
  Pay Per click ads is the way to go if you want great results.
  
  Thanks Tal, I believe deep in my heart that paid advertising is the way to go too...
  
  Thanks
  
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CyberAlien 10 years ago

Originally Posted by lloydmc

(also, is it taxable income?)

Are you referring to the money from your inheritance or the money earned from whatever you invest it in?
- Thanks
- 1 reply
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- lloydmc 10 years ago
  
  Originally Posted by Escalate Internet
  
  Are you referring to the money from your inheritance or the money earned from whatever you invest it in?
  
  From inheritance.
  
  Thanks
  
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CyberAlien 10 years ago

Take a look here, they explain this in detail (but simple to understand): https://ttlc.intuit.com/questions/18...itance-taxable
- [ 1 ] Thanks
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beasty513 10 years ago

If you are going to do PPC, your content needs to
be targeted in order to gain any response.

If you don't have any experience, tread carefully.
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- lloydmc 10 years ago
  
  Originally Posted by beasty513
  
  If you are going to do PPC, your content needs to
  be targeted in order to gain any response.
  
  If you don't have any experience, tread carefully.
  
  Thanks...
  
  I guess its safe to assume PPC is not as easy as throwing up a squeeze page and bidding high for Keywords...
  
  Thanks
  
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LegendaryGuy1 Banned 10 years ago

I'd recommend building a list. The money is in the list which is why you desperately need to make one. You can spend most of the money buying PPC ads on Facebook and Google or if you want to get certain amounts of click, you can get yourself a solo ad. This is where you pay someone else with a list to promote your list. It can easily grow your list especially if you offer a free incentive so if I was you, I'd make a free guide or audio track to go with it.
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seanmour 10 years ago

"Built a list" blah blah blah.

"Buy pay per click" blah blah blah.

So vague. Oh yeah, it's supposed to be vague so he hits you up to pay you for 'mentoring'.

Hey if I got $5k randomly I'd start a few blogs and outsource them for content and a dope design and start affiliate/adsensing it out.
- Thanks
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travlinguy 10 years ago

The last thing you should do is come to a public forum and ask what to do with so much money. People here mean well but many have no clue at all. No one knows your strengths or weaknesses but almost everyone will still have well meaning suggestions.

I'd say take 90% of it and lock it into an account you can't touch for at least a year.

Then watch how fast you go through the 10% and realize the other 90% would have been gone right behind it had you not protected it.

And yes, you'll owe tax on it. Good luck.
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BradVert2013 10 years ago

Talk to an accountant before you do anything. You might have to pay taxes on that inheritance. Talk to a financial advisor to help you make the money last longer so you're not just throwing it all into IM.

Only qualified individuals (accountant, lawyer, etc) can give you sound advice. An Internet forum is probably not the best place to advertise you're in line for a big inheritance.
- Thanks
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HelpingYouBeAnExpert 10 years ago

Keep in mind $5000 is not what you get in some countries check with your accountant how much of that will be taken from you so you know the final amount. I know people who spend it then the agents come threatening later.
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- agmccall 10 years ago
  
  I will tell you what you shouldn't do
  
  Ask Us.
  
  al
  
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Sarevok 10 years ago

Don't spend a penny man...

NOT UNTIL you know what you want to do.

The problem you might encounter is that you're bombarded with endless recommendation.

The smart move? - Do what you want.

Just my $.02
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JosephC 10 years ago

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shakamon 10 years ago

I personally would try and find an existing website i could purchase that already has traffic and maybe some income, that i could improve.
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cyberzolo 10 years ago

Put it in the bank lol. You don't have to make a 5K investment to make good money online.
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tyronne78 10 years ago

Here are a few type of businesses you could start with that 10k inheritance:

-Fulfillment By Amazon (FBA)
-Pay Per Call Business
-SEO Local Client Consulting
-E-commerce
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iLuvCash 10 years ago

I would start building a list. Buy a solo ad course and learn how it works.

Start buying solo ads from trusted sources. Once you get a good sized list start ad swapping then start selling affiliate products and sell your own solo ads.

Then use PPC and capture emails from a squeeze page.
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lloydmc 10 years ago

Thank you all for your input.

It is very good to know other people's take on a situation like this...
- Thanks
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