Looking to invest my tax return. Where do I start?

by mobinc
22 replies
I'm looking to invest my tax return money into something solid. Any ideas? I've been doing a lot of research in dropshipping. Looks promising to me. If u guys got any ideas I would love to hear em.
#invest #return #start #tax
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  • Profile picture of the author Daniel Evans
    Can you elaborate upon 'Tax Return money'?

    A 'Tax Return' is giving money, so that's a bit bizzare.

    To garner any useful advice, you'll need to share more about yourself - namely what you have of value which you can offer people. That will help narrow it down.


    Just don't spend your tax return.
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  • Profile picture of the author Randall Magwood
    Before you do dropshipping, you should know that you're going to run into alot websites whose dropshipping fees/prices are exorbitant. If you can buy at wholesale of something (such as jewelry) and sell then do the shipping yourself, that would be great.

    You can mark them up and sell on ebay and your own website. But i've been on alot of different dropshippers, and the cost to ship a product using their services are ridiculous. In one occasion i sold a $300 item and only profit $10 from it from the dropshipping service i was using.
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  • Profile picture of the author jmosticc22
    It may look promising but don't just jump into something, take some time to learn what it will take to run the business inside and out before you invest any money.
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  • Dropshipping is not something solid. You need time to learn and do a lot of testing in order to get sales. Unless you have the passion and determination to success in online marketing, otherwise I think investing in real estate will be more solid.
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  • Profile picture of the author writeaway
    If you're looking to maximize Return on Effort

    You can go into autoblogging using curated (not original) content and monetized via CPA offers.

    Minimum work (due to automation), scalable results

    You can also look into selling 'incubated' sites (starters with traffic) by bundling services

    There are so many possibilities

    And both of these suggestions cost less than $50
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  • Profile picture of the author MSutton
    Originally Posted by writeaway View Post

    You can go into autoblogging using curated (not original) content and monetized via CPA offers.

    What do you suggest for software that chooses content to curate and then autoblogs it?
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  • Profile picture of the author webmarke
    You should start by not investing 1 cent until you know what you are doing.


    If you are going to invest in something , then invest in some kind of training. Hire, a coach or take a course about internet marketing.
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  • Profile picture of the author IGotMine
    Can you elaborate upon 'Tax Return money'?

    A 'Tax Return' is giving money, so that's a bit bizzare.
    In the US a "tax return" is money you get back at the end of the year because you over-paid upfront.

    Any ideas?
    Just give it to me. I'll cut out the middle man who will tell you how awesome your life will be if you just buy their "course."

    I'll still tell you, you will get rich if it helps.
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  • Profile picture of the author MSutton
    For those of you that are confused, the title of this thread should be


    Looking to invest my tax REFUND. Where do I start?

    It's pretty obvious to anyone who has filed a tax return. lol
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  • Profile picture of the author mobinc
    I am currently pursuing my digital marketing associates degree. So I've been learning the ins and outs of the business. I want to put my time and effort into dropshipping. To me it seems promising as long as I keep my burning desire to succeed
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    • Profile picture of the author DWolfe
      [QUOTE=mobinc;11486905]I am currently pursuing my digital marketing degree. So I've been learning the ins and outs of the business./QUOTE] What is it costing to purse the degree ? It costs money to get the degree no ? Put your tax refund there to pay for the degree. Its better then racking up debt, and possibly lose money you would spend on a drop shipping project. IMHO
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    • Profile picture of the author DWolfe
      What is the cost to purse the degree ? It costs money to get the degree no ? Put your tax refund there to pay for the degree. Its better then racking up debt, and possibly lose money you would spend on a drop shipping project. IMHO
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  • Profile picture of the author Oziboomer
    You might want to read the post savage has got going in the warrior path section.

    It is about selling product on Ebay but you can learn a lot about a variety of things that might help you.

    Read it here: https://www.warriorforum.com/warrior...days-ebay.html

    As far as investing your tax refund in drop shipping how are you going to do that?

    Are you going to use your money to set up a website and pay for advertising?

    Unless you have good connections with real wholesalers who give you great margins the drop shipping route won't generate much return for you unless you get a lot of free traffic and building something up to a point where the organic traffic is driving sales can be a tough road.

    If you pay for traffic it can be quicker but that is where the erosion of the small profit from drop shipping can be easily eaten up.

    If you take a look at the Ebay post I suggested and maybe consider selling as an Amazon affiliate or taking it to the next level of selling on Amazon you might get a better return on your investment right now.

    If seriously considering drop shipping then look for products from real wholesalers where there is demand but not a tough niche to rank in.

    If you join the various hordes of others trying to drop ship the same old crap you will not have easy success.

    Best regards,

    Ozi
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  • Profile picture of the author MSutton
    I'll be perfectly honest to you. A "Digital Marketing" degree is worthless, especially an Associates Degree. You won't lean much practical world experience and you will be hard-pressed to get a job with that degree that pays more than $15/hr.



    But if you are dead set on the degree, then forget spending money on dropshipping. Use it to pay for the degree.
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  • Profile picture of the author mobinc
    Yea a lot of the stuff that they are teaching I already knew. It is not as in depth as I thought it would be. And it's costing me 18gs for the degree!!! I've been doing a lot of research and I think I'd rather pay for a specific course, website and advertisement, rather than using it to get a degree that'll only land me 15-20 an hour when I graduate. What u guys think?
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    • Profile picture of the author DWolfe
      Originally Posted by mobinc View Post

      Yea a lot of the stuff that they are teaching I already knew. It is not as in depth as I thought it would be. And it's costing me 18gs for the degree!!! I've been doing a lot of research and I think I'd rather pay for a specific course, website and advertisement, rather than using it to get a degree that'll only land me 15-20 an hour when I graduate. What u guys think?
      Have you looked into MOOCs like EdX or others that have some of those topics and more that are free unless you pay for a certificate ? That way you can defray some of that cost. MSutton has some sound advice in the post above mine.
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  • Profile picture of the author MSutton
    Nobody can tell you what to do. But it is no secret that most college degrees are useless and especially most associates degrees.

    College is a big money-maker these days. It's all about putting people into debt. It really is. I personally have a 4-year business degree and I can tell you I learned NOTHING from it. I also have a $30K loan which I have no intention on ever paying back in full before I'm dead.

    If you want a college degree with a high chance of getting a decent job, you have to get in to the STEM fields. If you live in a small area where there aren't a lot of STEM jobs and are not willing to move, then you have to get a diploma in an in-demand trade.

    But even if you get a 4-year degree in a STEM field, it;s still a huge gamble. Anymore, it has gotten to the point where you need to get a masters degree to get a decent-paying job.

    I'm not telling you not to go to school. That's ultimately your decision. I'm telling you to choose wisely.

    College is NOT about studying what you want to study. It's about studying what will bring in the best rate of return for you once you graduate, assuming you pursue a job and are willing to jump around and climb the ladders in the JOB world. Lots of people, especially those right out to high school, go to college and study worthless areas that will never bring in money and then they have no choice but to get a masters in something worthwhile. the universities and colleges encourage them to study what they like. They are part of the scam along with the banks and the government.

    But if you ain't willing to climb those ladders and jump those hoops, all that college degree is gonna get you is a HUGE debt you will likely never pay off. I call this being is the "new slave".
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  • Profile picture of the author brentlantzy
    I love how everyone suddenly becomes a straight-laced financial planner when someone asks what to do with a windfall.

    To be honest, I want to agree. First, you should probably up your exemptions so you aren't giving the government a free loan all year long. Second, you should make sure you're setting aside savings...

    But nobody wants to hear that tired stuff. The truth is that blowing some money on a good learning experience isn't as much of a waste as it may seem.

    You're already spending $18M on college. So if you drop a couple thousand on this dropshipping project and you have no idea what you're doing, you'll probably lose a good chunk (or, maybe not).

    But you'll have got more and better experience for your money than what you'll ever get from college.
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  • Profile picture of the author naviown
    What about crypto currency?
    Right now whole crypto market is down and in my opinion it's perfect time to start buying solid project coins like btc,eth,ltc,xrp. Also STO's (security token offerings) are great opportunity to invest in coins which have some sort of security so you won't be scammed like in other ICO's.

    So in my opinion it's perfect time to jump into crypto world as in the future cryptos will be huge.

    Good luck!
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  • Profile picture of the author Nina Petrov
    Dispite what you've heard drop shipping isn't easy. I've tried it. It's too competitive, too many problems, customers are never happy, tons of refunds and returns and scammers. Tons of work. It's not passive at all. Plus it's very competitive. The only way you'll make money is if you come up with a very unique selling proposition. Which is not easy. Then to make matters worse you're under the umbrella of a big auction site. So just when things might start going well, maybe they close your account for no good reason. It happens even to powersellers. It's not worth it in the long term. Instead what you could do is maybe search around for various types of passive income systems. I know there's one called coinanc. Or possibly look into affiliate marketing. Create a big list of maybe 50 ideas. Brain storm. Narrow it down to your very top 3 and try and then try them one by one. Also pm me and I'll show you a few good ideas. Good luck.
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