What do you do with your profits? Invest? Trade? - Have you thought about your retirement yet?

31 replies
Hi Warriors. You probably know of the saying 'It takes money to make money'.

Lately I have been in the fortunate position to make a bigger profit than I know how to spend so to say. And I have always been interested by stock and forex markets.
So now that I have some spare change I am thinking of putting it to use.
Not by putting it in a savings account but let it work.

I haven't wrote down the details yet but ideally I would like to invest a certain amount every year.
Let's say I have 10k to invest every year.
  • I would like to put 40% of that into bonds.
  • I would like to put 10% into a savings account.
  • I would like to take 30% and invest in some DRIPs
  • The other 20% I would like to play with. Get my feet wet in commodities like gold and silver. Not so sure about FOREX though.

Anyway, of course this is money that I can afford to lose.
I was wondering if anyone here has thought about or is already doing something similar to this?

I mean, you would like to retire comfortably right?

Let me know what you are up to!
#invest #profits #retirement #thought #trade
  • Profile picture of the author BloggingPro
    I've never really thought about what I'm going to do with my profits in the long term. Right now I'm enjoying the fact that my car payment and insurance is paid every month and I still have a little mad money left over. Of course I also pay my costs out of my revenue first before anything else.

    On top of that I still have my nine to five job--thus it allows me to save more money. I guess I'm just going to pile it into the savings account until I can figure out what my next step is going to be.

    I'm at the point where I'm just kind of coasting, while I figure out which facet of my business I want to scale upwards.
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    You're going to fail. If you're afraid of failure then you do not belong in the Internet Marketing Business. Period.
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  • Profile picture of the author Tim_Carter
    * Buy food
    * Pay mortgage
    * Buy fun stuff
    * Vacation
    * Save for retirement
    * pay for my families livelyhood.
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    • Profile picture of the author Mrmuscle90
      Im only 20 so im not worrying about retirement just yet, just living the life of a player at the mo lol
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      • Profile picture of the author BloggingPro
        Originally Posted by Mrmuscle90 View Post

        Im only 20 so im not worrying about retirement just yet, just living the life of a player at the mo lol
        Not to rain on your parade or anything but what happens when for whatever reason you are unable to do whatever it is you do to make money? Nothing wrong with living it up, but its good to have some money saved somewhere.

        The only thing I personally really worry about is breaking my hands. It would be really hard for me to continue my online income if I can't type lol.
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        You're going to fail. If you're afraid of failure then you do not belong in the Internet Marketing Business. Period.
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        • Profile picture of the author jgant
          Originally Posted by BloggingPro View Post

          Not to rain on your parade or anything but what happens when for whatever reason you are unable to do whatever it is you do to make money? Nothing wrong with living it up, but its good to have some money saved somewhere.

          The only thing I personally really worry about is breaking my hands. It would be really hard for me to continue my online income if I can't type lol.
          Buy disability insurance. I've seen many people who can't do their vocation end up in bad shape financially. Insurance is a great way to protect yourself and your family. Talk to a broker and get informed. There's tons of plans. I bought a plan that pays to age 65 (versus paying for only 2 or 5 years). As your IM income increases, you can buy plans with higher payouts.
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      • Profile picture of the author Robert Brauer
        Originally Posted by Mrmuscle90 View Post

        Im only 20 so im not worrying about retirement just yet, just living the life of a player at the mo lol
        Hahaha...I like it!

        Think how much of a player you'd be if you retired before 30!!
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      • Profile picture of the author LaLaLives
        Originally Posted by Mrmuscle90 View Post

        Im only 20 so im not worrying about retirement just yet, just living the life of a player at the mo lol
        Retirement planning is a long-term process, player. It's not something that you wait until the last minute to do.

        Think about it, if you can stack $10 grand per year for the next 40 years, you end up with $400,000 by the time you're 60. If you wait till age 40 to start saving, however, then you only end up with $200,000. Which do you prefer?

        A common misconception for young people is that retirement planning is a conversation for older people. In reality, however, it's the precise conversation that 20-somethings need to be having right now.
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  • Profile picture of the author SeanSupplee
    The nice thing about working online is you can continue to invest and grow your yearly income. I plan on doing this stuff even when im 70 years old lol. Of course you should always sock a percentage away just encase
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  • Profile picture of the author Jake Gray
    Does having a piggy bank count? :rolleyes:

    I never have time to spend the money I make. After all, I'm not
    in a rush to spend any money.
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  • Profile picture of the author christopher jon
    1. Beer
    2. Gambling (stock market, forex, day trading, sports betting, real estate)
    3. The wife
    For those of us who aren't high rollers yet, simplified...
    1. beer
    2. girls
    3. rent
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    It buys my product or it gets the hose
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  • Profile picture of the author chaddo
    Do domain flipping, website flipping...

    That is what I do whenever i want to retire, but sooner or later I realise I can earn a lil Bit more... So again I spring to action
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  • Profile picture of the author Apollo-Articles
    Read this it's free:

    https://www.richdadworld.com/powerpack.html

    It will teach you a great deal about investing and the opportunities available. However I must say commodities (Gold, Silver) seem risky to me since they seem to be peaking, although if your able to sit tight I can still see them getting higher in the short term.

    Just remember to not invest anything you can't afford to loose, and to save at least three times your monthly outgoings.

    Oh, and speak to a financial advisor!

    Feel like sharing any of your methods which have earned you money?

    Sam

    P.S. Got my first Clickbank cheque through the post today, just felt like sharing that!
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  • Profile picture of the author Sarah Russell
    Reinvest in business, pay off personal debts (student loan, mortgage, etc) and spend way too much money on iphone apps...
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  • Profile picture of the author JamesGw
    I'm only 22, so I'm just doing whatever with them. As with lot of other people, I also work a full time job (also as an SEO), so income from IM is basically supplementary.
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  • Profile picture of the author SB274
    You definitely are on the right track my planning it out. I find that when I don't budget I will spend way more than I really want to in certain areas.

    For me personally, I would take at least 50% and reinvest to grow my business. Invest 25% and have fun with the remaining 25%. As far as the retirement issue goes... I would look toward building up your business and then selling it when you want to retire - that will provide a nice chunk of change years down the road.

    I haven't wrote down the details yet but ideally I would like to invest a certain amount every year.
    Let's say I have 10k to invest every year.
    • I would like to put 40% of that into bonds.
    • I would like to put 10% into a savings account.
    • I would like to take 30% and invest in some DRIPs
    • The other 20% I would like to play with. Get my feet wet in commodities like gold and silver. Not so sure about FOREX though.

    Anyway, of course this is money that I can afford to lose.
    I was wondering if anyone here has thought about or is already doing something similar to this?

    I mean, you would like to retire comfortably right?

    Let me know what you are up to!
    Signature
    "Make it so today is not like yesterday, and tomorrow will be different forever." -Anthony Robbins
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    • Profile picture of the author WebRank1
      Originally Posted by Apollo-Articles View Post

      Read this it's free:

      https://www.richdadworld.com/powerpack.html

      It will teach you a great deal about investing and the opportunities available. However I must say commodities (Gold, Silver) seem risky to me since they seem to be peaking, although if your able to sit tight I can still see them getting higher in the short term.

      Just remember to not invest anything you can't afford to loose, and to save at least three times your monthly outgoings.

      Oh, and speak to a financial advisor!

      Feel like sharing any of your methods which have earned you money?

      Sam

      P.S. Got my first Clickbank cheque through the post today, just felt like sharing that!
      Thanks Sam, I will definitely read through that. I am also very busy reading all the content on Investopedia.
      I have earned and am still earning through affiliate marketing. This is actually most of the profit that I want to invest with.
      My key business is in social media marketing and SEO for small and medium sized local businesses. This business pays the bills amongst other things and the affiliate income is pure profits.

      Originally Posted by BIG Mike View Post

      This is actually an excellent topic because it's surprising how many folks in IM don't really plan that far ahead.

      We have a Reserve account we dump cash into every month that I manage for the partners. It has assets in the low six figure area and is earning 14% so far.

      They key is to spread out your portfolio into multiple areas ranging from safe to high risk. And don't just think of stocks as your investment vehicle - invest in local businesses, private loans, etc.

      In other words, we put the money we don't have a need for right back to work for us.
      It is indeed surprising to me. Especially because it seems that a lot of people are looking for methods to make money while sleeping and what not. Guess what, if you do your due diligence and stick to your strategies the assets you are talking about are the closest most people will ever come to getting rich while sleeping.
      Btw 14% is nothing to sneeze at! Good job.

      Originally Posted by JamesGw View Post

      I'm only 22, so I'm just doing whatever with them. As with lot of other people, I also work a full time job (also as an SEO), so income from IM is basically supplementary.
      If you start taking your IM profits and make that money work for you, you could well be a millionaire by the time you want to retire.

      Originally Posted by LaLaLives View Post

      Retirement planning is a long-term process, player. It's not something that you wait until the last minute to do.

      Think about it, if you can stack $10 grand per year for the next 40 years, you end up with $400,000 by the time you're 60. If you wait till age 40 to start saving, however, then you only end up with $200,000. Which do you prefer?

      A common misconception for young people is that retirement planning is a conversation for older people. In reality, however, it's the precise conversation that 20-somethings need to be having right now.
      Exactly, and it is not just that you end up with 40x $10k either, if you take the dividend payouts from stocks and interest on debt assets (like bonds) you will end up with a LOT more than $400k.
      Like Mike said, the key is to build a diverse portfolio. Take some low risk (debt based assets like, loans, bond etc) and some higher risk (DRIPS and stocks) and some more high risk like commodities and FOREX.
      The potential losses and profits are different in every category but it all comes down to making your money work for you. To my opinion at least.

      Originally Posted by Kevin Pojezny View Post

      You definitely are on the right track my planning it out. I find that when I don't budget I will spend way more than I really want to in certain areas.

      For me personally, I would take at least 50% and reinvest to grow my business. Invest 25% and have fun with the remaining 25%. As far as the retirement issue goes... I would look toward building up your business and then selling it when you want to retire - that will provide a nice chunk of change years down the road.
      I should have clarified, the profit I intend to take to the market is after reinvestment in my key business.
      And of course the exit strategy of that business is selling it

      Thanks all for your stories. Great reading!

      Regards,
      Mark
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  • Profile picture of the author Michael Ten
    Do I think about retirement? Ummm. Yes.
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  • Profile picture of the author fullmatrix
    I think your plan seems good enough, but I'd like to suggest to invest something for your health like health insurance etc.

    My personal choice is to invest on conventional business offline, make it a hands free business and let professional workers handle it.
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  • Profile picture of the author Bank
    Split your personal investment portfolio between cash, real estate, blue chip stocks and short term trading, put the majority in the first 3 asset classes and once you're profitable in short term trading step up your investment there. Remember there's always a higher ROI in business plus you can influence the outcome more so than passive assets.
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  • Profile picture of the author WebRank1
    Thanks for all your comments.
    I am still a little confused as to why so few people think about investing one way or the other.
    I guess it is a personal preference.

    Regards,
    Mark
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