If You Were Earning 6 Figures A Year...

As much as I love dreaming about "what I will do when I get there", we really need to take it one step at a time.

Don't get me wrong I am extremely guilty of thinking ahead, but I think it is something a lot of people get trapped in!

Gotta Crawl Before You Ball

That said, I certainly have a number of online and offline businesses I will invest in when I am financially in a position to do so with my IM business.

Good Luck Friend,
Chris

I am not at 6 figures yet, but I am making a full time living online, and I am investing in silver, food, and land before the economy collapses (not trying to start a political debate, just answering the question lol).

I agree with Chris.

Thinking about what you would like to do with your money does not produce more money.

But to answer your question, I would take my money and invest it back into the internet The return on investment online is greater than anything I can find offline.

Personally, I'd always invest in businesses that have got good long term residual income generation, with minimal overheads.

So the publishing industries are always good, affiliate marketing businesses etc.

Things which can carry on earning income for years, with little or even zero overheads to manage those assets.

Real Estate is okay, but, it has high maintenance costs, both in repairs, but also in management costs.

I have to agree with TBInternetMarketing

Invest it back into whatever made you 6 figures a year, and try to make 7 (or 8?!?) figures!

Ahhh yes.....that ever ending question of what would I do?????

I am materialistic, so I know that I will be spending a portion of it.....
Re-Investing in the business;
Securing the future with stocks, bonds, mutual funds, etc;

and probably creating some form of home or retreat for animals that have suffered, been abused or are in the process of living their last days on earth......(call me a softy)......

I wouldn't be on this blog looking for ways in increase my income and I would not be getting scammed from some of these WSO who think its funny.Its really not. What comes around goes around, we call it Bachi!!!!

Diversify like crazy. Real estate, franchises, stocks, building brands online, etc.

Real estate baby!

Nothing better then buying an apartment complex and having them pay you every month. Once it's paid off by THEM, it's all profit.

As a Futures/Forex Trader for the past 9 years my first advice would be to NOT invest in the stock market (no long term holdings - NONE). There are so many mind boggling structural problems throughout the worlds financial system that are currently being hidden through unending liquidity pumps (from disgusting and dysfunctional centralized banking entities - which are all privately held). The stock market is used to extract wealth from the uninformed and pass it over to the informed...SMART money LOVES to take DUMB money month after month.

I make very strong six figure income as a trader, but my advice to those building wealth and multiple income streams through IM - STAY LIQUID!!!

Don't start buying properties all over as you build wealth, just keep EXPANDING your IM businesses (through some reinvestment). Leverage portions of your wealth into additional income streams from new ventures - just keep building new businesses in your areas of expertise - leverage what you know! This will by far provide a better ROI than getting conned in the stock market from some junk fund!

I personally don't ever keep large amounts of money in banks, and with the recent MF Global high tech theft of traders segregated accts, I no longer keep large amounts of money in my trade accts (with the three separate brokers I use). I do hold physical gold and silver positions that I have built up over 4.5 years (which are NOT in bank safety deposits boxes - heck no!). I also hold cash in several currencies which I feel would most benefit from any next major bank/financial system meltdown (NOT Euros or Dollars - heck no - LOL!!!).

The new times we live in create a need to get very creative with wealth preservation and expansion. I like to have what I call "mobile assets" or to others - aircraft. I also like to have lots of liquid assets that can be moved fast if needed (currencies, gold & silver, some diamonds are even a good play, etc). For those who think they MUST own properties then I say buy OUTSIDE the US in developing areas (South America is one good example). I stopped BUYING properties in the US in 2006 and I currently have no mortgages and no additional debt. If you need something in the US then rent or buy low wholesale (bank owned, distressed seller, etc). Don't buy properties as an investment is my advice - not in the US.

Leveraging portions of your wealth into additional income streams is by far the best game in town - one that YOU have control over and not the dysfunctional economy or volatile markets. Your main enemy will be the eventual US dollar hyper devaluation in the face of impossible to fix govt spending/debt. Get educated on ways to protect your wealth from rapid currency devaluations, as you focus on building additional income streams - this is the way to beat the game that has been designed so most of the masses lose.

Long Time ago when I havent have $10.000
I was dream if I had $10.000 I can make alot of thing ( business, invest and so on )

Now when I have that Money , I dont know also what to do with that

Then I am thinking, Ideas is more make you success in life compare then money..

But my answer for your question, I will do recycle business ( mobile phone, computer or cars dipending the money ) small invest big profite.

just my opinion.
Kom

Hi:

Shireen here :-)

I'm investing in offline printing business & apartments

I'd pay down my debts before "investing" in investment items.

That is just the way I am... I feel that eliminating debt is the best investment I will ever make.

Once I have eliminated all of my debt, then I would start looking at where I could put my money for the greatest return.

First and foremost is paying off debt.

Then (in this order) I would invest in my education, my emergency savings, and then my future. As far as diversifying for business, it doesn't really interest me. This is more of a means to an end kind of thing rather than a lifelong career that would require me to diversify.

I would probably use my six figure income to improve my general quality of life..

I agree with joe128139 regarding investing in education, that is something that is vital for working in the fast moving industry of the internet.

And maybe saving towards retirement

I basically take money from my main income streams and do two things. 1) create new income streams, and 2) invest in stocks.

I used to be a financial planner before I became a full time IMer so I can add some value here. Really, it depends on your age, your time horizon, your risk tolerance, your income, your assets and liabilities, the kind of insurance you'll need for yourself and your business, your core competencies, etc.

There are so many factors involved that there's no such thing as a formula or cookie cutter answer.

However, in general terms, people should get rid of their debt first. In some scenarios you can pay down debt and put your money toward a retirement fund as well as toward an emergency fund with no less than 6 months of living expenses. If you have any kinds of assets such as a home, a business, stocks, etc. you should also have some estate planning in place. You should always have a plan mapped out in the event if you become disabled or if you die.

Once all that is taken care of, then and only then should you think about investing in other things. Taking care of your family and your debt should be top priorities. Once you have money to invest it's wise to:

1. Invest back into your business until you've achieve your financial / growth targets.
2. Diversify.
3. Meet with a business financial planner to plan out an investment and tax strategy for the upcoming years. The vast majority of people pay more taxes than they have to because they think going to competent financial planner is too expensive, but in many cases, it's more expensive NOT to go to one.

I earn my income from 4 places:

1. Online and offline businesses.
2. Real estate
3. Investments (mutual funds, stocks, warrants, etc.).
4. Intellectual property (licensing, patents, etc.)

What's great about most economies these days is that there are thousands upon thousands of places to invest your money in. So always do your research and always get everything in writing with the proper signatures. Remember what happened to Jerry McGuire when he trusted the guy with a handshake and his word being "stronger than oak"?

RoD

Hi All,

I think I would build on my online business by finding and keeping the best employees that I could afford and trust, and then investing my money on furthering THEIR education and making them happy to be there so that THEY could enjoy working and earning for ME.

And maybe one of them can help me break down my writing into several sentences instead of one long one!

Joe

I'd invest in real estate.

I would reinvest back into the business that is earning me the 6 figure net income and make it grow.
I would also buy a house, maybe a three flat, so I can rent out two units and live in one.
Stocks/options.
Maybe a franchise depending on how much money I have and what kind of business I am in.