Extra $5,000 to $10,000 inheritance

28 replies
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
  • Profile picture of the author 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)
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    • Profile picture of the author lloydmc
      Originally Posted by beasty513 View Post

      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.
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      • Profile picture of the author beasty513
        Originally Posted by lloydmc View Post

        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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    • Profile picture of the author thisisraz65
      Originally Posted by talfighel View Post

      Use most of it to buy pay per click ads.
      facebook or bing?
      Signature
      No signature right now
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  • Profile picture of the author barbling
    Pay for a proven mentor who can guide you in taking your business to the next level.
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  • Profile picture of the author lloydmc
    Any recommendations for paid solutions for building a list, other then solos...?
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  • Profile picture of the author CyberAlien
    Originally Posted by lloydmc View Post

    (also, is it taxable income?)
    Are you referring to the money from your inheritance or the money earned from whatever you invest it in?
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    • Profile picture of the author lloydmc
      Originally Posted by Escalate Internet View Post

      Are you referring to the money from your inheritance or the money earned from whatever you invest it in?
      From inheritance.
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  • Profile picture of the author CyberAlien
    Take a look here, they explain this in detail (but simple to understand): https://ttlc.intuit.com/questions/18...itance-taxable
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  • Profile picture of the author 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.
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    • Profile picture of the author lloydmc
      Originally Posted by beasty513 View Post

      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...
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  • Profile picture of the author LegendaryGuy1
    Banned
    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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  • Profile picture of the author seanmour
    "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.
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  • Profile picture of the author travlinguy
    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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  • Profile picture of the author BradVert2013
    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.
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  • 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.
    Signature
    soon people... Relax...
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    • Profile picture of the author agmccall
      I will tell you what you shouldn't do

      Ask Us.

      al
      Signature

      "If you really look closely, most overnight successes took a long time" ~Steve Jobs~

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  • Profile picture of the author Sarevok
    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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  • Profile picture of the author JosephC
    [DELETED]
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  • Profile picture of the author shakamon
    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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    I teach people how to surf waves, not the internet.
    surfcoaches

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  • Profile picture of the author cyberzolo
    Put it in the bank lol. You don't have to make a 5K investment to make good money online.
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  • Profile picture of the author tyronne78
    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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  • Profile picture of the author iLuvCash
    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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  • Profile picture of the author lloydmc
    Thank you all for your input.

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