Extra $5,000 to $10,000 inheritance

by lloydmc

Posted: 9 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

9 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
1 reply

Signature

Want to make money online?!?! Join the Digital Cash Tycoon team and see a change!
CLICK HERE!

{{ DiscussionBoard.errors[9146397].message }}

lloydmc

9 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

{{ DiscussionBoard.errors[9146415].message }}

beasty513 9 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.
- Thanks
Signature

Want to make money online?!?! Join the Digital Cash Tycoon team and see a change!
CLICK HERE!
{{ DiscussionBoard.errors[9146434].message }}

talfighel 9 years ago

Use most of it to buy pay per click ads.
- Thanks
- 1 reply
Signature
******* $7,000??*******
{{ DiscussionBoard.errors[9146413].message }}
- thisisraz65 9 years ago
  
  Originally Posted by talfighel
  
  Use most of it to buy pay per click ads.
  
  facebook or bing?
  
  Thanks
  
  Signature
  No signature right now
  
  {{ DiscussionBoard.errors[9147097].message }}
barbling 9 years ago

Pay for a proven mentor who can guide you in taking your business to the next level.
- [ 2 ] Thanks
- 1 reply
Signature

==> My Latest! <<
==> Zero Cost MMO eClass! <<
{{ DiscussionBoard.errors[9146425].message }}
- lloydmc 9 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
  
  {{ DiscussionBoard.errors[9146455].message }}
  
  lukeblower 9 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
  Use This Super Cheap System To Get Your Affiliate Marketing Kick Started
  
  {{ DiscussionBoard.errors[9150202].message }}
lloydmc 9 years ago

Any recommendations for paid solutions for building a list, other then solos...?
- Thanks
- 1 reply
{{ DiscussionBoard.errors[9146450].message }}
- talfighel 9 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
  
  Signature
  ******* $7,000??*******
  
  {{ DiscussionBoard.errors[9146460].message }}
  
  lloydmc 9 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
  
  {{ DiscussionBoard.errors[9146473].message }}
CyberAlien 9 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
{{ DiscussionBoard.errors[9146467].message }}
- lloydmc 9 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
  
  {{ DiscussionBoard.errors[9146471].message }}
CyberAlien 9 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
{{ DiscussionBoard.errors[9146477].message }}
beasty513 9 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.
- Thanks
- 1 reply
Signature

Want to make money online?!?! Join the Digital Cash Tycoon team and see a change!
CLICK HERE!
{{ DiscussionBoard.errors[9146490].message }}
- lloydmc 9 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
  
  {{ DiscussionBoard.errors[9146496].message }}
LegendaryGuy1 Banned 9 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.
- Thanks
{{ DiscussionBoard.errors[9146885].message }}
seanmour 9 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
{{ DiscussionBoard.errors[9146905].message }}
travlinguy 9 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.
- Thanks
{{ DiscussionBoard.errors[9146920].message }}
BradVert2013 9 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
{{ DiscussionBoard.errors[9146924].message }}
HelpingYouBeAnExpert 9 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.
- Thanks
- 1 reply
Signature

Join Next Live Mastermind Zoominar 100% Real World Secrets to Get Up And Running. Are you Stuck? Donâ€™t miss it www.MonthlyMastermind.org
{{ DiscussionBoard.errors[9147161].message }}
- agmccall 9 years ago
  
  I will tell you what you shouldn't do
  
  Ask Us.
  
  al
  
  Thanks
  
  Signature
  
  "Opportunity is missed by most people because it is dressed in overalls and looks like work." Thomas Edison
  
  {{ DiscussionBoard.errors[9147189].message }}
Sarevok 9 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
- Thanks
Signature

Check Out My Legendary Marketing Blog By Clicking This Beautiful Text.
{{ DiscussionBoard.errors[9147197].message }}
JosephC 9 years ago

[DELETED]

{{ DiscussionBoard.errors[9147272].message }}
shakamon 9 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.
- Thanks
{{ DiscussionBoard.errors[9147467].message }}
cyberzolo 9 years ago

Put it in the bank lol. You don't have to make a 5K investment to make good money online.
- Thanks
Signature

Affiliate Marketing Blog - myonlineincomejourney.com

How To Make Money as Teenager

The BEST Success Motivation Video
{{ DiscussionBoard.errors[9147749].message }}
tyronne78 9 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
- Thanks
Signature
Visit my blog for FREE direct response marketing tips & tricks
{{ DiscussionBoard.errors[9147948].message }}
iLuvCash 9 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.
- Thanks
Signature

Can You Really Pay Only $0.01 Per Targeted Visitor?

Use The Same Traffic Source I used to Gain 476 Subscribers in 1 Day!

Click Here
{{ DiscussionBoard.errors[9147972].message }}
lloydmc 9 years ago

Thank you all for your input.

It is very good to know other people's take on a situation like this...
- Thanks
{{ DiscussionBoard.errors[9150194].message }}