What to do with $8,000?

12 years ago

I know what I would do with it. Question is: what would you do with it? This sounds stupid, but think about it. I know what I do and I know what I have. You need to figure out how $8,000 can best help you. To give you more specific advice: I would put a search in for how other people are investing their money. It may give you some ideas.

All the best!

GRM

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gjabiz

12 years ago

Originally Posted by jj1690

So i have came across a sum of money which is $8000 and I am wondering how I can invest it, What would you do with it?

it depends on YOUR circumstances, if it isn't needed for bills or for everyday living, and YOU can invest it without worry then you need to think what you want.

I suggest you segment it. Put 25% in bank. Put 25% into an Absentee Owned Business.

Put 50% to WORK. Look for ways to turn 4 thousand into 5 and 5 into 6.

If you don't need this money, this is an excellent opportunity for you to learn how to make YOUR money grow. Depends on where you live, but you might want to begin with small amounts on craigslist and look for deals which you can flip for a profit.

Work your way up the ladder over the next few months, and you could easily double, triple or do even better.

Make your MONEY make you money.

gjabiz

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sids70 12 years ago

Originally Posted by gjabiz

I suggest you segment it. Put 25% in bank. Put 25% into an Absentee Owned Business.

gjabiz

Where can you find absentee owned business for $2000? I would be curious to know...
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- Nightengale 12 years ago
  
  Why are people still answering this guy? He hasn't come back to reply or even thank people for helping him.
  
  But for the benefit of anyone else reading this thread:
  
  This question is worded poorly and consequently, the answers are all over the map. (Hint: learn to ask a better question to get better answers).
  
  The question is way too general. The OP needed to let us know some of his general goals and something about his situation.
  
  If he wants general finance advice, he really needs to look elsewhere. Since this is an IM forum, presumably, the OP wants to know how to invest the $8K in starting a web-based business.
  
  Generally speaking, he doesn't need anywhere near $8K to start a web-based business. But a good use of some of his money would be:
  
  1. A good, comprehensive IM course like Product Launch Formula: $2K
  
  2. A custom-designed website: $350 - $2500
  
  3. An e-mail service like AWeber: $20/mo
  
  4. Web hosting: $10/mo.
  
  5. Initial PPC advertising to get fast traffic and test: $500-$1K
  
  Total: $5,530.00 (on the high end)
  
  That gets you everything you need, including the how-to education, a gorgeous, custom website, everything done for you (no DIY struggles with websites, design etc.) and nearly instant results (with PPC).
  
  And you still have a nice chunk of change left over.
  
  Michelle
  
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cheehien

12 years ago

Use this money to work for YOU. Invest in SEO, Solo Ads or Banners...

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Rich Kids Marketing 12 years ago

Originally Posted by cheehien

Use this money to work for YOU. Invest in SEO, Solo Ads or Banners...

Please don't do this. Not unless you want to loose so much money trying to be profitable. The banner ads and Seo atleast, the solo ads work if you have a funnel in place.

I would suggest taking a look at coaching from a product creator. I know people who've paid $5,000 and within 2-4 months made $25,000-$115,000 making their down products.
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Joan Altz

12 years ago

Save it. Learn how to make money online without it, and then you'll know what to do with it later.

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Emily Evans

12 years ago

Originally Posted by jj1690

So i have came across a sum of money which is $8000 and I am wondering how I can invest it, What would you do with it?

Am I clear understand you that you want to invest in internet marketing? Have you got a website? What is the niche?

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sbucciarel

Banned 12 years ago

If you don't know what to do with $8K, posting it in a public forum is the best way to lose it fast. Read the forum, devise a plan for how you want to make money ... start a business. All the legwork is on you. No one is going to do it for you and it doesn't cost a cent.

After you know what your plan is, use some of the money to make that plan happen. Don't answer any pms. It'll probably just be scammers trying to part you from your $8K.

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morg2k2

12 years ago

Agree 100%

I will recommend the same.

Originally Posted by sbucciarel

If you don't know what to do with $8K, posting it in a public forum is the best way to lose it fast. Read the forum, devise a plan for how you want to make money ... start a business. All the legwork is on you. No one is going to do it for you and it doesn't cost a cent.

After you know what your plan is, use some of the money to make that plan happen. Don't answer any pms. It'll probably just be scammers trying to part you from your $8K.

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Alexa Smith Banned 12 years ago

Originally Posted by sbucciarel

Don't answer any pms. It'll probably just be scammers trying to part you from your $8K.

This.

Seriously this: you'll get at least one PM (as everyone who starts a thread like this does) offering you "a chat on Skype", which is a free prelude to an expensive coaching service about which many have complained, and at least one PM from someone trying to sponsor you into "Pure Leverage" and/or "Empower Network". If/when you get these PM's, please report them to the moderators, using the little red triangle-button in the top, right-hand corner of each, because that really does help to make the forum a better place for all of us, and nobody can do anything about them if they're not reported. Private message spam isn't allowed.

Thanks in advance, and good luck!

.
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superwar

12 years ago

spend it on Adsense Empire.

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Brent Stangel

12 years ago

What would you do with it?

Invest it in a good coaching program.

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jemacb 12 years ago

Originally Posted by Brent Stangel

Invest it in a good coaching program.

I agree with Brent. Are you new to Internet Marketing? What is your experience? Ask and answer these questions to determine 'where' your are in life.

May I suggest that if you decide to invest, invest in something that provides residual income. Do not invest in something that you have to trade your time for money.
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Rageki

12 years ago

Originally Posted by jj1690

So i have came across a sum of money which is $8000 and I am wondering how I can invest it, What would you do with it?

First study different ways to make money and see which one interest you because we can give you an idea but you might not like it

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mediamarket

12 years ago

I would invest in paid advertising

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travlinguy

12 years ago

If you feel you really MUST do something with it, that is, if you ignore the great advice people are giving you, which in essence says to be patient, then look for an established business, a business that you would enjoy running and one that can PROVE they're making the amount of money they say they are with audited financial records from a CPA, then and only then, when everything about that business checks out beyond a shadow of a doubt, buy that business.

Hows that for a 84 word sentence?

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Ricky Parker

12 years ago

You can order me a pizza for lunch today. And if you wanna blow all of it quick you can head over to RAOP - Restoring Faith in Humanity, One Slice at a Time and make a bunch of other people happy too.

PM me for my address and topping selection. If you act fast I'll hook you up with a coupon code to save yourself a few bucks on my pizza.

TTYS

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ronrule

12 years ago

Pay off any personal debt. Don't invest it unless you're debt free.

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heavysm

12 years ago

Originally Posted by ronrule

Pay off any personal debt. Don't invest it unless you're debt free.

This is what I first thought, honestly

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ronrule

12 years ago

Originally Posted by heavysm

This is what I first thought, honestly

I think it makes the most sense in his case. Someone who sees an extra $8K as enough money worthy of asking for advice on how to allocate it isn't an investor - his greatest path to wealth will be his income, not his investments.

If you're in debt, the quickest way to lose money is to "invest it" - even if your investment yields a return, you're still losing.

Let's say you go into "low risk" investments, like growth stock mutual funds. Sure, you can earn a 11% return, but if you're paying interest on other debt that's eating up the interest you're earning with your cash and diminishing your buying power.

Let's say you DO earn 11% ... but you're paying 10% on a credit card, and 6% on your car ... the sum of your payments on those items is MORE than the return you'll get on that $8K. And those debts are guaranteed - you owe that money regardless of what the market does. The return on your $8K isn't guaranteed.

Pay off $8K worth of credit cards and car debt, and you'll save more than that $8K will earn you. Do that, then take the money you save every month by not having to make payments and invest THAT instead.

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heavysm

12 years ago

Originally Posted by ronrule

Pay off $8K worth of credit cards and car debt, and you'll save more than that $8K will earn you. Do that, then take the money you save every month by not having to make payments and invest THAT instead.

This is the way to go for most people. And though I agree with you it's actually not what i did when i got a small windfall myself lol

More than a year ago i came across about $5,000 from an unexpected source. But I already knew how i wanted to invest it and thankfully it worked out well.

You're completely correct about the interest eating up any gains we might receive (your stock mutual fund example). Taking a step back most people just don't think of that because they see the minimum balance that needs to be paid on debt, and as long as they have the $$ for that minimum balance they're golden.

I'm really hoping the OP has more solidified sources of advice to pull from, because I'd see hate to see that $$ go wasted. I invested my windfall on coaching and it turned out well, but only because i knew what steps to take and who to talk to.

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AdamJ85

12 years ago

If your goal is to spend $8k then you'll spend $8k... and most likely lose it all.

Come up with a plan to make money and put that plan into action while constantly trying to spend as little as (reasonably) possible along the way.

Don't fall into the trap of thinking "I have $x to invest!" and rushing out to spend it.

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taouil

12 years ago

Totally Agree ..

Originally Posted by AdamJ85

If your goal is to spend $8k then you'll spend $8k... and most likely lose it all.

Come up with a plan to make money and put that plan into action while constantly trying to spend as little as (reasonably) possible along the way.

Don't fall into the trap of thinking "I have to invest!" and rushing out to spend it.

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joshril

12 years ago

Tough question to answer...

What are your goals? What is your current situation? Do you have experience with anything currently?

Lots of answers about coaching, buying traffic, buying businesses, etc...

These could all be good answers, but I would need more information to give any solid advice.

As someone mentioned above... you will likely get A LOT of PMs on this forum soliciting investment, etc., so be careful.

Thanks,

Josh

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johnben1444

12 years ago

Originally Posted by jj1690

So i have came across a sum of money which is $8000 and I am wondering how I can invest it, What would you do with it?

This is rather too vast and not a clear question.

This guy may simply be asking of where and how to invest that money in the offline.

To make money you need to re-active your sixth sense.

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oWEN tEBB 12 years ago

Hi fellow UKer,

Great news that you come across such a large amount of money but I don't think its a great idea advertising that you have it and more importantly asking what to do with. Your certainly not the first and i'm sure you won't be the last.

So my honest advice to you my friend is

1) SAVE IT AND GIVE CAREFUL CONSIDERATION TO WHAT YOU WANT TO DO.

2) Don't fall for people who promise the earth. They are good at persuading people to part with their money.

3) If your considering investing in something or someone....Please do your homework and see what or what they are about.

4) Even If you decide to invest it, trust me you don't need to spend a fraction of that. Most of the successful people here on the Warrior Forum had a fraction of that budget and they managed to generate large incomes because they learnt their trades first. I started with $200 and even that amount is considered a luxury.

5) Again if you decide to invest, learn how to manage a business and setup a detailed business plan. Plan short, medium and long term but keep it realistic.

6) STAY AWAY from companies like the Empower Network because you won't ever generate a decent return without having a massive list. Money is in the list. They only care about making money off you!!

7) Do not jump from product to product. This is called Shiny ball syndrome. THIS IS A FAST WAY TO LOSE YOUR MONEY.

8) Listen to people like Alexa Smith, sbucciarel,Brent Stangel. Why because their advice is consistantly good. They know their stuff and we should all listen when they raise their opinion. Whatever you decide, know that the warriors are behind you and are always on hand if you get stuck or struggling.

9) NEVER EXPECT to succeed if you can't fully commit to a business. It takes a lot of hard work, attention to detail, clear vision of what you want to achieve. Plan to succeed and not plan to fail.

10) TREAT IT LIKE A BUSINESS AND LET THE MONEY WORK FOR YOU!!

Hope this helps my friend. Sorry If I repeated what others said.

All the best

Owen
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trendier

12 years ago

stock market is all time highs, so i would tread carefully there. forex is another option, but not for newbies. my best recommendation for some of your investment money would be to get some phyical precious metals. they have been suppressed for a while, and there is a good chance they will go up in value(i.e. silver/gold) over the next couple years. this is not a get rich quick scheme, just some advice from an intermediate level investor.

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Javisito

12 years ago

Test and test until you find a strategy which gives you a great return of investment and scale it up.

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salegurus

12 years ago

Dear Lord, When Will It End............

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NeedBucksNow

12 years ago

I was say save $7000 and use the other $1000 to get a top affiliate program with good reviews, and use that part of the money to start advertising. When you start to make a profit, you can use about 30% of it to put back into advertising in order to create a continuous monthly passive income.

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onlinebuzz77

12 years ago

Why don't you create your own informational product and sell it online ! I am thinking to do the same with limited funds I have.. Good Luck !!

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HuiBang

12 years ago

Agree with BlogsbringsBucks. Try to invest in top affiliate programs to earn monthly passive income online.

When it comes to earn online through affiliate programs then there are several ways to get paid. One of the most probably used is Pay Per Click affiliate program and you can earn handsomely.With pay per click program, you're targeting exactly the customer base you are trying to attract. The more the traffic the higher your chances to earn more.

Travelerrr give the solution to start website integrated with top affiliate programs. All earnings made by you is transferred to your account and you can keep a track of all that visits, clicks & sales too.

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littledan

12 years ago

If we are not limiting the choices to online or business related suggestions the choice for me would be very simple.

Buy $8000 worth of physical silver and hold onto it for the next 5 - 10 years. Silver is selling amazingly cheap and the upside is fantastic

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Franck Silvestre

12 years ago

Be careful with your $8000. Many people lost more than that... a $2,000 here, many wso's there, another $2,000 here, and finish.

Think about what you want to do. Think well. Choose a business model, then the best thing to do is to get a coach.

Take care,
Franck

Originally Posted by littledan

If we are not limiting the choices to online or business related suggestions the choice for me would be very simple.

Buy $8000 worth of physical silver and hold onto it for the next 5 - 10 years. Silver is selling amazingly cheap and the upside is fantastic

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littledan

12 years ago

Originally Posted by Franck Silvestre

Be careful with your $8000. Many people lost more than that... a $2,000 here, many wso's there, another $2,000 here, and finish.

Think about what you want to do. Think well. Choose a business model, then the best thing to do is to get a coach.

Take care,
Franck

Not sure why you have quoted my comment, I haven't suggested anything like spending money on WSO's etc.

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Mindz

12 years ago

My suggestion since your asking this. Would be to find you a coach that actually has a reputation of successful students. Don't try to make it on your own when you have the money to pay for an EXPERT knowledge.

You will cut straight to the chase and you wont have to spend all your money doing it.

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lottorevenues

12 years ago

Make a list of 100 things you want to do online before you die.... after a week when the list is done prioritize it so that on top you will have what you want most with the most passion and very profitable (without it being profitable there is no excitement).. do #1 on the list, that is where you true passion is.

why not live in passion and smile as you profit along the way?

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fin

12 years ago

Save it. Or spend it on booze.

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EPoltrack77

12 years ago

I would form the habit of managing it! 50% for necessaries, 10% for financial freedom, 10% for long term savings for spending, 10% for education, another 10% I will put in a play account for me to nurture myself and then believe it or not but I give away 10% of everything.

Of course this is all after taxes which I take 35% of the initial amount. I have left over when I do it this way which feels like a bonus at the end of the year almost.

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UBotBuddy

12 years ago

Replace the HVAC units on my house.

One has been down a whole year so it gets HOT in the summer and COLD in the winter.

My point is make sure that there are not more pressing needs in your household that the money could be better spent on.

Good Luck!

Buddy

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wmrwl

12 years ago

Ronrule is spot on with the credit card advice. If you have any debts at all WHATSOEVER pay those off.

1. Then keep the money in a plain old regular bank account and decide how much of it you're willing to lose if your investment goes sideways. The amount you're willing to lose should be the amount you should invest.
2. Decide exactly what you're interested in and STICK TO PURSUING THAT for the long term. As others have said here, don't bounce around from idea to idea. That's the fastest way to lose your money.
3. Before you even invest a single cent into anything, make sure you research it fully so you understand it completely.

Good luck with your investment! I hope you turn it into as much as you want!

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jamescanz

12 years ago

Originally Posted by jj1690

So i have came across a sum of money which is $8000 and I am wondering how I can invest it, What would you do with it?

I would recommend you invest in a coach.

That was one of the biggest turning points for me online...

For you can save so much time, effort, and money by investing in someone who has 'been there and done that'

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aire

12 years ago

Put it in bank. lol Head over to WSO section... Buy a WSO... Re-Hash a wso... Make money..
Use that money to build a small wp plugin... Buy a domain for that plugin.. Sit on it for a month.. Post plugin on codecanyon... on WF. BlackHat site.. then head over to Flippa.. Claim you made 10k in first month.. Sell it for 15k.. Now you have 15k to invest..

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kaanman

12 years ago

I would buy $1000 worth of bitcoin. Yes bitcoin!
Invest in and implementing coaching.
Put the rest of it in the bank.

Thats is exactly what I would do at the moment.

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BigFrank Banned 12 years ago

Originally Posted by kaanman

I would buy $1000 worth of bitcoin. Yes bitcoin!

Or you could just flush it down the toilet. The end result will be the same. lol

Cheers. - Frank
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tourist

12 years ago

you can to doing ppc.

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NeedBucksNow

12 years ago

Make it rain!!!

Just kidding but I would recommend that you find a good website and use a few hundred to invest in SEO or PPC.

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RobLowe 12 years ago

Work with a coach who'll get you from idea vetting to profitability. Make sure the method is scalable (rinse and repeat) so that you can take your experience and create an ongoing cash flow. Good luck!
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Horacioplus

12 years ago

I started my list building business with 3k and got my money back in less than 60 days!
Now i have a biz making $100-$200 per day

I would use that money to get some tools and take my biz to the next level.

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What to do with $8,000?

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