Successful - now what?

[21elnegocio]

Read Fastlane book and it will answer your questions, I say sell the website, invest in some other companies hotels, real estate, invest in projects etc. do homework first before investing dont want to end up with nothing in return

 

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[MarkLucas]

Yes, my business was on affiliate marketing, that's why I could never sell it (even tough I wanted to).
The investment part I'm taking care of, if I can withdraw 3-4% yearly I can live comfortably!
Now I just want to do what I like

 

[JasonR]

I would recommend getting a $600-per-year membership at the Elevation Group (www.theelevationgroup.net). He goes into detail on how to invest that level of wealth, as he is a multiple 7-figure earner himself. Small price to pay for the information provided, to say the least... especially if you have the money to actually make shit happen with that information.

I've heard of the Elevation Group...but I thought it was a scam. I don't have the kind of money I need to focus on investing yet, but I'm interested in hearing more about your experience with the Elevation Group.

 

[EastWind]

congratulations. btw, don't live in europe, it's expensive. live somewhere very cheap, but build and make sure you have access to europe/US, if you need to visit, you can visit.

 

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[21elnegocio]

I've heard of the Elevation Group...but I thought it was a scam. I don't have the kind of money I need to focus on investing yet, but I'm interested in hearing more about your experience with the Elevation Group.

Is the elevation group a scam ? or is it really something legit that teaches you good stuff ?

 

[hatterasguy]

Don't join any of those scam groups, $600 a year, seriously? If you have $30m with them Chase will put you in a nice group and you don't have to pay.

Just invest the money in something your comfortable in, its not rocket science so don't make it. A lot of scam artists will wiggle out of the mud and try to get a bit off you, so beware. If you want to concentrate on something else and live on a good income I would recommend bonds and blue chip dividend paying stocks. Maybe with a bit of real estate mixed in their. Consult your accountant and attorney for good money mangers in your area that may help you.

Most of the guys I know that do this have old family money and its tied up in trusts with managers, they just get a check once a month. Most have never worked a day in their lives, unless they wanted to.

 

[Nomangee]

What i have seen so far on fb, it is all about life insurance, but I don't know how it works.
The Elevation Group – My Review of the Arbitrage or “Clone†Strategy here is a critical review

 

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[socaldude]

Just invest the money in something your comfortable in, its not rocket science so don't make it. A lot of scam artists will wiggle out of the mud and try to get a bit off you, so beware.

Agree. Don't ever let anyone tell you what to do with your money. You need to study Finance and pick your own investments. Don't relinquish control to anybody. It's not hard, go buy a few books and do some online research and get familiar with the game.

 

[The-J]

A tip from a guy who has read far too many failure stories: Investing is a whole different ball game. Just because you made $5 million from affiliate marketing does not mean you are a smart guy. It doesn't mean you're good with money, either. It doesn't mean that you will be a great investor, or businessman, or any of that. All it means is that you're good at affiliate marketing in your chosen niche.

If you take the investing route, be prepared to learn about basic finance, how to read 10K's and 10Q's, what investments do and what options do. If you take the business route, be prepared to learn about a whole shitload of stuff. We don't want to see you broke, so don't squander your fortune in bad business deals, schemes and shitty investments.

 

[Rain]

I think the Elevation Group is a worthy investment, if only for a single year.

$600 is a small fee to pay for the information and contacts they provide. College can cost $60,000 and still leave you less enlightened.

 

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[damien275x]

Gold and other investments that generate cash. 200,00 a month isnt that much if you start to live bigger... at the time it always feels like all the money in the world but truth is you'll always want more. Work out what you want then go and get it.

 

[PatrickP]

How does gold generate income?

You say 200K isn't that much when you start to live bigger.

How much do you make a month?

 

[socaldude]

How does gold generate income?

Gold can generate income if its a mining company or if a financial instrument is "backed" by gold.

Or if you buy some options if you can relatively predict where supply and demand will go.

 

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[damien275x]

Only about 17,000. But as your income level rises you start to do things you would ususally do weekly, monthly.. daily. For example I never cook anything, I always get everything delivered and cooked for me. I never used to do that. So now I spend my old entire salary on just eating. I also know people who earn way more than I do and they still have the same problem, it's called lifestyle inflation. It's very easy for somebody with only $100 in their pocket to look at average jo on 50k and think wow, he's rolling in it. It's all relative.

Gold does not generate income, it preserves value. If you hold paper it's not going to retain value over a period of 10, 20, 50 years. What I meant to say was hold gold as your reserves and invest the rest into vehicles that produce income. One should never have anything but what they are going to spend the next day in the bank!

 

[MarkLucas]

To be honest, I have a mindset of not trying to get always more.. Otherwise, I would be always unsatisfied..
After you get big money, you start to rethink what's important for you..
I always considered that I needed to get enough money to be financially independent, and not depend on any job.. So that's what I achieved.
I don't need to own a private jet or anything like that.
I just want to do the things I like without worrying about working 9-5!

 

[futhey]

I spend my winters (November-March) in Brazil, and having just gotten back from South America, I will say if you can survive in Brazil you can afford to survive just about anywhere!

 

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[bell12]

hey MarkLucas, check your pm when you get a chance thanks.

 

[Jake]

How does gold generate income?

it doesn't..unless you put it at risk. You can lease your gold out and generate a small return but that kind of defeats the purpose of buying it.

It's anti-risk. There's no counterparty.

 

[xtracrispy]

Personally, I don't think it's enough money. Considering how young you are, you'll probably need $10 million to "retire" comfortably.
My advice is, you should sell your site and start investing (like MJ)! It's not that hard, but the key point is, you need to know what kind of a trader you are. Don't trade like the average buy-and-holder. You should trade long term, 10 year trends, which are much easier to identify than 2 year market movements. E.g. commodities are in a long term, secular bull market, and from a timeframe point of view, the bull market should end around 2017.

Just my 2 cents.

 

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[EastWind]

Personally, I don't think it's enough money. Considering how young you are, you'll probably need $10 million to "retire" comfortably.
My advice is, you should sell your site and start investing (like MJ)! It's not that hard, but the key point is, you need to know what kind of a trader you are. Don't trade like the average buy-and-holder. You should trade long term, 10 year trends, which are much easier to identify than 2 year market movements. E.g. commodities are in a long term, secular bull market, and from a timeframe point of view, the bull market should end around 2017.

Just my 2 cents.

Good stuff you said Personally. He is in a different country, the buying power of USD for now goes much much more!

 

[MarkLucas]

Yeah, I honestly think that a $200k yearly income is good enough for me to live comfortably..
that's using the 4% rule (I know it's not 100% correct, but I find it pretty conservative).
The amount would increase yearly to compensate for inflation.. seems good!

 

[Tony71]

I had to agree with you. $200,000 a month not enough??

How does gold generate income?

You say 200K isn't that much when you start to live bigger.

How much do you make a month?

 

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[bell12]

Personally, I don't think it's enough money. Considering how young you are, you'll probably need $10 million to "retire" comfortably.
My advice is, you should sell your site and start investing (like MJ)! It's not that hard, but the key point is, you need to know what kind of a trader you are. Don't trade like the average buy-and-holder. You should trade long term, 10 year trends, which are much easier to identify than 2 year market movements. E.g. commodities are in a long term, secular bull market, and from a timeframe point of view, the bull market should end around 2017.

Just my 2 cents.

LOL @ 5 million not being enough to retire comfortably at any age. It all depends on what you consider comfortable and how smart you are with the money. 5 million is more then enough if you know what to do with it, hell even 2 million you can retire comfortably if you are a smart person. 5 million though, man people retire with much less then that, at an old age yes. But even if you were making a minimum of 60K per year on that 5 million you are still living well with time to do whatever you want. I agree with your longterm trading on commodities though.

 

[CommonCents]

This is exactly right. It boggles the mind when entrepreneurs just casually talk about being investors/traders. It is a totally separate business requiring the right skills/education/mindset. Something that can be much different than running whatever business.

Investing/venture capital is a art and science in and of itself that requires the proper knowledge, skillset, and mindset. If you can put significant money to work and average a 15% return annually you'd be an investment god in most circles.

I've seen several entrepreneurs worth 7-8 figures lose most of it being 'an investor' after they sold their wealth creating business. Stick to what you know. Unless you want to dedicate yourself to learn a whole new craft.

You could hire a writer if needed and write a book on your experience. You must have general affiliate marketing skills you could apply to another vertical.

You only go round once and life can go by real fast or be very short, good for you pursuing your dreams and passions!

A tip from a guy who has read far too many failure stories: Investing is a whole different ball game. Just because you made $5 million from affiliate marketing does not mean you are a smart guy. It doesn't mean you're good with money, either. It doesn't mean that you will be a great investor, or businessman, or any of that. All it means is that you're good at affiliate marketing in your chosen niche.

If you take the investing route, be prepared to learn about basic finance, how to read 10K's and 10Q's, what investments do and what options do. If you take the business route, be prepared to learn about a whole shitload of stuff. We don't want to see you broke, so don't squander your fortune in bad business deals, schemes and shitty investments.