How Should One Invest Their Profits?
At the moment nearly all my earnings go towards paying off previous financial commitments and living costs but there will be time in the, hopefully, not too distant future when the slate will finally be wiped clean and everything I earn will be mine to spend as I choose. If we ignore last month which was an utter turkey when it comes to earnings and look back at 2011 you can see my average monthly income was £1500 or $2400. If I estimate my living costs at being £700 per month which includes putting money aside for holidays then it leaves me with £800 to play with.
How Would You Reinvest £800 Per Month?
So the question is: what should one do with £800 per month? Is it best to put it into a savings account or try and get a decent return by investing it in building websites? If I was to invest it in making money online I think it would go something like this each month:
- Hire a part-time virtual assistant to do link building
- Sign up for Build My Rank, Unique Article Wizard & SocialAdr
- Setup five new sites in low competition niches
- Add content to my best earning five sites
- Start an authority site and add regular content to it
Or am I just continuing to do what I’ve already been doing and not looking at the bigger picture?
What would you do if you had money to re-invest each month or if you already are, how do you reinvest?
I’m assuming that you currently don’t have much a savings right now. I would suggest saving half and putting the other half to work. I can’t speak from experience, just what my plans are.
I’m currently rolling 100% of all money coming in back into more sites (I only have 6 right now). Plan is to have about 25 and then start adding content to the winners. I think BMR might be a necessity. Haven’t used UAW and only free SocialADR.
So finally, I would use half on BMR, adding content to the five best earning sites, and those other little miscellaneous expenses that always pop up. Do this for a couple months, then use your money on BMR and link building through UAW and VA.
Hopefully though, the income will start rising each month and you can have everything outsourced, sit back, and become an idea guy.
Jason recently posted..How I Got 3539 Potential Money Making Keywords in Under 5 Hours with SECockpit
Sounds good. What sort of income would you be happy with/be expecting from those five best earning sites?
My long term goal is £4,000 / $6,300 per month. If I had 10 sites that brought in that amount I think that would be manageable in terms of keeping them updated, link building etc.
Each site making £400 / $630 per month. 10 would be better than five in case one or a couple get wiped out by Panda.
Although in my years in AM I’ve never managed to get more than the odd site that makes that kind of amount and never consistently throughout the year so not sure it is possible?
Joe Couple of things
First off thanks for the blogroll, secondly investment can be tricky and should be approached as if you could loose all of it. I agree as you would want to keep 50% on side.
I wanted to point one thing out that ALL sites have the potential to be authority site, all you need is enough content and related keywords.
When you are in a position to invest then look at what you got available..things that are working today wont necessarily be working tomorrow.