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re: *Updated* Life changing income about to happen and I need advice

Posted on 5/17/20 at 4:51 pm to
Posted by lsutiger2010
Member since Aug 2008
14790 posts
Posted on 5/17/20 at 4:51 pm to
(no message)
This post was edited on 10/18/21 at 4:43 pm
Posted by cgrand
HAMMOND
Member since Oct 2009
38907 posts
Posted on 5/17/20 at 5:10 pm to
quote:

She made over $2K yesterday which is not the best yet. 45 days ago we would have thought a day lije that would have been a dream, but anything less than $1500 a day now is considered an "off day"

I would definitely call that life changing money if it’s sustainable.
congrats

be nice to your wife
Posted by Brobocop
Baton Rouge, LA
Member since Feb 2018
1906 posts
Posted on 11/17/20 at 11:05 pm to
Bump.

How’s it going Mariner?
Posted by BayouBandit24
Member since Aug 2010
16586 posts
Posted on 11/23/20 at 11:07 pm to
He bought a $5 million house and his wife’s sales quintupled
Posted by Mariner
Mandeville, LA
Member since Jul 2009
1949 posts
Posted on 12/28/20 at 7:41 am to
*Original post updated
Posted by MrJimBeam
Member since Apr 2009
12368 posts
Posted on 12/28/20 at 7:54 am to
Congrats, happy for you. I hope to have my businesses grow enough in the near future to where my wife can work part time to help with the kid, too but we are still a ways away and praying the newest venture blows up like we expect. Anyway, love hearing these stories and hope to be in the same boat soon so quality of life becomes even better.
Posted by Fox McCloud
Member since Oct 2020
3525 posts
Posted on 12/28/20 at 8:37 am to
What is the business
Posted by LSUtigerME
Walker, LA
Member since Oct 2012
3806 posts
Posted on 12/28/20 at 11:17 am to
Still trying to figure out the business. Freakin dude posted here asking for advice, started a website, “in sales”, but won’t share said website with potential customers/clients/supporters.

With the latest update my guess is something like MyTexasHouse, home blog/Instagram influencer type thing that partners/sells products.

Overall, I hope the business has sustained and you’ve been able to really put some savings aside prior to resigning from your job. Congrats on the success and wish you the best. As mentioned before, make sure you both really understand the tax implications and have a handle on that part, and maximize any opportunities to reduce the tax burden.
Posted by tiger91
In my own little world
Member since Nov 2005
36741 posts
Posted on 12/28/20 at 11:36 am to
Seriously, what type online business?
Posted by Stagliano
Member since Dec 2020
1653 posts
Posted on 12/28/20 at 11:42 am to
I can't believe I read this entire thread and still don't know what the f business shes in
Posted by Mariner
Mandeville, LA
Member since Jul 2009
1949 posts
Posted on 12/28/20 at 1:55 pm to
Affiliate Marketing

Sorry, I have been busy all day.

Not ready to reveal the website to TD yet. I will think about it though.
This post was edited on 12/28/20 at 2:04 pm
Posted by Mariner
Mandeville, LA
Member since Jul 2009
1949 posts
Posted on 12/28/20 at 2:01 pm to
Thanks. I have been working with my accountant and have reduced our gross income considerably. Still scared about the taxes but estimated what it will be worst case and I should be fine. I learn something new every day with taxes.
This post was edited on 12/28/20 at 2:01 pm
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 12/28/20 at 2:46 pm to
You didn't have a website until you posted the update in the OP, though. Right?
Posted by Mariner
Mandeville, LA
Member since Jul 2009
1949 posts
Posted on 12/28/20 at 3:58 pm to
Right
Posted by hiltacular
NYC
Member since Jan 2011
19688 posts
Posted on 12/28/20 at 4:06 pm to
I have to assume she is some type of social media personality that started doing home cooking or clothing shows and is now getting paid directly to market these items.

Good for her and you I suppose
Posted by NOSHAU
Member since Feb 2012
11961 posts
Posted on 12/28/20 at 4:31 pm to
quote:

Thanks. I have been working with my accountant and have reduced our gross income considerably.
Are you sure? I can understand reducing your net income, but gross?
Posted by Mariner
Mandeville, LA
Member since Jul 2009
1949 posts
Posted on 12/28/20 at 7:44 pm to
Reducing from gross to net. Yes ultimately trying to make net income as low as possible. We are able to write off a lot of expenses.
This post was edited on 12/28/20 at 7:46 pm
Posted by cgrand
HAMMOND
Member since Oct 2009
38907 posts
Posted on 12/28/20 at 9:16 pm to
quote:

I have to assume she is some type of social media personality that started doing home cooking or clothing shows and is now getting paid directly to market these items.

no different than becoming an actor in commercials. Self published advertising is so much cheaper than media buys and people respond to it so much better.

the influencers out there are doing the ad buyers a huge solid. On the millions of eyeballs level that ad buy would be also in the millions.
Posted by go ta hell ole miss
Member since Jan 2007
13660 posts
Posted on 12/29/20 at 7:49 am to
quote:

the influencers out there are doing the ad buyers a huge solid. On the millions of eyeballs level that ad buy would be also in the millions.


The influencers are not giving their product away, are they? Most actual influencers seem to be doing really really well.
Posted by cgrand
HAMMOND
Member since Oct 2009
38907 posts
Posted on 12/29/20 at 7:59 am to
of course not
but it would cost exponentially more for a TV ad buy than what they pay for affiliate marketing for similar ad impressions. It’s the deal of the century for advertisers
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