What percentage of your INCOME goes to ASSET ACQUISITION? - GoFuckYourself.com

$5 submissions · 03-01-2006, 04:04 PM

Asset, in this scenario, defined as something that generates income.

Mr. Mike · 03-01-2006, 04:08 PM

0%. The rest goes to the IRS.

WiredGuy · 03-01-2006, 04:10 PM

Right now, nearly 0. I am very much looking to acquire some though, if you hear of any for sale, I'm all ears.
WG

Quotealex · 03-01-2006, 04:10 PM

define ASSET ACQUISITION?

$5 submissions · 03-01-2006, 04:10 PM

Quote:

Originally Posted by Mr. Mike

0%. The rest goes to the IRS.

Boy, do we all feel that way at certain times of the year (can you say "April 15"). Having a corporation usually takes a bit of the sting out. Have you looked into incorporating?

$5 submissions · 03-01-2006, 04:13 PM

Quote:

Originally Posted by Alex from Montreal

define ASSET ACQUISITION?

Normally, people budget this way:

Income comes in -- goes to pay for expenses -- goes to pay for liabilities -- goes to pay for 'discretionary spending' -- IF anything is left it goes to savings.

Asset acquisition is buying assets like rental property, profitable businesses, stocks, etc. Anything that, when sold or as part of its active operation, generates further income which you then can use to buy even MORE assets.

$5 submissions · 03-01-2006, 04:16 PM

Another variation, a very important one at that is REINVESTING that income back into your business. Example: you do manual dbase stuffing traffic, you generate $$$, you buy a script to automate your previously manual work, you generate more $$$, you then automate some more or pay for new filter pages to make even more $$$ with the same traffic. Although its not technically a NEW asset that you're acquiring, you are building more efficiency into your current revenue generation system.

Quotealex · 03-01-2006, 04:17 PM

Quote:

Originally Posted by $5 submissions

Asset acquisition is buying assets like rental property, profitable businesses, stocks, etc. Anything that, when sold or as part of its active operation, generates further income which you then can use to buy even MORE assets.

I see. I that case I would say about 25% of my income goes to buy stocks and bonds, the rest of it is used to pay taxes and day to day expenses....

amateurcanada · 03-01-2006, 04:26 PM

I'd go full force into investing into your own business. If yoru rich get vacation properties and rent them off locally as well as sign them up to the local timeshare networks like RCI and more

slapass · 03-01-2006, 04:31 PM

25% of the pre tax or 50% of after tax.

Pornwolf · 03-01-2006, 04:33 PM

I'm at a bit over 50% at the moment. I'm really ramping up this year.

Antonio · 03-01-2006, 05:34 PM

I've invested in two 74 year old whores, lets see how much are they going to make me..

StuartD · 03-01-2006, 05:36 PM

someone's been doing a lot of reading in the "rich dad, poor dad" type department

Peaches · 03-01-2006, 05:45 PM

Right now, nothing. Not sure of my income situation for awhile so savings are sitting there in case I need them to cover bills.

I also think there will be at LEAST a mini bubble burst in real estate in 2007 and I'd like to start investing income producing real estate then. That's if I haven't spent all my savings to live on..........

Rhesus · 03-01-2006, 06:40 PM

About 75-80%

03-01-2006, 04:04 PM	#1
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	What percentage of your INCOME goes to ASSET ACQUISITION? Asset, in this scenario, defined as something that generates income. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

03-01-2006, 04:08 PM	#2
Mr. Mike Confirmed User Join Date: Aug 2004 Posts: 913	0%. The rest goes to the IRS. __________________ Sig for sale. ICQ: 163-545-054

03-01-2006, 04:10 PM	#3
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,486	Right now, nearly 0. I am very much looking to acquire some though, if you hear of any for sale, I'm all ears. WG __________________ I play with Google.

03-01-2006, 04:16 PM	#7
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Another variation, a very important one at that is REINVESTING that income back into your business. Example: you do manual dbase stuffing traffic, you generate $$$, you buy a script to automate your previously manual work, you generate more $$$, you then automate some more or pay for new filter pages to make even more $$$ with the same traffic. Although its not technically a NEW asset that you're acquiring, you are building more efficiency into your current revenue generation system. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

03-01-2006, 04:26 PM	#9
amateurcanada Confirmed User Industry Role: Join Date: Jul 2001 Posts: 3,766	I'd go full force into investing into your own business. If yoru rich get vacation properties and rent them off locally as well as sign them up to the local timeshare networks like RCI and more __________________ be our partner - join nichepartners today will.assum.producer @ AmateurCanada.com / icq: 30146166 / facebook.com/will.assum / #amateurcanada

03-01-2006, 04:10 PM	#4
Quotealex Confirmed User Join Date: Sep 2001 Location: The Global Digerati Village Posts: 6,265	define ASSET ACQUISITION?

03-01-2006, 04:31 PM	#10
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,625	25% of the pre tax or 50% of after tax.

03-01-2006, 04:33 PM	#11
Pornwolf Drunk and Unruly Join Date: Jan 2002 Location: Hollywood Posts: 22,712	I'm at a bit over 50% at the moment. I'm really ramping up this year. __________________ I've trusted my sites to them for over a decade... Webair, bitches.

03-01-2006, 05:34 PM	#12
Antonio Too lazy to set a custom title Join Date: Oct 2001 Location: Spartaaaaaaaaa Posts: 14,136	I've invested in two 74 year old whores, lets see how much are they going to make me..

03-01-2006, 05:36 PM	#13
StuartD Sofa King Band Join Date: Jul 2002 Location: Outside the box Posts: 29,903	someone's been doing a lot of reading in the "rich dad, poor dad" type department __________________ This is me on facebook This is me on twitter

03-01-2006, 05:45 PM	#14
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	Right now, nothing. Not sure of my income situation for awhile so savings are sitting there in case I need them to cover bills. I also think there will be at LEAST a mini bubble burst in real estate in 2007 and I'd like to start investing income producing real estate then. That's if I haven't spent all my savings to live on..........

03-01-2006, 06:40 PM	#15
Rhesus Confirmed User Join Date: Aug 2004 Posts: 2,009	About 75-80%