[philv]

Hey everybody, kinda new year, but not knew to entrepreneurship. I got a phew simple but complicated questions.

First, I have about 13,000 saved up earning interest daily. My first plan was to save my way to a million dollars by the age of 42....but then I said I want alot more than 1 million. So I started to just start up small sites, nothing serious and try to get lucky...not much happened there...

So now my quesiton is this. DO I invest in a website that I think might do very well, since I been doing research on it for a year, or do I continue to save for a year 1/2 and go after my dream of starting a physical business. By the time it is time for the start up I will have about 25,000. So the next question is, do I invest that 25,000 into the start up or let it sit and keep earning interest and serve as back up. So do I use it or let it sit. If I let it sit, I must get backing from others. I am already researching and going to be doing the business plan. Like I said, it is a while away. I am pretty sure I can get some Family to lend me 25,000. So that would give me about 50,000. But then again, do I use that and go at this alone, or do I try as hard as possible to get an ivestor and use my money as backup.

If you guys have any ideas of businesses or websites that you need investing in let me know, also any ideas for what I should do. Keep saving and earning interest now or invest in more websites. And the next question is, when it is time for my dream to come true, do I use my own money 30-50,000 or try to borrow as much as possible

thanks

[akula]

not a good question

early stage private equity is not a suitable asset for non accredited investors

circumstances have to be pretty bloody special for a prudent advisor to recommend someone "invest in a website"

[philv]

akula, i wouldnt be asking investors to invest in a website, it would be physical business

[akula]

ok....as far as I understand, you're asking whether you should reallocate your assets from cash to early stage private equity. is this what you're asking?

the answer to this question is (obviously) no, unless there are certain extraordinary circumstances (contracts for delivery, exclusive distribution etc)

it doesn't matter whether this hypothetical business is online or offline. private equity is still private equity anyway you cut it.

[philv]

makes sense

[dosrotties]

When you're 42, a million will be like a 50k to todays value.I would leave it for now or only barrow 2k. The idea is never steal from yourself. You can only spend it ounce.

[DrMoney]

Philv, or start lending at prosper.com at collect some easy cash.

[ltressel]

Phil,

First of all, kudos on figuring that money sitting is not a hard working money. Secondly, being that this is hard earned money that you saved up, don't you think that you owe it to yourself to find something good to happen with your money?
Asking people what to do with your money is bad. Take charge of it, you must have some skill or idea that is worth funding. Don't itch to "spend" it on an investment you have no knowledge about. Timing is everything-when it hits you, you'll know what to do with your saved money.

[philv]

tress, you make sense....i was just trying to get opinions onw hat others might do.....my idea is to start a digital magazine in 2 years..i will have plenty of capital then....and with the internet growing the way it is, i might have a great chance....i will be graduating in a year and plan on traveling and using that money to enjoy life.....and try this magazine out....then if i fail....get the 9-5 untill i save more money

[ltressel]

hi Phil,

It sounds like you got a plan. You've done well to sock away some $ because the day an opportunity presents itself, you will be ready to rock and roll. In my case, which was similar to yours, real estate knocked on my door 3 years ago. I've not looked back since. I've rolled over the same capital three times into new ventures.

May I suggest that besides being financially ready, keep your "education" on being an entrepreneur going. These two things go side by side.

LT

[philv]

hey tres, yeah you sound like i do....i am waiting that sure thing idea that comes across...hopefully in another year or too i will graduate and have 25,000....i told myself and others..i will sacrifice 2 years of having fun, so when i do graduate i can pretty much do whatever i want to.....so i will enjoy life and start a business.....and like i said.....if i fail, i fail....but i will be young enough to start over...the way i save money and invest....i wiould be able to save 25,000 living at home by the time i was 26-27 ....no biggie.....congrats on the real estate....

yeah the plan is to travel and launch the digital magazine.....i feel in 2 years.....print magazines might be of the past, and with everybody at every age using the net now.....imagine in 2 years.....

i then plan on taking the magazine to an ivestor and branching into different markets