Author Topic: Ideas needed: Turn a 100k investment into a livable income  (Read 15977 times)

DebtFreeBy25

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Ideas needed: Turn a 100k investment into a livable income
« on: February 05, 2016, 12:42:57 PM »
The basics: I have $100,000 (USD) and ~60 hours a week to invest. My emergency fund is separate from this proposed investment and covers my living expenses for 2-3 years. Within a year and half or so, the chosen venture needs to be producing a livable income.

More details: I am willing and able to work FT to grow a business. My skills include business administration, marketing and technology, but I don't have the experience or level of specialized skills required to translate any of these into a consulting gig or otherwise sell one of these services as a business. I tend to be more of a "jack of all trades" type. My best personal assets are resourcefulness, good management skills and the ability to learn quickly.

I just left my FT corporate job and would ideally like to never have to work for a for-profit (other than my own venture or partnership, of course) again. I am interested in returning to non-profit or public sector work, but in my personal experience this work pays terribly and is often unstable. Starting a business or investing for income is something I've thought about a lot about for at least a year. Unfortunately, I've been unable to come up with a good idea for a profitable business working with my available funds. The area I'm in currently is low COL and, thus, relatively low income.

My basic yearly expenses are under 10k. I would like my business/investment to be returning at least 20k annually by year two. I am debt-free and would prefer to stay that way. In addition to the funds available for investment, I have a 30k emergency fund, 30k in retirement funds and own a home outright (jointly with my husband).

Currently this is anticipated to be a solo venture. There is a possibility that my husband would partner with me if the business plan was solid. (Yes, technically our funds are all communal property, but we maintain separate finances.) If he would agree to a partnership, he would bring 50k and a second FTE with a variety of practical, hands-on skills. His key skills are mechanical maintenance and repair, basic carpentry, woodworking, equipment operation, auto body work and nearly everything handy. Double the numbers for necessary returns if considering a partnership. He also has a separate emergency fund. Together we would need the venture to be producing at least 40k in annual profit by its second year.

Ideas that I've already ruled out: Owning and operating a restaurant or bar, anything involving childcare, multi-level marketing scams, owning/operating a garden center and green house, anything involving a tractor trailer, owning a gym or other high liability business

bobechs

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #1 on: February 05, 2016, 12:58:55 PM »
I've got no analysis of any of these, just ideas I've seen punted around on the internet.

1. Laundromat

2. Vending machine route

3. Van-based freight expediter

GrowingTheGreen

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #2 on: February 05, 2016, 01:38:49 PM »
Check out the Millionaire Mind by Stanley. He goes into depth about how businesses like dry cleaners are very profitable, but people stay away from them because they appear to be "too blue collar".

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #3 on: February 05, 2016, 01:42:01 PM »
I've got no analysis of any of these, just ideas I've seen punted around on the internet.

1. Laundromat

2. Vending machine route

3. Van-based freight expediter

Going to have to google that last one. Thanks for the suggestions!

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #4 on: February 05, 2016, 01:44:32 PM »
Check out the Millionaire Mind by Stanley. He goes into depth about how businesses like dry cleaners are very profitable, but people stay away from them because they appear to be "too blue collar".

Thanks for the recommendation! I'm definitely not ruling out anything blue collar. One of my ideas was an auto body shop, but the start up costs would be quite high (equipment), and I would need my husband plus at least 4 additional employees.

Fishindude

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #5 on: February 05, 2016, 01:51:12 PM »
Only way I can think of to make this happen is some type of somewhat risky, self employment venture.
It's going to be long hours and hard work to get it going, plus some pretty good luck.  You will be that evil "for profit" business.

Bucksandreds

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #6 on: February 05, 2016, 02:42:02 PM »
Only way I can think of to make this happen is some type of somewhat risky, self employment venture.
It's going to be long hours and hard work to get it going, plus some pretty good luck.  You will be that evil "for profit" business.

It's not evil to have a for profit business. It's just that there are only 2 possibilities in that setup. Either you're getting yourself rich as the owner or you're getting someone else rich as the employee. Who wants to use their hard work to get someone else rich? I'll never attempt to make someone else rich, I can promise you that.

BarkyardBQ

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #7 on: February 05, 2016, 02:51:49 PM »
The basics: I have $100,000 (USD) and ~60 hours a week to invest. My emergency fund is separate from this proposed investment and covers my living expenses for 2-3 years. Within a year and half or so, the chosen venture needs to be producing a livable income.

My basic yearly expenses are under 10k. I would like my business/investment to be returning at least 20k annually by year two. I am debt-free and would prefer to stay that way. In addition to the funds available for investment, I have a 30k emergency fund, 30k in retirement funds and own a home outright (jointly with my husband).


I see that you have 160k, and based on 4% rule need 250k to give you 10k a year...

Have you considered working until you have 300k and then just taking an enjoyable part time job where the risk isn't all on you?

Aside from that, if you have any wicked food skills, you could look at being a food vendor at events, ~$10/plate for hundreds of servings. Food markup is profitable. Part time is nice.
« Last Edit: February 05, 2016, 03:00:50 PM by BackyarBQ »

ooeei

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #8 on: February 05, 2016, 02:53:22 PM »
It's not evil to have a for profit business. It's just that there are only 2 possibilities in that setup. Either you're getting yourself rich as the owner or you're getting someone else rich as the employee. Who wants to use their hard work to get someone else rich? I'll never attempt to make someone else rich, I can promise you that.

I think you forgot the very real 3rd possibility, you're getting yourself poor as the owner.

Parizade

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #9 on: February 05, 2016, 03:27:39 PM »
Have you consider flipping houses? Your husband's handiness would, well, come in handy.

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #10 on: February 05, 2016, 03:55:55 PM »
The basics: I have $100,000 (USD) and ~60 hours a week to invest. My emergency fund is separate from this proposed investment and covers my living expenses for 2-3 years. Within a year and half or so, the chosen venture needs to be producing a livable income.

My basic yearly expenses are under 10k. I would like my business/investment to be returning at least 20k annually by year two. I am debt-free and would prefer to stay that way. In addition to the funds available for investment, I have a 30k emergency fund, 30k in retirement funds and own a home outright (jointly with my husband).


I see that you have 160k, and based on 4% rule need 250k to give you 10k a year...

Have you considered working until you have 300k and then just taking an enjoyable part time job where the risk isn't all on you?

Aside from that, if you have any wicked food skills, you could look at being a food vendor at events, ~$10/plate for hundreds of servings. Food markup is profitable. Part time is nice.

Our total net worth is 300k+ right now. I'm still applying for employee and contractor positions, but I've become fairly picky about my employment situation.

Unfortunately I do not have mad food skills. A food truck is an idea I've pitched to my husband (a food engineer, give him a formula and he'll execute it), and he wasn't interested.

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #11 on: February 05, 2016, 03:59:23 PM »
Have you consider flipping houses? Your husband's handiness would, well, come in handy.

We essentially flipped our first house which was a foreclosure. The challenge with this is that renovations take a lot of time and a fair amount of money. Tax liability comes into play if you don't live in the home for 2 years. Real estate markets can also be volatile, and our market is still somewhat inflated in my opinion.

Kriegsspiel

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #12 on: February 05, 2016, 04:01:40 PM »

FIPurpose

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mozar

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #14 on: February 05, 2016, 09:15:25 PM »
event  planning? my uncle runs concessions at concerts. too bad you don't have mad food skills. pop up dinners are a thing. you could start a farmers market.

Kriegsspiel

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #15 on: February 05, 2016, 09:22:09 PM »

Smokystache

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #16 on: February 06, 2016, 05:57:01 AM »
I'd recommend the $100 Startup by Guillebeau. It may give you ideas about filling a market need that you hadn't considered.

Bravenewlife.com has a several blog posts about "nanobusinesses" . Just because you have access to $100k doesn't mean we should be only thinking about larger businesses. Best of luck!

bobechs

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #17 on: February 06, 2016, 02:04:10 PM »

Urban farming.


This is way awesome.

I agree, all these other posters are suggesting pure dogshit.

But MMM himself says pure dogshit is way awesome as an over 50K/yr gig:

http://www.mrmoneymustache.com/2013/08/05/50-jobs-over-50000-without-a-degree-part-2/

(#43,   to save time wading thru the other dogshit)

Do please tell us about your experience in urban farming though. 

tj

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #18 on: February 06, 2016, 04:28:37 PM »
I don't have a clue how one could turn a 100k investment + labor into a reliable 20k of income after expenses.

sol

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #19 on: February 06, 2016, 04:49:02 PM »
This whole thread confuses me.  You want to know how to make a livable income and you have 60+ hours per week to do it in? 

How about you get a job?

tj

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #20 on: February 06, 2016, 05:05:48 PM »
This whole thread confuses me.  You want to know how to make a livable income and you have 60+ hours per week to do it in? 

How about you get a job?

Exactly my reaction. if you want 20k income, your 100k should give you 4k SWR, so you only need to make $16k through other means. You don't need to franchise a restaurant, you could simply work in one....probably even part time. :D

BlueHouse

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #21 on: February 06, 2016, 05:38:11 PM »
Franchise for a closet company?  Sounds like a good fit for your husband's carpentry skills and if you can manage operations, might be a fit. 

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #22 on: February 06, 2016, 06:19:03 PM »
This whole thread confuses me.  You want to know how to make a livable income and you have 60+ hours per week to do it in? 

How about you get a job?

I've obviously had traditional jobs. To put it politely, the corporate life isn't for me. I'll work 60 hours a week for a cause I really believe in or for my own profit, not for some corporation. There's a big difference between doing something you enjoy and can take some pride in and only showing up for a paycheck. The later has been the situation at every job I've worked in the private sector.

The goal of owning/operating my own business is growth. My initial profit goals are modest/realistic, but eventually I would hope to equal or exceed what I made in corporate America minus the misery. That said I'm still interviewing for corporate jobs that pay 85k+ because that amount is worth suffering for at least for a few years.

Many people's motivation for FIRE is to escape miserable jobs. Personally I've never had much ambition to retire in any traditional sense. I'd like to work doing something I mostly enjoy for as long as I can (ideally 75+) while accommodating a personal life and some travel.

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #23 on: February 06, 2016, 06:29:40 PM »
This whole thread confuses me.  You want to know how to make a livable income and you have 60+ hours per week to do it in? 

How about you get a job?

Exactly my reaction. if you want 20k income, your 100k should give you 4k SWR, so you only need to make $16k through other means. You don't need to franchise a restaurant, you could simply work in one....probably even part time. :D

I've thought of this as well. Most part-time or relatively easy jobs in my area are undesirable due to the nature of the work, working conditions, hours or some combination of those factors. I'd rather go back to a lousy paying job with a non-profit because it would at least provide benefits.

Owning a business is a long term plan for me though. 20k is my realistic goal for the first year in the black (which would ideally be the 1st year but I conservatively plan for the 2nd). My goal is to grow the business to ultimately earn more than I would have working for someone else. I'm not looking for a way not to work. I'm looking for a way to work under my own direction and not be a miserable office drone.

sol

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #24 on: February 06, 2016, 06:34:10 PM »
I'll work 60 hours a week for a cause I really believe in or for my own profit, not for some corporation.

Have you considered working for something other than a big corporation?  By the numbers, most people in America work for small businesses.  I'm a civil servant.

If you want to take pride in your work, what does that look like?  You're not asking for very much money, so pretty much anything you choose to do should suffice.  Figure out what you want to do first, then figure out how to get paid for it.

I'd be skeptical of the self-employed route.  If you haven't succeeded as an employee, why do you think you would succeed as a business owner?

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #25 on: February 06, 2016, 06:50:39 PM »
I'll work 60 hours a week for a cause I really believe in or for my own profit, not for some corporation.
I'd be skeptical of the self-employed route.  If you haven't succeeded as an employee, why do you think you would succeed as a business owner?

I wouldn't say I haven't succeeded as an employee. I was a regional manager by the age of 26. The only way to really do big things is to work for yourself. No one becomes super successful as an employee.

I know the kind of work I want to do (community development or non-profit management) and have my first 5 years of professional experience and a masters degree related to this field. The problem is these jobs pay terribly. (My last offer for a community development position was 35k.) I still consider myself to be in my wealth building years, so the low do-gooder salaries are tough to stomach.

sol

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #26 on: February 06, 2016, 07:08:35 PM »
The only way to really do big things is to work for yourself. No one becomes super successful as an employee.

I STRONGLY disagree with this statement.  Buzz Aldrin was an employee, just as an off the top of my head example that disproves your "no one" claim.  Sometimes being part of something bigger than yourself is the only way to succeed at a particular goal.

But I suspect that if you're the type of person to really excel as an employee, you are probably more likely to succeed on your own too.  I believe success is a product of your vision and work ethic, not your employee status.

Which is why I'm skeptical of people who think they can find success as a self motivated and directed business owner of they haven't found it as an employee.  You either have that drive or you don't, and I'm not sure that you can suddenly discover it by casting off the shackles of employee status and declaring yourself to be your own boss.

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #27 on: February 06, 2016, 07:26:29 PM »
The only way to really do big things is to work for yourself. No one becomes super successful as an employee.
But I suspect that if you're the type of person to really excel as an employee, you are probably more likely to succeed on your own too.  I believe success is a product of your vision and work ethic, not your employee status.

Which is why I'm skeptical of people who think they can find success as a self motivated and directed business owner of they haven't found it as an employee.  You either have that drive or you don't, and I'm not sure that you can suddenly discover it by casting off the shackles of employee status and declaring yourself to be your own boss.

Completely agree with this. Becoming your own boss doesn't mean that you'll be a good boss. My dad has always had this dream of owning a bar. The real dream is for him to hang out at a bar all day and somehow make money. As that's never going to be a successful business plan, I hope he never actually buys a bar.

bobechs

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #28 on: February 06, 2016, 08:09:42 PM »

The only way to really do big things is to work for yourself. No one becomes super successful as an employee.

This seems to be radically at odds with the proposition you put forward in the original post: desired steady self-employment income around $20K/yr with investment not to exceed $100K.

Granted that you have, for your own reasons -rational or irrational matters not at all- excluded working as a W-2 employee, nonetheless it is not hard to achieve the modest income goal you have set.

You could just do Mechanical Turk work @ $1-$2 per hour for 2000 hours per year and get $2000-$4000 per year, added to the investment income from your $100K nest egg.  That falls quite short of your goal. This won't make it.

You could, for example, go on the road as a van-based freight expediter as I suggested above. Look at www.expeditersonline.com , where people in the business will set you straight on what you can and can't make and the capital costs of entry.  This probably meets your initial criterium, but but there are lifestyle limits to take into account.

You could do some other self-employment gig. You'll have to fill in all the blanks on that yourself.

You could, as Sol suggests, straightforwardly make your income goal an employee.  There are lots of jobs that will yield in the ballpark of $10/hr (~ $20K/yr) or you might even shoot for the Astronaut program which will pay a lot more than that.

Except for the Astronaut option, they all are a lot less than "big things" or "super successful"

So, are you at all clear on exactly what you want?  Big Things or Twenty Thousand a Year?

mozar

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #29 on: February 06, 2016, 09:42:33 PM »
Here's is a professional closet organizer, I think a poster mentioned it: http://fabjob.com/program/become-professional-organizer/
There's lots of random franchises out there.
I have to disagree with Sol though. I am, and always will be, a mediocre employee. But I have been very successful at the businesses I've started, which help me to realize that I would rather fool around on someone else's dime that have to work that hard on my own business.

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #30 on: February 06, 2016, 10:10:32 PM »

The only way to really do big things is to work for yourself. No one becomes super successful as an employee.
So, are you at all clear on exactly what you want?  Big Things or Twenty Thousand a Year?

I think there's some confusion between need and want. I only need 20k/a year (actually even less than that). I obviously want more.

This is practicality talking. I know I may not make money the first year. That's not ideal but not a deal-breaker. The second year I want to be making enough to support myself with the business alone. The "big things" come incrementally. I'm looking at the course of an entire lifetime because, as previously stated, I don't plan to retire. For clarity the "big thing" is to have the freedom to chart my own course and not have to rely on an employer for my income. I obviously don't have a lot of a need for money, and, thus, care more about building something that I can be proud of than raking in cash.

An example of the type of venture I'd be looking at is a marijuana dispensary. If my state finally legalizes it, I am definitely applying for permit. I see this as amazing new market (you know, the legal one), but unfortunately the super corporate legalization initiative failed decisively last year. 

aschmidt2930

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #31 on: February 06, 2016, 10:56:23 PM »
I'll work 60 hours a week for a cause I really believe in or for my own profit, not for some corporation.
I'd be skeptical of the self-employed route.  If you haven't succeeded as an employee, why do you think you would succeed as a business owner?

I wouldn't say I haven't succeeded as an employee. I was a regional manager by the age of 26. The only way to really do big things is to work for yourself. No one becomes super successful as an employee.

I know the kind of work I want to do (community development or non-profit management) and have my first 5 years of professional experience and a masters degree related to this field. The problem is these jobs pay terribly. (My last offer for a community development position was 35k.) I still consider myself to be in my wealth building years, so the low do-gooder salaries are tough to stomach.

I agree with your statement, but why are you looking for ideas from internet strangers?  Success and wealth are symptoms of passion for entrepreneurs.  An idea or opportunity can be brilliant, but you're likely to fail if you're not doing something you love. Figure out what you enjoy, and go get it.

Villanelle

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #32 on: February 07, 2016, 12:21:57 AM »
How about instead of looking for $80k jobs in situation you hate, you look for cheaper jobs doing more meaningful work.   Look up "research foundation" at your local university, and there are probably a lot of jobs.  Some will be directly in labs (though not always requiring STEM skills) or university-affiliated non-profits (things like programs to promote educational opportunities, business assistance organizations, and a zillion other things).  And some will be working directly for the university doing things like managing grant money (basically telling professors, researchers, and the staffs of all the aforementioned university affiliated groups), helping profs and organizations apply for grants, or doing HR for all their employers, etc.    These jobs tend to be somewhat more stable than other non-profit jobs (especially if you work for the central staff, though that can feel more removed from the feeling of Doing Good).  They pay is decent, usually very good benefits (if that matters to you). 

And depending on what job you end up in, you might even eventually develop a skill like grant writing that you can start as a side consulting gig, working up to enough business that you can quit. 

That's just one example, but with such a low income need, there are plenty of non-profit jobs that can give you a sense of satisfaction, decent job security, and decent pay. 

EcoCanuck

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #33 on: February 07, 2016, 12:55:44 AM »
Tagging to see how this thread develops....

Agree with previous points about requiring passion if you're going to try and be your own boss. A steady paycheck that someone else is required to provide is a nice feeling. What is your risk tolerance?

However a few basic suggestions:
Wedding Planner / Wedding Set up etc (good husband/wife combo from the skills you've suggested).
Real Estate Agent / House Stager

One of the two key things about the above is that you could start this part time WHILE you work at a job you dislike. Manage the risk. Get a corporate job and work 35-40hrs a week and start the business on the side. Let the corporate world shoulder some of the risk, y'know?

EcoCanuck

Miss Prim

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #34 on: February 07, 2016, 05:11:33 AM »
I can tell you about a profitable business that doesn't cost hardly anything to start.  My husband was in sales for commercial cleaning products and some of his clients asked him if he knew anyone who cleaned offices.  He finally came home one day and said he would like to try it on the side.  At that time, I was only working part-time, so I had the time to help him.  Fast forward 16 years later and he has made a good business out of it and now he subcontracts all the work out and just orders supplies and does billing.  It is a nice retirement income for not doing a lot of work now. 

Our first vacuum was a $20.00 garage sale one.  When we had the money in a couple of months, we bought a commercial vacuum cleaner. 

Eventually, I went back to work full-time and he hired help.  It was great exercise.  We never had to do anything else as we would try to move as fast as we could to get enough cardio going.  He is very outgoing and his prices are not cheap, but he always did a thorough job and developed great relationships with his clients, so they were willing to pay more for his services.  There is decent money to be made in this field.

                                                                                              Miss Prim
PS.  I wouldn't get into doing house cleaning.  That is a nightmare and much more work for the money.  Strictly stick to offices.

chasesfish

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #35 on: February 07, 2016, 05:21:06 AM »
This is a really confusing thread:  You already have a nice chunk saved, you don't need more than 20k/year, but you don't want to take on fulfilling work at 35k/year, and you have 60+ hours a week to dedicate?

Hell, the answer looks easy to me.  Go do the 35k/year job and use the other 20 hours a week working somewhere else (Drive for Uber?  Foodservice?)

I don't think starting a business is right for you given your timeframe/goals, I think you need to get a higher paying corporate job and suck it up if its all about building wealth.

Retire-Canada

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #36 on: February 07, 2016, 06:59:49 AM »
This is a really confusing thread:  You already have a nice chunk saved, you don't need more than 20k/year, but you don't want to take on fulfilling work at 35k/year, and you have 60+ hours a week to dedicate?

Hell, the answer looks easy to me.  Go do the 35k/year job and use the other 20 hours a week working somewhere else (Drive for Uber?  Foodservice?)

I don't think starting a business is right for you given your timeframe/goals, I think you need to get a higher paying corporate job and suck it up if its all about building wealth.

^^^ This. Earn $35K/yr doing that fulfilling job, put $5K into your investments each year. Assuming a 6% return after inflation you'll have $250K in 10yrs which will give you an income of $20K/yr.

Get a side gig that allows you to save an extra $5K/yr so you are now saving/investing $10K/yr and you get to to $250K in 7.5yrs or $300K in 10yrs.
« Last Edit: February 07, 2016, 07:01:33 AM by Retire-Canada »

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #37 on: February 07, 2016, 07:57:41 AM »
I can tell you about a profitable business that doesn't cost hardly anything to start.  My husband was in sales for commercial cleaning products and some of his clients asked him if he knew anyone who cleaned offices.  He finally came home one day and said he would like to try it on the side.  At that time, I was only working part-time, so I had the time to help him.  Fast forward 16 years later and he has made a good business out of it and now he subcontracts all the work out and just orders supplies and does billing.  It is a nice retirement income for not doing a lot of work now. 

Our first vacuum was a $20.00 garage sale one.  When we had the money in a couple of months, we bought a commercial vacuum cleaner. 

Eventually, I went back to work full-time and he hired help.  It was great exercise.  We never had to do anything else as we would try to move as fast as we could to get enough cardio going.  He is very outgoing and his prices are not cheap, but he always did a thorough job and developed great relationships with his clients, so they were willing to pay more for his services.  There is decent money to be made in this field.

                                                                                              Miss Prim
PS.  I wouldn't get into doing house cleaning.  That is a nightmare and much more work for the money.  Strictly stick to offices.

Seconding this for others who are following this tread. My uncle's wife runs a pretty successful office cleaning service as a side gig.  You just need to ensure you have the right market. From what I can tell my local market is split between a couple local and regional services. There are already low cost cleaning services available, so I don't think there's much opportunity here. (In other words, I'm not cleaning for the $10-13/hour I'm likely to net locally.) In a more urban area this could be a great way to make $20+/hour for relatively easy work.

partgypsy

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #38 on: February 07, 2016, 09:10:26 PM »
I don't think anyone is going to give you the answer you want, which is a low risk (certain of succeeding) high return business out there, automatically going to make what you need or more.
I am also still unclear your motivations why you do not want to work a for-profit job; you don't like the environment, or because you feel that working for yourself somehow more fulfilling, or actually more profitable? Obviously, working for someone else is less risky and probably more statistically profitable than starting your own business. And where you are at, you don't need to work all that much more to get to where you can have a return of 10K a year. However you can lose all your money starting your own business. I think you need to go into this very clear-eyed about the reasons you are doing it, and accepting potential downside risk, and whatever business you are doing, doing some serious number crunching to see if it is worth it. Another good idea is to get a business loan and llc to protect your personal money. If it is a good enough idea you should be able to get a loan. 

I would think that probably the more profitable businesses, would be something that is not glamorous but necessary, such as laundrymat, cleaning service (even commerical cleaning) childcare, nursinghome care? (that would need a bigger investment) recycling (ie getting rid of or remidiating stuff businesses need to get rid of like electronics, sludge etc).
« Last Edit: February 07, 2016, 09:12:14 PM by partgypsy »

Mazzinator

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #39 on: February 08, 2016, 07:40:34 AM »
Real estate. Provides long term growth via mortageg pay down and appreciation. Provides "feel good" business by providing clean, safe and affordable housing to low income or working class people. It may take you 60hrs/ week to find these deals, network, research property managers and/or travel to other towns to view these houses. Keep your exisiting $30k emergency fund.

Ballpark numbers:

$100k house
-$20k down payment
-$5k closing costs
$80k mortgage @5% = ~$500/mn

Gross rent $2000/month
-$1000/month for expenses (short term and long term)
-$500 mortgage

=$500/month profit ($6k/yr)

Buy 4 of these.


zinethstache

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #40 on: February 08, 2016, 11:01:45 AM »
I know of a man who had two mailbox service franchises and he did quite well, he sold them both recently. I am a long time mailbox customer and the new owners seem to be doing quite well 2 years later. They started out manning the business full time and have now hired a manager and some part timers and I never see them anymore.

Another business they bought at the same time was a motel in the state but far away,  not sure how well that is going, but it was apparent to me at the time that these folks want to own a few family businesses but not run them directly.

I was very, very tempted to buy a franchise but we went with rental properties due to my husband's skillset being a perfect fit. We started 4 years and are FIed now. It has been a fun ride. I wish you the best and can't wait to read all about what you decide to embark upon!

BTDretire

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #41 on: February 08, 2016, 03:55:38 PM »
This would be a huge speculation and not something I'm doing.
 It is speculative because some of these oil companies may go bankrupt, will they last two years? You would at least have your money back!
 Oil company bonds are paying 52% plus, retire on $100,000.
These bonds issued at about $100, are now at $15 to $24, if and when redeemed you get the $100 plus the interest until redeemed.
Ok, facepunch expected.
But I find it an interesting play.

A. VNR 7.875% maturing on 4/1/2020 at 26.8. CUSIP 92205CAA1         79.2% yearly interest rate

B. BBEP 7.875% maturing on 4/15/2022 at 20, CUSIP 106777AD7         68.3% yearly interest rate

C. ARP 7.75% maturing on 1/15/2021 at 21.67, CUSIP 049296AC0         71.1%  yearly interest rate

D. REXX 8.875% maturing on 12/15/2020 at 20,40, CUSIP 761565AB6  89.0%  yearly interest rate

E. LGCY 8% maturing on 12/1/2020 at 31.6, CUSIP 52471TAB3             52.2% yearly interest rate

 IF these survive, the return on a $100,000 investment is $71,000 a year.
Plus a huge gain if the bond is called.

   Very Risky!

   I thought I would add the FINRA site to check Bond prices, yield, etc.
Just put the CUSIP number in the box and go.
http://finra-markets.morningstar.com/BondCenter/Default.jsp
« Last Edit: February 09, 2016, 03:36:10 PM by Qmavam »

Bearded Man

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #42 on: February 08, 2016, 06:20:19 PM »
Buy 3 rental properties in Ohio making about $1,800 a month after expenses from all the properties combined. Relocate to Thailand and live off $350 a month.

GuitarBrian

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #43 on: February 08, 2016, 10:28:03 PM »
Bet it on oil options. Lots of volatility right now, If oil goes back up to $50, you can easily make 20x. If you can time it... 50x..

Don't do that, lol.

Done right, real estate will accomplish your goal. Low risks, rent is relatively stable income. Treating as your priority means you will find others in need of property management, $100/month or 10% is a good base line. Managing 20 houses is not that hard. I have a friends that did just this. Bought a few houses with inheritance money, turned it into managing 25 properties...

Do this in a state with pro landlord laws. It will make things so much easier.

aprilm

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #44 on: February 09, 2016, 01:27:50 PM »
$100k house
-$20k down payment
-$5k closing costs
$80k mortgage @5% = ~$500/mn

Gross rent $2000/month

Where would someone find this kind of deal?

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #45 on: February 09, 2016, 04:58:40 PM »
I am also still unclear your motivations why you do not want to work a for-profit job; you don't like the environment, or because you feel that working for yourself somehow more fulfilling, or actually more profitable?

The work I've done in the private sector has been unfulfilling. I've never felt that anything I've done working for a for-profit company actually matters or benefits society as a whole. Working a corporate job I literally only show up for the paycheck. I'm also a poor fit for most corporate cultures because I'm an anti-consumerist, agnostic, collectivist, liberal feminist, just to name a few of my un-mainstream tendencies. While I can pass for someone much more mainstream if I have to, spending most of the week feeling like an impostor is the opposite of fun.

My ideal job would be in politics or non-profits. The problem is I worked those jobs for several years already, and it's highly unstable and pays terribly. I ended up in the private sector because it was so difficult to find a decent paying job in my field. While I enjoy doing do-gooder work, I don't want to put myself in a situation where I have few choices because my income is so low that I have little ability to save. Long-term I feel that self-employment is a good option because I plan to work indefinitely (read: plenty of time to grow a business) and if I'm working for profit I'd like that profit to be mine. It's not that I believe that I would make more working for myself. There's a high probability that I'd earn more working for a corporation. But given that I hate the work, continuing to work a boring corporate job isn't sustainable.

Roboturner

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #46 on: February 09, 2016, 05:03:02 PM »
Climate controlled storage/parking - especially in farming/oil fields - although this may indirectly be considered something with a "tractor" :P

especially with the downturn in oil prices, lots of companies need storage for their rigs

DebtFreeBy25

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #47 on: February 09, 2016, 05:11:43 PM »
$100k house
-$20k down payment
-$5k closing costs
$80k mortgage @5% = ~$500/mn

Gross rent $2000/month

Where would someone find this kind of deal?

You can find these kinds of deals in most rural areas. 100k buys a pretty nice house in my region. Our market is still a bit inflated from the remnants of the oil and gas boom, but when prices come back down I'm seriously considering picking up some rental properties. (Home prices are obviously somewhat tied to rents, but while rents have started to come back down, the housing market hasn't fallen to pre-boom prices yet. )

Tester

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #48 on: February 09, 2016, 07:04:28 PM »
I am also still unclear your motivations why you do not want to work a for-profit job; you don't like the environment, or because you feel that working for yourself somehow more fulfilling, or actually more profitable?

The work I've done in the private sector has been unfulfilling...

My ideal job would be in politics or non-profits. The problem is I worked those jobs for several years already, and it's highly unstable and pays terribly...
Long-term I feel that self-employment is a good option because I plan to work indefinitely (read: plenty of time to grow a business) and if I'm working for profit I'd like that profit to be mine...
It's not that I believe that I would make more working for myself. There's a high probability that I'd earn more working for a corporation. But given that I hate the work, continuing to work a boring corporate job isn't sustainable.

I think your reply does not clarify your motivations.
-You feel unfulfilled in the private sector
-You would like to work in politics or non-profits but...
-You don't like the pay working in politics or non-profits
-You are ok with working for profit if the profit is yours but...
-You hate the work

I really think you should stop looking for ideas on what to do from other people and first decide what you want to do.
I mean, non-profit, for-profit in a fulfilling field, politics, how much money would make you ok with for-profit unfulfilling job, how much money would make you fine with politics/non-profit jobs?
Would you be ok to have your own for-profit business if it is unfulfilling?

After you sort those things out I believe you will be able to take your own decision.

I tried to highlight things above to support what I say.
I will just touch one of them:
You say "My ideal job would be in politics or non-profits. The problem is I worked those jobs for several years already, and it's highly unstable and pays terribly"
You see, the jobs are not really your ideal jobs because you left something out. You ended the sentence too early.
Perhaps your ideal job would be in politics or non-profit but with a high pay?

I hope this will help you :).


lhamo

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Re: Ideas needed: Turn a 100k investment into a livable income
« Reply #49 on: February 09, 2016, 08:25:23 PM »
You haven't found the right non-profits.

Granted, in most cases salaries are going to be lower than in for-profit companies.  But a well-managed non-profit can offer very competitive salaries and good benefits.

Private foundations are typically at the top of the heap. 
Large organizations with good reputations/donor base and/or large government grants are another better-than-average type to look for.

I worked for two organizations in these categories, lived within my means, made some strategic investments, and am semi-retired at age 47. 

I have a friend who just got hired into a development position at Planned Parenthood, and she says the pay and benefits are awesome.

And I also don't totally understand the reluctance to try the 35k community development job.  Your expenses are only 10k a year. That means you could plow 20k plus into retirement accounts and have little to no taxable income.  Since you say you are willing to work to 75 if you find work you enjoy, why is this not an option? 

FWIW I took a major paycut (72k to 55k) when changing organizations a few years ago and never regretted it.  And I'm currently considering taking another paycut if I end up going back to work (was at 76k, will likely be in the 50-60k range if I get the kind of job I'd really like).  No big.  The nature of the work and the working environment, not the salary, is what is most important to me.

Oh, and one other thing to consider -- if there isn't an organization or organizations in your area that addresses the problems you'd like to solve, you could always consider setting one up.