So as you can remember from a previous post I wrote, I was thinking about digging in my purse, or in other words touching my savings account.
I did it. Well I didn’t do it yet, but I am about to. I just got paid and I put about $100 dollars in my savings which brings it up to $1300. I am supposed to put $200 in there every paycheck, but I decided to only put $100 in there this time, because I am going to make my first investment. So now I have $1300 in my savings account and I am going to take the other $100 and invest.
How much will I make??
Well the investment that I am making is not really risky because I have done it before. I am importing products at a check price and selling the product at a discounted price. So from my $100 investment, I should make about $110. So in all I should be putting $210 back into my savings, which will bring me up to $1510. Now this is very pessimistic, so I am pretty confident I will make that profit on my investment. That’s about a 100% profit. Back in the older days when I used to do this, I used to make 200% or 300% profits.
Of course I will try to sale the product for more, but worse case, I will only make a 100% profit. Not to mention, this is new product so this is more of a test phase. If this all goes well, I will definitely reinvest and do it again. Then I will get to my goal a lot faster.