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  1. #1
    Full Member
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    I think this an extremely important subject for everyone to consider. As many of you know - a fellow ABWer has passed away. If something happenned to you - would your family still get your affiliate income and who would manage your sites/domains/etc... ? Would your affiliate income just disappear because you hadn't taken proper steps?

    I have thought about this a lot and am currently starting to teach my wife about affiliate marketing so she could take over my sites if something happenned to me. What is everyone doing to protect their affiliate income if something happenned to yourself?

    Larry Wentz
    www.AffiliateNetwork.org
    www.MultipleDomainHosting.net

  2. #2
    Resident Genius and Staunch Capitalist Leader's Avatar
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    I've tried to teach my mother the biz (I don't have any kids), but I have the sinking suspicion that if a bus hit me, it wouldn't be long before the income started to fade away. A life insurance policy would probably provide more safety...

    It is a beautiful thing, to do nothing, and then rest afterwards.~Spanish Proverb

  3. #3
    ABW Ambassador
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    >currently starting to teach my wife

    I'm going to be 60 this year and my child bride is 43. I've begun to teach her the biz. I found that she adds value to what I've been doing by coming up with interesting keywords that convert.

    Big Daddy Smokes
    Real American Tobacco
    FAST Shipping
    Residual Income
    Lifetime Accounts
    http://www.bigdaddysmokes.com/recruit2.html
    affmgr@bigdaddysmokes.com

  4. #4
    Defender of Truth, Justice and the Affiliate Way
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    I don't think AM is any different than any other business where the owner takes steps as to what will happen with the business if they die. The choices are pretty simple. The inheriting survivors can either: run the biz, sell it, hire someone else to manage it, or just let it close down. It is important to discuss it with whoever will inherit the business and put the steps in place to carry out whatever is decided. It makes things so much easier for the family.

    Like Leader said, life insurance and/or business insurance (if you are earning a significant income from the business) are always good ideas. Discussing all the options and ins and outs of how to accomplish your wishes with your financial advisor, cpa, attorney, etc isn't a bad idea either.

    It's Your Money. You earned it. What are you going to do to make sure you get to keep it?

  5. #5
    ABW Ambassador
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    My online business and offline business will both end. We have active 10 yr old and 7 yr old boys. Between work and family the wife has little time to learn this business. She isn't able to take over my sales agency either. She is aware though to leave the internet hooked up and will get some residual income for a few months after I am gone. Long term things may change about her learning it, but we don't have that luxury to plan long term at this point in time.
    Although my 10 yr old is asking about getting a web site, so I may help him get the basics started.
    As Leader states, it is best to be prepared. Unfortunately illness has made us be more prepared than others, but we had measures in place well before the internet business was established. We have seen too many say they didn't or couldn't afford insurance, and see them lose it all in a fire or some unseen circumstances. Being prepared takes little time and is always a wise investment. I stress investment, because that is what it is. We aren't rich but we get by somehow and I would hope a death wouldn't cause any more stress on top of everything else if my family wasn't looked after. So on my passing the family will be looked after at least for a few years to help them through the toughest part of all this.

    ...............
    WW

    Make a difference! Support your local Cancer Care providers.

  6. #6
    ABW Ambassador
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    I love the fact that me and the Mrs. are partners in more ways than one and that "our income" would still be viable if something happened to either of us.

    Obviously, the male usually worries more about these things than the female. The percentages are pretty strong stating the male usually dies first. Knowing that the business will carry on if something happens to me and that Nova will not be negatively impacted earnings wise (at least on current earnings anyway) gives me a great pleasure.

    Affiliate Marketing is not only our income, it's our life insurance policy to boot! If you're just realizing this, then maybe a light will come on - and understand the nature of the many posts we do outlining the significant issues that we face in affiliate marketing. We will continue to speak loudly over these issues and do everything we can to protect ourselves!

  7. #7
    ABW Veteran jc101's Avatar
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    I really believe this is the way to go. Affiliate Marketing needs to be realized more then just a comfortable income. We also need to take it as a multi million dollar business with health and life insurance attached to it. I believe this business could be set up as a income for the next generation. for your kids, To me this beats having to go to work and work for someone else for 40 years of your life. Where if you call in sick too many times they have the right to fire you. Here it's like you just work on it when you feel like it. Here's the following benefits I see in this business.

    1. passive income so you don't have to work for someone else.

    2. Instant Deposits monthly.

    3. A system where you can give the benefits to your wife,kids so they have a healthy life.

    4. Hey If you are single and don't have a girl friend. There's no excuse for you not to do this! Work on it so when you do meet that special someone and have a kid there future is set! This is the ultimate future for those who are committed! I'm doing this because I want to show my family and mother and uncle who are in heaven that I can accomplish anything, With negative comments behind my back! I'm taking care of my life!

    _________________________
    xtremeshopping inc. goal financial free by 4/6/2004 (my Birthday!) Angry, Enthusistic shi* stirrer.. LOL.

  8. #8
    Assistant Regional Manager Rik's Avatar
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    Investing a portion of your affiliate profit is usually a good idea and creates another revenue stream for your family if something happens to you (provided you have everything setup there as well).

    It's the old but good cliche of letting your money make more money for you (even if you're not there).


    The above post may contain traces of nuts.

  9. #9
    ABW Ambassador Jane's Avatar
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    Who could I give my sites to that would actually take care of them?
    Not my son. Bought him a domain and built him a site that was bringing in enough to make his car payment, but he didn't want to take care of it. Much easier to just call mom when the money runs out.
    Tried to tell some friends how to make money but they couldn't get motivated. They want money but they don't have time to learn all this internet stuff.
    My son will be busy spending my retirement and life insurance money, so I guess my sites will just eventually fade away. Can't will them to another affiliate, you all have fake names!

  10. #10
    ABW Ambassador Doc Sawyer's Avatar
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> Who could I give my sites to that would actually take care of them?
    <HR></BLOCKQUOTE>

    Funny... that would be my concern if I were considering my will...

    I have so much time (ME) in my site, I would hate to have it wither and die just because I was no longer there.

    "An Optimist Can Never be Pleasantly Surprised" - Murphy

  11. #11
    ABW Ambassador mailman's Avatar
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    Very good posting Larry. I was thinking about this the another night. My wife knows her way around the computers pretty good, not enought to carry on if something happened to me. She at times thinks I am wasting my time. I have told her that the internet is still in it's infancy and that like television, it's the future.
    I do believe that mailordering.com has some real potiental. The lack of sucess is that I have not totally applied myself. I have decided that I am going to give this a good effort and show her what to do in the event of my demise.
    Great posting Larry!
    The day you are born----You start to die!
    It's just a matter of time.
    Gerry J Wasyluk.

    Where Do You Want To Be Tomorrow?

  12. #12
    Member gotapex's Avatar
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    Work hard, so you can save up the capital to retire in a few years.

  13. #13
    ABW Ambassador
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    I think I have to start training my husband and kids.

    My older kid is 5 yrs old and seems very business oriented.
    Is 5yrs to young to learn the basics of the biz?

  14. #14
    ABW Ambassador Sam Bay's Avatar
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    Who passed away?

  15. #15
    ABW Ambassador
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    Here's a basic step in protecting your affiliate income for your heirs: stay well ahead with your domain registrations.

    Affiliate income could crumble quickly if an important domain name lapsed, so try to keep your active domains registered at least a couple of years into the future. That would give your family or executors some time to figure out what to do without having the rug pulled out from under them.

    It's money you'd have to spend anyway.

  16. #16
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    I've been teaching the boy (my 16 year old son).
    I'm to a point where I'm pretty sure he would be able to handle it if he had to.

    walleye warrior... I suggest you get to teaching that 10 year old. You did say he wants a site didn't you? By the time he's sixteen he'll be a whiz. I think my boy was building a site when he was about 11 or 12. You got to start somewhere.

    Compare prices and features of over 100 different web hosting plans. http://www.IceIsHot.com

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