Income for your retirement

Saving up for your retirement

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At some point in your life you have come a business opportunity with some direct selling company or traditionally called MLM.

While the playing field varies from company to company, it basically promises the opportunity to get rid of your 9-5 work schedule to be your own boss and make lots of money while making new friends in the process. It all sounds good on paper, however, there is an endless debate about whether these companies and programs are legitimate business opportunities or not. I think the whole industry is poised for explosive growth and may be one of the most important solutions to the current US retirement savings crisis. At first it may sound like a bold statement, but it is not if you understand retirement as I do. The reality is that making a successful transition to retirement has more to do with psychology than with money. Do not get me wrong, money has a role in retirement but it really is one who gives it the importance. Revealing statistics like the AARP estimate say that half of all baby boomers (76 million) are interested in starting a business, and see in retirement an opportunity in time and money to start. We can clearly see a massive trend.

When it comes to the retirement savings crisis more and more people are coming to terms with the fact that they probably will not be able to save enough money to simply sit back and slowly deplete their savings from the 62 to the 100 years. With an estimated average to have less than $ 50,000 in retirement savings there is an obvious need to find alternative ways to save. Going beyond just dollars and cents, boomers are getting tired of feeling guilty or bad about their past spending habits and are interested in moving towards possible solutions. Another growing reality that could benefit MLM and related businesses is the growing number of baby boomers who are disenchanted with their current careers. They are worn out by letting the business routine consume their passions, and they do not feel a connection between their work and their personal life outside the four office walls. They are shifting their focus from accumulating a giant nest egg to a desire to be part of something bigger and better to have a positive effect on others.

Direct sales and multilevel programs often offer training, support, and ample encouragement along the way. As retirees begin to realize that they need activities that keep them busy, relevant, in good health, and connected to others, the time, energy and cost of participating in these types of businesses are very attractive to large Segments of the population trapped in the inactive retirement routine. Like any investment of time, money and energy, people have to be aware of where they are getting into and do their homework. Those are the main reasons why I started researching the topic by approaching the common people involved in these types of companies. These two people gave their opinions as to whether this can be a realistic source of income for retirement.

Initially I spoke with a retired friend who said he joined a direct-selling health and beauty company as a way to meet new people. He remarried and moved to a new location, so it combines the practice of meeting new people with making extra money. After nearly a decade in business, she has built a small business niche with friends and family despite switching from one company to another competitor, after three years. She admits that she does not attend all local company meetings and goal setting sessions because she is not interested in being a producer. She simply likes to use business activity to keep herself occupied (especially in winter) and use the extra money she earns to travel and spoil her grandchildren. Having studied the psychology and behavior of boomers, this example represents a major change in my thinking about the industry. I no longer perceive these kinds of opportunities as pyramid schemes to make money. Instead, I now see it as a way to improve many of the personal aspects of retirement that are rarely discussed, with the added benefit of complementing other sources of popular retirement income such as pensions and social security.

Daria M. Brzezinski Ph.D, practicing psychologist and former marketing director of a multi-level marketing magazine, echoes these statements. "Many people do not realize that multilevel marketing companies are successful because they help people meet a number of important human needs, including feeling important, having connections, learning something new, and making a difference. I've heard people in network marketing say over and over again, "I'm doing this because I'm going to meet amazing people, make so many connections and feel so good about myself. ' "Dr. Brzezinski's point is well received and easy to see practiced by popular network marketing companies.

Many MLM and NM companies offer a three to five year plan to achieve freedom and wealth, however many of the people who run the company meetings have been in business for five or ten years and have not yet left Your full-time job or landed in the easy situation. "As a result," Dr. Brzezinski points out, "when other human needs are being met, members and consultants do not focus solely on financial aspects." Continuing my interviews, I challenged three others who are in the business of being simple, And prove to me that the process really works. What I found was good consistent business advice applicable to any new business. Lorene Hochstetler, from Ohio, recommends keeping her current job, while slowly making the transition to MLM. She has been able to replace her income full time, but explains: "That did not happen overnight, and I still work every day. I am very disciplined with my business and I wake up every day knowing what I have to do to succeed in this. You have to treat it like a business and be willing to follow the advice of others who have done it. "

Tracy Willard of California began her MLM career out of necessity. "Before getting involved in the business, I told my friends never to let me join one of those things but when our family was affected by the mortgage crisis I had to do something different." She started her business with the same intention that some other retirees can find. "I started with the idea that only what I needed to make my month easier. My company helped me understand what I had to do in order to make an extra $ 500 a month. " He reiterated a common theme that I heard through interviews. "If you treat him as a hobby he will not pay you as a business." She also acknowledged that, despite her success, she does not sit around eating chocolates every day waiting for residual checks reaching her mailbox. "That's a very common mistake," she said. "I work hard at my business every day, although it does not always feel like work. Like other entrepreneurs who benefit from her passion, she says "It's rewarding because I found a product that has made a difference in how I look and feel. I love selling and helping other people start a business."

Staci Cahill runs his MLM business in Washington in a way that many people can appreciate. She keeps her personal life separate from her business life, avoiding parties at home, offering instead workshops that educate prospects about the products she offers. "I do not want to be that person that others hide because they thought I was going to ask them to organize a meeting. I like to keep my business life and personal life separate. " When I asked her if she succeeded in her craft she pointed out a different MLM approach than many might expect. "Yes, I am very successful given what I wanted to get from her. I am a single mother working 50 hours a week away from home. Now I've cut myself to 20 hours, which is a major improvement for me and my family. "As a five-year MLM veteran, she attributes her success to the fact that she changed business a few years ago by realizing that pots And pans do not change people's lives. "The products I offer now have changed my life and that of others, I can wake up and go to bed knowing it."

Interviews and psychological connections lead me to the conclusion that MLM and NM companies, along with other small business opportunities, are important considerations for anyone entering retirement. In fact, I think the concept of starting a retirement income business will become one of the most important trends affecting retirement in the 21st century. But you have to start redefining entrepreneurship and framing it in a style Of retirement life. That means helping people find a way to turn a passion, hobby, or personal desire into extra money into their pocket, stay relevant and connected, as well as stay healthy mentally and physically.

Something that multi-level marketing companies as well as marketing networks are about to capitalize on. As a result, the industry could soon experience the biggest growth of life, stimulated by baby boomers looking to adjust their feelings and retirement plans. Let me assure you, lack of money is nothing compared to running out of family, friends, and good health.