Retirees and Network Marketing

Let me start by saying I am a network marketer.  I have been involved in the industry for over 25 years.  I am also 61 years old.  So I know a little bit of what I speak.

Retirement is fast approaching.  That magic age when one is supposed to be able to kick back and enjoy the fruits of many years of labor.  Travel, spend time with family, take up new hobbies or enjoy ones you didn't have time for before now.  And just relax.  But the reality is far different.

More than 50% of US households have little to no retirement savings.  Sure, we get Social Security - for now.  But even if it doesn't go broke as predicted, can you retire on what you'll make?  The average Social Security payment is $15,000 - $16,000 annually.  Poverty level in the US for one person is $12,140.  Not much of a cushion.

Fortunately, I am not in that 50% with no retirement savings.  My husband and I have been preparing for this day for many years.  We are ready.  We have a nice little nest egg set aside.  And even when we "retire", we will still be earning income.  Because we got involved in network marketing.

It's Not a Pyramid Scheme 

Now I know what they say.  It's illegal.  It's a scam.  It's a pyramid scheme.  Yes, there are business "opportunities" out there that are all of these things.  So just like any other business or investment, a little due diligence is in order.  But the vast majority of network marketing companies are completely legitimate.  And the business model is perfectly legal.

Chances are you have already been introduced to the industry.  Someone you know - a friend or family member - approached you about an opportunity that was going to "change your life."  You went to a meeting or watched a video that laid out "the plan."  By only recruiting a few other people to join, you were going to be financially independent aka "wealthy."  You may have even joined.  And if you did, you probably didn't become wealthy.  You may not have broke even.  In fact, you might have lost money. 

Am I still insisting this is a legitimate business?  Yes!  Especially for retirees.

Change Your Expectations

Most people are brought into network marketing with the promise of "freedom."  You are sold the dream of quitting your job and living what is referred to as the "laptop lifestyle."  And that has happened for a few.  More than you realize actually.  85% of the women making $100,000 annually are doing it through direct sales or network marketing.  But for many others, that dream never materializes and soon discouragement and disbelief set in and they quit.

But I'm proposing a different tactic.  You are getting ready to retire.  You ARE quitting your jobs or have already done so.  You don't need replacement income.  You need supplemental income.  And that makes a huge difference in how you approach the business. 

If you are focused on getting rich quickly, then all your energy is likely aimed at bringing in as many people as possible as quickly as possible.  And so you share your business with EVERYONE!  If they have pulse and are breathing, they are a prospect.  It doesn't matter that most people aren't good candidates for this business.  It doesn't matter that they probably won't stick.  All you can think of is sign them up!  And so you enroll everyone you can, alienating a good many of your friends and family along the way.  And you earn a couple of decent checks.  And then your team starts dropping out and your checks dwindle and you have already burned through your entire list of contacts and no one will listen to you know and OMG!!!!  This doesn't work. And you quit too.

But what if you took a different approach?  In my company, directly recruiting 4 people is enough to make a decent check.  So what if I'm content with that?  What if I focus on finding the best 4 people I can?  Instead of nabbing every warm body in my reach because I'm focused on "getting rich", I'm looking for 4 people who will help me build a comfortable, SUSTAINABLE income.  Lots less pressure.  Lots less stress.  MUCH greater chance of success.

With the pressure off having to recruit so many people, you have more time for other things.  And these are the things that will help your business grow.  Time to work with your recruits and help them build their teams.  Time to learn how to market your business properly.  Time to find some customers for your products.  Time to do all the things that the professional network marketers are doing. 

 It's Not Just The Money

If you really want to be wealthy, this is the way to do it.  Be selective in who you recruit.  Train them and help them build good solid teams.  Learn to harness the power of the internet and social media to market your business the RIGHT way.  Promote your products as well as your business.  If you do this consistently, you will have a nice check to put towards your retirement lifestyle.

But even if you only make enough to help stretch your savings, it's still a great business to be in.  Because the network marketing lifestyle is about so much more than the money.

It's friendship.  Most of my friends these days are also in the business.  Not necessarily my company.  But they are in some form of network marketing or direct sales. 

It's about socializing.  Imagine spending a weekend at a great resort with hundreds of people with the same goals and aspirations as you.  During the day, you spend time with some of the leaders in the industry learning more about your business.  Talk about keeping your mind sharp!  And afterward, you talk, and laugh, and have dinner or drinks, with people from all over the country and maybe even the world.  You go sightseeing in whatever city the meeting is being held in.  You sit up late at night with a new friend discussing your families, your business, and most importantly, your hopes and dreams for the future.  Sounds like fun, doesn't it?  Well it's called CONVENTION and almost every company has them! 

It's about self-improvement and empowerment.  Learning about business and marketing.  Trying your products.  My company is in the wellness industry.  Imagine what I have learned about health and nutrition since joining.  Imagine the people I've met and the things I have done since incorporating health and fitness into my lifestyle. 

It's about leaving a legacy.  Many companies allow you to leave your business to your family.  But more than that, it's what you are teaching them.  My grandchildren are already discussing business ideas with me.  Along with my network marketing business, I have learned e-commerce.  And I have taught my grandchildren the skills necessary for them to set up their own online stores.  They will never have to be dependent on a job if they choose otherwise.  And simply by writing my book, I have inspired many others who dreamed of one day becoming authors to actually do it. 

It's about being an inspiration to others.  To those who thought they could never afford to retire.  To those who could but didn't out of fear.  To those who wanted something more in their golden years than soap operas and golf.  To those who thought they were too old - too old to start a business, too old to learn a new set of skills, too old to write a book, too old to dream.

Let's Do This!

That has been my rallying cry for many years now.  If you want more from your retirement than simply existing, now is the time to get started.  Network marketing is the easiest way to start a business with minimal investment.  You can work to make enough just to help supplement your other income.  Or you can work a bit harder and make some real money.  That choice is yours.  But either way, you will reap all the other benefits.

The next step is yours.  Find the right company and the right team.  There are lots of them out there.  Of course, I recommend my company and my team.  But we may not be the right fit for you.  Find the one that is.

Once you enroll, learn all you can.  There are coaches and trainers and tools and systems aplenty available.  Again, I think I am the right coach with access to the right tools and system.  But again, maybe not for you.  Find the ones that are.

Don't be a statistic.  Don't be one of the 50% that squanders what is supposed to be the best years of our lives.  

Are you ready?  Let's do this.

Want to more about me, my team, and my company?  Great!  Connect with me on Facebook!  Or fill out the form on my webpage and I'll give you a call!



 

Planning for Tomorrow

When you’re a corporate employee – if you’re lucky – you have a company-matched 401K and maybe even a fully funded pension plan. When you’re self-employed, saving for retirement is all on you. And unless you want to still be working when you’re old and gray, it’s a good idea to start saving sooner rather than later.  Granted, if you have the right type of business, then working past traditional retirement age may be something you choose to do.  But a good retirement plan can mean the difference between working by choice or working from necessity.

The good news is, the government makes it easy – and tax free – to build up your own personal retirement account.

401K or IRA

A 401K is a special type of retirement fund set up and administered through an employer. Some companies offer to match a percentage of every dollar you contribute, making this a nice, pre-tax benefit.

IRAs, or Individual Retirement Accounts, are set up with the help of a bank or financial planner, and are also non-taxable. That means that if you’re paying 30% of your net income to the IRS (not uncommon for self-employed folks) you can save 30 cents on every dollar you contribute to an IRA.

There’s a limit to how much you can invest in a retirement account. For individual 401Ks (available only to self-employed persons with no employees), the maximum you can stash away pre-tax is $17,000. For IRAs, it’s $5,000.

Before you start stashing money away, though, remember that this tax savings does come with a price: You can’t touch the money you invest until you’re 65, or you end up paying not only the income tax, but penalties as well. In addition, you will have to pay income tax on that money when you retire. There’s no escaping the tax man entirely, unfortunately.

A Sound Investment?

There’s another benefit of a retirement savings account: the potential to earn substantial interest rates. Because you have the flexibility to divide your IRA funds up among various investments, you can potentially see returns as high as 10 or 12%. That’s a far cry from the 1% your savings account is offering.

Of course, there’s no guarantee that any investment will earn money. Just talk to anyone who was close to retirement age when the economy took a downturn in the early 2000s. Many people saw their 401ks and IRAs dwindle away to nearly nothing, while they stood helplessly by and watched.

But for saving on your income tax as a small business owner, an IRA or individual 401K is ideal. They’re easy to set up and have few costs involved, plus they give you the freedom to invest your money in high-earning stocks or to choose safer bonds.

We have been building our retirement savings for years.  It is comforting to know that if we should ever want or need to stop working altogether, we will still be able to live quite comfortably.  If you are unsure how to get started planning for your tomorrow, contact a trusted financial advisor for help.