The Power of Residual Income
Stashing a lifetime's worth of savings into an interest-bearing bank account is one way to prepare for retirement. If you save enough, you can generate a monthly income that covers expenses after you retire. The amount of that income will depend on how much you save and on the interest rate paid by your bank. The problem is that the amount of monthly income such an investment typically yields falls way short of what you'll need to live comfortably.
Will You Have Enough Money To Retire On?
The chart above gives you a quick peek at what you might reasonably expect to receive in monthly interest from a typical retirement savings account. With a bank interest rate of 2%, you would need more than one million dollars on deposit to generate an income of $2,000 per month. For two people, $2,000 per month would be at or near the poverty level.
But let's say you're fortunate enough to have three million dollars in the bank. What can you expect to receive in monthly income? With a 2% return, you'll still receive only $5,000 per month. That may be above the poverty line, but is it enough to enjoy the kind of lifestyle you really deserve?
A Better Way To Invest
Many people have discovered an alternative to traditional, low-yield retirement savings plans. It's called residual income, and one way to get it is by investing in a high-quality home-based business. You can determine the amount of money you wish to generate each month, and you don't have to put any money in the bank.
What Is Residual Income?
Also known as passive income, residual income is money you receive monthly without having to work yourself to the bone to earn it. Wikipedia defines one type of passive income as "earnings from a business that does not require direct involvement from the owner or merchant." Another type of passive income is a rental property. The big difference between the two is that with rental property, you have to pay property taxes, deal with tenants and make expensive property repairs at a moment's notice. By contrast, a network marketing business allows you to deduct business expenses from your taxes, and you don't have to foot the bill for property repairs.
If you're working for someone else, it's going to be tough to save the three million dollars needed to generate a monthly retirement income of $5,000 per month. It will mean a lifetime of scrimping, saving and going without, only to find yourself at age 65 with not much more disposable income than you have now. Fortunately, there's a way to break free of this trap and take control of your own destiny.
Network marketing can provide a monthly residual income that doesn't require you to put money in the bank or to wait until retirement to enjoy it. With a passive income, you no longer have to scrimp and save for retirement. Rather than running on a treadmill until you turn 65, you can spend time with your children, enjoy vacations, pursue hobbies and create a lifestyle you're passionate about.
What Can I Earn As A Network Marketer? It's not uncommon for network marketers to earn $5,000 per month in passive income after just a few years in business. There's no inventory to stock, no storefront to rent and no employees to pay. Rather than paying employees, you'll be teaching others to do what you do, helping them to create a residual income of their own.
Spend Money Now Or Save For Emergencies
Unlike saving for retirement by taking money out of your present monthly income, the passive income generated by a network marketing business delivers money you can use right now. When retirement rolls around, your residual income will continue to flow in because the longer you have a successful home business, the more money it will earn for you. You can use your earnings right now to pay off debts, put the kids through college, or just take the vacation of a lifetime. You can also stash residual income away for emergencies, ensuring that you'll never have to deal with a financial shortfall.
A Democratic Profession
Almost anyone can become a successful network marketer. You don't need to know how to sell because network marketing is not about sales. You don't need diplomas or degrees because the training is provided for you. Your past does count against you because there are no background checks, drug tests or letters of recommendation. You don't need professional experience and there are no stressful interviews. The only qualification for being a successful network marketer is a sincere desire to help and serve others.
The Appeal Of Lifestyle Marketing
With your home-based business, you will not be selling products. Rather, you'll be selling a lifestyle of financial freedom. While product markets are limited to those who need or want the products, the market of those who would like financial freedom is virtually unlimited. We all want more money and we all want more freedom.
A System That Works For You
In multilevel marketing, you can make money while on vacation and while you're asleep. Once in place, a multilevel marketing business literally runs itself. A successful home business simply replicates a proven system. There's no overhead, and all the heavy lifting is done for you. The amount you earn is no longer dictated by how many hours you work.