The majority of the workforce won’t be able to keep their standard of living once they are retired. No matter the type of job you work or how much you earn, your dependable income stops as soon as you stop working. Whether you’re a white collar professional or a skilled laborer, the bottom line is that your income is linear. You’re trading hours for dollars. There’s a way to earn money while winning back your time. It’s through residual income.
The Problem with a Good Job
At some point in our lives, we’ve had this idea from the industrial age instilled into us that it’s ideal to have a good steady job. That’s not true. There is simply no value in having a “good” job. To make matters worse, the government taxes your earned income at a higher rate than any other type of income. This makes it nearly impossible to accumulate sufficient finances for any significant investment strategy.
The Solution: Financial Insurance
You must have a passive or residual income if you wish to maintain your lifestyle. Much like having financial insurance, it will provide you with peace of mind, should you ever find yourself unable to work again due to loss of employment, accident or health issues. Unlike financial insurance, you cannot buy it – you must earn it. And the best time to drill the well is before you’re thirsty.
One thing is certain: if you continue to do what you’re doing, you will only get what you’re getting! You can’t behave the same way over and over again and expect a different result. If you don’t change, the next 5 years will be the same as the last 5 years. Believe that!
Options for Generating Income
You can have passive income through investments. Your money works for you!
This requires a capital investment of after-tax savings. Unfortunately, almost everyone either saves too little, too late in life, or worse, not at all. For every $1000 in retirement income, you will need $240,000 after-tax dollars invested at 5% interest.
You can have residual income through Network Marketing.
When you establish a network marketing business, you’re learning essential life skills, and developing a genuine asset for yourself. In traditional employment, you’re paid when you are on the job – trading time for money. In network marketing, you build and grow an asset: a distribution network. This network is comprised of teams of independent distributors, each committed to building a customer database for your products. In turn, your customer’s recurring monthly reorders (of products) produces the residual income you need to maintain or improve your lifestyle.
One of the most common misconceptions about the Network Marketing business model is that it’s a sales program. However, selling is linear. Just like auto sales, insurance sales, real estate, etc. once you make the sale, your income stops automatically. This linear sales structure won’t grow your wealth nor will it provide you with the time, freedom and lifestyle that you deserve. Network Marketing offers an alternative; recurring income through a business that you built. You don’t just create an asset with Network Marketing; you create an income generating asset. That’s the difference between trading hours for dollars and designing the lifestyle that you desire.