By Nicoline Ambe, PhD, Growth Mentality
When you fast forward your life to 70 years old, what does it look like? Are you busy or are you idle and bored with nothing to do? If you’re busy, what are you busy doing? Is your retirement income enough to maintain your pre-retirement lifestyle? Are your 401Ks, savings accounts, and home equity enough to make you retire comfortably?
These are questions that any reasonable, educated person must ask themselves daily until they retire. Your retirement cannot come as a surprise to you! You have to carefully and masterfully plan for it. You have to be able to literally see your life at 70 and beyond. You have to know what you will be doing in terms of your activities.
There are two relevant aspects to living after 70. First, do you have enough money to live comfortably? Second, are you busy or idle? I’ll tackle the first. If you are realistic about current economic trends or if you have a regular job and no additional source of income, then you should know that if everything stays the same you will have more month than money at 70. It is extremely important to start working on a “Plan B” to replenish your retirement savings. In my view, the Plan B that offers the most promise is Network Marketing. No other business format has the leverage and the power to grow our savings as much as we need them to grow. Network marketing offers the possibility of residual income, which is income that you make month after month after the initial sale,as long as the company is still active and consumers continue to demand the product.
Network marketing is a legitimate business format, but all networking companies are not equal in their profit potential in today’s economy. Let me offer 6 filters I use when considering the viability of a home business opportunity:
1. Has the company been in business five years?
2. Are the products better than store-bought alternatives at a competitive price?
3. Is the company solid, well-capitalized, profitable, and led by experienced businesspeople?
4. Are the products necessary or could they be dispensed with if money gets tighter?
5. Are similar products already being bought and included in most Americans’ budgets?
6. Is it fairly easy to earn commissions for recommending the products and/or opportunity to others?
The second aspect of living after 70 is this; are you busy or are you idle? Certainly, the goal is not to be a couch potato flipping the TV remote control and reminiscing your young days, is it? The goal is to continue to live a young, ambitious life. Getting up every morning and running a successful business. Below, you will find the picture of an 86 year old woman in a wheel chair who sells Mary Kay. In this picture, she was leaving the seminar stage after receiving one of the highest recognitions in Mary Kay -that of Queen’s Court of Personal Sales. She sold more that $36,000 in products in a single year and she has recruits who are still selling in her Mary Kay team. With a steady income stream and an active lifestyle that keeps her young and busy, this lady is living my ideal retirement life.
In conclusion, one of the most overlooked dangers in today’s lifestyle is living without a plan for tomorrow. Letting your retirement come as a surprise, and finding that you don’t have enough money, or don’t know what to do with your time is like playing Russian roulette with your life. These are the issues that personally keep me motivated to build my business today, so I can reap the benefits tomorrow. Fast forward to 70, I want to continue earning a steady stream of income – the residual income flowing from the investments I made in my network marketing business today. Fast forward to 70, I want to keep active, to continue building my business, to dream new dreams and set new goals.I don’t want to sit around with nothing to do, idling away, watching TV day in and day out, without ambition or a sense of direction. Fast forward to 70, I don’t want to compete with young people for entry level jobs because I’m broke and have no “Plan B.”
I strongly encourage everyone to pick a good network marketing company and get involved. Don’t let fear hold you back. I know many people who have tried several network companies and failed, but finally found the right match and are now living the life of their dreams. Don’t be afraid to fail. Keep pushing and prodding, but keep your eyes on the price – a comfortable, active life at 70and beyond.
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