Retirement Living - How to Avoid Becoming a Walmart GreeterIn my last post, I outlined the problems facing many of us when planning for an income that can provide a decent retirement living.

While the smiling older gentleman greeting you at Walmart might enjoy the job, I’ll bet not 1 in 100 of those men (or women) wanted to be working a low wage job in their senior years.

They didn’t have a solid Plan B.

After reading this post, you’ll at least be aware of a strong option. This plan, starting a small home based business, can generate income now that you can use to fund your retirement living investments.

It also has the added benefit that it will continue to generate income after you have decided to take a step back from the work world.

You will be able to have your cake and eat it, too.

Create a Retirement Living Through Network Marketing

Your retirement living will require enough income from your investments and your business so that you can continue living your current lifestyle even if you don’t go to a job anymore.Active Retirement Living - Couple on River Hike

You can accomplish this by starting a small Network Marketing business that you work in your spare time.

if you are willing to apply yourself to following a simple system for two to four years, you will be able to develop a business that generates a strong and growing residual income. Income that will continue whether you continue to build the business or not.

I wrote an article HERE to tell you what to look for in a Network marketing company.

The strategy I’m recommending now doesn’t involve you being in a rush to quit your job just yet.

At least not if you’re behind on your retirement income planning.

In this scenario, we need to stash as much cash as possible in your investment portfolio in order to accumulate a pile for retirement when the time comes.

How much should that be?

Your circumstances and lifestyle will provide the answer to that question, but lets say that you’ve decided you need $6000 per month in income for you to retire comfortably.

Then you need to ask, how many years do I plan on living after I retire?

Let’s assume you retire at 65 and figure you have a reasonable chance to live until you’re 95. This means you need to be able to generate that $6000, adjusting it upward for inflation, for thirty years.

We’ll assume $1300 from Social Security, meaning we’ll need $4700 from other sources per month.

If you are planning on drawing all of it from your investments, using the 4% Rule, you’ll need a portfolio of $1.4 million.

How close are you?

Don’t get too bummed out yet.

Remember, we’re going to build a business on the side.

Don’t Quit Your Day Job

If you’re behind on retirement, I’d avoid the stated goal of quitting your job and taking your business full time. At least a little longer than you might if you were 30.

The reason is, companies can go out of business.

Even a solid and stable company can fail.

You don’t want your income and your retirement living plan to fall victim if that happens. Not without a BIG safety net.

Instead, take all your profits and save them. Don’t increase your lifestyle as you build your business.

Bank the money.

You can then take some of this banked money and start to follow the strategy I wrote about HERE to start building your retirement portfolio.

Once you have a portfolio working, and you have a year’s worth of cash in an emergency fund AND you’re making 50% more from your business than you are with your job, you can think about going full time.boomer retirement - risky dice

The nice thing about your network marketing income is that, even after you retire from your regular work, it will keep generating income. This means you have to draw less from your portfolio. That provides you with security and peace of mind to enjoy your retirement living.

So back to that $1.4 million.

If you’ve created a network marketing business that generates $4700 per month in residual income, you have effectively created an asset worth $1.4 million.

To do that in most companies would require you to build a sales team moving about $60,000 per month in volume.

Here’s how you do that:

Step 1: You personally use $75 per month in your company’s products. You find three customers (THREE!) who buy $75 in product from you each month.

Step 2: You find 4 people who also want to secure their future and teach them to each find three customers.

You then teach your 4 people to each find 4 people of their own. That will give you 16 people in your 2nd generation and a total volume of $1500.

Step 3: You help your 4 people to teach their 4 people to each go out and do what you’ve done: get 4 people who each get 3 customers. That puts 64 people on your 3rd generation and total volume of $25,200.

Step 4: You help your 4 people to teach their 4 people to do what they’ve already done and that will put 256 people on your 4th generation. 340 total people in your group, generating $102,000 in monthly volume.

Yes, I know as well as you that models never duplicate perfectly in the real world. Your organization will not look exactly as I’ve described.

But…

Do you begin to see the possibilities with this model?

Do you understand that you can build a significant income without having to personally recruit hundreds of people?

You find a few, who find a few, who find a few. And the magic of compounding does the rest.

You can create a comfortable, secure retirement living for yourself, even if you are way behind right now.

Did this article help you? If so, I’d appreciate it if you’d share this on Facebook.

I’d also like to hear your thoughts on retirement, retirement savings and what each of us can do to avoid being a Walmart greeter when we’re 65. Drop a comment and let’s talk.

steve norris

Find me on Facebook
or Twitter: @IAmSteveNorris
or Skype: norris.steve

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Steve Norris
Steve Norris

After a lifetime of some successes, more near misses and even more outright failures, I find I've gained some skills and some wisdom along the way. I'm in the continuing process of developing more of the former and hopefully a little of the latter as well. I've reached a point where my primary interest is to develop an income that can support what I call a Location Optional lifestyle. I want to live where I want, how I want and when I want. A little narcissistic, I know, but there is only so much time in life and there are still many places from where I have not seen the sun rise. Fortunately, I've been blessed with a wife who feels the same way.