Fail to Plan, Plan to Fail

No matter what you do, do you have a plan for what happens after you stop doing it? No matter how successful you are, however you’re earning a living now will someday end. What will you live on when it does? There are many answers to this question. There is not one single right answer for everyone. There may, in fact, be more than one answer. 

Perhaps you expect a financial retirement package from your current employer. Perhaps you have personal investments you expect will pay off in the future. Perhaps you’re factoring Social Security payments into your retirement.

Perhaps you’re serving your country and will rely on military retirement to subsidize your golden years.

Perhaps you have your own business you hope to sell, or bequeath, when you can no longer manage it yourself. Sadly, whatever most people are planning today will not be enough to make ends meet after a lifetime of work. Millions of Americans are finding this out all the time.

Serial Employee

Whether you LOVE what you do, or HATE what you do… are you working for someone else? If so, and your job should end for any reason, perhaps your first plan is to simply get another job. Maybe a similar job doing the same thing somewhere else. This can certainly work in the short term, and even over a lifetime… but what happens when, eventually, you can’t get hired again… which WILL happen one day.

Long gone are the days of corporate loyalty. Most people expect to change jobs several times over their working life. Whether your area of expertise becomes obsolete, your industry morphs out from under you, your personal situation changes, or you reach an age (or impairment) that prohibits you from getting another job in your chosen field… what other sources of income will you live on?

A proper Exit Strategy isn’t just for someday, it’s something to plan this day… now.

Retirement

We work hard to secure a living for ourselves, our families, and our future. Unfortunately, there are no guarantees. Ask people who worked a lifetime expecting a pension from a company that subsequently goes out of business. Ask people who invested in mutual funds / commodities whose worth evaporated over night. Ask those who’ve put their blood, sweat, and tears building a brick+mortar business only to realize an inability to sell it later when they needed to. Most family run businesses do not survive into a second or third generation for all kinds of reasons.

Diversify, they say, and I agree. If you own your own business, or work for someone else every day, keep doing what you love. All I would say is find alternative ways to build for the future that fit into your lifestyle now. The more sources of income you can create, the more chance one or more of them will insure the kind of future you anticipate.

The Urgency of NOW

Anyone familiar with the concept of an annuity, or compound interest, understands how important it is to begin early so value builds over time. Another source of income I’d like to highlight is Royalties.

Royalties are monies received over and over again for effort expended once. We most commonly associate Royalties with performers, artists, or authors who get paid every time their work sells again and again. There are, however, ways for any of us (even those not particularly gifted) to create a stream of royalty income that can supplement, or even become, our main source. But, like an annuity, it builds over time. The difference is you’re investing in yourself versus someone else, so YOU decide what your return on investment will be and YOU decide how long it will take.

A Business Model for the Rest of Us…

Many people today seek extra income through online vehicles like Affiliate Marketing, or Direct Sales of any kind. That’s fine as long as you keep doing them, but they don’t pay “in depth”. There’s only one level of income generation. Multi-level marketing, however, enables entrepreneurs to create an organizational structure that will pay a royalty percentage beyond our own personal efforts.

Whatever you pursue, please choose a legitimate, established, proven business model. We’ve chosen one that has paid out literally Billions of dollars to millions of people over the last 6 decades.

Here’s what we’re building right now, online, from home, that you may want to consider for yourself.

FreedomEffect.Biz