Would You Join A Multi-Level Marketing Company For Retirement Income?
At some point in your life you’ve been pitched a multi-level marketing (MLM), direct selling, or network marketing business opportunity.
While the pitch varies from company to company, it basically promises a chance to ditch your 9-5 work schedule, be your own boss, and make lots of money while making new friends in the process.It all sounds good on paper, yet there is a seemingly endless debate over whether these companies and programs are legitimate business opportunities or not, so I dug in and got the real scoop.
As a result, I believe that the entire industry is poised for explosive growth and can be one of the most significant solutions to America’s current retirement savings crisis.Initially, that may sound like a bold statement, but it’s not if you understand retirement the way I do.
The reality is, making a successful transition into retirement has more to do with psychology than with money… and the same may hold true for multi-level and network marketing.Don’t get me wrong, money has a role in retirement, but it’s not the primary one every one gives it. Combine that concept with eye-opening statistics like AARP’s estimate that half of all baby boomers (76 million) are interested in starting a business and the makings of a massive trend are in place.
As far as the retirement saving crisis is concerned, more and more people are coming to terms with the fact that they probably aren’t going to be able to save enough money to just sit around and slowly deplete their nest egg from age 62 to 100. With the average 50 year-old estimated to have less than $50,000 in retirement savings, there is an obvious need to find alternative ways to either save more or generate supplemental income starting now, and continuing throughout retirement.
Moving beyond just the dollars and cents, boomers are growing tired of feeling guilty or bad about their past savings habits and are interested in moving towards possible solutions.Another growing reality that could benefit MLM and related businesses is the increasing number of baby boomers who are disenchanted with their current careers.
They’re worn-out from years of the corporate grind and don’t feel the connection between their job and the people it impacts outside their office walls or company grounds. They’re shifting their focus from accumulating a giant nest egg to a desire to be part of something bigger and better… to have a positive effect on others… and working in retirement. Facets of life that can be fulfilled with specific types of products and service available through some MLM or Direct selling opportunities.
Opinions expressed by Forbes Contributors are their own.