MLM as Retirement Planning

Early last month, NPR ran a series exploring the impact of the stock market crash and subsequent recession on Americans' retirement plans and resources. The need to rebuild retirement nest-eggs that have fallen 40% or more in value was understandably daunting. "It was really frustrating and (my husband and I) discussed, well should we stop investing and invest all the money in a vacation home," said Victoria Banales, an educator from Idaho. "I distrust (the market), but on the other hand I also keep investing, hoping somehow we'll find some kind of combination that will still help us save for retirement."

That seemed to be the general sentiment. I don't trust it, I don't understand it, I don't like it. But I keep putting money into it because, well, because I don't know what else to do.

So here is an idea that may seem a little out of the box but, upon closer examination, makes a good deal of sense (at least to me). Find yourself a good direct selling/multi-level marketing company (I've talked about what took look for and what to avoid in an MLM company before), one with products you like, want to use and do believe in. Become a distributor at the highest profit level that you can comfortably afford. Start to consistently devote time to it, every week. This doesn't have to (and should not) take over your life. It doesn't have to seriously cut into your family time or interfere with your career. The key here is consistency. Doing something every day, every week, even for just a couple of hours. Obviously if you devote more time you should achieve success faster, but the important element here is to be consistent.

If you have chosen well and work consistently, you will begin to generate residual income. A couple of hundred extra dollars a month could well make the difference between being able to retire and having to keep working. A few thousand dollars a month could lift your retirement lifestyle to a whole new level. You can stop working this business whenever your income reaches a level with which you are satisfied, and continue to receive that income for many years after, perhaps even for the rest of your life (and, in some cases, your children's lives). And, of course, you don't ever have to stop working at it a few hours a week unless you really want to. No booms and crashes to fret about, no worries about "running out", no concerns over changing government rules or company accounting "adjustments".

Now make no mistake, this is no "get rich quick" scheme. Like anything else worthwhile it takes effort and it takes time. But what else are you doing right now that will continue to pay you a few hundred or a few thousand (or even much more) dollars every month for the rest of your life? So there, Victoria, is something else you could do. Maybe its not right for you, but you owe it to yourself to evaluate and consider it.