Whether your employed or own your own business, what is your plan for retirement? If you’re like me, you may have had your retirement well funded a few years ago, only to find that it isn’t as solid as it once was. And even if you’re doing ok today, with the increasingly volatile markets, will it be available, in the appropriate amount, when you need it?
For many small business, the owners are making money, many times very good money, but if they get sick, or stop working, the income stops. You might be able to sell the business, but unless your business is truly unique, with well established loyal customers, who will buy your business and paying you a premium.
So what do you do? If you have a nest egg, make sure your investments are diversified. And what can you expect as far as a reliable return? If you had $240,000 in an investment that returned 10% APR, the investment would pay you $2,000 a month. Just how many investments return anything close to 10% today.
Here’s one possible solution that you might consider, Network marketing. I know, your first question is probably, aren’t those pyramid schemes? The quick answer is NO, they are not. You need to be sure you’re selling a legitimate product, which is consumable. That is, if I sign on to do direct sales, but customers typically only by the product once and they need is met, you’ll probably have a hard time making any money, because you’ll be in a constant state of new customer acquisition.
If you don’t have a solid Plan B, now is the time to explore and select one. There are many great opportunities featuring great products and great compensation. Find a product line you’ll personally use and have a passion for, and then attend an opportunity meeting for the product. With a little work and a small amount of money (usually $500 or less), you can start your own business and be instituting your new Plan B.