In today's economy, you've got to take on a whole new look about retirement. Current retirees are finding out that their pensions are being canceled or their investments are dropping faster than the Titanic. Many employees that were close to retirement are now discouraged because they now realize they're going to have to work another 5-15 years before than can retire due to current conditions. And the younger generations just laugh and say, "At least you had a chance," as they watch social security dwindle with no promises of a pension whatsoever. Now is the time to think drastically different when it comes to making your retirement bulletproof with recession proof businesses.
You can do several things, but I'm going to be talking about creating another income stream outside of your retirement fund, current full time job, or what ever other income you may have. First know that if you only have ONE income, you're taking a big risk. If something happens to your job, you're out of luck. I'm not comfortable with that, and you shouldn't be either. If your company doesn't want you to work on anything outside of your job, keep it to yourself. But understand that they don't own you. They "rent you" for 8-10 hours per day. And trust me, that's long enough.
The next concept you need to understand is the concept of creating an asset that will pay you over and over.
Many people in the past have created fortunes with commercial real estate, or multi-family homes by creating rental income. But that can take a big investment and be a big risk. The same goes for owning a franchise or traditional business.
Instead of leveraging a large sum of money, you can leverage your time... And several types of businesses allow you to leverage other people's time as well. One of the most successful and recession proof businesses that has done this over the years in the direct selling industry.
Why? Low startup costs, low monthly maintenance costs, very little risk, and the ability to create an asset that will pay you until the end of time.
By leveraging a team of people, you can create a long term income that will continue to come in regardless of the time that you put in yourself. Just about every industry has a direct sales company with this type of compensation plan. Find a company with a long track record of success, find a knowledgeable mentor, and take massive action to create your recession proof business.
You can do several things, but I'm going to be talking about creating another income stream outside of your retirement fund, current full time job, or what ever other income you may have. First know that if you only have ONE income, you're taking a big risk. If something happens to your job, you're out of luck. I'm not comfortable with that, and you shouldn't be either. If your company doesn't want you to work on anything outside of your job, keep it to yourself. But understand that they don't own you. They "rent you" for 8-10 hours per day. And trust me, that's long enough.
The next concept you need to understand is the concept of creating an asset that will pay you over and over.
Many people in the past have created fortunes with commercial real estate, or multi-family homes by creating rental income. But that can take a big investment and be a big risk. The same goes for owning a franchise or traditional business.
Instead of leveraging a large sum of money, you can leverage your time... And several types of businesses allow you to leverage other people's time as well. One of the most successful and recession proof businesses that has done this over the years in the direct selling industry.
Why? Low startup costs, low monthly maintenance costs, very little risk, and the ability to create an asset that will pay you until the end of time.
By leveraging a team of people, you can create a long term income that will continue to come in regardless of the time that you put in yourself. Just about every industry has a direct sales company with this type of compensation plan. Find a company with a long track record of success, find a knowledgeable mentor, and take massive action to create your recession proof business.
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