Network Marketing: The New Professionals
Network Marketing The New Professionals
Just 4 1/2 years ago after over a decade of working 14-16 hour days in the insurance and publishing industry I had 3 things hit me in the head like a ton of bricks: #1 – I was living my life around my work and losing out big on the quality of time with my family and personal interests, #2 – I wasn’t fulfilled in the way I wanted to be on a daily basis and #3 – I was living up to my paycheck every month and unable to save and invest at the pace I saw necessary to make retirement in my 50′s a reality. The average American spends $1.20 for every $1.00 they earn. As a professional, I realized there had to be a smarter way for me to be able to spend more quality time with my family, continue in my insurance and publishing business and at the same time increase my income and decrease the time it would take me to set myself up for retirement in my 50′s.
And this is coming from a guy that knows what it feels like to earn residual income (income that continues to come in after you do the work once). After all, an insurance broker writes an insurance policy for a client and continues to earn commission on that policy every year the client renews. Then I started to look at close friends of mine that were chiropractors, medical doctors, lawyers, teachers, corporate executives and software engineers and realized these people have ZERO residual income. They earn linear income (you work 8 hours and you get paid $X for that period of time and until you work another 8 hour day you are virtually unemployed with no income coming in). Relying on linear income to set you up for retirement success is like gambling in Vegas every day you wait to create an additional stream of income for your family.
When you trace the average professional from graduation of college through retirement at age 65(the 45 year plan) here is what you see:
29% dead, 63% dead broke, 3% still working, 4% able to pay their own bills and just 1% wealthy – that is 1 out of 100 people with wealth – assets that create cashflow. Now those are some startling statistics! It is time to be pro-active and prepare for your retirement.
Don’t fall prey to the most common financial pitfalls:
Mistake Number 1: Procrastination
Mistake Number 2: Not realizing that you’ll need a specific amount of money to sustain you each month when retired.
Mistake Number 3: Relying on the belief you’ll be able to draw FULL Social Security benefits.
Mistake Number 4: The under-estimation of your medical costs if you are not in good health.
Mistake Number 5: Not setting up your long-term-care insurance early.
Mistake number 6: Making the assumption that you can retire early.
Mistake Number 7: Getting into the false hope that in retirement you will be in retirement-mode.
Mistake Number 8: Failing to seek expert financial and retirement guidance.
Network marketing has been around for decades but it has only recently started to attract professionals at a record pace.
Every year, hundreds of thousands of men and women across the world working in established professional careers decide to pursue new opportunities in the booming network marketing industry—an industry that is now attracting former doctors, CEOs, and others seeking independence and financial rewards. People just like you are exceeding their incomes and prestige of their previous careers and are now living the American dream. Now I am not saying to leave your profession but at least supplement what you do. Gone are the days of thinking your salary or professional revenues are going to fully fund your retirement.
Professionals from lawyers to doctors to corporate executives are experiencing one or more of the following: lack of time with family and personal interests, lack of income to invest in stock market and real estate, work burn-out, fulfillment, lack of social relationships, etc. Network marketing can provide professionals with leveraged income that can create more time with family by limiting hours you have to work, more income to invest to become wealthy by having your money making more money, more fulfillment, purpose and ability to contribute to others lives and rich social bonding and relationship building.
Let’s face it – times are challenging no matter what you do for a living. And when you are a professional the economy can hit you hard when would potential clients decide to forego services they normally would have come to you for because they don’t have the discretionary income anymore. When potential clients are losing their jobs, having their hours and wages decreased or have huge downturns in their self-employed businesses, they don’t come into your office. This equates to less dollars in your pockets while your overhead costs stay the same. This will eventually catch up to you if it hasn’t already.
“Everyday I am talking to professionals who can’t afford the high rent they are paying because their collections are so much lower than in years past. Leases and other high overhead costs is weighing heavy on a large percentage of the professionals. You are already seeing professionals piled up in one office just to decrease business overhead.” says Timothy Feuling.
It is time to see the light. If you have hit a place in your career where you are no longer happy with what you do and you desire more fulfillment in life or you keep throwing more and more money into building your business and aren’t getting the desired return on investment then you may be looking for another way to create income and wealth. Or if you simply want to create an ‘exit-strategy’ then I encourage you to look into network marketing as a way to create leveraged income to walk yourself out of the self-employment or employment linear income, rat race trap.
Either way it is time to take a strong look at network marketing as a supplemental income stream or as an “exit-strategy” plan for retirement.
BIO: Timothy Feuling is CEO of World Wide Branding Partners and a Double Diamond Network Distributor with XOWii LLC. In addition to being on the Field Advisory Board with XOWii, Timothy Feuling is a company trainer and presenter. Timothy has authored and co-authored 5 books including his newest book due out in late 2010, “Wellnesspreneurs” all about creating wealth in the wellness industry and not just financial wealth but physical wealth and spiritual wealth. To reach Timothy Feuling simply email him at email@example.com or visit www.WELLNESSpreneurs.com