YOUR NEST EGG, IS IT IN PLACE!!!!!
Hello everyone,
The World Cup is over, brilliant matches, players and a chance to meet other countries.
The tenacity and hard work pays off only if you stay with it. A lesson for all of us who want to succeed.
But that is not what I was going to write about.
Each week when I sit down to write my blog post, many subjects pass my desk but this stood out as most important.
An article from the AARP, the retired folks magazine, July, August 2010 magazine caught my attention, “Where Do We Go From Here?”
The article is dealing with Social Security, this mainly concerns the people in the USA. But if you live outside of the States, you may have a similar program.
And this applies to all of us, either directly, yourself or your parents, but if not now it will at some time.
I am presently retired, worked as an art consultant most of my working days with no retirement plan, so now I have to deal with Social Security.
I suggest to all my readers, please do not wait like me to start your Plan B. In my case it was a home based business. If I had been smart I would have been more serious in building my network marketing business 10 years ago, I would be closer to my dreams.
Why am I bringing this up?
Look at these statistics:
• Social security is a 75 year old giant.
• The Federal budget deficit presses into it.
• Talk is, in order to save money, cut the benefits to workers retiring 10-15-20 years from now.
• “Workers who are 55 or younger in 2011 would see their future benefits reduced.”
• Social Security is primarily financed by a 12.4% payroll tax.
• Right now 53 million Americans are receiving benefits.
• For 25 years, we have been paying in, now has a $2.5 trillion reserve fund invested in government bonds.
• This year with high unemployment and recession, less money goes in and so now money is drawing on that reserve fund.
• “The Congressional Budget Office estimates that reserve fund and payroll taxes will cover full payment of benefits for another 33 years.”
Naturally they are working on solutions to this:
• Increase the eligibility age.
• Increase payroll and estate taxes.
• Diversify the reserve funds.
Conclusion from the article is:
“Senator Herb Kohl, D-Wis who chairs the Special Commission on the Aging says, with modest tweaks , we can ensure solvency and the even strengthen benefits for those who count on their monthly check the most.”
Okay I would like to be more realistic, why wait, why depend, why worry about your investments because we saw what has happened to the economy recently. The market changes and it affects us all. We still have not reached the bottom of this recession yet,I know it will change but why ever put yourself in that delicate position.
My solution is to get out of your own way and start building a residual income. There are many ways of doing that, I chose network marketing.
If you want to stay ahead of the economic ups and downs, I would suggest take time and research the thousands of differing network marketing companies.
Use these criterias:
• A good consumable product, “you can only buy one tractor”.
• A company of integrity, there for the long run.
• Upstanding leaders.
• Good compensation plan for the average person.
•A company has a good track record.
I suggest you do not wait, but do it now. No time start slowly, but do it. You will never be sorry.
Thanks for listening,
rebecca
WOW~!
This is excellent Rebecca.
I love the picture.
There is not better time than now to begin your journey of time and financial freedom!
Hi Maggie,
This time it worked. Yes, never wait til tomorrow what you can do today. Tomorrow may be too late. thanks rebecca
As I commented on another post today, I’m once again reminded of what a wise person was quoted as saying years ago: “There is no such thing as the economy. There’s only YOUR economy.” Anyone who has ever truly succeeded in life never, ever depended on outside forces and conditions. They created the right conditions themselves. The greatest millionaires and billionaires in history created their fortunes during some of the worst economic times. They didn’t sit back and blame “the economy” or “the recession” or “the depression”. They got off their duffs and did something.
Thanks Steve for commenting on my blog. I understand that we cannot wait for something to happen, we must make it happen. Congrads on your new signup…
Rebecca:
You are so right. Too often we wait to start building our nest egg. I think, when we are young we believe that someone will always step in and take of things, if we don’t. Unfortunately, life just doesn’t work like that.
Thanks for helping to wake people up and get them thinking about their options.
Live with passion and purpose,
Vanessa
Thanks Vanessa for visiting my site. If only they taught network marketing courses in high school, so many more people would not be in the position they are in today.
I love when young people get it.
Have a great weekend,
rebecca
Rebecca, this is my first time on your blog you have great content and I look forward to reading more.
Lori
Lori, thanks for visiting my blog. I am having fun with this…I am waiting til I get to visit your blog and see what you are all about.
Have a great weekend,
rebecca
You are right, it is important to build the future based on a personal business rather than relying on social security. The facts are there. If one does not prepare now, he will struggle later.
Absolutely Mr. Dog lover. If I had been more proactive I would not be struggling today. But at least I was smart enough to not let this opportunity pass me by. Hats off to the youth
Have a great weekend,
rebecca
Hi Rebecca
You are so right on. Having a residual income or (mailbox money) from a solid Network Marketing company is as solid an asset for your future as any investment, or possibly even better. I know that there is no place on earth that you can work hard for a few years for a modest income, and retire later for a very comfortable income. That is why we have been part of this industry for over 20 years and always will be.
Thanks
Larry & Laura Morris
Hi Larry and Laura,
Are you all another cool couple on the TSA group! I see that you had taken advantage of residual income early enough, I admire smart people. I especially get excited when a young person gets it.
Have a great weekend,
rebecca
Hey Rebecca,
Great post! I am sure if everyone realised how little money they may have when they retire, they would all come running to Network Marketing shouting ‘sign me up’ lol
As you say, now is the time to take action!!
Great post Rebecca,
Sue
Thanks Sue for visiting my blog. Love it…we should have a sign that says”Sign up now for retirement!”…..It is a shame people just don’t get the amazing opportunity they are missing by not having a home based business.
Have a great weekend.
rebecca
Rebecca, Great post! My plan B was realestate. Well we all know what happened there don’t we. So, my plan C for the last 3 years is online marketing & personal development. I am so glad I moved into plan C. Like you said start now, but do it. You will not be sorry! Thanks for the informative post! Joseph McDevitt
Hi Joseph,
Thanks for the great comments on my blog post. I like your style.
YEs, is only those in financial problems would only open their eyes to the potential of having a home based business.
Have a great weekend,
rebecca
Hi Joseph,
For some reason my comments were not appearing…just doing some cleaning up…rebecca
Hey Rebecca, I only see your reply to Steve and Maggie’s comments, but I cannot see the original comments. Do you need to approve comments? Is that why they are not showing yet?
Anyway, I love that you start your post about the world cup soccer. You see, I am dutch, and since the Dutch made it to the finals, I was not very objective while watching.
As far as your suggestions are concerned the following: I totally agree that you should not wait too long to get started securing your financial future. Although a recurring income is great to have, it is not always easy to get that off the ground.
Karin,
Thanks for visiting my blog. I know that my comments are not showing. I do not know what to do…I have had a goofy blog for a while…thinking of switching and starting all over.
It is hard to switch to just residual when you need that end of the week paycheck. But I know that if I keep with it, the residual will take over.
rebecca
HOpefully now can see my comments and replies…not sure…thanks for the heads up
Rebecca…I think you are right on. The time of counting on a government retirement system is over. We just don’t have the ability to fund so many liabilities. It is of paramount importance to figure out some different answers for yourself.
Creating a residual income is certainly my first pick as well. Well done and thanks!
Hi Bruce,
Hopefully this is not repeat…some of my comments have not shown…but I agree…social security is not the answer anymore. We need to be more aggressive than that…that is why I am in network marketing. I have dreams and I want to be able to do them.
talk soon,
rebecca
Great post Rebecca!
Most people will not have enough money when they retire. With the advancements in health, people living in their eighties and nineties will become more and more common.
The scary thing is people are betting that they will die before the money runs out.
When I coach clients, I recommend putting 10% of their income into a Financial Freedom account to build investment and business income.
Home based businesses, parking lots, self storage are great options.
The point is to be able to never touch your golden goose and to live off the eggs. You will be able to pass on the goose to your family or cause where it will be in a trust that is untouchable except for the eggs.
Many of my network marketing coaching clients really like the idea that the business is willable, sellable, and transferable and structuring your business is very important long term.
To Your Genius,
Eiji
Eiji,
Thanks for the great informative response to my blog.
I know so many people that are now retired and made no plans, so life is very rough. They are living their dreams. I am really encouraged when young people are seeing the light and planning for their future.
The others need to get with it now…I am glad that you are coaching people and saving them.
Look forward to more contact with you,
rebecca
Yes, Rebecca…so many people are suffering so much, and in most cases the suffering could have been avoided. Network Marketing, when worked consistently and persistently, is an extremely viable solution ~ but yes, it requires tenacity and hard work.
Do it now…great advice!
Thanks Beth Allen on reading my blog post. We are in the best business but yes it does take hard work. It will not come to us, we need to putting our fingers out there.
rebecca
Maggie, this is weird, your blog post was posted to my comments…?????