Personal Finance Archives - Mark Balderrama

I’ve stated a few times about how an MLM is a unique business concept in and of itself:

Low up-front costs compared to owning a small business;
Plug into an already well-established company with products, support, and training;
Constant development from successful entrepreneurs;
Unlimited earning potential;
Zero education requirement;
Automate your business through online tools;
Be your own boss.

Building Your MLM Can Last Generations

To some, it may sound too good to be true. The fact is, MLM’s are simple. However, there is a distinct difference between “simple” and “easy”. If you think about it, anything worthwhile in life takes hard work:

Meaningful relationships with loved ones;
Personal health & well-being;
Raising children;
Saving up for and planning travel and leisure;
Contributing to something worthwhile and fulfilling.

An MLM can offer someone the life they’ve always dreamed of. With hard work, dedication, and staying plugged in to daily, weekly, and monthly habits that generate financial freedom, it is very possible. Let’s talk about how MLM’s can provide supplemental and retirement income that last; not just today, or next year, but for years and decades to come for you and those with whom you choose to share it.

MLM For Supplemental Income

There are a few reasons why MLM businesses are perfect for building supplemental income for yourself:

Work it as a side hustle: If you’re worried that resigning from your current position would put you in an unfavorable position financially, you can begin working your MLM business as a side hustle. This means that while you begin to learn the product, develop plans with your mentors, and implement success strategies, you can sustain your current situation with your full-time or part-time job. The freedom of your own MLM business allows you to choose your own hours.
Build with your upline: In MLM, you are less of an employee and more of an equal partner. The people in MLM who are winning will expend as many resources as you need for you to win. It’s one of the greatest industries in terms of receiving the time and attention from successful people.
Build with your downline: The opportunities available to you as a leader in your MLM business are virtually endless. Time and time again, we hear about wealthy people who are unhappy. Why is this? Well, it comes down to fulfillment. Are you building something greater than yourself? Are you giving back to a worthwhile cause and developing others to do the same? The answer with MLM is yes. You can provide training, inspiration, advice, documentation, recommendations, and so much more when you make your MLM business less about you and more about helping others win. And in the end, when they achieve their goals, then so do you.
Millionaires have multiple streams of income: This rings true especially in the MLM industry. The average millionaire has five to seven streams of income, and with your team, so do you. Thanks to the MLM business model, your business volume (and therefore your profit) is generated by not one, not two, not three, but many individuals with common goals. By staying plugged in and being a leader in your team, you can create a healthy and thriving income that is as part-time or full-time as you make it.

It’s clear to see the benefits of amassing supplemental income through your MLM business. Not only that, but you are helping others to build the life that they’re after. As an introvert myself, it never ceases to amaze me that no matter how much someone likes the company of others or prefers that of themselves, how universally desired the trait of contribution is to every single human being alive.

MLM For Retirement Income

Now, let’s look into how your MLM business can tick the boxes of both short-term and long-term wealth creation. Because oftentimes we have the “here and now” problems of today/this week/this month in the forefront of our minds.

However, when done correctly, the MLM industry is capable of providing for you and your loved ones into the future. Mind you, if it was easy, then everyone would be doing it. But with the simplicity of this business, it makes sense how your expenses into retirement can be covered:

Working while you don’t: The beauty of leverage is infinite. What I mean here when I say “leverage” is capitalizing on the opportunity of passive income. Just as Bruno Mars gets paid each time a song of his plays on the radio, or a landlord gets paid every month when rent is due, you get paid for the work you’ve done in the past. This is mainly through the monthly auto-ship purchases if you sell goods, and the monthly membership fee if you sell services. It varies from company to company, and this is the general idea. When customers receive value through your offerings, then it is a win-win situation for you and for them.
A team that lives on even when you step back: Thanks to your demonstration of leadership, development, professionalism, respect, and kindness that you have shown over multiple years, the people in your team become leaders themselves, and that’s where the fun truly begins. You have shifted from the forefront to more of a consulting role. You have garnered a series of trainings and plug-and-play instructions, as well as a thriving community of like-minded individuals who want to win, and this combination boosts the success of everyone in your business. New leaders consistently prove themselves and you are no longer required to put in as much work as before, since others are now at that level.

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Creating the Life You Want

All in all, the opportunities within the MLM industry are vast and plentiful, and we are not slowing down anytime soon. It is the perfect alternative for hard-working individuals who want to create supplemental income as well as retirement income through the beauty of togetherness, quality products, and leverage.

If this sounds like a worthwhile pursuit for you and your life goals, feel free to take a no-cost tour of the MLM business I have grown to love, and learn about how it works. You can contact me at any time and I will be more than happy to help, or you can read my story and learn about my background as a person interested in generating income online using modern techniques. May you find fulfillment in doing what you love.

This is the Hottest MLM Right Now! Click for a Free Tour!

Thanks for Reading!

Mark Balderrama

MARK

Personal Finance, Retirement

Retirement Tips to Consider As You Make Your Plans For The Future

March 4, 2019January 29, 2023 healthywealthywise365

investment2

If you search on the internet for “Retirement” you will get millions of findings. About 1,080,000,000 results on google came up for me. You need to be more specific on what you are looking for here. Most of us that are still in the planning phase of our retirement may need to learn more about how much it takes to retire or find a retirement calculator. Other will be looking for investment options or even places to live when they retire.

I recall seeing different options as I was entering the workforce than we have today. I did not choose to work for the government or a company that was unionized so most people like me did not get a option for a pension plan. Most us have the option of a 401K or another type of employer savings plan, Social Security and other personal savings.

I spend a lot of time thinking about how much is enough to have and what will the best timing be. One thing I remember a very wealthy man telling me was that retirement should be decided by income, not by age. He felt that most people spend 40 hours a week for 45 years working so they can retire on about half what they had been earning or less. Seems right. Hopefully we can get our income where we need it to be to retire at an earlier age than 65 or 70.

CASH FLOW

I guess now, I am focused on creating as many different streams of income as I can to support me in the retirement years. In addition to the ones above I am focused on creating additional cash flow. This probably more important than having a home that is worth $500,000, because you can’t spend it. Cash flow is what is needed to support your daily living expenses. Sure you can take some of the earning from your various plans but if you take too much the principal balance diminishes and the earnings will be reducing instead of increasing. Not Good.

Tip #1-You should look into creating cash flow, not just savings.

cashflow

INFLATION EFFECTS

According to an article written by Richard Quinn, called “10 retirement lessons from a retired retirement pro” he gives us this lesson #5 from his list

“5. Inflation is real. For many people, health care spending, property taxes and rent will be the big inflation concerns. There’s no escaping inflation, so you need to plan. I would suggest having a pool of money that you leave untouched and allow to grow, until you need it later in retirement to offset increasing expenses.”

It certainly gets you thinking about how to offset for this doesn’t it? As our money sits in savings accounts that don’t earn enough interest to beat the inflation rate the actual purchasing power actually reduces over time.

Tip #2- Don’t forget the impact of inflation on things that we actually buy.

WALMART GREETER?

Some people joke about being a Walmart greeter after they retire because they will need to continue working in their retirement years. For some it is to continue to be productive and remain part of something. For others it is to add some needed income. I recall talking to a older guy I worked with. We were discussing when we would retire. He said “I’m never going to retire, I don’t want to sit in a rocking chair and do nothing for the rest of my life”. I thought that was odd actually, because I thought that retirement is when you get to do everything. I realized later on that he wanted to stay active and contribute to something. I think that his fear was of not being useful anymore. I can see now that he was not considering all the options. He was a skilled trade person who could teach others his skills. He could have taken on a business or even began another career after his main one ended. Many people are just working until they can no longer do it, due to health reasons.

Consider the options you may have as you consider retirement. You may be able to run a business, be a consultant to the industry you worked in or work in another field entirely if you want. No one says it’s a requirement to retire into a rocking chair or anything.

Tip #3 Consider planning to work longer than your employer may want you to. Consider the options above or look into creating a passive income, that can continue to support your lifestyle.

In any case you need to think about what you are going to do. No decision, is still a decision and leaving it up to chance may not be the best method. If you need help from a profession planner make sure they are reputable and make an appointment. For a look into one of the best options for Retirement Income take a look HERE!

Thanks for reading!

Mark Balderrama

Gen X Passive Income, Personal Finance, Retirement

Why You Should Set Up a Retirement Income in Network Marketing

October 6, 2018June 12, 2023 healthywealthywise365

Today you have many financial options to help you in planning for your retirement years. Unfortunately a pension is not one of them for many of us. I am in the working group that came in on the tail end of companies offering pensions. I do actually have one from the first company I worked for. It’s not much but it will add a few hundred dollars each month when I decide to retire.

How will my 401K plan work out?

What is currently the main financial method for saving for retirement is a 401K plan or something similar. I have one and you probably do too. These are offered by many employers to their employees. Some people set up their own plan called an IRA or Individual Retirement Account. There is nothing wrong with them, except you cannot do much to control the return on your investment other than hope that when you do retire the market timing is good.

For many people during the recent recession the stock market crashed. Most 401K plans invest your money in the stocks and bonds. If you check you account statement you can determine what your money is invested in. Sometimes when you decide to retire the market is down and so is the value in your account. This will directly affect your monthly income withdrawal amounts if you want to maintain your principal balance.

In some extreme cases it may delay your retirement date indefinitely and force you to still work.

Older Americans Are More Afraid Of Running Out of Money Than Death

“According to a recent Transamerica study, 43% of workers 50 and older claim that their greatest retirement-related fear is outliving their savings.” Now that’s a scary thought! You can read the entire article HERE.

What’s An Alternative?

There are many other investment opportunities out there but you need to weigh the risks. One of the lowest risk opportunities to assist you in setting up an additional retirement income stream is to start and build a network marketing business. There are literally dozens of different legitimate and well run companies now you can join. The investment you mainly will make is time and small amount of money. The return on that investment can make the difference in your retirement years, and it may only take as little as two years to set up a few thousand dollars per month extra income. Plus you don’t have to quit your present job to do this business in your spare time.

The better news; it’s not like a job so it keeps coming in after your retirement.

Time Will Go By Anyway

The interesting thing about time is that whether we do anything or not to add the additional income, it will continue to pass us. Meaning, the two years will pass even if you don’t make the business investment. Consider this option to help you diversify your income in your retirement years. It would be best to have multiple streams of income to offset any risk of loss in any single source. Its always a good idea to Hope for the best and plan for the worst. Do some research and check out the opportunities. You really have nothing to lose and something really good to gain.

FREE Tour of a Simple Business that Pays a Full Time Income from Home

Thanks for reading!

Mark Balderrama

Best Home Based Businesses, Personal Finance, Retirement

Why You Should Have A Retirement Income

September 24, 2018June 12, 2023 healthywealthywise365

Retirement worries couple

If you are thinking about your retirement days you probably have the same worries as most of us do. How much income do I need and how can I save that much?

How Much Income Do I Need?

There are many retirement calculators out there, but it is sometimes very disappointing to find out you cannot afford to save as much as they say you will need to. In any case most people live paycheck to paycheck and we don’t hardly stop to think about exactly how much we need to retire on. Most experts have you factoring in that you will spend less in your retirement years, but is that really accurate?

First, figure out what lifestyle you want to live. If it’s the same as you have now while you are working; then that may require some additional income streams to be able to provide it. If you really look at the cost of living you will get a better picture of what things will cost in the future. Don’t use the government inflation rates as they are not accurate when it comes to things people really buy. Things like food, gasoline, heating oil, electricity and health care. Those items seem to go up continually at a rate that far exceeds the annual inflation rate. So you need to prepare for that.

Additional Income Streams

For many people the amount of retirement savings and investments will not add up to enough for them to live the desired lifestyle when they retire. In some case they may not be able to retire at all.

Financial experts seem to only talk about two options. Save more and live on less. Both of these are fine ideas but there is another option to add into that plan. Start your own online or home based business. Many people do not consider this option because they assume you have to go into debt or quit your job to be able to start and run a profitable business.

That’s just not the case anymore

Today for less than $100 you can start and own your own business. Having a second stream of income outside of your job is smart on more than one level. Yes it can be used to supplement your current job income. It also can be sent directly into your retirement vehicle. Or you can simply use it to reduce your debt. Pay off your home early or just save it.

The great news is that after you retire from your employer you can continue to grow your business and that income can grow to greatly supplement your retirement income. It may even surpass it one day.

Early Retirement

For some people retirement means doing nothing but hanging around their home and for others it means traveling the world. Some people think that when someone retires they don’t do anything anymore. I think that’s not a very accurate depiction of the retirement years today. The old mentality of old people sitting in rocking chairs at Shady Acres Rest Home is a long way from most peoples retirement goals.

What if you had enough income to retire early what would that be worth to you? What if you could retire from your job 5 years early? Or even just 2 years? There are now tens of thousands of people who are growing various online and home based business opportunities. There are websites and even magazines dedicated to helping people find a business opportunity that can be built in your spare time. Some of the best are discussed in my other article here.

For most people today, retirement means freedom; to do what they want. When they want. There is no doubt that you will now have the time. But will you have the money?

Time and Money

Start to consider the current retirement plan you have. If you don’t have one start looking at what you need to do. Many banks and even your employer can help you get started.

It can be pretty scary to finally face the reality that you need to have more income to really have the retirement lifestyle you want. Both Time and Money!

If you look around many people who have a lot of time, don’t have any money. Likewise the people who have a lot of money don’t have a lot of free time.

Set your goals to have both, in your retirement years! That’s why we work so hard right?

Lets recap:

#1 identify your desired Retirement Lifestyle

#2 Evaluate your current retirement plans to see if it matches up to #1

#3 Adjust the plan as needed. Not the goal. Keep your goals and adjust your plans, always.

#4 Set up additional income streams if needed

Don’t give up. Just keep thinking and learning about what the options are and how you can achieve your goals. Then make a decision and get started.

If you are interested in learning more about one of the best home based business options we have found take the Free tour!

FREE Tour of a Simple Business that Pays a Full Time Income from Home

Thanks for reading!

Mark Balderrama

Best Home Based Businesses, Best Network Marketing Companies, Personal Finance

How will I pay off my Student Loans?

July 20, 2018June 12, 2023 healthywealthywise365

reducing student debt

Americans owe more than $1.4 trillion in student loan debt, and the average debt for a 2016 grad was $37,000. That’s a lot of money, so if you’re among those feeling the pinch, you might be wondering how you even begin to start paying it back.

One of the things you can consider is to set up a budget to make sure you can track all the things you spend money on and make sure you know when you can spend on travel or a luxury item.

Pay Yourself first

One of the best things you can do to stick to a budget is to pay yourself first. I know, your thinking what??? I just got paid. How do I pay myself first?

Here’s how! Setup an automatic transfer the day after you get paid! Have it come from the account you deposit your paycheck in. Then transfer it to the Savings account automatically. If you have Auto Deposit as many people do then it’s even easier.

You wont even notice the money was not available to pay bills or living expense, but you will see your savings grow each time you get paid. Start small like $25 or $50 and then add more as you get used to it. If you don’t have a savings account you can use an envelope to keep your “pay” in.

Then use the rest of the money to pay your bills and living expenses. Why should they be paid before you anyways. You earned it and it can also be used in an emergency if needed. As you accumulate more money in the account you can invest it in a fund or account that can return a higher return and grow it even more.

Student debt rock

Work Extra Hours at your Job

You can work extra hours or ask if you can cover a shift or two to earn extra money to pay off the loans faster. Just remember to actually pay it on the school loans when you get it. You don’t have to wait until the due date and most loans can be paid more than once per month. You can pay every two weeks when you get paid if you want. Just make sure it is applied to your principle. This also reduces your total interest you’ll pay and shortens the loan by months or even years.

Ask for a Raise

You would be surprised to know how many people wait until their annual review then are disappointed about what they received only to wait another year and repeat it.

You can ask for a raise from your employer and take charge of your own future. Here’s what I have done and recommend to others.

#1 Create a list of all the things you do for your employer that are bringing them value, cost savings etc. Your Manager may be very busy and not be aware of all you do! Attach dollar values to actual savings. For example, if you found a way for the company to save on copier paper by buying in bulk. Capture the actual dollars that will be saved in a year.

You probably are doing things all the time that are above and beyond and you just need to capture them and illustrate your value.

#2 request a meeting with your supervisor or manager for a few days from now and don’t just barge in and expect to get a positive response. Set the subject as a “discussion of your performance as buyer” or whatever your position is.

#3 be prepared and objective about your contribution to the company. Have two copies of your list of “contributions” so they can read along. DON’T list out “showed up on time every day to work for nearly a year” that is what is expected of you and what you already get paid to do. Be honest though, if you are frequently late, disagreeable or a complainer and don’t do more than what they pay you for; you may need to be satisfied with your current pay. I suggest changing those behaviors and you will achieve more.

#4 Be specific about the amount you want. Say “I would like a 10% raise” or maybe its more flexible hours. Whatever. If they say they cannot offer you a raise. Then ask what you would need to do at work to earn that raise and over what period of time.

If you get nothing; you’ve lost nothing. Remember it is actually hard for them to say no to people who can demonstrate their value in the workplace. Especially on paper.

Student debt speech

Start a Business of your Own

You can always start your own business to earn money in your spare time. If you love crafts and are very “crafty” then sell your items on Ebay or Etsy. Its easy and you can do it in a few hours per week.

If you are good baker or just good in the kitchen, then you can start selling Cupcakes or Candy Apples online or at fairs. I see these items on Facebook Market Place all the time.

One of the easiest and lowest cost ways to start a business is to join a Network Marketing Business. The cost is as low as $49 and you can get free training. Access to great people who will help you and show you how to do it. You can easily make enough to make the School Loan Payments.

Who knows in a few short years you may be able to earn more from your business than in your Job and you can decide what to do next.

One of the Best and Fastest Growing Network Marketing Companies is called LiveGood and has a FREE Tour you can take. Maybe you should check it out!

Free Income Opportunity TOUR

In any case stay focused on what you want to achieve. Make a Plan and stay with it. You will reach the goal of paying the student loan off and ending up with some money in your savings too!

Regards

Mark Balderrama

Category: Personal Finance

How an MLM Can Provide Retirement or Supplemental Income

Building Your MLM Can Last Generations

MLM For Supplemental Income

MLM For Retirement Income

Creating the Life You Want

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