Saving For Retirement – It’s Time To Think Leverage

As I was scanning the Sunday newspaper recently (August 19, 2007), a well respected advice column called “Ask Jill” (Jill McGillen) caught my eye. The column was entitled “Working After Retirement”. A questioner named “N” wrote: “Dear Jill. I am nearing retirement age and can’t quit (working) because I haven’t saved enough money. However, physically I cannot continue to work in my field. Can you recommend good jobs for seniors?” I was once again reminded of the millions of people who, like “N”, have difficulties saving for retirement, have not saved enough money on which to retire, and have to continue working at whatever job is available for them or plunge into a nightmarish retirement where their income is significantly reduced.

Now take a look at Jill’s response: “Dear N: First, you are not alone. Pollsters estimate that only 25% of the older Baby Boomers have saved enough to retire at retirement age. The following jobs are recommended for seniors who need or want to work into the retirement years. The complete list and text can be found in the June 17 issue of US News and World Report. By the way, if you would consider moving from the expensive Bay Area, the same June 17 magazine issue identifies less expensive places to retire.”

In other words, why not consider uprooting yourself or yourselves, and move away from your familiar surroundings, extended family, friends, and church family and go somewhere unfamiliar and cheaper. Moving to another location may be desirable for you and if it is, by all means do it. Moving should be a choice, however, not something you’re forced to do based on finances.

Jill goes on to list six job possibilities, one of which is Home Based Entrepreneur, about which she said: “With the advent of the internet, this type of work will grow exponentially over the next several years. Consider what you know and like as a starting point…profitable options (include): editor, tutor, virtual assistant, e-book editor, and affiliate marketer…” What I found to be of particular interest was the fact that only one of the job possibilities was a paycheck-to-paycheck job. Of equal importance was the fact that the Home Based Entrepreneur suggestion was accompanied by a reference that the internet will grow exponentially over the next several years. I’m not sure that even Jill knows the significance of that statement.

Truly, the internet has made many home based business opportunities “stay at home” businesses. In addition, many network marketing and multi-level marketing businesses have incorporated internet marketing into their operations. What this means is the ability to now use leverage to build wealth in ways that have never before existed in the history of commerce. Network marketing is one of the few ways that the average person can start a business with a small to modest investment and by using leverage, grows his or her business to six figures or more in a relatively short period of time.

Remember, you do not have to live on less in retirement. No matter where you are right now financially, you can build and enjoy a Million Dollar lifestyle retirement.

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