Mlm Downline - What Does It Mean To Be Rich?

I guess it depends on where you are financially

. Some might say being rich is when you can go out to eat. Others might say it's when it's a certain amount in the back ($1 million). Then there are the select few like myself that believe being rich really isn't a hard amount but being able to generate income monthly to cover all expenses.

So that really depends what it takes for you to live per month. Some might only need $2k/month where others would need $4k/month. Some have their house paid off and others would prefer to always have a newer car around.

So if you have a monthly need of $4k/month and you had $500,000 saved up, how long would it take to run out of money if the money is getting 0% return? That is $48k/yr needed which would mean you would run out of money in 10.5 years. That doesn't leave me a warm and fuzzy in retiring anything early than when I'm 80 yrs old.

If you were to calculate what you would need to live, take care of your kids wedding/college/living, and emergency money then it's going to be more than $4k/month for most people. Even if you were to put the $500,000 in a 3% interest bearing account that really won't help you.

So, to be "rich" you would need money coming in when your not actually at work. I'm not talking about the vacation you get for 2-6 weeks. If you were to take 6 months off and not dip into your savings/college/emergency fund then in my opinion you are rich. This is possible IF you had a healthy MLM Downline pulling you some serious residual income.

The monthly amount could also vary from region as in Texas you can get a very nice house for $200k where in the West/East coast homes would easily be 2x that. So obviously you can't live on the same monthly passive residual income. The same goes for MLM Opportunities as all are not created equal so don't get fixated on the advertised income claims.

At work I'm part of a million dollar project. After the project goes into production, the estimate profits for the part should be 100x to 200x over the following 10 years. Now if I could only get a residual payment for everytime my design was used... ;( But I don't own that design and I don't own the company. There is the difference from working for a company vs owning your own. No matter how awesome your product that you help invent you will not get the residual income form it vs when you own the company. Marketing multilevel companies are tricky if your only targeting friends and family.

Do it correctly and get paid over and over again? Now that is a fantastic idea! Generate some MLM leads and learn how to leverage a team of people to help you reach your goals of being Rich.

by: Lawrence Tam

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