What is the best way to secure your future?
Some may say savings is the best way to plan for your retirement. I think it is better for the bank than for you. The way the banking system works with its fractional leverage rules, the more money you lock away in the bank the more money they can loan out at interest. The interest they pay you on your savings in marginal at best if at all. If you have too much money to through around and have made all the other types of investments, I guess you could throw some into savings. But I would question your sanity. In my opinion savings is the worst thing you can do with your money. The main reason is that a dollar put away today may only have a buying power of thirty cents twenty or thirty years from now. Savings are good for short term only, like saving up for a trip or a major purchase, stuff like that.
If you have some money kicking around investments is a way better way to go. Buying an investment is a better way to start to leverage your money. Buy into mutual funds or GICs are a surer way to develop larger dividends on your surplus money. Or better yet is investing into real estate holdings, real estate holdings are good for long term investments as they produce income from tenants and typically property values rise about 2-3% a year so over twenty or thirty years you can have a nice little nest egg. The beauty of this program is that you can even leverage the equity to acquire more holding properties. If you were to do this as often as possible over twenty years you could have a nice portfolio to help with retirement. Another popular investment is into a second business, typically a franchise so it can be as turn-key as possible for you as you’ll probably still have your regular job too.
So that is all good and even great if you already have some money to invest. But if you don’t! Then what? How do you get ahead? There is an industry that is just the perfect thing for people that do not the large sums of capital needed to get into the investments world. It is the industry known as direct marketing, referral marketing or network marketing. This is an awesome way for the average person to use time as the medium to leverage up till the money starts to flow in. You see the old adage time is money is truer than you think. If you have money you can save time and start to leverage it right away, however if you do not have money the only thing you can leverage is your time. You have to be willing to commit some time to get the marketing opportunity off the ground. Once you put in some time, some other people who have joined you will start to put time in too and now you have just leveraged time. Keep leveraging time till the money starts to flow in. Once that starts to happen you can now start to leverage time and money, and that is the start of freedom.
Referral marketing generally comes in two formats. One type is you talk to people and over time build a network of like minded people who are all working towards a common goal, these are generally referred to but not limited to MLM type companies. Highly lucrative and typically have a great longevity as you are building relationships with your people, and likewise so are they. The other type is more of a passive referral type business were you put out your offering and people you may or may not know will join up on the product or concept offering. They will stay to as long as they are making money and or using the products.
I personally do a mix of both types. And so far I have better success with the first type of business model. But with that being sad I am just getting started with the latter business type. In closing I would say whatever business you decide to try, or both like I have, just grab something and get started. You will be glad you did! I know I am. Already!!
All the best to you.