Lately I've seen an ad on TV where people are carrying around a big orange number. The idea is that this number is the amount of money that person needs to save so he or she can retire comfortably. The ad generated a strange response in me - one of anger - and I wasn't exactly sure why.
Then I realized it wasn't really anger I was feeling, it was more of a sense of desperation and anxiety. My wife clued me in that that was exactly what this company wanted me to feel, so that I would be inclined to follow their advice. That's what negative advertising is all about. It did get my attention, but I don't think it generated the kind of response that the company was hoping for.
This financial company wants you to become a client of theirs and they will advise you on how to save and invest so that you can reach your orange number. While I'm sure they are very good at what they do, I think this ad is more geared toward those in their twenties and thirties. What about those of us in our fifties? My savings are minimal, and I just don't see the possibility for me to increase them to one million dollars plus in the next 15 years, even I had Warren Buffet as a financial advisor!
What are people my age supposed to do? I've decided that I'm going to generate multiple streams of income coming into my bank account every month for the rest of my life. Furthermore, I think this is a great solution for most baby boomers. How do we really know what that number is, anyway, with the rising cost of gas and the decreasing value of real estate. These are uncertain times. So how do we generate those multiple streams? Here are a few ideas.
1. A reverse mortgage on your residence. If your house is paid off or mostly paid off, you can borrow against the equity in order to get monthly payments, get a lump sum, or just have the money available as a line of credit.
2. You could get a job. Maybe all you'll need is a little extra to supplement your pension, savings, and social security. A part-time job might fit the bill to help you stay afloat.
3. You can purchase a franchise. There are all kinds of businesses out there if you're willing to put up the capital to get started. Some are very expensive, and some aren't. Do some research, this might be a great option.
4. A traditional home-based business. Do you have special skills, talent, or training? You could market yourself or products you create on Ebay or Craig's List. Maybe you know how to build furniture, or do taxes. The possibilities are endless.
5. An internet-based business. There are tons of merchants who pay affiliates to promote their products and then pay a commission on any sales that are made from those promotions. You don't need to have and inventory, you don't even talk to the customer, you just send them to the merchants website. This is a good option, because it frees up your time as it's residual income that keeps coming in month after month.
6. A network marketing business. This is my top choice for the simple reason that it offers both leveraged incom and residual income. Leveraged income means that you sign up distributors underneath you, and you are paid a small part of any sales they generate for the company. Residual income is accomplished by setting up customers that continue to buy your companies products on a month-to-month basis, and you earn commission on every purchase they make.
These are a few ideas. Everyone is different: you'll have to discover what works for you. But do something, it's never too late!
Then I realized it wasn't really anger I was feeling, it was more of a sense of desperation and anxiety. My wife clued me in that that was exactly what this company wanted me to feel, so that I would be inclined to follow their advice. That's what negative advertising is all about. It did get my attention, but I don't think it generated the kind of response that the company was hoping for.
This financial company wants you to become a client of theirs and they will advise you on how to save and invest so that you can reach your orange number. While I'm sure they are very good at what they do, I think this ad is more geared toward those in their twenties and thirties. What about those of us in our fifties? My savings are minimal, and I just don't see the possibility for me to increase them to one million dollars plus in the next 15 years, even I had Warren Buffet as a financial advisor!
What are people my age supposed to do? I've decided that I'm going to generate multiple streams of income coming into my bank account every month for the rest of my life. Furthermore, I think this is a great solution for most baby boomers. How do we really know what that number is, anyway, with the rising cost of gas and the decreasing value of real estate. These are uncertain times. So how do we generate those multiple streams? Here are a few ideas.
1. A reverse mortgage on your residence. If your house is paid off or mostly paid off, you can borrow against the equity in order to get monthly payments, get a lump sum, or just have the money available as a line of credit.
2. You could get a job. Maybe all you'll need is a little extra to supplement your pension, savings, and social security. A part-time job might fit the bill to help you stay afloat.
3. You can purchase a franchise. There are all kinds of businesses out there if you're willing to put up the capital to get started. Some are very expensive, and some aren't. Do some research, this might be a great option.
4. A traditional home-based business. Do you have special skills, talent, or training? You could market yourself or products you create on Ebay or Craig's List. Maybe you know how to build furniture, or do taxes. The possibilities are endless.
5. An internet-based business. There are tons of merchants who pay affiliates to promote their products and then pay a commission on any sales that are made from those promotions. You don't need to have and inventory, you don't even talk to the customer, you just send them to the merchants website. This is a good option, because it frees up your time as it's residual income that keeps coming in month after month.
6. A network marketing business. This is my top choice for the simple reason that it offers both leveraged incom and residual income. Leveraged income means that you sign up distributors underneath you, and you are paid a small part of any sales they generate for the company. Residual income is accomplished by setting up customers that continue to buy your companies products on a month-to-month basis, and you earn commission on every purchase they make.
These are a few ideas. Everyone is different: you'll have to discover what works for you. But do something, it's never too late!
About the Author:
Matt is an internet marketing guide, teaching people how how to build their online business. His focus is on attraction marketing. You can view more information at Baby Boomer Retirement Plan.
No comments:
Post a Comment