Each person has their own idea of wealth.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. It sure would be nice to have that new car you were eyeing or pay off your home loan.
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.
When family expenses, kids care, education, wedding and medical emergency enter the scene, you’ll find out that you’ll need much more than $4000 a month. In this case, even a 3% return on your $5,00,000 isn’t going to help you.
So, to be “rich” you would need money coming in when your not actually at work. By this, I don’t mean the yearly vacation time you get. 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.
There are obvious differences in the amount you’d need depending on your location; in Texas, you could get a decent house for as low as $200000 while in the West or East, you’d need twice that amount. This means you can’t manage with the fixed residual income you get every month. The same goes for any MLM Opportunity 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. Just think how much I’d be able to earn if I were to be paid each time my design was used. But then, the truth is, neither the design’s mine nor the company. There is the difference from working for a company vs owning your own.You may have helped your company produce a great product; but since it’s not your business or your product, you don’t get a share in it. However, marketing multilevel companies, don’t just aim at your friends or relatives.
Do it correctly and get paid over and over again? Now that is a fantastic idea! All you need to do is set up a system to tap MLM leads and get to know how to manage your downline in order to take you to new levels and make you just what you want to be; Rich!





