It is a very snowy day in Denver, Colorado. It is beautiful, peaceful and quiet. I am at home, cozy and warm, because I work from home. I love what I do! It is my passion to help people and to be able to do that from home is the best of both worlds!
Our economy is still in a shambles. People, with good reason, are worried about losing their jobs. Many who have lost jobs are taking a long time to find another and then end up settling for much less than they had before. People over 50 years old feel they must do whatever it takes to compete with people much younger, even though they have a wealth of experience and skills. Their years in the workforce which should be seen as an asset rather than a detriment which appears to be the case.
Retirement savings has been decimated for the second time in 8 years. Our 401K was dealt a blow in 2001 when many dot.com companies folded or rapidly declined in volume. It had just barely recovered when the current recession and stock market volatility reduced it by half again. How can we retire if this keeps happening to our savings?
Robert Kiyosaki in “Rich Dad’s: Conspiracy of the Rich: The 8 new rules of money” illustrates that people need to be diversified beyond paper assets such as stocks, bonds, mutual funds and insurance. He points out that Sophisticated Investors are in 4 investment catergories: 1. Businesses that provide passive income. 2. Income producing Real Estate. 3. Paper Assets: Stocks etc. 4. Commodities: Gold, Silver, Platinum, Oil etc.
We have made a decision to diversify our income streams in retirement. My work at home business is multi-level marketing. It provides residual income. I am building an asset that will continue to pay us nicely in the years to come. I plan to generate six-figure income from my business in the upcoming years.
My home business has many other benefits. I feel better at age 52 years than I did in my thirties and forties. I have energy and stamina to enjoy all that life has to offer. My hormone imbalance is much better balanced than it was in prior years. Also, I no longer deal with depression on gray days that seemed to get worse as I got older.
Our business income is willable for two generations. My children and grandchildren are taken care of.
I enjoy time freedom. I work when I want to. If I want to take a vacation, I do.
We plan to diversify more fully than we are now. We will add Real Estate (for income) and Commodities in the next few years. For now, we celebrate our decision many years ago to start saving in a 401K. That account will provide some income but I am so glad we do not have to depend on it for our retirement. More importantly our home-based business will likely provide the most consistent and significant income in retirement. And, it is achieved while helping people. It is a joyous mission we have taken on!
