‘How do you expect to have a decent retirement income if you only start working at it at age 45?’ This was a rhetorical question my financial manager asked that kept on ringing in my ears for the longest time. You guessed right, I got stuck with no pension fund or any other type of retirement savings at 45. I was partially to blame because for many years I never really paid that much attention to retiring. It seemed so far into the future. In my defence though, the economical and political changes taking place did not actually help anyone to hang on to much. What we still have are losing value fast.
All of this of course means little against the cold hard facts. With only 15 years to retirement putting together a retirement fund that would give me a 9000 per month income seems near to impossible. While I calculate in South African Rand the figures works the same in every country. To have a 9000 per month income I have to have a solid investment of 1800 000 at the roughly 6% average interest available now.
The actual mathematics or figures isn’t really the thing to worry about. The problem in all of this is that putting together that kind of money on a fixed income is a real problem. While I sketched the wider picture you get my drift. Saving enough to save up to retire, on my budget is not a reality. On your budget, be honest, do you really have enough disposable income you can put away so you can keep your standard of living the same.
I needed to get extra money. I had to make money to supplement my pension fund. I had to come up with a short term solution that worked and thought about starting a business but let’s face it. If you have no disposable income to save where would the business capital come from?
I started looking at low capital home based businesses. The idea of having work at home jobs available always fascinated me. It’s not only the idea that I can work without having the boss looking over my shoulder that works for me. Somewhere deep inside I will always long to stay in bed all day.
The hard truth however is that working from home is hard work. It’s not easy money. One work from home solution that makes it easier and gives a long term residual income so you don’t have to keep at it forever though is MLM. Multi level marketing is a business idea that presents an inexpensive entry into business. Everything about the business comes to you repacked too. You simply have to join up and start moving the product. It sounds easy enough, and if you select the company you sign up to there will be enough support to show you how.
I have been in different MLM businesses, failed at some and made money at some so I can honestly say that if you need to supplement your pension fund this is a good way to go. Please just choose carefully. If you need advice or would like to know where to find a good work from home business, write to me here on Bukisa or find me on Facebook. On Facebook we don’t need to friend up for you to message me. I will always listen and try to help.