I've included a link to a recent article stating that approximately one-quarter of Americans are still working past the age of 65. That surely dispels the IBO myth that 98 percent of people are dead or broke by the time they reach the age of sixty-five. It should be highlighted that the older people who are still employed make really decent wages. Even more food for thought should be given to how you, as an Independent Business Owner, will benefit from the Amway business if you are not making money or if you are losing money due to the constant purchasing of "educational" materials.
http://www.usnews.com/money/blogs/planning-to-retire/2009/7/14/a-quarter-of-americans-still-work-after-age-65.html
One-quarter of Americans continue to work when they reach the age of 65.
Emily Brandon contributes a comment.
Originally published on July 14, 2009
For one-quarter of all Americans over the age of 65, retirement is a thing of the past. As of 2008, a little more than a quarter of persons between the ages of 65 and 74 were still employed, according to the most recent Census Bureau data. Even more astounding is the fact that 9 percent of Americans continue to work between the ages of 75 and 84. After the age of 85, the number of people who are still working drops to 3 percent, or approximately 122,000 people, who continue to pound away at their keyboards or punch their time clocks in and out.
The majority of those over the age of 65 who are still working are professionals (20 percent) or in managerial roles (19 percent). In addition to working in the service industry (18 percent) and sales (15 percent), a considerable number of seniors also work in the office (12 percent). However, a few retirees are able to work in industries that are occasionally physically demanding, such as manufacturing and transportation (12 percent) or construction and maintenance (5 percent).
Many of the seniors who continue to work full-time earn at the top of the salary scale, which is not uncommon. Approximately 20 percent of individuals aged 65 and over earn more than $75,000 per year, and slightly more than half (53 percent) earn between $25,000 and $75,000 per year from their jobs. A little more than a quarter of people who work full time in retirement earn less than $25,000 per year on average.
This appears to be a fallacy fostered by the AMO's leadership. Perhaps the goal is to terrify people into believing they should look into Amway as a possible solution.
Some Amway Independent Business Owners are of the opinion that the conventional route of holding down a job from 9 to 5 and then retiring at 65 is a surefire way to end up in financial ruin. They contend that if they adhere to the Amway business plan and establish a prosperous network of downline distributors, they would be able to achieve monetary independence and retire early while maintaining a decent standard of living.
The fact of the matter is, however, that this belief is nothing more than a fantasy, and there is no evidence to back the claim that following the conventional route will lead to monetary collapse. In point of fact, many individuals who have pursued this course of action have attained not only financial security but even wealth.
It is not necessary to achieve monetary success through a particular business model, such as Amway, but rather through astute financial planning and administration. This includes setting aside money for savings and investing it intelligently, staying within your financial means, and making plans for the long term.
One of the most common and serious errors that Amway Independent firm Owners make is the mistaken belief that the only way to achieve financial success is through the operation of their own firm. It's possible that they devote all of their resources, including time, money, and effort, to building their Amway business, while ignoring other opportunities to amass wealth.
In the hope that doing so will improve their chances of being successful, several Amway Independent Business Owners make the error of investing excessive amounts of money on products and training materials. However, this can put them under a lot of stress financially and cause them to rack up debt, all of which can make it more difficult for them to create a successful Amway business.
In addition, there is a possibility that some Amway Independent Business Owners will fall for the promise of "easy money" and rapid success. They could think that all it takes to develop a successful Amway business is a little bit of time and effort, and that they can quickly get to a point where they are financially independent. But this is not the case, and if you want to establish a great Amway business, you will need to put in a lot of hard work, devotion, and persistence.
In conclusion, the belief that going the conventional route will inevitably result in financial catastrophe is not supported by any evidence. Building a successful business with Amway may be a possibility for some individuals, but this is not the only approach to improve one's financial situation. Planning and management of one's finances wisely, together with consistent effort and commitment, are essential components in the recipe for obtaining financial independence and stability.
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