At 48 years old, I was headed toward bankruptcy.
I had no clue how I’d be able to retire, and thought that I’d work until I drew my last breath.
That’s when – if luck would have it – I discovered something that changed everything for me.
They say that for the average person to comfortably retire, they’ll need to have about $4 million dollars saved and invested… but that’s not necessarily true.
If you haven’t saved enough to retire and are wondering what to do, watch the video below.
Let’s talk about one simple way to take control of your retirement, and plan to live comfortably when you do.
My husband and I had worked hard, and tried our best to make our businesses successful. We had saved up money and invested when we could, but unfortunate circumstances had us staring at bankruptcy.
I quickly realized that if I didn’t do something dramatically different than I’d done in the past, I’d end up working until I drew my last breath.
But that’s when I discovered something incredible.
You see, it’s not so much about how much money you save up, but the kind of financial leverage you can create for yourself.
There are two ways you can create financial leverage. You can leverage your money by investing it, and hope for a greater return, or you can leverage your time by having other people working with you.
That doesn’t necessarily mean having employees, but rather being in a position where you benefit from others who are working for themselves.
A great example of this is real estate. Imagine that you’re a realtor who owns a brokerage. Inside that brokerage, you have realtors who are selling houses.
They are not employees, and their income is based on how many houses they sell. However, because they’re working inside of your brokerage, you get a percentage of the profits.
Another form of financial leverage is residual income. I have a friend who’s a great example of this. She’s been in the coaching industry for years, but wanted to create residual income in addition to her coaching. This allowed her to make more money for her time, and have an extra income stream in case she needed it.
She found a company who offered products and services that her clients really enjoyed, and joined a network marketing company to sell those offers in addition to her coaching. For every sale she made, she earned a percentage of the profits.
Over the next few weeks, we’ll go into more depth about the different types of leveraged and residual income, and how you can create these income streams for yourself.
By learning how to leverage my time and money, I was able to not only save for retirement, but make sure that I had consistent income streams coming in whenever I needed them.
I can’t wait to help you do the same thing!
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