Retirement - How To Retire With Security

With today's environment of high unemployment, retirement accounts losing their value and rising healthcare costs, how can you feel secure about when to retire? Will economic conditions force you back into looking for a job just to pay for the basics? What can you do about it?

Figuring out if and when to retire is a major decision in anyone's life. Some make that decision on their own. Some have that decision thrust upon them such as in a layoff or merger.

While traditionally, retirement was age based, usually age 65, it's actually a function of finances. How are you going to replace the stream of income that you received from your job? How long are you going to need that income? What are your expected health care costs going to be?

In the past, companies would have Defined Benefit Plans such as pensions that would pay a certain amount for the rest of your life. This type of plan is very expensive for companies and unions to fund.

Since the 1970's, companies have been switching to Defined Contribution Plans for their retirement plans such as 401(k) accounts. This switched the burden of providing for retirement to the employee.

The biggest argument against retirement accounts is that it really sets up a race to see what runs out first, your money or your life. With today's advances in medical care and treatment, a lot of people can expect to outlive their savings.

If retirement accounts are not the solution, what is? The solution must come in the form of a residual income stream. There are two types income - linear and residual. Linear income is where you trade one unit of work such as an hour, a dental filling or a tax preparation for one unit of pay. If you stop working, the income stops as well. Residual income is the type of income that you do the work once and the income keeps coming in with little or no effort of your own. Some examples are the interest received on a savings account, the royalties an author receives from the sales of his or her book and an oil well.

What happens if you don't have enough money to live off the interest, can't write a best seller or don't have an oil well? For the average person, building a home based network marketing business is the best way. You can build the business to where it starts growing without your direct effort and will continue as long as you stay qualified to receive commissions.

There are two other major advantages of a good network marketing business. One is the tax benefits you will receive in addition to the income. The second major advantage is that you can create a willable asset that can continue to bring in income for your heirs.

A home based network marketing business could be the solution to funding your retirement. To find out more information, click on the link below.

If you would like to know more about the benefits of a home based network marketing business, go to http://StartLateFinishWealthy.com and sign up for a free mini course. Rick Rule will show you the benefits of network marketing as well as outline a plan where you can retire wealthy at any age.