Sadly, the statistics remain the same after some 40 plus years. In one of Earl Nightingale’s video recordings he discusses why some people achieve financial wealth while others just trod along. In his telling of the story he mentions how 95% of the population will retire poor and broke? That video was done I don’t know how many decades ago! And alarmingly, the statistics remain the same? Why?
Before going into this any further here are the stats of 100 typical Americans at age 65.
1% Retire wealthy
4% Retire financially independent
5% Still working
54% Broke & dependent on others
*Source: “Copycat Marketing 101″ by Burke Hedges
How does this happen? What did the 5% know or do that the other 95% did not. Unfortunately, this will be repeated until the end of time for a very good reason. The rest of the population is comfortable in what they are doing and do not want to venture outside their comfort zone. Some are not confident enough to pursue change. Some do not know of about other options available to them. Some, don’t care. Some people have preconceived ideas and notions about how to achieve wealth.
The reasons are so many that it would be nearly impossible for me to think of them and even write them all down if I knew! But some are evident and can be addressed. We’ll take a look at them now.
Network marketing opportunities are generally viewed as pyramid schemes or scams. The news media, friends, and family have conditioned most of their circle of friends and family to believe this based on their own ignorance and lack of knowledge on the subject matter. This indoctrinates people into a false belief that all network marketing businesses are some kind of pyramid scheme or are illegal. Unfortunately this couldn’t be further from the truth.
Of course, there are scam that arise. This is of course carried out by the criminal mind who uses a legitimate business plan to obscure the real intention, which is to deceive and steal. Also, Ponzi schemes are visible in the media. Does Maddoff sound familiar? How about Carlos Pinho? Both carried out sophisticated Ponzi schemes. Both are in jail where they deserve to be.
Then we have the recent rash of scams carried out by corporate giants like ENRON and Adelphia! This undermines the public’s faith in our corporations and the people with whom are entrusted to honestly run these giant companies.
Then we have the massive lay offs in recent years. This also undermines the public’s trust and eliminates the long held belief of job security. There is none! People nowadays are just happy to have a job. And their bosses know this which results in a little abuse in the form of asking employees to do more to help out. In essence it boils down to manipulating employees to work more and do more so they don’t risk losing their jobs. The stress is the employee and the boss knows how to leverage this to his benefit.
But, people just go along with this and pray that they do not lose their jobs. The fear sets in and the thought of not paying the mortgage keeps them in the daily grind.
Even with opportunities being presented to them, and a lifesaver being thrown to them, 95% refuse to accept it! Thus the results from the aforementioned statistics. With so many people unwilling to take control of their financial future, they are leaving themselves vulnerable to very long years of co-dependence and maybe worse. Possibly working until they die!
It’s one thing to work at a late age because you want to and it’s another thing because you’ll starve to death if you don’t!
Grab on to a lifesaver when someone offers one to you. You’re life will better. Learn about what direct selling is and isn’t. Learn about which network marketing opportunities appeal to your passions. Then decide to go into business for yourself and begin the process of going into the 5% of Americans who will retire financially secure.
More to come. Stay tuned!