A scary reality for even the middle class
“There were over 1.6 million bankruptcy filings last year, up 7.4 percent from the previous year. And according to a new book, more people will end up in bankruptcy this year than will suffer a heart attack, than will be diagnosed with cancer or graduate from college, and it’s not who you would think. Elizabeth Warren is a Harvard law professor and bankruptcy expert and discusses these findings in her new book “The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke.” She discusses the book on “Today.” ” This is an excerpt from this news story on MSNBC
That means you have a better chance of going bankrupt than:
- getting cancer
- having a heart attack
- graduating from college.
And that is if you are both working and in the middle class! That means most Americans finances are built like a house of cards.
It is trends like this that should really wake you up. We are approaching the largest number of people that will reach retirement age in America in the next 10-15 years, and a large number of them are going broke. It is a well known fact that 98% of people will be dead or broke by the time they reach retirement age. If these people don’t hurry up and do something they will soon run into that reality. Some people are so engrossed in just trying to survive financially right now, it is hard for them to think of the future. Sadly most people truly are one paycheck away from disaster. If they or their partner were to get injured or sick and their paychecks stopped coming in, they would be devastated. It is the number one cause of bankruptcy. Unexpected illness, injury or the death of a loved one.We have a whole culture of people in this country who traded financial freedom for what they thought was security. They thought getting s steady job would bring them financial security. They are now learning that that image of security by having a job was a big lie. It has been written about again and again, the only true way to achieve financial success is to own your own business, or own real estate. Unfortunately, while it is that simple, it is not that easy. There are many risks inherent with starting a new business, let alone finding the time to have to work on it. There are plenty of people selling books and seminars on how to buy real estate with no money down, or how you can make money finding real estate investment property online. Sometimes I think those are the people making the most money in those industries - the ones training others to do it. Their success stories are few and far between. Some even blame them for the real estate bubbles people have been reporting on in the last year. People can only refinance out their home so much. It is one of the reasons we see the mortgage industry run out of steam.
It is that kind of reality that drove me to find a business that I could develop into a residual income. One that I worked hard and invested in for a year, then whether I could work it or not - my income would keep coming in. I don’t even want to do the math to figure out how much I would have to save and then put into investment opportunities to try to be able to generate the same amount of income. Lets just say I would have to have over a half a million dollars in investments to generate the same level of income that I have from a business that cost me a few thousand dollars to start. For most people, who are barely getting by on their present paycheck - so save up 1/2 million dollars is impossible. They have trouble saving little, if at all.
People know this. That is why we see thousands more come online every month and look for online investment opportunities, and ways to make money. The problem is, many of the ways to make money online they are offered are not very different than what they already have. Taking surveys, traffic exchanges, and many of the online businesses you find are still just offering to trade your time for money. Same trap - different setting. Building your assets - and the assets I am talking about here are not assets like your house and your car that cost you money and you don’t profit on every month, but assets that you invest in, that end up paying you back more than you put into them. That is truly the only way to leverage your money and time to get you ahead.
Otherwise you are just trading time for money and you only have so much time to trade!
That is one of the things that motivated me to join with a network of people and form the Entreprenuers Network and that ended up producing the Investment Opportunity Report
I wanted to produce a resource people could use online that shared with them proven ways they could use to get themself out of the trap many of them were in. It is also the reason I still was checking out MLM / Network Marketing businesses. MLM / Network Marketing has produced more millionaires than any other business system. Period. That is why they teach it in the top business schools. They know, for the average business owner / investor, there is no other business system that can offer so much leverage. That is the ideal anyways. So many MLM / Network Marketing companies have shown time and time again, the problems and challenges to building a business that way. That is until I found Automatic Builder / Nutronix. Finally a MLM / Network Marketing business that had developed ways to overcome all the challenges for the average and small time investor. Really, any system that will ACTUALLY work with both paid and free advertising is a proven one. Too bad it is a rarity in MLM / Network marketing businesses. Yes, it still takes work and investment, but it is exactly the vehicle that people can use to drive themselves out of the trap their in.
Starting and growing my Automatic Builder / Nutronix business into a successful online business was exciting in itself. Being able to share that success by teaching and helping others achieve the same thing and help themselves out of a sinking financial boat is the ultimate reward. If you follow me down that path, I know you will see what I mean.
Matthew Yonan
