What are you doing to create your millionaire lifestyle? Well, if your goal is not a millionaire lifestyle, what about a million dollar investment portfolio?
Do you know that having $1 million in the bank at age 65 will only generate about $770 per week? Thats right, because thats all youll be able to pull out if you want to ensure that your nest egg lasts for at least 30 years. This doesnt sound much like a millionaire lifestyle does it?
If you are 50 years old and want to have $1 million saved by the time you are 65, you would need to save about $35,000 per year and earn 10% a year too! The storys not that bad if your 40¦about $10,000 a year at 10%. Even if you can save the money, who is earning 10% consistently anymore?
Whats the solution? I believe creating livetime passive business income doing what you love. It can be something that you start now and develop over the next 10 years, or it could be something that you jump into right away full time. I was working as a financial planner back in 2003 when I came up with my perfect passive income model. My dream was to create a community and program where I could help women learn how to create smart life and financial choices with an army of smart women.
Its funny how things evolve when you have a goal and a dream and you keep focusing on it. What happened next for me was that I began to sponsor events through my new company, Smart Womens Coaching. Even though I still ran my financial planning practice full time, I began to focus energy and time on this new venture. I saw that there was a need for it and I began to create a community of support and advisors.
By 2007, I decided to retire and focus 100% of my time on Smart Womens Coaching and two years later, today¦we are launching a new online community called the Smart Womens Cafe. Its a membership site where women can learn, grow and connect and features live coaching, teleseminars, an online library, and an amazing team of Contributing Experts who co promote and create joint ventures.
Its been a lot of work and I have learned so much. I had no idea how different creating a “start up business would be versus my financial planning “franchise with Ameriprise Financial. When I started with Ameriprise Financial (formerly American Express Financial Services, formerly IDS) over 20 years ago, I paid a fee and purchased a franchise. This meant everything I needed to run and market my business had been thought out, systematized and branded. All I needed was an office and a computer.
If you are thinking about starting a business and many women are then be sure to do your homework. There are several things you will want to do if you are starting from scratch. Watch for my future posts, as I share with you my Secrets for Creating Lifetime Passive Income while Following Your Passion.
If your are serious and would like to get started right away identifying your Perfect Business Model and Strategy, then visit the Smart Womens Cafe and pick up The Way to Wealth, by Brian Tracy ($100 value) and your free video training on Twitter by Lou Bortone¦then take a free 30 day test drive and get started right away!
Also, for free live teleclasses this week on creating a Millionaire Lifestyle, visit our Calendar of Events!