Catch Up on Retirement Savings: Can You Do It?

An older woman walking and a younger man running, symbolic of different stages of life in which a person may find himself or herself facing retirement. Can you catch up on retirement savings?The buying power of the U.S. dollar isn’t what it used to be. A few entries on an inflation calculator will prove that. Plus, there are numerous things that can wipe out a person’s or family’s entire life savings. So, can you catch up on retirement savings?

An article in The New York Times entitled “How to Win at Retirement Savings” addresses compound interest and starting to save and invest at a young age in well-chosen investment vehicles. While that advice may be good for some, what if you’re facing retirement and you can’t go back and re-do the past? Is there any hope for you?

Of course, there is. But you won’t find it in that article.

The common philosophy is that you go to school to get an education, go to work for someone else, work for 40 years or so, and then retire on what you’ve saved up. There’s nothing wrong with that, but with so many people living paycheck to paycheck, how are you supposed to save any money, let alone save up enough to invest for retirement?

The marketplace has changed a lot over the last few decades. Many employers no longer reward workers for their loyalty and hard work. Plus a lot of jobs have become specialized in a way that an older population may not be willing to receive training to do.

But the older population has some things going for it that a younger generation has yet to acquire: a long lifetime of experience, many friends made “the old fashioned way”, and a sense of hard work that may have been done when times were much tougher (such as during the Depression).

The secret to being able to catch up on retirement savings is using leverage.

You’re familiar with leverage every time you use the claw end of a hammer, a pair of scissors, or a wheelbarrow. A small effort is expended on one end to make a big difference on the other. Whether you’re prying up a nail or cutting a piece of paper or moving a load of dirt, you’re exerting a small effort on one end of the device to make a big difference on the other.

How do you do that in business? You join a reputable and stable network marketing company that produces products or provides services that you love; you share those products or services with others who see the value and want to buy them, too; and those folks whom you introduced to the products or services buy them through you over and over again.

Among the people whom you introduced to those products or services will be some who also want to share the products and services with others. They become “business builders”. You share with your business builders how to share the products and services with others. You start and grow your network, being rewarded according to your network marketing company’s compensation plan.

[scis id=”4″ align=”left”]In our case, we love and share products from Young Living Essential Oils. It is very possible that with dedicated hard work, you can earn as much in 4 years as you could in 40 years.

Think it can’t be done? The book shown here says that it can!

Imagine how marvelous it would be to have a growing residual income throughout your retirement years!

Is it worth your time to consider joining Young Living for the purpose of earning money? Check out their Income Disclosure Statement.

Find out if you could see yourself sharing Young Living’s products by requesting a free sample for just our cost to send it to you.

If you’re ready to catch up on retirement savings, learn how to become an Independent Distributor or contact us.