So you’re a baby boomer and you want to make money online from home.
In this review I want to reveal to baby boomers how to make money online from home through Online Baby Boomer Wealth. I have over many years tried different ways to make money from my own home. I have always wanted to be my own boss. Haven’t you? Unfortunately this journey has been a difficult one for me and I have tried many different methods.
My first attempt at was about 35 years ago when I joined up with Amway. Since then, I have tried various other MLM companies and, when they didn’t give me the satisfaction I so eagerly searched for, I headed towards online marketing companies.
What A Journey: Looking for Online Baby Boomer Wealth.
My journey was a difficult, and expensive one. I either paid over inflated prices for totally ridiculous products that I never really needed or I was taken for a ride by scammers.
You would think that I would have learned my lesson and given up. But I always knew that there simply had to be some sort of genuine, legitimate on line business out there that was just for me. A business that would satisfy me intellectually and financially. So I kept looking.
Before I go any further in regard to what I have found for myself, I’d like to discuss one of the MLM companies I have been involved with:
How Do I Rate Amway as a home Business Possibility.
Amway was my first foray into Multi Level Marketing. It was also my first attempt at making an income from home. I was young and very naive. I had decided way back then that I wanted to leave my 40 hour a week job and work for myself.
So I joined Amway, got my wife to join Amway and then most of my family. That’s when the problems started. I needed to recruit more people because, as a member, you really needed to by their products to survive. These products were expensive.
Is Washing Powder The Answer.
Amway was well-known for its washing powder. It was the best on the market, or so we were told. But it cost about four times that of its super market equivalent. I was young, I had a young wife and a small child, I simply couldn’t afford there washing powder, or for that matter any of there other products unless I was able to join more people.
The only way to join other people and take advantage of there lucrative income producing scheme, again at least that’s what they called it, was to physically go out and meet more people. That’s right, door to door, or ask workmates. Online marketing hadn’t been invented yet.
As you can imagine the thought of going door to door made me feel physically sick. I soon discovered I was no salesman. I hated asking others. Therefore, my business soon flopped.
I do know that other members found financial success, but they were great door to door salespeople. Not like me.
Picture courtesy of Amway.
Exactly How Does Amway Work: Is it suitable for baby boomers?
1. They Buy there merchandise Direct from the Manufactures
2. All Goods have a mark up added to cover employee salaries and other costs.
3. The distributors commission is then added.
4. The “Upline” commission is then added.
5. Their own profit Margin is also added.
6. The product is sold by the distributor to a new customer that most likely will become a distributor.
Once they have added all these extra costs you can just imagine how expensive the product will become. Compare this with the cost a shop or super market will have.
How Does a Shop Cost there Products?
1). They purchase from the manufacturer.
2). They add on there selling and employee costs.
3). They add a profit margin.
4). They sell to you.
Do You See The Difference? Is This The Way To Create online Baby Boomer Wealth?
Okay. So maybe you’re happy to be a part of this. Selling products at inflated prices to other potential distributors. But I know I wasn’t. It left me feeling sick.
And That’s Just The Selling Part.
So if you decide that the price of their products isn’t a deterrent , then you have to be able to understand and navigate the system. Up line, Down line and so on.
If you will bear with me I will try to explain the system to you. It’s not easy so if I don’t get it 100% accurate please understand.
AMWAY IBO COMPENSATION PLAN
IBO stands for Independent Business owner.
Amway has several levels of income structure that depend on how you operate your business and how many distributors join up under you.
1). Immediate Income. Amway defines this as being.
“Your immediate income is the difference between the cost at which you purchase product inventory from Amway, or you’re sponsoring IBO, and the price at which you sell the product to your own customers. This income is realized immediately upon each sale to your customer……”
2). Performance Bonus.
They provide you with a table to help explain the performance bonuses that are available.
Additional Performance Bonus
North American Rebate Scale
|Rebate (% of BV)|
PV = Personal Volume BV = Business Volume
You’re talking to a baby boomer,So explain this again?
I don’t know about you, but I found that very confusing. Most Importantly, I don’t have an issue with the Immediate compensation plan. It’s simple really, you buy from them or your sponsor, add your profit and ‘Hey Presto’, you start making a living…. Except..
Because the product you’re buying is already more expensive then the store bought item, by the time you add your profit it reaches a ridiculous price.
A Further Compensation Plan:
Some of you may follow the additional compensation plan, others will have given up at this stage, but I dare any of you to try to explain the next levels of there compensation plans.
Besides that, the performance bonuses are further enhanced depending on how many people you register as distributors and how many customers you sell to. Then it increases as each person you register does exactly the same thing with their customers.
Silver, Gold or Platinum:
You can then reach levels of Silver, Gold or Platinum. With Platinum being the ultimate level.
I could explain this further, but I think you’ve seen and heard enough. Personally I find the stress from simply trying to understand their plan far too much to handle.
How Do I Rate Amway:
1). Is Amway a Scam? NO.
2). Is Amway a profitable way to make a living? NO.
3). Is Amway easy to follow? NO.
4). Would I recommend people to join Amway? NO
5). What Rating Do I Give Amway.. 5/10.
The Amway Business reference guide states at the bottom of the last page that “the average annual income for an active IBO was $207 in 2016”. Therefore, I think those figures alone give you enough information on why you should avoid them if you’re looking for a way to make money from home.
Do you Wish to Create Online Baby Boomer Wealth?
Well, because I’ve told you what area I wouldn’t enter into if I was someone just starting out in the home business game. It’s only fair I tell you what I have found after many years of searching.
I have built this website to not only let you know about the many home business’s available to you but, most importantly, to educate you on how to make money online from home.
Is Amway an Internet Business?
I realize that Amway is hardly an internet business, although with the technology around today its most likely headed in that direction. Nor is a fantastic way for baby boomers to create an online income. But the whole idea was to reveal just how difficult it would be to make an honest living from this company.
In future blogs I will be discussing other MLM and internet business’s that are available to you. Are they scams? Can you make a living from them? How much can you make? How do I rate them?
But for now I just want to give you a quick introduction to the business that I found some time back. An internet business that I have full control over. It’s totally mine. It’s a business that provides you with.
1. 2 free websites.
2. Heaps of free training.
3. A social platform that is unparalleled by any other and is a LEGITIMATE, PROFIT MAKING, business.
WHAT IS WEALTHY AFFILIATE:
Most Importantly, Wealthy Affiliate is an affiliate marketing training business and community. It is a genuine business therefore it is an ideal way for retirees to create online wealth, because they can learn how to break into affiliate marketing.
You are provided with a University level training platform that is further enhanced by its many professional blogging members, who provide added training.
Do You Want Two Free Sites?
Wealthy Affiliate provides you with either 2 free websites for you to commence building an internet Niche or you can become a premium member for $49.99 a month. You have the choice to pay a yearly fee of $359, which is a huge savings.
However, because you are never coerced into going premium and you can stay with the 2 Free sites if you wish.
There is so much more to Wealthy Affiliate , therefore I have completed a separate review on them.
Why not take a look and maybe you to can create an online baby boomer wealth website.
==>If you would like to see my Wealthy Affiliate Review click here<==
What do you have to lose?
If you choose the 2 Free Sites, absolutely nothing. Why not give it a try. Jim