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  #73  
Old 05-05-2012, 04:06 PM
successmindstate successmindstate is offline
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Re: MLM or college degree...?

Its kind of vicious in here. I don't recommend that anybody not get a job but I would say do both. Start your own business and work your job. Everybody has a desire to become wealthy and we can agree that unless you plan on getting into the rare 2% with your corporation you will not achieve financial freedom at your job. So why not do both? Yes its a lot of work but gives you the chance to tap into the way that many of the elite society makes their money. They make money through leverage, and residual income. The leverage is the biggest part. Make 100% of 1, yourself or 1% off of 100. You can keep making the 100% off of you and start building a team so you can have leverage on the side.
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  #74  
Old 05-05-2012, 04:09 PM
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ChrisDoyle ChrisDoyle is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by successmindstate View Post
Its kind of vicious in here. I don't recommend that anybody not get a job but I would say do both. Start your own business and work your job. Everybody has a desire to become wealthy and we can agree that unless you plan on getting into the rare 2% with your corporation you will not achieve financial freedom at your job. So why not do both? Yes its a lot of work but gives you the chance to tap into the way that many of the elite society makes their money. They make money through leverage, and residual income. The leverage is the biggest part. Make 100% of 1, yourself or 1% off of 100. You can keep making the 100% off of you and start building a team so you can have leverage on the side.
Sound advice and its the biggest advantage of MLM over many other businesses in that you can build it alongside a job, in your own spare time.
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The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

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  #75  
Old 05-05-2012, 08:58 PM
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BoxAlarm126 BoxAlarm126 is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by successmindstate View Post
Its kind of vicious in here. I don't recommend that anybody not get a job but I would say do both. Start your own business and work your job. Everybody has a desire to become wealthy and we can agree that unless you plan on getting into the rare 2% with your corporation you will not achieve financial freedom at your job. So why not do both? Yes its a lot of work but gives you the chance to tap into the way that many of the elite society makes their money. They make money through leverage, and residual income. The leverage is the biggest part. Make 100% of 1, yourself or 1% off of 100. You can keep making the 100% off of you and start building a team so you can have leverage on the side.
Yes, MLM advertises itself as being a way to start a franchise, generate residual income that outpaces your expenses, and everything else found in Rich Dad Poor Dad. But there's two problems:

First, Less than 0.5% that ever try MLM will achieve this financial freedom.

Second, the franchise is not owned by you. It is owned by the company. Anything can happen to it - it's too risky. Sure, you can incorporate your profits from the distributorship, but you cannot incorporate the actual business that generates this income.

If you gain education for an open career field, you'll enjoy a high salary, excellent benefits including medical (which MLM lacks), and either a 401k w/ match or a pension. If you have educated yourself in personal finance, you can use defined contribution and defined benefit plans to generate sufficient residual income in retirement to be "financially free." You don't need to have a $250k/yr salary to do this, either.

For example, if you contribue pre-tax funds with an employer match to equal $10,000/yr (probably a real reduction of income of $7k/yr or so), and earn a resonable annualized rate of return of 8%/yr over 40 years, you'll have $2,781,718.16. @ 5%/yr, this is an income of $139,085, plus the $2.78 mil. principal. This is not an unrealistic scenario, unlike MLM, where 0.5% can be financially free.

I can see some benefit to MLM as far as a modest side income, but certainly not enjoying a six figure passive income for the rest of your life.
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  #76  
Old 05-05-2012, 10:04 PM
Skeptical_MLM'er Skeptical_MLM'er is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by BoxAlarm126 View Post
Yes, MLM advertises itself as being a way to start a franchise, generate residual income that outpaces your expenses, and everything else found in Rich Dad Poor Dad. But there's two problems:

First, Less than 0.5% that ever try MLM will achieve this financial freedom.

Second, the franchise is not owned by you. It is owned by the company. Anything can happen to it - it's too risky. Sure, you can incorporate your profits from the distributorship, but you cannot incorporate the actual business that generates this income.

If you gain education for an open career field, you'll enjoy a high salary, excellent benefits including medical (which MLM lacks), and either a 401k w/ match or a pension. If you have educated yourself in personal finance, you can use defined contribution and defined benefit plans to generate sufficient residual income in retirement to be "financially free." You don't need to have a $250k/yr salary to do this, either.

For example, if you contribue pre-tax funds with an employer match to equal $10,000/yr (probably a real reduction of income of $7k/yr or so), and earn a resonable annualized rate of return of 8%/yr over 40 years, you'll have $2,781,718.16. @ 5%/yr, this is an income of $139,085, plus the $2.78 mil. principal. This is not an unrealistic scenario, unlike MLM, where 0.5% can be financially free.

I can see some benefit to MLM as far as a modest side income, but certainly not enjoying a six figure passive income for the rest of your life.
How utterly patronizing...
So you have a solution for just certain industry/fields....but to the millions of other hard working Americans who failed to attain degrees in these areas of expertise, or are too old or in too much debt to go to college or don't have the mental aptitude for these fields......your response would be what......too bad? Suffer? Not my problem?

MLM offers an option

You kick them in the teeth

So who really is the prick?

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  #77  
Old 05-06-2012, 01:38 AM
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Joecool44 Joecool44 is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by Skeptical_MLM'er View Post
MLM offers an option

You kick them in the teeth

So who really is the prick?
MLM offers an option similar to winning a lottery. How is that a reasonable way to earn a living?

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  #78  
Old 05-06-2012, 07:12 AM
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Doc Bunkum Doc Bunkum is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by Skeptical_MLM'er View Post
MLM offers an option

You kick them in the teeth

So who really is the prick?
You know, Skep, you're lucky a certain individual still isn't a moderator around here. He hates "cowardly internet trolls". As he puts it...

Quote:
And you are a perfect example of why internet trolls cowardly hide behind anonymous screen names. That way you can post blatantly fraudulent and libelous comments without having to be accountable for anything you say.
True, you haven't said anything libelous.

But you continue to post a lot of bulls-h-i-t comments.

Why don't you post a link to your Scamway site so we can learn a little more about you?

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  #79  
Old 05-06-2012, 07:37 AM
Skeptical_MLM'er Skeptical_MLM'er is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by Doc Bunkum View Post
You know, Skep, you're lucky a certain individual still isn't a moderator around here. He hates "cowardly internet trolls". As he puts it...



True, you haven't said anything libelous.

But you continue to post a lot of bulls-h-i-t comments.

Why don't you post a link to your Scamway site so we can learn a little more about you?
Attacking the poster rather than the data....?

Ad hominem at it's finest....

Shameful

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  #80  
Old 05-06-2012, 08:00 AM
Doc Bunkum's Avatar
Doc Bunkum Doc Bunkum is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by Skeptical_MLM'er View Post
Attacking the poster rather than the data....?

Ad hominem at it's finest....

Shameful
Shameful indeed.

One reason he's no longer a moderator around here.

But his legend lives on.

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  #81  
Old 05-06-2012, 10:52 AM
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ohein56 ohein56 is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by Doc Bunkum View Post
Shameful indeed.

One reason he's no longer a moderator around here.

But his legend lives on.
Speaking of moderator 'legends' whatever happened to SBM? I thought realscum was your scum-pond of choice?!

Did you two have a little falling out?

What gives? I thought you two were done with this forum?

Why the backsliding, Doc?
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  #82  
Old 05-06-2012, 10:54 AM
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ohein56 ohein56 is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by Joecool44 View Post
MLM offers an option similar to winning a lottery. How is that a reasonable way to earn a living?
How are they similar?
__________________
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Armed neutrality makes it much easier to detect hypocrisy.
― Criss Jami
BEWARE:Joecool44, aka 'joecool', anti-MLM fanatic, Trolls here anonymously!!
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  #83  
Old 05-06-2012, 02:58 PM
Skeptical_MLM'er Skeptical_MLM'er is offline
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Re: MLM or college degree...?

More scary news from the world of college

http://articles.latimes.com/2012/mar...ncies-20120306

W. Norton Grubb, a professor at UC Berkeley's School of Education, is worried that rising debt levels are forcing some students to drop out. Only 40% to 50% of those enrolling at universities such as the California State University schools end up completing their degrees, he said.

Wow, less than half..

Skyrocketing debts may be pushing some graduates into areas of work that have a bigger immediate payoff, such as finance, as opposed to what they want to do or what may produce more benefits for them and society in the long run.

Great...

Indeed, the New York Fed put the latest outstanding student loan balance at $870 billion. That's more than the total credit card debt, $693 billion, and car loan debt, $730 billion.

Scary


Bernanke, in his exchange with lawmakers, added a personal dimension to the student loan issue, saying that his son in medical school expects to owe $400,000 when he graduates.

Yikes..



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  #84  
Old 05-06-2012, 03:29 PM
Skeptical_MLM'er Skeptical_MLM'er is offline
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Re: MLM or college degree...?

Double yikes

http://knowledgebase.findlaw.com/kb/...pr/606257.html


Many parents are considering bankruptcy as an option to deal with their situations. A survey conducted by the National Association of Consumer Bankruptcy Attorneys revealed that 81 percent of bankruptcy attorneys surveyed had seen an increase in the number of debtors — including parents — seeking bankruptcy protection because of student loan debt. The NACBA’s report accompanying the survey results called student loan debt the country’s “next debt bomb.”

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  #85  
Old 05-06-2012, 03:58 PM
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James R James R is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by ohein56 View Post
How are they similar?
It's sort of like your campaign into MLM.

12 up, 12 down. (as far as I know...it could easily be more).

You played the MLM lottery a dozen times.....and now find yourself punching the clock at 8 A.M just like everyone else who were''t foolish enough to get into MLM in the first place.

Welcome to the club!
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  #86  
Old 05-06-2012, 04:51 PM
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Joecool44 Joecool44 is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by ohein56 View Post
How are they similar?
For every winner, there's a trail of losers. You can count on it.

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  #87  
Old 05-06-2012, 06:22 PM
ohein56's Avatar
ohein56 ohein56 is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by Joecool44 View Post
For every winner, there's a trail of losers. You can count on it.
You can say the same thing about LOTS of endeavors/business vehicles, LOTS.

So what?
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Armed neutrality makes it much easier to detect hypocrisy.
― Criss Jami
BEWARE:Joecool44, aka 'joecool', anti-MLM fanatic, Trolls here anonymously!!
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  #88  
Old 05-06-2012, 06:56 PM
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Joecool44 Joecool44 is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by ohein56 View Post
You can say the same thing about LOTS of endeavors/business vehicles, LOTS.

So what?
But we're talking about MLM on this forum. In a venture where failure is more common than success, you'd be wise to do something else.

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  #89  
Old 05-07-2012, 12:21 AM
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thetruthbetold thetruthbetold is offline
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Re: MLM or college degree...?

I think the most reasonable way to compare the two options would be:

1) Compare the average income on an Amway rep with a non-Amway person with a college degree.

2) Compare the average net worth of an Amway rep with a non-Amway person with a college degree.

Peddling the same sort of stuff you can buy at Walmart has made Amway successful but it doesn't tend to make their drones who peddle the stuff successful.

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  #90  
Old 05-07-2012, 05:04 AM
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ChrisDoyle ChrisDoyle is offline
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Re: MLM or college degree...?

Quote:
Originally Posted by thetruthbetold View Post
I think the most reasonable way to compare the two options would be:

1) Compare the average income on an Amway rep with a non-Amway person with a college degree.

2) Compare the average net worth of an Amway rep with a non-Amway person with a college degree.

Peddling the same sort of stuff you can buy at Walmart has made Amway successful but it doesn't tend to make their drones who peddle the stuff successful.

It does tend to make the ones who learn the skills and apply them consistently successful though.
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.


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