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A lot of people look forward to retirement with fear and uncertainty. One of the major questions that they often avoid asking is, “How much will I need to retire?” They are afraid that the answer will be hopelessly large. Actually, it can be smaller than you think and well within reach.

Your modern life is powered by income streams. Usually, the biggest one for people is the income from their job. A retirement savings account such as a 401(k) is designed to replace that income stream once you retire. That’s the conventional wisdom and it’s a recipe for disaster.

Many financial planners use a percentage of your working expenses as the basis for the level of income that you will need when you retire. That may be true in the past but in order to make that true today, you would have to lead a pretty sedate life.

Most people put off traveling, hobbies and spending time with the grandkids until they retire. Those activities require money. Actually, to fulfill the dreams that people have been putting off, they need more money than when they were working. Otherwise, retirement will be like an endless staycation.

The modern requirements for retirement also include rising health care costs. Just one serious medical incident can set you back over $100,000. By depending upon a retirement savings account, you set up a race to see which one runs out first, your money or your life.

What would be a better solution? A more permanent solution would be to replace your job stream of income with another stream of income. In order to keep from working the rest of your life, this needs to be a residual income stream.

One of the best ways to create this stream is to start a home based network marketing business. Not only do you get immediate tax benefits and income, you are building your income stream for the future. By having it under your control, you can increase it should your needs or wants warrant more money.

Running your own business also allows you to remain socially active and to form new friends all over. Your travel expenses can become business expenses. By involving family, it gives everyone a reason to stay more in touch with each other.

By creating this income stream, retirement becomes purely a function of finance rather than age. Once your business income exceeds your expenses, you can retire whether you’re 65, 45 or even 25.

As an added bonus, many network marketing businesses become a willable asset that allows you to provide income for your heirs or favorite charity long after you are gone.

This residual income stream simplifies retirement and makes it less scary. It gives you a credible way to retire with security even if you haven’t saved a dime! You can find out more by clicking on the link below.

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Source by Rick Rule