Monday, February 1, 2010

Amway - Early Retirement?

One of the humorous things I read is when am IBO says he or she is 19 years old and will be "retired" at the age of 24 because of the Amway business. I erpsonally don't know of anyone who has retired primarily on residual Amway income, as many seem to claim. I am not suggesting that nobody has ever done this, but I suspect that there are so few people who may have done it that it is not noteworthy. Even the Crown Ambassadors appear to not only be working, but have very busy schedules where they are constantly on the run. The poor retention rate of IBOs would suggest that even a sizable Amway business could fall apart rather quickly without a constant replacement of IBOs.

I ask this of IBOs. Is your upline diamond, or someone in between you and the diamond retired because of (primarily) Amway income? Do you as an IBO have a projected date when you will "walk away" from the business and retire? When I was an IBO, I always wondered why nobody "walked away" from their business after they went diamond. I believe the answer is crystal clear. Because IBO turnover is so high, if a diamond were to walk away from the business, he would probably fall out of qualification in less than a year. The bonuses would disappear and the diamond would probably have to look for a job. There are many examples of diamonds who have quit, and in some cases, went back to work.

Many unsuspecting prospects may be lured into the Amway business with the hope of an early retirement. Amway recruiters may mention that control of time and money is the key to success, but ironically, for most who sign up, will end up with less time and money than if they did not join at all. For many people. especially young people, it might be a good idea to seek financial advice from a professional and to make long term investment goals. Am investment of about $200 a month can net you close to a million bucks after 30 to 40 years.

Yes, there may be "some" people who retired early due to (primarily) Amway income. But I don't know any. Do you?


Anonymous said...

LOL – “retired”

My upline Platinum, Ruby, and Emerald all claimed to be “retired”! You know, six Saturdays and a Sunday retired. Well, for being retired from the corporate world, I would agree with them on that, but they never said that. They claimed “retired”, period!

Only problem was that they were out six nights/week, every week, trying to expand their businesses. There is nothing wrong with that – actually, it’s a great work ethic, but I hardly call that being “retired”. My Platinum would state his “day” would start at 2pm and go to about 3-4am the next morning (maybe longer) Monday thru Saturday – mostly STP, working downline groups, and opens/functions/meetings. A LOT of miles on the car. Retailing was never mentioned. Maybe not retailing was why he had to work so hard. That kind of schedule didn’t appeal to me! And it always seemed he was doing “busy work” but never actually accomplishing any growth.

It’s sad, because this was sold to me as 10-15 hrs/week MAX for 2-5 years. Also, my Platinum had to go back to a JOB as his business wasn’t pulling enough revenue to cover expenses!

So IBOs – take a hard look at what your upline’s work schedule is really like. If it appeals to you, then go for it!! If not, then maybe you need to ask yourself is it really worth it to you. It wasn’t to me and I left the biz – stopped throwing money and time away. Addition by subtraction!!

Joecool said...

I was told 8-12 hours a week in your spare time. Just give up the TV and there you have it. I always wondered why we would see our upline diamond out almost every night.

It's an illusion. They don't wake up early to go to work because they work the night shift!

Anonymous said...

I know in Malaysia ah, all people join Amway and become so reach now they drive big cars, some also got lorry and bus and now they also got side business like transport, fix fixing and so many others ler.

Anonymous said...

Imagine if everyone just said yes and replaced their water and energy drinks with amway stuff. That is literally all it takes to bonus. Imagine if everyone just did it. Start up capital is super low in the business which is very good! The biggest things that discourage people from saying yes is other people that are unhappy with themselves and bring others down with them. Just say yes to yourself and future instead of being swayed by fat unhealthy lazy people that want to post negativity all over the internet. YESSSSSS!

Anonymous said...

just say yes to my foot up your kool-aid drinking ASS if you deliver one more typical scambot-talk assault toward anyone still here on planet earth. YESSSSS???

you've been warned now; don't make me come hunt you down. =)

**proud Amway hater**

Unknown said...

Yeah it is true that you will get a bonus from Amway if you buy a certain amount of Amyway stuff! But the bonus you get is very minimal and these products are highly overpriced meaning lots of times you may double or triple of the competing product (even if you buy wholesale price at Amway). So you end up losing a lot of money and all of it goes to the Amway owners and the company as a whole. So the argument that Amway uses i.e. "You are giving away money to Walmart if you buy from them and you don't get anything back, you make someone rich", the same argument applies to Amway. IBOs are making Amway rich and themselves poor.

Joecool said...

Spot on. The Amway owners are the real winners. They charge crazy high prices and IBOs will pay, at least until they wise up and quit. You are better off shopping at WalMart and using a cash back credit card.