Wednesday, October 1, 2014

Retiring On Amway Residual Income?

I have heard or read that Amway has something like 3 million IBOs worldwide and several hundreds of thousands of IBOs in the US and Canada. Over 50 plus years, Amway must have had tens of millions of IBOs. One of the selling points that many people use in promoting Amway is how you can build your business once (and right) and walk away from the business and collect residual income forever, willable to your future generations and recession proof. At least that's how it was presented, and still apparently presented these days. And that is the draw for many. That you do the work and do it right, and reap the rewards forever.

What I find extremely odd is how these Amway retirees seem to vanish off the face of the earth. I mean the diamonds either quit, resign, or continue to work. Even all the crown ambassasdors are still working or died while still working the functions. Seems odd that someone can have the option of walking away from their Amway business while boatloads of cash keep rolling in. Freedom to golf, travel, have fun and do anything you want, whenever you feel like it. But why do diamonds quit or resign? Why don't any of the big pins exercise the option to walk away? Various defenders of Amway claim there are many people who have excerised this option but nobody has been able to name even one of them, let alone a few of them. Keep in mind that the folks making this claim are likely lying or making it up because only Amway would know who is getting paid, although Amway wouldn't know what kind of effort was made to maintain the business. In other words, claims of people building an Amway business and then collecting significant residual income is a claim that cannot be substantiated, not even by Amway. And I will say this: Amway doesn't advertise this as an IBO benefit. Current IBOs and prospects should think long and hard about this. If this were a true benefit of Amway, I'm sure Amway would shout about it from the rooftops.

I know of retired firefighters, teachers, lawyers, doctors, government workers, accountants, business owners and just about any occupation you can think of. A friend of mine recently retired from a construction material salesman position. Most of them have their homes paid off, and live comfortably on pensions, savings and other assets and investments. They are not dead or broke by age 65. Sure I do know of some people who are around the age of 65 who are not doing as well financially, but none of them are starving, needing government assistance or working at WalMart out of necessity. I believe ths is a scare tactic used by Amway promoters who want you to think that your only hope for financial security is by running an Amway business. Sadly, for most, the result is net losses in Amway because of the "systems". And I might add that the diamonds are likely to be earning significant income from these systems. Food for thought.

I've asked before, I'll ask again. 50 plus years, possibly tens or hundreds of millions of IBOs. Where are these Amway IBO retirees? Do they actually exist or are they as legendary as the Sasquatch?

14 comments:

Anonymous said...

I was looking at someones top list of the largest Amway distributorships. I don't see anyone just walking away and getting residual income. They'll never receive millions a year like Michael Jordan does with his shoes and nikey brand.


http://onlinemlmcommunity.com/the-top-27-amway-diamond-ibo-top-earner-success-story-distributors-of-all-time/

Joecool said...

I agree. I believe that the diamonds keep working because they cannot afford to retire. Granted working the functions and showing plans might not be as hard as a 9-5 job but they still need to be places at certain times. They sure aren't walking beaches while money rolls in.

Anonymous said...

I do see brig hart who took many of his Amway downline to monavie retire. But he sold his distributorship of monavie. While still being the top leader. The person who baught it was well known Mlm builder. So he didn't just walk away but found a replacement. Probably can't demand much when selling either.

Joecool said...

Yep, he sold the business to someone who will build it but he didn't "walk away" to collect residual income. If he walked away the business would probably fall apart quickly.

Anonymous said...

Ibofb, argument on his site is some of the people we mentioned. Are in the 90s and early to mid 2000. That they don't apply because they aren't in the business,quit etc. That critics like me use poor grammar and we should be ignored. But when I see the circled drawn. I'm told diamonds instantly are multi millionaires and residual income for life. I just see ibofb and a few other pro Amway twist the facts to favor Amway.

Joecool said...

IBOFB is an Amway shill and defends Amway at all costs. He's constantly cherry picking information. We were talking about whether people register in the US to make money in Amway or whether they join to buy products. He cites an Amway Japan survey showing people join to get product discounts. Those tricks don't work on me but he fools unsuspecting people.

I suspect many diamonds are in debt living check to check. Portraying a lifestyle of wealth is expensive.

Anonymous said...

Recently I saw on Instagram a brand new silver in wwdb. Thing which makes me laugh is he's not even a diamond. But he waste money traveling to events. To visit his uplines home in Idaho and to just hangout with Dave Severn. How can it be profitable with so much travel and expenses? Then this kid says you can join us in Idaho next year. Why would I spend a nickel to visit and waste good money? Doesn't sound like w business to me. Just more Micky mouse expenses.

Joecool said...

Platinum is shown as a success but if they are dedicated to tools and ma,ing all the trips, they can lose a ton of money. I believe my platinum lost his shirt too. He took all the extra trips plus took long distance trips to show the plan for distance groups. Not to mention he's still there 20 years later and he's not even close to platinum now.

Anonymous said...

Joe, your platinum is brainwashed. To think quitting is a bad thing. Sometimes people like gamblers,alcoholics,and Amway Ibo's. Should know when to throw in the towel. Its beneficial to everyone.

Joecool said...

My platinum joined in 1993 or 1994 and he is still a dedicated IBO. Talk about losing money and being brainwashed. If you're losing money, quitting and cutting your losses is a good option and a smart business decision. My platinum was also my sponsor and now his kids are grown up living in a slum (below your means) and my sponsor was a physician so he totally wasted his life and is still doing so in Amway.

Anonymous said...

Strange they stick to it. There use to be many more diamonds who just quit in wwdb,divorced,smaller major functions etc. Can see all these signs its not a good business. Also the net came along and easy access to everything negative. My diamond who use to make fun of his platinum leg. Saying this guy has a failing restaurant compared to Amway. Just seeing the platinum treated like dirt told me not to stay

Joecool said...

Yeah, the internet really gave access to expose the Amway scam and the secrets that the diamonds held about tools. The platinums (IMO) work the most and although they might finally make a profit, they have the daunting task of keeping a group together and working legs so they can maintain platinum. If nobody excels, you are likely to fall below 7500 PV.

My former platinum lasted about a year before the seams came apart but he's still active 20 years later.

Anonymous said...

Joe,The new wwdb platinum I'm talking about is a lot like your former platinum. Just looking at his Facebook page about traveling over to eat pizza and hangout with Dave Severn. Has nothing with making a nickel in Amway. These people enjoy being on stage and being admired. This new silver is Asian decent and seems to be well off. Theres some very well off Asian kids with wealthy parents. They get off playing Amway and just showing off to other people.

Joecool said...

I think you're right. Some people forget they are supposed to be running a business and it becomes secondary to the adulation and social aspect of the Amway business.