Tuesday, April 26, 2016

Amway 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 personally 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. In fact, several crowns have sort of recently passed away while still working the business. Sure, you can argue whether a crown works "hard" or not, but having to be somewhere at a particular time (functions) to earn money is not the freedom that these folks preach. And, 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, which is why I believe even crowns keep on working.

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. But generally, diamonds just keep working the business, probably because they have to!

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? Can anyone name even two of these people?

14 comments:

Jerry D. said...

Rich DeVos and Jay Van Andel.

Anonymous said...

When you ask them why the diamonds still have to work on their ass? They will say that they are still working because it is in our best interest to help these downlines succeed.

Really?

Anonymous said...

I remembered the time the recruiter made these claims that "there was this guy in (whatever place you name) who retired at 24 and so on and achieve financial freedom because of the business."

I said to myself that if this was true then:
1. There will be fewer youths in the job market.
2. No one will have to go to school to find better jobs.
3. People will just naturally be attracted to the opportunity.

Joecool said...

Yes, they are wealthy but they own Amway. Owning a business where people move your products at their own time and expense is a great deal for the owners. Not so much for the IBOs.

Joecool said...

Of the diamonds say they care about their down lines. The truth is likely they are working because they have to. Many people live paycheck to paycheck. I believe many diamonds do also, even if they may have nicer stuff than some normal working people.

What people don't know is that a diamond gets most of their income from Amway as an annual bonus so a diamond's monthly income might not be so much.

And that's why they need to work the meetings and functions. That's where a lot of their regular monthly income is from. And tools and functions have higher profit margins than Amway products, and downline don't share in the tools and functions profits.

Joecool said...

Ask them to name that person. Nota single person has been able to name an IBO who went diamond and actually walked away and retired from Amway. I believe they do not exist.

And yes, when my local electric company hires, they might get 5000 applicants for a handful of jobs. In Amway, IBOs often trick people into seeing the plan because Amway has a stigma.

Ben Dover said...

I've retired from Amway, and I am currently chillin' on the beaches of Nassau in the Bahamas. It totally kicks BUTT! I get to sit around drink Pina Colada's, and read silly blogs like JOEDROOL! HA! My downline is still kickin' butt and taking names selling product to our customers and they only call me when they want to say what's up...THEY DON'T EVEN NEED MY HELP!!! No tools, books, cd's blah blah blah they are CHAMPIONS! WE ROCK GO AMWAY!!!

Joecool said...

LOL. Good one!

Odd how the diamonds speak about retiring young with untold wealth but nobody can point out a single diamond who's done it.

Anonymous said...

I did that and his mouth was stuttering for a few seconds.

Anonymous said...

You can't retire from any business unless you have saved up a ton of money through careful economy and judicious investments, or unless you have a steady and fixed income from stocks, bonds, pensions funds, and Social Security. Ideally a retiree should have income from ALL of the above.

Someone who squanders his income on all of the fakery and fraud and hoopla of Amway will not be able to retire, period. This is the real evil of Amway -- it promises IBOs the dream of an easy retirement, and simultaneously takes away the possibility of one.

Joecool said...

LOL, I've been engaging n Amway related debates for more than 10 years and not a single person can name a diamond who built the business and walked away to retire in massive wealth. And we know why that is.

Joecool said...

That's the insidious part of Amway. Time and money is what IBOs want more of, but by joining Amway, ironically, they end up with less of both.

Anonymous said...

Yeah right, you are in the living room same as me, drinking water and reading this AWSOME blog.
And yes, IF you are rerired, why dont you leave the Amway ???

Joecool said...

Diamonds don't retire because they need the money!