Elderly Bankruptcies On The Rise

There was an article in the news today about people over 55 filing for backruptcy at an increasing rate. They have gone from 8% of the personal bankruptcies filed to 22%. This age group is hit by a one-two punch of job loss and increasing health care bills. They had a fixed amount of savings and their health prevented them from finding a way to make more. Their biggest income was the small amount that Social Security pays each month.

What makes this even more sad is that over 80% of personal bankruptcies could’ve been avoided by an additional $300 per month.

What these people needed was a renewable source of income such as a network marketing business. A good opportunity will offer residual income so that not only can they retire and do what they want, if their health makes it difficult or impossible to work their business, the income still keeps coming.

And, since it’s a willable asset, the income can continue after they are gone to provide income to their heirs or favorite charity.

Another good point about network marketing is that you are business for yourself but not by yourself. You will find many people who are willing to help you succeed because it helps them become more successful.

Obviously, the key is to ‘dig the well before you are thirsty.’ Build the business now so that you can enjoy the fruits later.

At www.StartLateFinishWealthy.com, I can show you some information about what I can offer.