Debt Free in 30 321 – Is Multi-Level Marketing (MLM) a Scam?
Description:
Amid economic uncertainty, side hustles have become a popular way to earn extra income. But while many side hustles are good, some are risky and can lead to serious debt problems. On today's podcast, guest and Hoyes Michalos LIT Julie Wildman discusses the risks of multi-level marketing ventures (or MLMs). While an MLM can seem like a great opportunity to "be your own boss" and work from home, it often comes with significant upfront costs that are rarely recovered. Julie walks us through how MLMs work, their success rates, and who is often targeted in MLM schemes. She also shares practical advice for how to ensure that if you do go into the business of selling products, you avoid taking on a massive debt burden. Tune in!
Related links:
AARP Study of Multilevel Marketing, 2018: https://www.aarp.org/content/dam/aarp/aarp_foundation/2018/pdf/AARP%20Foundation%20MLM%20Research%20Study%20Report%2010.8.18.pdf