Welcome to this myEcon review. Can it really help improve your overall finances and get you a step closer to financial freedom? We’ll soon find out whether it’s a scam or a legitimate business opportunity.
The truth is that gaining financial freedom is everyone’s dream. I mean, who doesn’t want a debt-free life, the ability to buy what they want, or the ability to take a vacation when they wish? myEcon promises just that.
However, things are not always what they are portrayed to be, especially by most MLMs. And if you’ve ever burned your fingers before on such promises, you certainly have a right to be skeptical.
Research can take you far as it helps you avoid scams and find legit programs/products that don’t disappoint. That’s why we are here. We will help you determine whether myEcon is a platform you can trust or just another of the numerous MLM scams out there.
This piece handles everything about myEcon – from what it is and how it works to evaluating several myEcon reviews by current and previous users. Let’s get down to it!
Chances are you are here because you are looking for a way to make some extra money. Also, you might have heard about myEcon, a company that promises you the chance to make good money and achieve highly sought-after financial freedom. But is the claim true?
Well, myEcon is an MLM company founded in 2005 by Ivey J Stokes and Alvin Curry. The multi-level marketing business is based in Atlanta, Georgia, and promises to show you how to make money and lead a successful life.
The financial services company came into existence intending to help the average Joe improve their finances. To accomplish this, myEcon, or My Economy as it’s sometimes known, makes use of three main pillars:
MyEcon’s vision is to help families attain personal financial success. They will do so by offering tools and training to assist them in leading debt-free lives and increasing their cash flow.
Currently, two people run the show in this company to help it achieve its goals. Larry Gates is the CEO/COO, while Carlis Curry is the CFO.
At the time of writing this article, this MLM company boasts more than 50,000 independent marketing associates. According to its website, it’s among the fastest-growing MLM companies in the US.
For starters, myEcon is a network marketing company that aims to restore financial equality in the country and help people improve their financial status. It’s in the financial education space, which is a billion-dollar industry.
The company claims to have helped hundreds improve their monthly cash flow, including a few who became millionaires. If investing sounds like a foreign language to you, with their consultancy and investing advice, you can apply their strategies and ultimately benefit from them.
If you’re an existing member, you can promote their product line/services and sell them to others as a distributor. You’re eligible to earn retail commissions on your sales and can also build a team if someone joins the program through your unique referral link.
You’ll get advice on restructuring your income, saving taxes, investing in assets, and improving your monthly cash flow. Using their software services and investing advice, you can also supposedly manage credit better and take care of debt.
They also have a members-only mobile application available to iOS and Android users. You have to be an associate of the platform or a customer directly invited by an associate to get the app. With the mobile app, you can:
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It’s pretty easy to join myEcon and become a member. But first, you will need a signup link from one of the company’s sales associates. Clicking on the link takes you to the associate’s company-sponsored website, where you get the signup opportunity.
From here, you will need a one-time setup fee of $19.95 to become a Marketing Director with the company. Also, subsequent months will attract a $34.95 monthly fee to keep your membership active.
As a Marketing Director, you will receive training on the Income Shifting Membership, which is how you’ll succeed here. For more details, go to the main website, open a support ticket to join, or ask the person who invited you to the program.
Once you successfully sign up as a member, you will also be given a personal website like other associates or distributors. The website is a subsite of myEcon’s main website, and you will be using it to sell the company’s products or sign up new members.
As an associate, you get access to the following:
Frankly speaking, the package seems like a great deal. Even if you don’t earn much money through the sales, you’ll have attained much in training. This is even though other MLM companies charge a bit lower for their memberships and programs.
See Related: How to Use ClickFunnels for Affiliate Marketing
No, myEcon cannot be considered a pyramid scheme. Unlike pyramid schemes, myEcon offers tangible products and services, and you’ll only make money when someone purchases them.
Then, some members use the platform for their financial services alone and have little to no interest in recruiting/growing their team (and residual income). This alone qualifies myEcon as a legit company and not a pyramid scheme out to scam you of your hard-earned cash.
However, always research before venturing into any business opportunity to avoid scams. Stay alert!
Making money online with myEcon isn’t as hard or easy as some think. For starters, while the company promises an easy way out of your financial problems, it’s certainly not a get-rich-quick scheme. You must work hard to get the products going and recruit new members.
However, when done right, you can make good money through the company and even beyond if you use their training well. Here are some main ways to make easy money on myEcon compensation plan.
After signing up for membership at myEcon, you should buy the Income Shifting Membership plan first. This helps you qualify as a Marketing Director.
Having this membership opens your doors to recruiting new members. And by doing so, you can earn referral money. The first two direct referrals you bring on board will earn you $10 once they purchase their Income Shifting Membership (ISM).
The $10 commission applies to new associates when they refer their first referrals. However, you start pocketing $35 per referral from the third direct referral. This is because your 3rd referral moves you from an MD to an EVP (Executive Vice President).
This new level also gives you a new Baseshop. The Baseshop comprises your direct referrals and their direct referrals who haven’t qualified to be EVPs. You will earn $25 for every new direct referral under your Baseshop, as far down as it goes.
However, the commissions will change if your retention level is below 80%. For instance, if your one-month retention is lower than 80%, your direct referral earns you $17.50, while a direct referral in your Baseshop earns $7.50.
The second money-making option in this multi-level marketing company is through retailer commissions. Each membership or product you sell has a commission volume (CV). The CV helps calculate the actual commission you get for these sales.
So, how does this work?
Take an example of a product like the ID Defender. It costs $7.99, but the commission you earn is not from the $7.99. Since its CV is $2, the company will calculate your commission from the $2.
The commissions will also vary with your associate level in the company. For example, a Marketing Director will get 15% off all products they sell directly. On the other hand, you will get 25% off all products you sell as an Executive Vice President (EVP).
Therefore, in the case of the ID Defender, an MD will receive 30 cents, while an EVP will receive 50 cents. But that’s not all.
If you are an EVP, you earn 10% on commissions earned in your Baseshop. Also, you get up to 17% off commissions in your Generations. Usually, Generations are formed once an MD from your downline becomes an EVP.
Since this is an MLM business, you can earn residual income on your referrals’ monthly membership renewals. In other words, DTRs are commissions you earn when an associate or distributor in your Generation pays their ISM for five months or more.
Depending on your team’s membership plans and your rank within the company, expect to make between $1 – 8 per month per member. And the deeper your downline is, the more money you can make.
If three or more of your directly recruited people (team members) renew their monthly membership within 30 days, you’ll get a $45 retention bonus, which counts towards dream team residuals. It will be paid as a part of override commissions.
Apart from their core products, you can make dough with the platform’s online cashback and travel services. All these add to your options for making money online with the platform.
The company offers a dozen products catering to people interested in health & wellness and financial education. Following are some of the leading markets they serve:
Let’s check out their main products:
Usually, myEcon website sells products from companies like BestBuy, Macy’s, and Walmart using their affiliate program. And for that, the company is paid commissions for every sale.
Subsequently, instead of taking all the commissions for themselves, they share them with their distributors/associates. The commissions are, however, not very attractive as they are usually not more than 5%. Also, they might sometimes take forever to get to you.
But since the commissions come as cash back for products you usually buy in your favorite store, it’s still worth it. You will enjoy some savings on your purchases, no matter how small.
Identity theft is a serious issue that causes millions of dollars in losses each year. Protecting yourself against such occurrences is paramount to preventing the loss of your money or property. And that’s where myEcon Identity Defender comes in.
You can opt for an $8.99 monthly individual plan or a family plan for $14.95, with the family plan covering up to five members. Each of these plans offers the following:
With these products, you can detect and protect against identity theft or restore your credit status.
Improving your credit score is the first step towards personal financial success. Banks and other lenders want a good credit score before they can trust you with their money. And since you will need some financial assistance to achieve that big financial break, you must take care of your credit score.
Sometimes, even employers and insurance companies need to see a positive credit report before employing someone or offering a cover. MyCredit System from the myEcon company helps you achieve your desired credit score.
With their smart credit repair system, you can easily turn around your credit score for the best. The product gives you access to the following:
By the end of the training, you’ll have adequate knowledge of the following:
The entire package costs you $99.95
This is an online cash flow management system from myEcon. It helps you record, organize, and store your financial transactions.
The system makes tracking your income, tax-deductible, and other expenses easy and stress-free. Subsequently, you can easily reduce the amount of taxes you pay and save time.
Usually, offering tax deduction advice on your monthly/yearly cash flow and investments is one of their premier services. Utilizing it, you can save money by writing off your cell phone, vehicle, travel expenses, etc.
This way, you can legally make back thousands that you’d otherwise pay to the tax man. This can be a valuable service for many, especially those in the high-income bracket – unless you have an accountant who does everything for them.
For a monthly fee of $10.95, you get access to the following features:
People love traveling. In fact, travel is among the largest industries globally. And travel memberships are on the rise to help give members discounts on travel for a fee.
However, with myEcon travel membership, the package here is a bit different. Besides getting discounted prices on hotels and flights, this membership allows you to save significantly on membership fees.
For instance, the standard fee for a premium travel membership is between $600 and $800. But with the myEcon website, you only need to pay $139.95 annually. That’s a 70% discount on the membership fee.
You can also opt for a $13.95 monthly plan with a $39.95 one-time setup fee. These two options have zero obligations, and you can cancel the plan anytime.
Some of the best features of this plan include the following:
See Related: Is It Works a Scam? (A Pyramid Scheme in Disguise)
While myEcon is designed to help you make money and achieve financial freedom, it also doesn’t forget that you need good health. And with their “Health and Nutrition” package, you can easily care for your health.
A good example is the Daily Ultimate package. It includes a bottle of vitamin supplements and costs $36.95.
You can also choose Body One Nutrition’s MSM, which costs $19.95 a bottle. The idea is to help you stay healthy at a minimal cost.
Road emergencies are never pleasant, especially when you have no one to turn to. They might be simple, like a flat tire, battery jump-start, or even a major one that needs towing, but they can be quite frustrating.
However, with the Road Assistance cover from myEcon, you will be all sorted. The package costs only $7.99 a month, and you won’t have to worry anymore whenever you are on the road.
myEcon also claims to offer the best solution for coffee lovers and those seeking to shed some weight. At just $19.99 a box, you can treat your senses to the sweet aroma of a NuviaTrim cup of coffee. This coffee comes from the famous Sumatran Arabica coffee beans and will leave you wanting more.
NuviaTrim is perfectly roasted, bringing out a richly flavored drink with weight loss extracts. It combines the potent extracts of Garcinia Cambogia, Green Coffee Bean, Green Tea, African Mango, Raspberry Ketones, and Ganoderma.
However, this also has a disclaimer. The company acknowledges that the purported effects of coffee haven’t been evaluated by the Food and Drug Administration. As such, the company is not obligated to compensate you if you don’t achieve the expected results.
As mentioned earlier, myEcon is a multi-level marketing company. As such, you earn from your direct and salespeople’s efforts in your downline.
When you join this company, you have a chance to rise between different ranks as follows:
This is the first level or rank once you join myEcon company. You only need to sign up and buy the income-shifting membership package to become a member.
Once a Marketing Director, you can sell products or refer new members to earn commissions. A referral here will earn you $10 each.
After you bring in the 3rd referral, you rank to become an EVP (Executive Vice President). You can also become an EVP by generating a commission volume of at least $200.
As an EVP, your commissions also change. You will earn $35 for any direct referral you onboard and $25 on referrals in your downline.
The EVP Gold rank requires 10 or more active referrals under your sleeve. Alternatively, earn at least $8 in commission volume (CV) within 5 weeks, and you are good to go.
At this rank, you earn $35 for each referral you onboard and $25 for any MD signed up in your Baseshop. Additionally, you get 25% to 100% commissions for your direct sales and 10 to 85% for sales in your downline.
And that’s not all. You will also get the following;
You must have at least 80 active referrals to become an EVP platinum. And if that seems difficult, try generating $60 in commission volume within five weeks.
These conditions show that the higher you rank, the harder it becomes to achieve the next rank. But also, the higher you rise, the more attractive your commissions become.
For instance, you get what an EVP gold gets, except for the;
You become an EVP infinity once you have at least 400 active referrals under your name. You can also become one if you grow your commission volume to $400 within five weeks. Here, you are one step shy of achieving the highest distributor rank in the company.
As for the commissions, you get everything in EVP platinum plus these additions;
This is the highest rank you can achieve in myEcon company. However, achieving this rank needs some work.
For starters, you need at least $1000 in commission volume within five weeks to become a CEO infinity. Alternatively, you are also good to go if you can accumulate 1000 active referrals, although that might not be easy to achieve.
When it comes to earnings, this rank earns most of what an EVP infinity earns, except for a few changes. For instance, regarding the DTR, a CEO infinity will earn an $8 bonus for referrals signed within the 1st and the 5th Generations. Any subsequent Generation earns them $3 per referral.
See Related: Expert Secrets Review – Ultimate Guide to Building an Online Business?
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No, myEcon is not a scam. It is a legitimate company that has been around for over a decade. Even though it utilizes the MLM business model that isn’t loved by many, it still offers real products/services that are beneficial for all.
The company even has an A+ rating from BBB, which is quite an accolade. If you’ve had difficulties managing your finances and cash flow, why not give them a shot and see for yourself? Either way, we all need one service or the other.
However, if it’s the business opportunity you’re interested in, you can do better elsewhere. If you’re a beginner, you won’t thrive with MLM-based businesses unless you fancy recruiting.
There are better (and cheaper) alternatives that can generate some dough working from home. All that’s needed is commitment to the process and learning to help you gain an edge.
We got your back. If you’re looking to work from home, we can help you get started in the right direction. Affiliate marketing is one of our favorite business models and for a good reason. It can help you achieve financial, location, and time freedom in no time.
It’s one of the fastest-growing business models and among the best ones. The benefits, if you may ask, are that you don’t have to own a product or deal with the hurdles you would face promoting a physical, tangible product.
Simply select a product of your choice (the one you like), and get some sales. Moreover, unlike most multi-level marketing programs that have pay-to-play characteristics, you don’t have to pay a dime to be an affiliate for a product. At least not to legitimate affiliate marketing programs.
You’re also never married to a product in any way. You can always switch between different products since you don’t have to pay to promote the system. You can even ditch the ones you don’t want to promote at any point, as there’s no risk involved.
Our top recommendation has helped hundreds of people escape their 9-5 day jobs and has helped them earn a realistic 4-5 figure per month online. It has been going strong for over a decade, and the strategies have stood the test of time.
It will ask for some investment of your time and efforts, though. If you’re ready to start your own profitable online business and finally increase the monthly cash flow your businesses generate, we highly recommend you give it a shot. If you ask us, it’s totally worth it.
Definitely check it out if this piques your interest.
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No. There are other more profitable online ventures you can pick and make money. For instance, affiliate marketing or stocks and real estate investing can offer you a more lucrative and stable source of income. Ultimately, researching each option and deciding based on the information you gather is essential when deciding which route to take.
No, there are no hidden fees. The only charges you will incur are the one-time setup fee of $19.95 and the monthly membership charge of $34.95.
No, you don’t need any sales background to join myEcon as a Sales Associate or Marketing Director. However, if you want to maximize your success in this program, having some knowledge/experience in marketing and sales would be beneficial.
The best way to make more money with myEcon is by leveraging their Income Shifting membership and marketing system. With the help of these tools, you can start bringing in new members and customers through your unique referral link while also earning commissions from any sales made.
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Last updated: November 28, 2024
