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myEcon Review (2022 Update): 7 Things You Need To Know Before Joining!

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By: Scam Risk - Expert Reviewer

As with any Network Marketing associate, myEcon sales people claim that they can show you the path to financial freedom with their MLM business opportunity and the training that they provide.

Well, that sounds awesome, right?

I mean who doesn’t want to be debt free and have financial freedom?

But I’m guessing you’re here because you’re just a little skeptical… maybe even a bit cynical. Perhaps you’ve been burned in the past by another bullshit MLM and you don’t want to go through that pain in the ass again.

Believe me, I understand. You want to learn more before you jump into something again.

So, let’s go over a few things…

DISCLAIMER:
This MyEcon MLM review has been thoroughly researched with information and testimonials that are available online to anyone in the public. Any conclusions drawn by myself are opinions.

Chances are you heard about MyEcon because someone – a friend or family member – introduced you to the company. Maybe you attended an online workshop or webinar, or maybe an in-person information session. 

Your head’s probably spinning. This might be the first time you’ve heard about a real way to make money outside of a typical job. 

So first off, congratulations! 

You’ve just entered a whole new world…the world of making money on your own terms.

However, you came in through the wrong door. 

Because MyEcon is – plain and simple – an MLM. Throw whatever fancy name you want on it…multi-level marketing (MLM), network marketing (NWM), direct sales, or anything else, it’s the same concept:

You pay some money upfront for the “opportunity” to sell products. 

The products are typically low-quality but with high price tags (because fancy labels and stuff).

You’re told that the key to building your own successful business is selling these products to friends and family, and getting them on a subscription (so you get “monthly recurring revenue”).

Unfortunately, like most people who get taken in by these types of schemes, you’ll quickly discover that the well runs dry faster than you imagined. 

After all, they make it sound really simple. “Just get 5 people you know onto this magic widget, and things will just grow from there.”

And in your head, you think “How hard can it be? I know plenty of people, 5 will be easy.”

But then you do it, and you realize people look at you like you’ve joined a cult. You’ve become “that person”, who joined an MLM, and is now trying to sell questionable products or services to everyone they meet. 

It puts a strain on your relationships, and you end up stuck between two worlds.

But it’s not your fault. These companies spend millions of dollars each year figuring out exactly how to brainwash and recruit people. And that’s why we’re here. 

To help you find a better way before it’s too late.

So, what if there was a way you could build a passive income stream that’s actually passive?

 

An income stream that doesn’t require:

  • Inventory
  • Selling to friends and family
  • Selling to strangers
  • Recruiting people
  • Dealing with questionable products that weigh on your conscience

An income stream that brings in consistent revenues every single month (from a couple thousand dollars to well over $10,000)?

An income stream you could actually build in your spare time, and grow as large or as small as you want to, without having to spend hours a day chasing, selling, or managing anything?

If that sounds like something you’d be interested in, check out Digital Real Estate. 

TESTIMONIAL - STILL GETTING PAID

This is nothing like MLM, and that’s probably a good thing. 

However, if you’d still like to know more about MyEcon, keep reading.

Table of Contents

What Is myEcon About?

myEcon is a Multi-Level Marketing company headquartered in the United States. The full name of the “business opportunity” is actually MyEconomy.

They boast that they are able to show people who sign up with their program how to be a success in life. This is done by following the principles laid out in the “Income Shifting” membership package.

According to their company website, their CEO is a man named Larry Gates and it was founded back in 2005 by a fledgling group of investors and entrepreneurs.

But I did a little digging and found out that a man named Ivey Stokes is the actual founder of myEcon and has a net worth of over $700 Million. It just seems a little odd that their website doesn’t mention that.

Be that as it may, the products that are sold through the company range anywhere from health products to services that are designed to help you improve your credit score.

And, of course, their products are sold through a large network of “sales associates” and business opportunity seekers. However, most people who get involved with the company do so in order to start a work-from-home business.

On top of just selling their products, these sales associates are given the chance to sign up other people into the business opportunity as well.

The myEcon Product Line

Of course, when you’re taking a serious look at any “reputable” MLM, the one thing that you really need to consider about their product line. If you can’t really put your finger on what the company is actually selling, then you should high tail it out of there.

The things is…

The products of a company is it’s life’s blood. If the products are good and ethical, then you might have a winner and people may have a good chance of making money with it. However, if the products are second-rate, or perhaps even non-existent, then it’s really not worth your time because, for the most part, the only money that’s made is when people sign up other people into the company.

But from what I’ve seen, it looks as though myEcon does have real products and services that appear to be of decent value.

The crazy thing about the product line is the extent of the product line. I mean, on one end of the spectrum you can buy coffee and then on the other end you have Identity Theft Protection services.

Here’s a list of just of few of the products from myEcon:

  • Coffee Beans: $17-20 for a box
  • Smart Credit Repair System: $100 credit repair service
  • Identity Defender: $8-15 per month ID Theft Protection
  • Cashflow Manager: $20 per month cash flow management system
  • 750 Credit Monitoring: $24 per month bi-annually
  • Vitamin Supplements: Daily Ultimate for $37

You can see for yourself all the different products they offer and how they vary so widely.

Also, if you do decide to sign up with the company as a Marketing Directory, you are instantly approved for the Income Shifting Membership.

Basically all this does is help you in your journey to financial freedom by exploiting tax loopholes, and thereby increasing your income and acquire more assets.

When you take a hard look at the product line, I can’t really see anything that would lead me to believe that the products aren’t legitimate.

In the end, the only way to really know for sure if the products are legit is to try them first and see how they compare to other comparable products before joining the company

This way you can honestly sell stuff from a point of personal experience.

The myEcon Cashback Mall

Now this is something that I’ve haven’t come across before, and it’s something that could potentially save you quite a bit of money in the long run. For that matter, there’s another mlm company (Team National) that actually does the same thing.

OK, enough of the cliffhanger…

Cashback Mall gives you about a 5% discount on certain products that you can purchase at stores like WalMart and BestBuy.

The way it works is like this:

Since myEcon sells products through these companies via their affiliate program, myEcon earns a commission for everything they sell. But instead of keeping that commission for themselves, they pass that commission on to their recruits.

Now the commission rate is generally pretty low (usually under 5%). Also, it can take quite a bit of time for any of that money to be paid out the myEcon, so it could be a while before you see any of your rebates.

All in all, as long as you’re buying stuff that you would normally buy, this is a pretty neat idea.

The myEcon Compensation Plan

So how do you actually make money with myEcon?

The compensation plan has a handful of different ways in the business opportunity that company associates make money.

Unfortunately, you cant really find anything on the myEcon website about their official compensation plan. This I really don’t like because I would think that people would want to know this information going in rather than hearing first from a recruiter.

But I was able to dig up the information from a generally reliable source

Now, the following isn’t a full-throated endorsement of the compensation plan, but I did my best to break it down as well as I can.

Getting Started

You’ll need to find a sales associate for the company in order to sign up with myEcon. Typically, you’ll be using their personal company-sponsored website. After watching a few Youtube videos about the background of the company and listening to a few other associate testimonials, you’ll be sent to the associate sign up link.

After you click on the link, you’ll be taken to a page when you can sign up as a “Marketing Director” for the company.

The cost to sign up with the company as a Marketing Director is $34.95 per month with an initiation fee of $19.95.

When you finally get everything square away, you’ll get you personal website (which is really just a subsite of the company’s main website). You’ll use this in order to sell products and sign up other people. There’s also some training for you to go through at your leisure.

That training is called the Income Shifting Membership and it’s what everyone uses in order to be successful.

Now, as a Marketing Director, you also get the following perks:

  • Credit Education Services
  • Discount Travel & Corporate Perks
  • Income Shifting Strategy (already mentioned)
  • Free & Discount Legal Services
  • CashFlow Manager System
  • Identity Theft Protection

Frankly, for all that you get, this kinda sounds like a pretty good deal even if you don’t end up selling much. For that matter, the monthly fee is a lot less compared to other MLM programs I’ve seen.

Ways You Can Earn Money

There are THREE main ways you can earn within the myEcon compensation plan. In this section, I will explain these income streams and how they work.

1) Income Shifting Membership Sales

There’s pretty much just 3 ways in which you can make money with myEcon. In the next couple of section we’ll break down how the compensation plan works.

It’s imperative that you buy the membership for Income Shifting after you sign up in order to become a Marketing Director.

After doing this, You are then qualified to receive $10 for the first couple of referrals that you make as long as they purchase the Income Shifting Membership as well.

This commission is generally only paid out when new associates joining the program

After this, you’ll earn $35 every time someone that you signed up becomes a Marketing Director and every time you refer an MD.

Then, after your 3rd recruit signs up to become an MD, this will qualify you to become and EVP (Executive Vice President). With this, you’re able to create as many individual downlines in your organization as you like. And every person that you refer directly for as wide as you can go.

These are call Baseshop organizations which consists of as many direct referrals and those that they’ve recruited who haven’t yet become an EVP.

I know this sounds like a lot to take in, so don’t be concerned if you haven’t quite grasped the concept. Just keep in mind that you will earn $25 in commissions for every new MD in your organization for as deep as it goes.

A quick disclaimer though… if your retention rate falls below 80%, that is more than 20% of your recruits decide to quit the program, your commission rates will also go down.

2) Retailer Commissions

Your retailer commissions is based on every product and membership and entails a specific “commission volume” (CV). This CV is what all future commissions are based on.

Just to give you an idea. ID Defender costs $7.99, but you don’t make your commission on the full $7.99 since the commission volume for this product is $2. Consequently, any commissions you earn will come from that $2.

Of course the commission rates for all the different products will be different.

Now, if you become a Marketing Director, you’ll get paid 15% for all the products that your sell personally. And if you reach the Executive Vice President level, that commission will jump to 25%.

So let’s try to break this down…

If you sold ID Defender, you could earn anywhere from .30-.50 centers every month base on you specific level with the company.

…and it doesn’t stop there.

As an EVP, you’re able to earn 10% on any commissioned sales that are made within your MDs organizations and up to 17% on commissioned sales inside your “Generations”.

These generations are form after a referral within your organization reaches the level of EVP.

Now this is the beauty of the myEcon compensation structure… when any other referral (whether it’s yours personally, or within your organization) gets sponsored by a 1st generation associate and becomes an EVP, they become a 2nd generation referral to you.

This can go on in perpetuity.

3) Dream Team Residuals (DTR)

Based on your ranking, you will get paid a commission of up to $8 per month for any associate (in any generation) that has paid the monthly fee for their ISM account for more than 5 months.

Conclusion: Is myEcon a Legit Opportunity or a Scam?

So, is MyEcon a scam? Not technically. You can make money with this program, but it’s definitely not as easy as the company makes it sound. 

There’s a ton of work to be done upfront, no real guarantee of success, and – most importantly – the actual commissions are pretty small. 

Now, there’s nothing wrong with front-loading the work and making the money later.

But if you’re grinding it out for 3 months and then your reward is a $50 commission, it’s not really worth it.

What if, instead, you could do that same 3 months of work (in your spare time), and your reward was a $500 to $2,000 payment that came in every single month?

And what if you actually didn’t need to wait 3 months? What if you could get started today and have your first payment in a week?

And what if you could double it next week?

Well, that’s the power of Digital Real Estate

And, unlike an MLM, you can legitimately do this from anywhere. It’s a true lifestyle business. 

Your laptop and an internet connection is all you need.

Some of the most successful students in this program run their entire 6-figure businesses from:

  • A camper in the middle of the woods
  • A beach chair on the water in Mexico
  • A small villa in Greece
  •  

TESTIMONIAL - Saying Goodbye To Our Jobs

They’re able to travel around, living their lives first, and focusing on their income second. 

Because even if they stop working for an extended period of time, the money keeps coming in. 

So adventure, memories, and experience are the top priority. 

And they never have to worry about how to pay for the next trip, or consider asking for time off. 

If this sounds more like the type of life you want to lead, just click here to find out more about Digital Real Estate.

Are There Alternatives To MyEcon?

Yes, there are plenty of MLM companies to choose from if you want to pursue this business model.  Here are just a few: 

What Is Our Top Recommendation For Making Money Online In 2022?

The ScamRisk team has spent months researching, reviewing, and vetting dozens of business models and thousands of programs.

While there may be no “perfect business”, the research IS conclusive:

Digital Real Estate is the #1 online business model for those just starting out.

Whether you’ve never made a dollar online, or you’ve been in this space for a while but never really “made it,” Digital Real Estate is for you.

Why?

1) It’s Flexible: got an hour a day? You can do this. Ready to drop everything else and dive in full time? You can do this. Yes, the more time you put in, the faster you see results. But even with a little time each day, you can move the needle in a Digital Real Estate business.

And because this system is so flexible, you don’t have to constantly be working to make more money. It’s called PASSIVE INCOME because if you stop working, the money doesn’t. 

Imagine taking 3 months off to just tour around Europe, rent a cabin in the woods to write a book, hike the Appalachian Trail, or live on the beach and surf all day. 

This is only possible if you have an income stream that’s not tied to your time.

TESTIMONIAL - JUMP ALL IN

2) You Own & Control EVERYTHING: With MLMs and Network Marketing, you don’t really own anything. You have no control over the quality of products. You don’t even own your “team”.
Look at the fine print for most of the agreements folks sign when they join one of these companies. At any point, the company can change your commission structure, reduce your profit margins, or kick you out entirely.
With Digital Real Estate, you own the assets, which means you have all the power and all the control.

TESTIMONIAL - FEELING BLESSED

3) Little To No Startup Costs: It’s possible to get into Digital Real Estate with zero dollars upfront. Because, using the strategies outlined in this program, you can get a client to pay you BEFORE spending a penny out of your own pocket…even before you do any work. 

Even without getting paid in advance, you can have your first Digital Rental Property up, running, and generating profits for less than $100.

TESTIMONIAL - SCOTT LEAD GEN

4) No Inventory: Alright, so most MLMs don’t make you buy the products and fill your garage with them anymore (unlike the good ol’ days), but you’re still in a physical products business. 

And physical products always have physical limitations. Even if you don’t have to manage the inventory, you still have to deal with supply chain shortages that cause major delays. 

Imagine finally landing your first customer, and then losing them after one sale because they had to wait 6 weeks to get their order.

With Digital Real Estate, a 100% online business, you never even have to think about that risk.

TESTIMONIAL - DONE DEAL

5) Easy To Duplicate: Ok, here’s the best part: once you have your first Digital Rental Property up and running, you can literally DOUBLE your income with a few clicks, a couple keystrokes, and a single phone call (and you don’t actually need the phone call).

Remember: each Digital Rental Property is worth $500 to $2,000 a month in semi-passive income (over 95% profit). Every time you decide to create another one and increase your income, it gets easier.

Because you have more knowledge, more experience, more results, and more momentum. 

If you wanted to double your income with an MLM, you’d have to double your customers OR double the average order size of your existing customers. And, guaranteed that’s a lot harder than a few clicks and a few minutes of your life.

lead gen air bnb

6) Make Money Helping Real People: This part is what makes it all worth it. In an MLM, your “upline” might convince you that what you’re selling improves people’s lives, but deep down, you likely know that’s not true. 

Most of the time, you’re either selling a dream or a poor-quality, overpriced product with a fancy label. 

And that makes it pretty hard to sleep at night.

But with Digital Real Estate, you’re actually helping people by solving your clients’ biggest problem:

Small, local businesses need more customers, and with Digital Real Estate, you are unleashing a flood of happy, paying customers for these businesses. 

You make money by helping them make money. 

Not a big, faceless corporation either…a small business owner who’s using that money to put food on the table for their family, start a college fund for their kids, or take care of a sick parent. 

Once you see how Digital Real Estate makes a real impact in the lives of real people, you’ll sleep like a baby with a big smile on your face.

TESTIMONIAL - BOSS OF MY FUTURE

Now, the choice is yours. 

You could continue browsing, looking at opportunities like MyEcon which could one day make you money.

You could continue researching, never making a decision. 

OR, you could take a look inside, consider what you really want, and join a program that makes your dreams a reality. At the same time, joining a community of over 2,000 successful students that are living life on their own terms thanks to Digital Real Estate.

A consistent, reliable, semi-passive stream of income that doesn’t depend on you or your time to keep producing profits. 

All while genuinely helping real people who are grateful and happy to pay for it. 

If this sounds more like what you want out of life (or if you just want some nice side income), click here to learn more about Digital Real Estate.

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1 Comment
  1. MyEcon’s Mark Brown sent me an email saying to receive a sign up bonus of $13,500.
    I have to pay $345-$375 which includes fuel charges, fees for delivery.
    To join MyEcon is only $39.99. Nothing has been said about a monthly fee. I can send you a screenshot of the emails, if needed.
    I want to get out of debt. I could use the money, but is the $13,500 signup bonus legit?

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