Lawn Chair Millionaire
Lawn Chair Millionaire is described as a “money share plan”.
The official spiel from the people behind the Lawn Chair Millionaire Money Share Plan says:
“The moment you LOCK IN your position in the Moneyline you LOCK IN your Moneyline Pool shares! Your first share is paid to you at midnight the day you join.
Every time you sponsor a new member you earn a $20.00 Fast Start Bonus that gets allocated immediately when the sale is made.
You earn a $15.00 Referral Bonus each and every month that your personally-referred members stay active by maintaining their subscription to The Vault.
Additional daily, weekly and monthly Leader Bonuses are announced by Lawn Chair Millionaire periodically. These bonuses are to compensate those who help their personal members duplicate their efforts.”
In my view, so this isn’t strictly a business. Not something where you create a product or service. No selling something of value.
It’s just a way of shuffling money about.
According to someone who has used this, the maths don’t quite add up. Check this out:
“ The truth about this program is that the moneyline pool only pays on the members that join that day. Next this commission is paid out over the next 3 months. I joined and received $75 in moneyline commissions, but this is split over a 3 months.
So, I spend close to $80 to join and received $20 back in commission. Is this a wise passive income investment?
Staying in the program will cost $80 to join plus $25 a month after that. So if I stay in my 3 months, it will cost me $130, and I will make $75. I'm at a loss from a passive perspective.
The next hitch I discovered is that in order to receive my commission I needed the company's debit card. If I sponsored no one (passive remember!) then the debit card costs $39.99.
Remember, I've already invested $80. Add $39.99 to that to receive $20 in commissions?"
Another critic complains that the actual income earned passively is “exceeded by the join fee and the debit card fee by a ratio of 2 to 1.”
In summary, then, I'd avoid.
Not recommended