Why is infighting rampant in the Insurance Industry…

Whole Life Vs IUL…

Buy Term Invest the difference vs Cash Value Life…

Annuities Vs Cash Value Life…

401K/IRA vs Roth Conversions…

Investment vs Life Insurance…

Series 65 vs no securities license…

Non-Med vs Fully Underwritten…

Affluent Families vs Business Owners vs Middle America…

We fight over concepts, products, philosophies… THINKING we are 100% right! The fact is no one person is 100% right!

Planning for someone’s future is always a moving target, variables change, rates change, products, concepts, and economic changes. All moving around.

The planning process is fluid, you can give 5 advisors a case to build and get 5 different answers, And yet, all 5 plans will put the client in a better financial situation. Based on what “We” think is best for the client.

Any recommendations we make are an EDUCATED OPINION! We look at their situation and consider the facts, wants, needs, and emotions to create a plan that we 100% think is the best thing for the client based on our knowledge and internal biases. Our Job is to help the client understand how our recommendations solve their problems and better their situation.

I know this creates conflicts between agents and advisors when recommendations are not taken, listened to, questioned, or rejected. We need to let this go. We need to change our mindset, from attacking each other to understanding there are different avenues to achieve the same goal.  Ultimately it is up to the client to make the final decision anyway. The client is the final variable in a plan. They are going to do what makes sense and what feels good to them.

Our best recommendation is still just one option! In most circumstances, there can be 1-5 options /opinions or more. All Good. All make the client’s financial situation better. The end goal is to leave the client in a better position than they are right now!

Here are my 4  primary considerations when it comes to working/planning with middle-income families and retirees.

  1. If the family or retiree needs life insurance long-term, then cash value life insurance works better than “Buy Term Invest the difference”!
  2. Families and retirees should not invest money in the market they can’t afford to lose!
  3. Families and retirees need an emergency fund. And it needs to be accessible and there when they need it the most.
  4. When you retire it is not about how much money you have in savings. It is about how much of your money you get to spend.

These are the 4 considerations; I use in every middle-income/retiree case. In my opinion, every agent needs to follow these rules.  But It’s an opinion and I know every agent will not follow them, and some agents will want to argue against them. But at the end of the day, I will stick to my considerations, I will not apologize for them, and I will continue to put out the absolute best plan I can to help my personal clients and the clients of the agents I serve!

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