Our Nation Is In Trouble! We Are Not Saving Money For the Future…
And We Are A Big Part Of The Problem!
08/12/2021… We have a serious problem in the United States that will affect every one of us. People in the US are not saving money for their future! We need to do something about it right now… before it is too late! Insurance agents and financial advisors need more and better training to help people to find money to be saving more money for their future.
In 1975, as a nation, we were among the best savers in the world, saving over 9% of our incomes annually. Plus, most people had a pension. And Social Security replaced a larger part of our pre-retirement income. Consider, the peak savings years are from age 45 to 65, when most people’s children are grown and out on their own. Are the people who saved the most in 1975, now retired?
Yet, every day, we hear about retirees who struggle just to survive. How many retirees do we see every day that work at Publix just to make ends meet? Have we heard about retirees who are homeless and are forced to eat cat and dog food? How many of today’s retirees, are from that generation of the best savers in the world?
The Problem Is…
- Over 15 million (or roughly 1 in 3 retirees) older adults aged 65+ are economically insecure, with incomes below 200% of the Federal Poverty Level. (Kaiser Family Foundation, 2018)
- Older women are more likely to live in poverty than men as a result of wage discrimination and having to take time out of the workforce for caregiving. (Justice in Aging, 2020)
- Over half of Black and Hispanic seniors aged 65+ have incomes below 200% of the Federal poverty line. (Kaiser Family Foundation, 2018)
- Over 14.8 million, or 4 in 10, older adults are lifted out of poverty by obtaining Social Security benefits. (Center on Budget and Policy Priorities, 2020)
- More accurate measures of economic well-being—including the Elder Index™ and the Institute on Assets and Social Policy’s Senior Financial Stability Index—show millions of older adults (retirees) struggle to meet their monthly expenses, even though they are not considered “poor” because they live above the FPL.
Insurance Agents and Financial Advisors Need More and Better Training To Help People!
Today, as a nation, we are now considered to be among the poorest savers in the world. In 1995, we were saving only 4.7% of our income, annually and in 2015 it was only 4.9% Compare that to countries like Sweden, Germany, Switzerland, Mexico, Canada, and many others that save well over 10% of their income each year!
Notably, the U.S., which has a GDP of $56,300 per capita, has a household savings rate of just 4.9%. On the other hand, Hungary, which has a GDP of $26,000 has a savings rate of 9.0%. (Household savings rate was defined as the difference between household disposable income, wages and net property income, and consumption.)
What will happen when it comes time for this generation of poor savers to retire? Who will have to foot the bills for them to survive? What will happen to our Social Security System? How will this problem impact our income taxes? How will this all affect our standard of living, and our ability to save money for their future retirement? What about the future of our children and grandchildren and their retirement?
Consider also, that these future generations of retirees will live beyond age 90. During their 25 years or more of retirement, how will inflation impact their standard of living? If these people are struggling at age 65, what will it be like at age 80 and beyond with inflation?
If we do not train agents and advisors to help people to save a lot more money for the future… as a nation will we have a reduced standard of living, for the first time in its history?
Agent and Advisor Training To Help People To Save Money… To Change The Future!
We need to train agents and advisors to get the message out to everyone, about how we to help people to save money for their future! Savings as little as $10 a week now, can make a big difference at retirement time. For example: if a person age 25, saves $10 a week, based only on a 5% return, then they will have over $46,526 saved at retirement. Time and compounding of interest are what will make money grow. Retirement specialists recommend you save at least 10% of your income if you would like to have financial freedom in retirement. Start saving $10 a week and then increase it, as you are able.
Did you spend $10 last week that you could have saved? How about the week before that? Is what you spent your money on last week or the week before that… More important than saving money for your future financial freedom in retirement?
Our Financial Services Industry Is A Big Part Of The Problem!
The sad truth is most of the insurance agents, financial advisors, planners, and brokers in our industry receive very little training on how to help people save money! For the most part, the only training most agents and advisors get is on products and/or investments. So they can make a quick and easy sale. Very few of them know how to do an in-depth fact-find to help people to see where they are today. And then how to help them to understand the problems they will face in the future! So they will want to set better priorities and save more money for the future.
And the worst part is there are only a few people that work with middle-income families… Other than to make a quick sale! Very few people understand the money management basics of how to achieve financial security. They struggle with too much debt. So they do not have the money they need to save for their future. And it is not their fault. Because there is no one out there who is taking the time to guide them. These are the people we need to help if we want to keep our country great.
Agents And Advisors Need More Training On How To Help People Find The Money To Save For Their Future!
Consider, when we work with an advisor, to make a point, we will ask them… “When was the last time someone sat down with you to talk about how much income you will need and want when you retire?” After they think about it, almost all of them will say never. Isn’t that sad? Is it any wonder this nation is in trouble?
Our mission at the Insurance Pro Shop is to help Middle-Income families to find the money to spend, save, invest, insure and plan wisely for the future! So that they can “Live Debt Free and Truly Wealthy!“ And it is not hard for you to help families to find $3,000 – $10,000 per year to put into savings. Once you help them to see and understand the problems they face now and will face in the future.
Our Trusted Advisor Success Program™ is about you learning to help middle-income families to find the money to Live Debt Free And Truly Wealthy! It is about helping your clients and prospects to get all the cash value life insurance they need to protect their families. While you help them to save for a tax-free retirement, save for college, create a family bank, etc. (Using cash value life insurance and annuities!)
Check out our Trusted Advisor Success Program™! Because you will get 90 days of personal insurance agent training, coaching, and mentoring… with back-office sales support! All from a team that has been training agents and advisors for over 40 years to help people so they will earn $250k or more per year selling life insurance!
We will show you how to find your best life insurance and annuity leads/prospects. So you will set great sales appointments. Then we will show you how to help your clients and prospects see and want to solve their money problems. We will also show you how you can help your clients and prospects to find the money so that they can take action right now! Then we will show you the best ways for you to present your solutions to your clients and prospects to close 9 out of 10 sales. So that you will earn $250K, or more this year selling life insurance and annuities like the legends.
It is the best life insurance marketing and sales system and training for insurance agents and advisors to help people!
When Will You Get The Best Agent and Advisors Marketing Tips, Tools, Training, and Coaching You Need To Help People? So You Sell More Life Insurance And Annuities?
Inside our Trusted Advisor Success Program™, you will find all the best marketing plans, strategies, and ideas laid out for you! You will learn the best ways for you to use Joint Ventures; Educational Workshops and Seminars; Booklets and Free Reports; Referred Leads; Social Media; Client Newsletters; Annual Reviews; and more – with all the tools, scripts, and more. Now you can find your best prospects and set your best sales appointments! Because your ‘special message’ to everyone will be all about how you help middle-income families to find the money to “Live Debt Free and Truly Wealthy!”
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When Will You Read Our Full-Length Book? So You Learn How To Really Help Families!
We urge you to take the time to read our 20 Chapter book… ‘Middle American Family’s Guide To Living Debt Free And Truly Wealthy!” Because we give you the complete strategies, on how you can help middle-income families to find the money to spend, save, invest, insure, and plan wisely for a secure future! So that you can help them to “Live Debt Free and Truly Wealthy!” As a result, you will understand our philosophies, concepts, and techniques by the end of the book. And finally, you will know how you can make a real difference by helping your family, friends, clients, and neighbors get rid of their debt. So they can save for retirement. So that they will have a secure financial future! Book Outline – Get A Digital Copy of Our 20 Chapter Book! Only $18.97, Immediate Download, ORDER Now!
Nothing Will Change Until You Make it Change. Get The Best Training For Agents and Advisors To Help People To Make It Change!