About a month ago, I spoke to a group of employees who worked for a small loan office in middle Tennessee. I was describing to them a strategy, using the tax code, where they could potentially legally never file a tax return again. Most of them were interested, but their boss, who was listening in to the presentation wanted to know everything about the strategy right up front. Now, I’m a big believer in prepping the mind for the onslaught of new information that we give people, but for those who are more knowledgeable in the details of the financial industry, it can get tedious or feel like a chore. Unfortunately for some in the audience, they were not quite up to speed. One poor lady looked absolutely bewildered as the acronyms and terms that were being thrown around. IUL, VUL, investment floor, capped investments… clearly she was lost. I felt terrible for her, because so often in any industry, when we are wound people who understand the same information we forget that others are left behind.
Growing up, it seems as though age means that you gain more knowledge and understand the world better, but that’s not always the case. Experience is the best teacher in life and if there is no experience, there is no knowledge. In our own trade, we have experienced so many different scenarios, we sometimes forget to educate. What this experience taught me, was that the words we use and terms we create can alienate potential business because they think that we are too good for them. However, every problem can be solved with action, so I decided to change course a little bit.
I have kept it secret for about a year now, but I have been working on a course to help educate people as to how efficient they can be in their quest to create wealth. From this experience, I’ve decided to create a section inside the course which goes over the most basic terms and things to allow people the chance to grasp industry information. This will go over insurance topics like: Term life insurance, Whole life insurance, Variable Life and Universal Life insurance. Even market topics like: What is an index, what is a stock, what is a mutual fund, what is a qualified plan. It’s funny how little events in our life can lead to great revelation in action, I can’t wait to see what you will do with yours.
To your creation and potential,