Brainstorming is one of the most enlightening exercises in business. There’s nothing like a meeting of the minds to develop a fuller understanding of corporate goals, strategies and tactics. The facilitator needs to know how to turn into the storm to drive ideas and stay away from blowhards that take up oxygen in the room. Ideas must be pithy and to the point. Don’t be surprised that the vast majority of ideas are absolutely insane and can’t be implemented. But the few that survive are generally worth pursuing. There are always more tares than wheat.
Serving is part of the building process. Product selling can only go so far. The direct and indirect elements that affect product sales often become the servicing menu items that have marketing magnetism that attract clientele. As an example: Your firm sells life insurance, but that space is overrun with competition. You need to educate your clients, referrals and prospects on the tax aspects, the physiology of underwriting, the distinctions in product lines and planning scenarios that include indemnification, income and inheritance. Those are your differentiators.
Unwarranted fears can put the brakes on a company and decelerate growth and decrease profitability. Fear that we’re out of control is like braking on ice, you need to learn to steer into the skid. The ice is not in your control. If you have an accident, it may not be your fault. When someone does you a favor you may feel uncomfortable because in your mind, you’re indebted them. But many relationships come with help included and are offered without strings attached. People fear appearing weak, especially men. We are all human and crippled with shortcomings. No matter how broken we are or how incapable we feel, most of us have traveled down that road at some point in our lives. No one with half a heart is going to discount you. Our weaknesses can create a positive vulnerability. “Beware the person who has no limp” So, stop the introspection and self-loathing. It has no redemptive value. Rejection is not a terminal event. You can feel a little reluctance after losing an account or a new client to a competitor. But your self-worth isn’t your net worth. Your bank account doesn’t define you. And neither does the experience of rejection.
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Most people have a predisposition about risk. It’s generally environmental and based on family upbringing. That doesn’t mean it’s necessarily right, it’s just where you are, depending upon your financial literacy. Whether you know it or not, you ...
Released On: 12/27/2019
Views: 1975
There are mortality averages based on actuarial statistics that can approximate the life expectancy of the general population at large. But “averages” don’t address half of those who will exceed the norms. The more data you put into determining y ...
Released On: 12/26/2019
Views: 1891
For most wage earners and retirees taxes are the biggest expense they’ll ever have over their lifetime. Managing your tax bill effectively is learning to become a “gamer,” by avoiding tax traps and snares along life’s journey. You have to know th ...
Released On: 12/25/2019
Views: 1816
It’s rather stunning to discover that most baby boomers have never had a budget in their life, but they’re going to need one in retirement. Retirement may be the biggest motivator for most Americans to create a budget because retirees live month ...
Released On: 12/24/2019
Views: 1918
Life just happens, but there are predictable events common to most in our culture and most of those events have a financial impact. Planning for those predictable events can prepare you to meet many of these obligations. The life event checklist ...
Released On: 12/23/2019
Views: 2003
The Mortality Revolution may very well be the final frontier in mankind’s quest to beat death. So far, the grim reaper has won every time, but new timelines are emerging in human longevity that are delaying the inevitable. Prepare yourself for l ...
Released On: 12/20/2019
Views: 1810
Living longer is exacerbating over a dozen other retirement risks that threaten the vast majority of retirees and those near retirement. If the status quo continues, the retirement lifestyle of most seniors will be severely pared back. Watch the ...
Released On: 12/19/2019
Views: 1853
Most of the retirement plans currently operational have a significant flaw. They’ve grossly underestimated the increase in life expectancy over the last generation. But government and military pensions are in the greater financial jeopardy, becau ...
Released On: 12/18/2019
Views: 1828
The law of large numbers and changing demographics of life expectancy is having a significant impact on guaranteed lifetime annuities. Annuity manufacturers are touting their alpha with mortality credits and receiving newfound interest among fina ...
Released On: 12/17/2019
Views: 1842
The last 100 years have seen a significant increase in human longevity compared to the earliest records of mankind. The spike in longevity has caught the Western world by surprise. The effects of this revolution are affecting financial planning a ...
Released On: 12/16/2019
Views: 1798
There was a time when Social Security benefits were not exposed to ordinary income taxation. But over the years, small incremental steps were taken to tax the benefits. Maybe “means testing” may be implemented to shore up the vulnerable Social Se ...
Released On: 12/13/2019
Views: 1492
Collateralized loans are not characterized as income and are not reportable, as such, on your 1040 form. And because these loans are not forms of taxable income, they are not counted for the provisional income test for Social Security taxation. W ...
Released On: 12/12/2019
Views: 1956
Retirement, as it is today, is inherently crippled by taxes. You may very well have one million dollars in your retirement plan, but Uncle Sam may own up to 40% of it. Health Savings Accounts (HSA) and Roth IRAs need to be reconsidered as a first ...
Released On: 12/11/2019
Views: 1760
Most American workers don’t comprehend the realities of retirement until they’re a few years from retirement date, which is often too late. They’re just too busy dealing with immediate financial pressures to understand the long-haul consequences ...
Released On: 12/10/2019
Views: 1792
Retirement will undergo a drastic reinvention as the newest generation redefines it's golden years in their investment habits and senior lifestyle goals. https://www.youtube.com/watch?v=RAdtMWBaseY&feature=youtu.be
Released On: 12/9/2019
Views: 1756
Your retirement account is only as big as your tax planning strategy. Your personal exemptions and standard deductions in retirement will not be enough to offset your tax bill. Tax management must be a major component of your retirement plan. Wat ...
Released On: 12/6/2019
Views: 1855
If you have longevity in your family, guaranteed income for life is a must consideration. If you think it’s reasonable that medical advances will impact your longevity, then guaranteed income for life may need to be in your retirement plan. Watch ...
Released On: 12/5/2019
Views: 1716
A happy retirement is based on math and science, not on wishful thinking and hoping things turn out right. You need to eliminate debt and risk in retirement and secure reliable income to generate the peace of mind that seniors desire in their gol ...
Released On: 12/4/2019
Views: 1465