After my son's soccer game on Friday night, in which my son scored the winning goal, Rhonda approached me. Rhonda is NOT a client, but she knows What I do for a living. She exclaimed, "My Freaking husband lost 50, not 50%, and why you blaming him?" Well she said, his Advisor is his best friend and the two of them should have known and moved all our money into cash. Now we are down, what should we do? I tried to defend her husband and advisor, but was not getting anywhere. Rhonda was too emotional. Then she said, "I could just KILL MY husband." So I said, well I have an application in my car for some Life Insurance, if you are going to Kill him, at least get some more Life Insurance. Of course, I was kidding. Then the idea hit me. So Soccer Mom Rhonda, I give you credit for this idea.
Let's use some Math and make a few assumptions. Let's say that before this horrible few months, Rhonda and her husband's portfolio was $600,000 and now it is worth $350,000. If Rhonda's husband does die too soon, then Rhonda will only get 350K, instead of 600K. Let's assume that Rhonda's husband is concerned about this, well not so much for Rhonda, but for their 15 year old son and 13 year old daughter. The husband is my age 51, and in good health. The husband is investing into retirement accounts, $10,000 per year. His projections of early retirement now obviously need to be recalculated, but anyway here are the basic facts. They are down about 250K, they have 2 teenage children. The husband is concerned that if he does die, Rhonda and family will get less money from their portfolio, and he still can invest 10K into his future retirement plan. READY for the JG CREATIVE IDEA ????
The husband only invests $5,000 into his retirement plan, and buys a $250,000 Universal Life that builds cash value. He invests $5,000 per year into this Investment/Insurance product. If he dies too soon, then Rhonda will get the 250K from the Life Insurance and the 350 K from their portfolio, wow back to the original 600K. If he lives, the 350 K in the portfolio will Hopefully grow from the $5,000 of new money he is investing, and the Universal Life's cash value will grow. At age 65, the cash value growth and the Portfolio growth will be very close as if he invested the entire 10K in the original portfolio. So everyone wins, and everyone is happy, just a SMART way to reallocate your future Retirement contributions. There are some tax issues with this strategy as well as a few others, which could make this idea even better or not as good. Each person's numbers will depend on age, health, life insurance needed, and future investment allocations and contributions.
I welcome the opportunity to explore this idea with you to see if we should reallocate your Investment Contributions and/or to review your portfolio to see if any changes at this point makes any sense.
Make it a good week.
Jerry Gross, MBA, CLU, CHFC
Life Insurance Specialist at www.EasyToInsureME.com
Phone 215-944-3079
Fax 215-364-3990
Email easytoinsureme@aol.com
DO IT NOW...RELAX LATER
Poverty Statistics In 2009
The Web 2.0 technology has changed the way we use the internet as consumers and as businesses. Don't get to end of December 2009 to find out you've been paddling upstream or worse still been in a back water whilst your competitors have forged ahead having conversations and gaining customers that could have been yours!
So, to get you started, the must dos are
1. Get a Twitter Account - This is not just a micro-blogging tool but is a phenomenon that is set to take the world by storm. You send and respond to messages (tweets) that can only be up to 140 characters long - now that concentrates the mind.
If your tweets are interesting, then other people will follow you and if you become boring or irritating, then they will stop!
Easy! Well that's the concept! But there is much more to twitter than just that. How you use it to build relationships, talk to people who you previously had no access, listen to what your customers and saying about you and what they want.
You can see, this is certainly powerful - and just like other stuff on the web, it can be abused.
Get a Twitter account, find some people to follow. Promote your twitter account on your website, email account, newsletter etc encouraging people to follow you.
2. Create a Group and Fan Page on Facebook - Facebook has had some ups and downs in 2008. This year will see Facebook be used increasingly for business. With 120m members, and still growing, this is the largest public database!
So far, we have the get rich, live life of your dreams businesses trading there. But, there are huge opportunities to set up a group discussing areas of interest relating to your business.
Use this to demonstrate your expertise and credibility. Build the trust to make the sales. Have clarity in what you will offer and what you want from it.
Set up a fan page when you have a buzz around your company and services. This then positions your company as a separate entity from your personal profile. You can also have other people adding content to the page. A collective eases the pressure.
Advertising on Facebook is relatively cheap. As it uses different rules from Google PPC, your adverts show only when the parameters meet the person.
Develop your vision for Facebook and prepare your content. Create a groups page and/or a fan page. Make it fun and engaging and people will arrive, comment. You will learn, build trust and grow your business.
3. Groups and Networks - Being part of a group will become more important as the cold winds of recession whistle around. Creating communities or forums for respite from the chills helps you to build a following, build credibility and of course sales.
Basic forums are available on CollectiveX and Ning.
Sign up for these. Join existing groups so you can see what works well - by participating you will be making new connections, learning and building credibility. You can set up your group when you develop your own style. These can be for just customers and clients or open to all comers!
4. Information Products - These will continue to grow, partly due to those chilly winds but also we are all suffering from the infoglut and the lack of time.
The successful products in 2009 will take the reader, listener or viewer through simple steps to develop and deliver resolution to their worry, or concern or undertake some sort of learning.
5. Google Applications - Google Reader and Alerts will increasing help us manage the amount of information available.
6. Subjects, Titles, Headings - These become the sorting agents on whether people read or not in 2009. Facing increasing numbers of emails and demands on our attention, we will become increasingly selective in what we read and spend time on. So, a catchy, easy to understand title in less than 35 characters will be necessary to avoid the delete or back key.
Don't just read these and skip to the next article. Each item takes time to set up. They have to be co-ordinated with your existing activities. So, set time aside to work out how, when, and what you will be doing in 2009.
Both Chad Levin & Karen Purves are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Chad Levin has sinced written about articles on various topics from Insurance Quotes, Finances and Health. Jerry Gross, MBA, CLU, CHFCLife Insurance Specialist at www.EasyToInsureME.comPhone 215-944-3079Fax 215-364-3990Email easytoinsureme@aol.com. Chad Levin's top article generates over 8100 views. to your Favourites.
Karen Purves has sinced written about articles on various topics from Sales and Negotiation, Finances and How to Sell on Ebay. Karen Purves runs Have More Clients. Want to know more ways to have more clients? Discover how to use Twitter for marketing with a . Karen Purves's top article generates over 6600 views. to your Favourites.
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