Monday, November 24, 2008

Message from John Addison

Download and listen to John Addison's message that was sent out on Gosolo on November 21, 2008

Main message:
Primerica is separate identity of Citigroup. Whatever happens to Citi has no affect on Primerica. Primerica is a fundamentally strong company and it is destined for greatness.

Saturday, November 22, 2008

Life is short

About a month ago, a client of mine died at the age of 33. She was in perfect health. She had no prior history of any medical conditions. She is married and has 2 kids, age 4 and 11, and have a mortgage to pay. I met this family about 3 years ago. At the time I met her and her husband, she had $52,000 coverage for few years and her husband had no coverage. I'm not sure how that life insurance agent came up with $52,000. Anyway, I replaced her old life insurance policy of $52,000 and gave both of them $250,000 coverage, for a total coverage of $500,000.

If I did not meet this person, her husband would only get $52,000. How long will this $52,000 last? They still have a mortgage to pay, the kids are still very young, and have other bills to pay as well. This $52,000 would probably last at most one year. But with $250,000, this paid off the mortgage and there was still $20,000 left over. With no more mortgage payment, this family is not in a financial mess.

Why I'm writing all this? Its because there are many families out there who don't have life insurance. Those who do have life insurance are very likely not to have adequate coverage. I've been looking at the ACLI 2008 Fact Book and the number of policies being issued and in force has been on a steady decline. But the interesting fact is that the total coverage on individual life insurance policies has been increasing. Even more interesting is that the number of life insurance companies in United States have been declining as well since 1985 (where there were 2261 companies). By end of 2007, there are only 1009 companies left. By the end of 2008, I assume there will be less than 900 companies.

Friday, November 7, 2008

The Environment is our friend

While Barack Obama is picking people for his cabinet, I was thinking he should pick Al Gore to run the Environmental Protection Agency. After all, Al Gore is serious in protecting the environment and I think he would be perfect for the job.

Monday, November 3, 2008

Primerica is not for everyone

For all your Primerica fanatics out there such as myself, you have to accept the fact that the Primerica opportunity is not for everyone. However, everyone who is legally able to work is given a chance to try this business out. If the business didn't work out for the person who joined Primerica, its not because of the company. Its the person himself or herself who made themselves fail. The Primerica's business model works and there's thousands of successful people in Primerica who can back that up. There are many possible reasons why a person would choose to fail in Primerica and I'm going to list some of them:

1) They heard Primerica is a scam and they believed it. Even though they saw the company overview or the opportunity meeting, they go home and tell everyone about it in their own words. Guess what their friends or family are going to hear: "Primerica = life insurance = something FNA = $99 to join." OR they do "research" online and see several forums or blogs saying that Primerica is a scam. Forums or blogs have no true credibility behind them and if you wrote a paper about Primerica and you listed these websites as your reference, your professor will either give you a "F" or make you get better references. I don't even you recommend you listing my blog as a reference, even though I'm a Primerica representative.

2) Their friends and/or family members say they can't do it and so, they make themselves believe they can't do this business. I believe everyone can do this business if they are given the chance. When I started, I was the shy and quiet type. I thought to myself there's no way I can talk to people. Now, you can't shut me up. If my new business associate says he or she can't do it, I would point out the facts. One, they don't have any experience. If you started a new job, were you confident enough to do your job correctly or were you nervous? My solution to this challenge is get the new associate out in the field and witness a presentation. Doing the presentation is simple and easy and once they see how its done, they could see themselves as being able to do it too. I felt confident after witnessing a few presentations done on various clients.

3) The upline didn't stay in frequent contact with their new business associate, so the business associate doesn't see value in this business and feels neglected. Communication is vital in this business. If my upline didn't stay in frequent contact in the beginning, I probably won't be in this business. Today, I'm calling my upline more than he calls me for advice on certain matters.

4) They fail the pre-licensing exam (PFSU) and/or the state exam and thought it was the end of their career. If you were applying for a job that requires a certain license and you fail to get it, you would be fired. In Primerica, this isn't a job. Its your business and it doesn't matter how many times you fail. Its the number of times you succeed that matters.

5) They want instant results, which is not even possible in the real world. Building a business requires patience and time. You can't build a city over night. You need to put effort into this business and have some people help you expand it. The work you put in now, results will come in 2 to 3 months.

6) They didn't go to weekly training. You can't succeed in this business if you don't go to weekly training. Thats like competing at an event and having no clue what to do. If you never played golf before and you never went to practice and you were competing against golf player who did practice, do you think you can actually win?

7) They weren't coachable. Only the person can change him or herself. If they don't want to listen or follow the system, there's nothing anyone can do about it.

8) They won't change themselves to make improvements in their life. There are people in this world who don't like change. They don't like to get out of their comfort zone to make their life better. If you want to improve yourself, you have to make certain sacrifices. For example, if you want to look fit and be healthy, you would go to the gym instead of watching TV. You would eat less junk food like potato chips and more healthy foods such as an apple.

In conclusion, not everyone is going to join Primerica. Everyone who did join Primerica, some of them are not going to stick around long enough to see success. Those who do stick around and continue to fight for their future will see success.

Tomorrow is election day in the United States. On my ballot, I see at least 10 people running for President. In America, every legal citizen of legal age (I believe the legal age is 35) can run for President. Not everyone is going to do it, but they are allow to do so as long as they meet the requirements to be the President. I'm not going to tell you who I'm going to vote for, but I'm going to vote for the person who can lead this country in the right direction.

Thursday, October 23, 2008

Secrets to staying thin

I was reading this article from MSN Health section and it talked about 10 Secrets of the Effortlessly Thin. I've been thin my whole life and some of it is true. Here are the 10 secrets:

1) They don't diet.
This is very true for me. Its not the amount of calories I intake, its the choice of food I eat. Base on several studies I read, most diet plans don't even work. Diet food is one big scam. Even though its less in calories than regular food, people tend to eat twice the amount of it. Since it says "Diet" on it, it makes people feel good to they think they on track to a healthier life style.

2) They keep track of their weight.
I do this about once a year because I'm curious. Year after year since high school, I still weigh the same.

3) They exercise regularly.
Ha! I haven't exercise since high school.

4) They don't solve problems with food.
What they mean by this is that people tend to eat when they are emotional such as being depressed, upset, or angry. I take perspective of problems that arise and figure out what I can do to make the situation better.

5) They stop eating when their full.
This is very true for me. While some people like to finish everything off their plate, I stop when I feel full. Plus, I don't like the feeling of being overly full or "stuffed."

6) They don't surround themselves with temptation.
Is your kitchen surrounded by lots of junk food? Mine isn't. There is some, but not a whole lot.

7) They allow themselves treats.
Mmm... I love chocolate and I do eat a couple pieces of it about 3-4 times a week.

8) They eat breakfast.
I eat breakfast every day, except Sunday. I usually sleep until 11AM on Sundays, which is basically near lunch time. The article state that 80% of successful weight losers eat breakfast every day and within 1 hour of waking up. Your metabolism doesn't start to kick in until you put food into your system.

9) They move, stand, and fidget more.
I never notice this, but realizing what I do every day, I do move and stand often. As for fidgeting, I don't I do that unless I'm nervous.

10) They don't skip meals.
I eat 3 meals a day (except for Sundays). Breakfast around 7AM. Lunch between 12PM to 1PM. Little snack around 5PM. Then dinner around 8PM-9PM. If you don't eat anything for more than 6 hours, you slow down your metabolism.

If you don't know what metabolism mean, it basically means that your body breaks down whatever you eat to create energy. Energy that is vital for your body to function properly.

Sunday, August 17, 2008

If you are traveling to a different country

Don't bring cash, but a credit card. If you do bring cash into a foreign country, make sure you exchange it. I was in Canada the other day and many stores undervalue the price of a US dollar. For example, a product in Canada may cost $2 in Canadian dollars, but if you pay with US dollar, it cost $2.10. I went to McDonalds in Canada with my family and total price in Canadian dollars was $9.56. I didn't have Canadian dollars with me, so I pay with $10 US and my new price was around $9.90. I got a Canadian dime (10 cents) back as my change.

During the week I stayed in Canada, the currency exchange rate was $1 US = $1.10 CAD. So one US dollar is worth $1.10 in Canada.

Anyway, I did use my credit card for many of my purchases. For example, on my receipt from Canada, it says $47.22 (CAD), but on my credit card statement, it says $45.71 (US). If I paid by cash, I would of paid around $50 (US).

Tuesday, July 15, 2008

Its the best time to invest

So you hearing bad news after bad news about the US economy and wondering where to put your money? You heard of IndyMac, the largest bank in California suddenly collapsing and went out of business. You think that your bank is going to do the same. Mortgage crisis is still looming and the housing market isn't that hot. Foreclosures are a common scene in America as more and more people are force to give up their homes because of bad mortgage lending. Oil prices are at an all time high, costing all goods and services to also go up.

Today, the DJIA fell below 11,000 points for the first time in over 2 years. What is an average person such as you and myself to do?

I'm no financial planner or investment advisor, but I would not let fear take control over my decisions. When prices of stock or shares of mutual funds are falling, what is the initial reaction for most people? They think "Oh my god! I'm losing money. I need to sell everything before it goes any lower and put it in the bank or under the mattress." By pulling out of the stock market, you are accepting loss. By not pulling out of the stock market, you are not accepting any losses. You will only realize your gains or losses when you actually sell your shares. Right now, the price per share or stock is low. What are your choices?

Well, this is what I would do. Though, I'm not hinting that you should do what I would do. I'm just saying this is what I would do in time of this crisis and my logical reasoning behind it
1) As a young investor and where retirement is 30 plus years away, I would continue to invest and to buy as many shares I can afford. I know that the stock market will worth more in 30 years than what it is today (base on the past history of the stock market in the past 50 years).

2) If I was a mature adult, say someone in the upper 30's to early 50's, I would still coninue to invest, but making sure my investments are diversified. I still have some time left to save money for retirement, so I wouldn't worry about the stock market conditions.

3) If I was retired, I wouldn't be investing at all. I would be withdrawing money from my investments. But I wouldn't withdraw too much during this time until the market is performing well. So I would watch my spending habits closely. After all, I don't want to outlive my money.

As any investment expert would say (again, I'm no investment expert. I just do what is logical), the best way to lower your risk to market exposure is to follow the 3 D's.
1) Diversify your investments. Don't put all your money into one company or one sector of the economy.
2) Be discipline. Don't let fear take over judgement and logical reasoning.
3) Dollar cost average. Invest on a monthly basis. This is a way to pay yourself first before paying others. By dollar cost averaging, you lower the cost per share you own over the long run.

Guess where I learn all this? From my own personal investment experience and through training at Primerica Financial Services.

Sunday, June 29, 2008

An old message from Art Williams

I got this message in my GoSolo from my RVP the other day and I thought this message was pretty interesting. It may sound retarded to some of you, but the main message is that winners do the things they say the are going to do until the task is done. Some of you say you are going to do something, but you never get to it. It could be as simple as saving for retirement, but you put it off day after day, year after year, and then you finally realize that you are going to retire broke. Are you a winner or a procrastinator? So here's the link to download the message:

So just get to work and finish whatever tasks you say you are going to do.

Saturday, May 10, 2008

Citi or Citigroup is restructuring

I'm not quite sure what is going on with Citi, but I think everything that is happening in that company is coming from several factors. For one, the mortgage mess dropped Citi's stocks from $40-something to $20-something a share. This forced Citi to cut its dividends. Because of the mistake that Citi invested into bad debts (over $40 billion of it), former CEO Charles Prince resigned. The new CEO has no clear vision or he is being really quite about what he has plans for the company. And now, Citi is now doing one big restructuring plan that is worth $400 billion. Despite all this, Citi is still worth over $2 trillion.

About a month ago, Citi sold Citistreet to ING for $900 million. Citistreet is a company that does benefit plans for businesses (both big and small). I see that as good news for it will create large opportunities for Citistreet to grow its organization. Will this affect Primerica? I don't believe so since Primerica still has marketing agreements with Citistreet to offer business retirement plans.

Citi also plans to sell some other companies including Primerica. I believe Primerica is planning to buy itself from Citi. I don't have all the details yet but when it does happen, great things are going to happen to Primerica. For one, Primerica can start selling their company stocks once again. They use to sell their stocks long ago and the value of the stocks doubled every year during the 1990s. Then the company got bought out by Citigroup. Second, Primerica can focus on its own goals. Third, it will create huge opportunity for Primerica to expand its market. Forth, no more oversight of Citigroup looking over Primerica's shoulders and no more sharing of profits with Citigroup too.

Friday, April 18, 2008

Almost had a car accident..

Hmm, red light mean stop, correct? As I was approaching an intersection (my light was green), this stupid truck driver decided to go on the red light. I had to come to a complete stop to let the truck go. Stupid driver! The car behind me almost rear ended me...

Monday, March 31, 2008

Just a thought...

Agents from other companies don't like how Primerica is just randomly recruiting people. The way I see it, any one can be good as any of these so-called financial experts out there. With proper training and education, a Primerica representative can be good as any financial agents out there and ten times better than any life insurance agent. That is the agent does go to training and complete the licensing process. Thats my opinion anyway. When I first started, I knew very little about finances. The only thing I know was bank accounts and some general idea about credit cards. Now I know everything about life insurance, mortgages, mutual funds, annuities, and investment accounts (such as IRAs, 529 plans, Coverdell, custodial accounts, etc.). Things that an average American really don't know too much about.

Anyway, why is that other companies don't recruit the way Primerica recruits? My theory is that other companies don't like sharing profits among their agents. In other companies, there is one agent doing all the work and he/she gets paid a nice commission and the company makes money too. But the problem is that the agent has to constantly work and find clients to make money. Eventually, this agent will either max out his/her time or burn out.

Monday, March 24, 2008

A difference between financial rep and insurance salesman

This is in my own words and is not taken from a dictionary, but base on my experience as a Primerica representative.

A financial representative is someone who takes a look at the client's finances and gathers information for a financial analysis. He/she would look at what areas the client can spend less on so that the client can achieve realistic goals. For example, if a client was spending $1000/year on life insurance and the financial representative can offer life insurance that costs $500/year for the same coverage, that would save the client $500/year or $42/month. If the client was spending $2000/month on debt payments and the financial representative can offer a debt program that would cost $1800/month, that would save the client $200/month. That's an extra $242/month savings. The financial representative would then figure out how the client can use the $242 savings effectively. A portion would be applied toward the debt payment and the rest would be invested in one or more saving vehicles (IRAs, college plans, money markets, etc.) This is what a Primerica representative does for clients. The goal of a financial representative is to help the client increase the net worth over time. A majority of my clients don't spend a penny more after I sit down with them. If they are already spending whatever amount they spend a month, my goal is not to have them spend a penny more. Of course, there are some situations where clients do need to save more money and the client would need to cut spending on certain areas (such as entertainment or cable or magazines subscriptions) in order to reach whatever goals they have.

An insurance salesman is someone who tries to figure out what is the client's income and from there, figure out what the client can afford. The primary purpose of the salesman is to sell the product, even if it's not suitable for that client to buy it. Its even worse when the salesman doesn't even own that product him or herself. Why is that majority of life insurance people that sell whole life or universal life or variable life don't own these products themselves, but own term insurance or no life insurance at all? I tell you why. They know that those products are crappy to own and that term insurance is the best life insurance product out there.

Insurance salesman really don't have the same passion as a financial representative. Insurance people are more focus about the commissions. Financial representatives are more focus on helping the client achieve his or her financial goals.

Friday, March 21, 2008

Life takes Visa..

it sure does! Visa or any credit cards put you into debt. For how long? That's depends on how fast the person pays it off. The way I use credit cards is that I pay off the full balance every month. For many others, people make minimum payment on their cards. So they have a left over balance remaining. You would think that interest will be charged on the remaining balace. That is totally untrue. Companies charge interest on the average daily balance of your credit card. If you borrowed $1000 today and pay $500 of it next month, interest is not calculated on the remaining balance (the $500). It is actually $1000 plus any other new purchases you made with the card.

You can do an internet search, "how is interest calculated on credit cards?" (remove quotation marks when you type or paste it in the search box), to learn more on how companies calculate the interest on your credit cards.

Thursday, March 20, 2008

A little bit of rain....

and the entire highway becomes a nightmare... why is traffic so slow on rainy days? Even when it drizzles, traffic comes to a near stand still.

Wednesday, February 27, 2008

Primerica needs to do more to help people in the mortgage crisis

While other companies and homeowners are struggling with the mortgage mess, Primerica is not doing enough to help families with the mortgage crisis. Despite that the company consolidate debt of almost $9,800 per minute, Primerica is not even making a small dent in the debt problem in America. It is estimated that over $460 billion of adjustable rate mortgages will reset in 2008. That means many people will have to pay more every month to keep up with rising interest rates or face foreclosure. Primerica's clients are not worried about their mortgage being adjusted because Primerica's loans are always fixed-rate 100% of the time.

George Boelcke, FCI wrote an article about the mortgage crisis in the American Chronicle and he wrote, "Primerica has never originated any ARMs with their refinance products (done through Citicorp Trust Bank). Their clients are watching the mortgage crisis from the sidelines and the safely of a fixed-rate term and consolidation, thinking: 'that could have been me in a foreclosure…'" You can read the full story at:

About a month ago, Oriental Financial Group entered into an exclusive mortgage alliance with Primerica Financial Services. Primerica will function as a new distribution channel for Oriental mortgages in Puerto Rico. The primary focus of the effort will be Primerica's long term, fixed-rate mortgages provided by Oriental as a means to consolidate debt at attractive terms. Primerica has approximately 400 full time and 2000 part-time financial representatives in Puerto Rico. (Source: CNN Money Jan 29, 2008).

Primerica is doing something great that is helping families bring back financial stability. The problem is that Primerica's agents needs to do more before more families goes into foreclosures. I wish I can do more, but I can only do so much in such little time. That's why I and many other Primerica's agents recruit. Its to manage our time effectively and get more things done.

Monday, January 21, 2008

FTC comment on Primerica's business opportunity

Check out this 56 page document written by the Federal Trade Commission. Its a .pdf file, so you need adobe acrobat to open this file.

Saturday, January 12, 2008

Primerica Wins Fifth Consecutive Dalbar Award

For the fifth year in a row, Primerica has been awarded the prestigious Dalbar Service Award for top-notch customer service in mutual funds.

Since 1997, Primerica Shareholder Services (PSS) has made its shareholders’ needs a top priority and has focused on becoming a leader in customer service. And now, for the fifth consecutive year, that commitment has been recognized. Dalbar, Inc. is a client service rating organization focused on raising the standards of customer satisfaction and quality in the financial services industry.

Thursday, January 3, 2008

Buy Term and Invest the Difference WORKS

30 years to date, Primerica still stands by its philosophy of "Buy term and invest the difference." As for the rest of the life insurance industry, they just keep changing their approach to the marketplace by creating and re-inventing life insurance policies that don't work.

In 1970s, other life insurance companies were selling whole life insurance.
In 1980s, Universal life insurance was created.
In 1990s, Variable Universal Life was created.
In 2000s, Return of Premium Term Insurance was created and now they are going back to selling whole life insurance again.

Would you put your financial future in the hands of a company lacking a clear direction?

Three decades. One timeless principle. We stand for something!
Primerica has always believed families need affordable protection for today and control over building wealth for tomorrow. Our “Buy Term and Invest the Difference” approach to personal finance puts families in position to achieve their goals in life! We’ve never had to change our approach in the marketplace … because it works!