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: http://www.supload.com/sound_confirm.php?get=1150207308.wav
So just get to work and finish whatever tasks you say you are going to do.
Sunday, June 29, 2008
Monday, June 23, 2008
Monday, June 9, 2008
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.
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.
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.
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.
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