Sixteen years in Medicare I have more disposable income than I ever did when I worked.
Does anyone really get "rich" selling Medicare
- Thread starter newbie2001
- Start date
Many of us on here just simply stuck with it and kept selling, year in and year out.
I know a few other agents in the 1,000+ client bracket who do not have an office or full time admin. I didn't have an in office admin until I was over a thousand active clients. And sometimes I regret having one.
My living expenses are extremely reasonable. Bought less house than I qualified for. Drive a 2011 car.
I do regret a few expenses I have and sometimes I do wonder "where is all the profit??" (Ahem, Taxes). But at the end of the day I've also already been able to buy 6 rentals, JV'd on 2 small multi families, and put $ into a few other things.
If an agent does it right, gets to 800+, he/she can both make good money, have excess to invest, and have some free time to enjoy it.
I think that's pretty rich and beats driving the truck for UPS.
I know a few other agents in the 1,000+ client bracket who do not have an office or full time admin. I didn't have an in office admin until I was over a thousand active clients. And sometimes I regret having one.
My living expenses are extremely reasonable. Bought less house than I qualified for. Drive a 2011 car.
I do regret a few expenses I have and sometimes I do wonder "where is all the profit??" (Ahem, Taxes). But at the end of the day I've also already been able to buy 6 rentals, JV'd on 2 small multi families, and put $ into a few other things.
If an agent does it right, gets to 800+, he/she can both make good money, have excess to invest, and have some free time to enjoy it.
I think that's pretty rich and beats driving the truck for UPS.
First of all the op scoffing at $300 k is funny . I’ve built a substantial book in 3 1/2 yrs . Throw in 100 hospital policys a yr and 100- 150 fe policys a yr and that puts me in rarified income air . I’m at my limit for handling anymore Medicare by myself . But I agree with what Hockey said . If I had to start over I’d have gone full blast into aca . The service work is 1/10 th mapd . If you get a big lead source you can write 200-400 lives a month . One thing the op is right on . Keeping your book this aep will be very challenging . But if when you started Medicare you started writing 20-30 mapd a month you’d have basically had most of your marketing paid for . This yr I’m going to mix annuities in . Nobody knows the future of Medicare or aca
- Thread starter
- #14
newbie2001
Super Genius
- 155
Hey Don, think you may have misread my post, “Now while $300,000 is nothing to scoff at it takes a lot of time and resources to even reach that 1,000 client mark in the first place.”
I have a few ACA clients here and there but mainly were warm market or spouses of Medicare clients who are taking SS early
And I fully recognize that this is "small" for some who've built agencies and big organizations.
I still don't want that. I've thought about it and it still just doesn't seem like the route I want to pursue. I like some flexibility - but more importantly, I don't think I want the stress...
Many ? I bet not more than .5% single writing brokers make $500 k a yr
InsuranceGuy29
Guru
- 783
Depends on what your version of "rich" is. Can you make a nice comfortable living? Yes..absolutely....although, much more so before the Biden administration and this absolutely INSANE inflation and policies that are handcuffing of all things insurance.
Is this a get rich quick scheme? Uh, no...absolutely not. It takes brains, balls, insane perseverance, and a lot of effort to get the ball rolling and to start making good money.
My first 4 years were filled with tons of setbacks because this field is very difficult with many rules, laws, tricks, turns, and "gotchas!" in the industry.
You have to be good at learning from your mistakes and you just need to keep going, no matter what happens. Overall, I don't think most people in society have what it takes to own their own small business and be successful at it, but can it be done? Absolutely.
It's one of the reasons I love this forum. There's not many of us, because this field is very difficult, and we're all here to help each other.
Is this a get rich quick scheme? Uh, no...absolutely not. It takes brains, balls, insane perseverance, and a lot of effort to get the ball rolling and to start making good money.
My first 4 years were filled with tons of setbacks because this field is very difficult with many rules, laws, tricks, turns, and "gotchas!" in the industry.
You have to be good at learning from your mistakes and you just need to keep going, no matter what happens. Overall, I don't think most people in society have what it takes to own their own small business and be successful at it, but can it be done? Absolutely.
It's one of the reasons I love this forum. There's not many of us, because this field is very difficult, and we're all here to help each other.
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T Sparks
Guru
- 384
I am actually proud of them, because for one I certainly understands how tough this business is as an independent producer to achieve the 300K per yr mark.
