How much cash should I have to start?

[WinoBlues]

something I notice when reading these types of questions is they never seem to give more pertinent info. Such as:

How many dependents do you have?
Are you the sole or primary income earner?
Does your spouse have a steady income with medical benefits?
Do you have a mortgage or rent payment?
Car payments?

I had a real estate buddy that started insurance part-time and it was a breeze. Bought all of the best leads and instantly started writing bigger cases with friends and family. The wife was a senior traveling RN and made bank, No kids, her parents left them a house on a couple of acres, and his parents were very well connected. So in his case, he didn't need any money to start.

 

[Spin]

something I notice when reading these types of questions is they never seem to give more pertinent info. Such as:

How many dependents do you have?
Are you the sole or primary income earner?
Does your spouse have a steady income with medical benefits?
Do you have a mortgage or rent payment?
Car payments?

I had a real estate buddy that started insurance part-time and it was a breeze. Bought all of the best leads and instantly started writing bigger cases with friends and family. The wife was a senior traveling RN and made bank, No kids, her parents left them a house on a couple of acres, and his parents were very well connected. So in his case, he didn't need any money to start.

No dependents, no spouse, sole income earner, no mortgage or rent payment, no credit card or student loan debt, motorcycle is paid off.

 

[Ksutton]

No dependents, no spouse, sole income earner, no mortgage or rent payment, no credit card or student loan debt, motorcycle is paid off.

Financially, you seem to be in a good spot. Why do you want to start in Final Expense life insurance?

 

[Spin]

I believe in the product, and I like the idea of being able to buy leads and meet with clients.

 

[somarco]

For just a few grand you could buy a decent car. Doesn't matter how old as long as it looks and runs good

I went through a period where my credit was trash and I paid cash for high mileage cars. Volvo 240 with 150k miles lasted almost 2 years before throwing a rod . . . went to a Saturn that only lasted 4 months before it died on the road . . . by then my credit improved and I got a newer Nissan with only 50k miles.

I think I paid about $2k each for the Volvo and Saturn.

 

[Ksutton]

I believe in the product, and I like the idea of being able to buy leads and meet with clients.

You may consider doing a ride along with a local agent (talk with a local IMO or someone who has agents near you) and check out what everything is like. I'd recommend, if you are able, do a few ride alongs and sit down in the homes with the experienced agent to understand the process more.

 

[Life Hawk]

You may consider doing a ride along with a local agent (talk with a local IMO or someone who has agents near you) and check out what everything is like. I'd recommend, if you are able, do a few ride alongs and sit down in the homes with the experienced agent to understand the process more.

Agree 100%.

Everything is an idea until it's put into practice. Putting it in to practice often reveals if it is a good idea (fit) or not.

Was followed by would be agents in
the past... how often after leaving a home you would get the deer in the head lights look from them.

Sales is a great idea, until you have to put it into practice... rubber meeting the road.

This by no means to discourage. But I really get niffed when a recruiter drags someone through a process they know is nor ment for that person.

 

[rousemark]

I am willing to bet most agents did not have $10K in the bank when they started. I know I didn't. Had maybe a weeks pay in the bank, a wife, 2 kids. Soon after 3 kids. Wife worked a minimum wage job and we had to pay a babysitter out of that. Makes you hit the ground running.

 

[WinoBlues]

Agree 100%.

Everything is an idea until it's put into practice. Putting it in to practice often reveals if it is a good idea (fit) or not.

Was followed by would be agents in
the past... how often after leaving a home you would get the deer in the head lights look from them.

Sales is a great idea, until you have to put it into practice... rubber meeting the road.

This by no means to discourage. But I really get niffed when a recruiter drags someone through a process they know is nor ment for that person.

Google Image Result for https://i.pinimg.com/originals/f5/67/01/f5670150009d7080c86efc116960557a.jpg

 

[WinoBlues]

I am willing to bet most agents did not have $10K in the bank when they started. I know I didn't. Had maybe a weeks pay in the bank, a wife, 2 kids. Soon after 3 kids. Wife worked a minimum wage job and we had to pay a babysitter out of that. Makes you hit the ground running.

Yup.

Let a construction job in ag basted area, moved 3 hours away to SF Bay Area, borrowed my mom's Marvin's card to buy two polyester suits and slept behind my buddy's couch for a couple of months. Divorce and child support.