Millionaire Agents???

[ComeCorrect]

Quick Question: Do millionaire agents really exist? I'm fairly new to the business and was wondering if this was true or simply a myth.

 

[STIBROKER]

I think pajama man is the only one......I know an agent that is 4.5 mill poorer......

 

[Mark]

Quick Question: Do millionaire agents really exist? I'm fairly new to the business and was wondering if this was true or simply a myth.

You need to buy my book. How to make a million dollars by writing a book and getting other agents to believe it and pay you a ton of money. This is how I plan on becoming a millionaire agent. LOL It will teach you how to become a millionaire agent. The book cost 100 dollars with free shipping. The book will teach you how to become a millionaire agent by selling other agents a book teaching them how to become a millionaire agent.

I have found that when an agents starts making big money, they will end up writing a book and making more money from the book then they ever did selling insurance. The book how I made $250,000 in one year, will probley make the guy a million dollars. Smart Huh? Most of the books I read are when they use to sell insurance 20 years ago. LOL

I got off subject, sorry. You can make a good living if you work hard with selling insurance. But you will not make millions. Not unless your write a book. LOL

 

[arnguy]

There are a couple of agents who have posted on here that claimed to be in that category but I cannot remember their user names right now.

 

[SportsNut]

Quick Question: Do millionaire agents really exist? I'm fairly new to the business and was wondering if this was true or simply a myth.

The best way to become a millionaire agent, is to start with two million... Joke modified from stock option investing... but it works for any profession.

Shoudn't be a problem becoming a millionaire as an agent, since the profession affords the oppty to earn a high income, and disposable investment income.

Since this is of concern to you, I recommend that you read "The Millionaire Next Door" What the book illustrates is that the TMND is not who you think they are... the outward high flyer, but that they are often the person driving the 6 yr old auto, living in a modest home, with investments that you don't know about or see, etc...

The main points of this are:

1) Spend less than you earn
2) Avoid buying status objects (expensive cars, big houses, jewelry, trips, extended credit purchases)
3) Be a PAW (proidigious accumulator of wealth), not a UAW (under accumulator of wealth), or an AAW (avg accumulator of wealth)
4. UAW often provide economic outpatient care for their adult children to bolster the childrens lifestyle that they are not earning.

And the vehicle to implement the above can easily be a fruitful insurance career. Many successful agents make 6 figure incomes, and not uncommon for the first number to be other than a 1.

 

[the producer]

Millionaire agents are a dime a dozen especially if your are an independant like myself. All you need to do is get a website up and running then start a few blogs and maybe a informative video on youtube and a facebook page and presto the money will roll in...

 

[stormtracker]

Quick Question: Do millionaire agents really exist? I'm fairly new to the business and was wondering if this was true or simply a myth.

Every recruiting agent, or sales manager, that I've ever met USED to be a millionaire. Now, they are all putting together their newest agency and would love for me to be in on the "ground floor." Bottom dollar boils down to you, not them. It's what's in your heart.

 

[xrac]

Quick Question: Do millionaire agents really exist? I'm fairly new to the business and was wondering if this was true or simply a myth.

Yes they exisit but they all work for Mega or Aflac!

 

[Crabcake Johnny]

The only way to make a million as an agent is to answer one of these ads:


HOLY S**T! THIS IS WHAT OUR TOP PRODUCER MADE LAST WEEK! TO TAKE PART IN OUR INCREDIBLE OPPORTUNITY YOU MUST SIGN UP BY TODAY! WE ONLY HAVE PLACES FOR 3 MORE LUCKY AGENTS!

 

[SportsNut]

I think 99% Millionaire agents, are agency owners.

Think about it to make a million in health insurance, you'd have to write $4 million in annualized premium in one year to gross one million. And that's gross not net. That's about 80 to 85k AV each week if you work 48 weeks a year... Or about 25 Issued and Placed Apps a week.

MattyB:

You are thinking like an employee, not a business owner and investor. Don't take offense here, as I am not being critical but offering some insight as to how it is done... I have been investing for many years, some good, some great and some not as good... But crossing te finish line of financial independence is not about working your way to wealth and having that income come from your work, but from passive investments.

Lets say that one makes 150K yr, and invests 3K per month... of course one could invest more, but lets just use that number, as it is doable. Those funds invested systematically at a 10% compounded rate of return will produce an acct value of 1mil in 161 months; so 13.5 yrs. If you want to get there sooner then you need either more capital invested or a higher rate of return... e.g. @ 12% compouned, it will only take 12.5 yrs. When you work hard, invest consistently, the years do seem to get away from you, so a dozen or so years is NOT that long.

Passive investments also diversifies away from where you earn your daily income. This leverages your time since you can't effectively produce 100K av per week in prem... you find othe ways of making that capital grow, which is also working for you when your time is absorbed doing other things...

One more point... think about throwing a stone into a pond... the ring grows and grows. One little pebble made all that impact in the water. Passive investing is much the same way... you throw in a pebble and it grows and grows... and you keep throwing in pebbles... An old saying in the investment biz is, "It is not as much about the rate of return, but the rate of investment" In other words, keep throwing pebbles and watch the ring in the water.