Millionaire Agents???

[SportsNut]

Do you know how much it takes in returns to recover a 50% loss? (This is a test!)

200%

Ain't nothing to it.... (that is getting the answer right on the test.... returning 200% is a heap more difficult, maybe impossible for a while.. unless you short bank stocks... that is it, short the KBW index)

 

[retread]

200%

Ain't nothing to it.... (that is getting the answer right on the test.... returning 200% is a heap more difficult, maybe impossible for a while.. unless you short bank stocks... that is it, short the KBW index)

Actually, it is 100%. Still, it is impossible with the market. You have to put in extra funds over and above any market return to have any success. Where is that going to come from? Sales or salary.

 

[Crabcake Johnny]

I'm dying broke. No - seriously. I save enough to offset some kind downturn and will continue saving.

However, the concept that I save, save, save and save for "retirement" to me is a myth.

The question is this: do I take the 15K grand trip to Europe or save it for retirement? The answer for me is take the trip. Tomorrow is promised to no one and the theory that I'll retire at some magic age, then take that trip to Europe doesn't pay out for me.

 

[wildcat]

The agents I personally know who are hugely successful are either going through a ton of leads (call mill) or have worked a combo of group and Ind with a very high retention rate. And the groups tend to be larger (20 - 50) rather than a whole bunch of small group plans (under 5).

Overhead is also pretty low for the above mentioned.

For this business to work for me in the long run, my retention has to be strong. My group plans have always been very loyal, with high renewal rate, along with Med Supp's. My IND book I wish was better. I don't know if that is because of me, or simply the nature of the IND health business. Maybe a combo of both.

 

[stormtracker]

Most Americans totally avoided the stock market failures, and such, by virtue of one tightly held secret: they never had any money to invest in the first place... I would hazard to guess those accounted for the 90% of Americans who lost nothing. So, by the widely accepted accounting methods of Enron and Obama, could it be said that they actually outgained all the investors? The poor beat the rich at their own game? This is Obamanomics...

 

[1manshow]

Obamanomics...

You mind if I use your word ??


​

 

[ABC]

Yes there are but not many.

I have met a few. They all own their own agency.
There are the agents that do nothing but large cases where the average commish is $100,000. The others has agencies that have many agents working for them. So with one client they can sell multiple policies.

The guys that make it to that level all have one thing in common. They employ good people around them and compensate them.

I have seen a lot of agents get to a level and then coast. If your making $150,000 and can maintain that without working too hard a lot of guys will just chill.

Here is the other thing I have recently witnessed. If your agency is knocking down big commission in that $1 mill + range here comes a larger agency that will buy you out. It easier for a larger agency to buy a smaller one that actually put the effort in increasing their business. At least it was.

 

[stormtracker]

You mind if I use your word ??​

Of course, it was bound to get started somewhere...

 

[Alston]

A moderately successful agent could amass a million in 10 or 20 years by being disciplined about investing.

I don't think that it takes a superstar agent. Just a good one with superstar discipline (and a like-minded spouse).

 

[the producer]

I know a couple Billionaire agents