Need Honest Advise in Regards to Becoming an Agent

[livinwell]

I know you "guys" are probably thanking your god that you aren't married to me!
Winter.... I think you hit the nail... he wants to be out from under this guy that owns the company!
Really, I am okay with his income at his present place going down. We have no debt and could make it, though I might be kicking ans screaming the whole way, on a lot less than what he makes. And his idustry will see a turn around as soon as some big waste is generated! I can hold on for that. I'm just not so sure I can starve for 2-3 years only to see a higher income after of not much more than 100,000 a year.
Thanks again. And y'all can just let this thread die. I think I have the info I was looking for!

 

[DT1970]

I pity your husband.

Being married to such an unappreciative leach, I would replace you with a 20-year-old.

Then, when you're working as a greeter at Walmart, you might remember how foolish your statement was of people who made less than $200,000 per year.

I definitely see a mobile home in your future, lady.

 

[briko3]

If you're 3 hours from Greenville, I'm 3 hours from you. If you need a financial advisor let me know

 

[xrac]

I have three friends who were rather well heeled who went bankrupt or near bankruptcy. In all three cases it was iffy if the wife was going to stick around. One of them didn't. In the other two instances the relationship was damaged and not the same.

Money or the lack of it can bring out the true character of people and define what a relationship is all about. It sounds like your husband may have a golden chain holding him. If he is miserable in his current job are you, as his wife, willing to endure a step down in life style in order for him to be happy in his life? Not just for 2-3 years but what about permanently?

Luke 12:15-Then he said to them, "Watch out! Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions." NIV

 

[wfs]

I think it's all relative. $300,000 is a lot of money to you if you only make $100,000 or $50,000. I can tell you this - I always strive to make more. And this is why my income has doubled every 3 to 4 years. If you are driven, it can be done.

OK... Now back to reality. I do not make $300,000. I won't say he is crazy for wanting to take a chance. In fact, he should do it. But he needs to take calculated risks, not go in head first, especially with State Farm. I have a good friend who is a SF agent and it is very tough.

A better course of action would be for him to start an agency on the side. Work it part time. Here's my gauge. If he can make 50% of his full-time income on a part-time basis, then I say GO FOR IT. There is no reason to start from $0. None.

This will give him a litmus test. Assuming he works 40 hours per week at his full time job, and 20 hours per week selling insurance part time, he will need to work AT LEAST that for the first year just to get his contract with SF. More like 70-80 hrs. And SF can cut him loose at any time. I've seen them do it.

He does not need the "perfect" plan, those do not really exist. What he needs to do is take well thought-out "calculated" risks.

Also, the expenses are minimal when running an office out of your home. Mine are less than $200 per month plus the cost of leads. With SF, you are locked into a lease, must spend around $25000 on office furniture, hire 2 or 3 people, pay their salaries, etc... My friend spends about $7000 - $8000 per month on leads and marketing. Whew!

If he was dead set on going into insurance Full Time, I would tell him NOT to go to State Farm. They have a history of promising the world. Sure, they will lure you in with a $100K first year salary plus expenses, but the odds are stacked against you. Trust me.

It's a good thing you are asking questions. Keep it going.