Your retirement plan - sell your book?

[bekahsack]

I'm curious on what everyone's retirement plan is here, even if it's decades away. When an agent retires, is the obvious option to sell their book? Is there even another option? I suppose passing your business down to your children if they want to be in the industry, but any insight here is welcome.

 

[vic120]

I would probably continue to work my book or maintain it before selling as It seems like the value of a book for sale is generally around 1 year commision, At least thats what I have seen. I might sell if it were 2 year commision.

 

[kgmom219]

Ask me in 10 years, when my son is 27. Option A: pass it to him, but with a long term payout. Option B: Sell it. I'm not going to orphan my clients, even if its 1 year. (Although I usually see 2 year, depending on book.)

I want to be semi-retired by 60. We shall see how that turns out....

 

[thomasm]

I plan to go public! Who wants in?

 

[Chazm]

You can be 75 years old and just work AEP and live off renewals rather easily.

It’s not like what we do is hard work or takes endless hours. Hell sometimes I feel retired and I’m only 38.

 

[LostDollar]

You can be 75 years old and just work AEP and live off renewals rather easily.

It’s not like what we do is hard work or takes endless hours. Hell sometimes I feel retired and I’m only 38.

When I read all the posts about customer service on dental plans and Part D, it sounds like you all work 80 hours a week! And have the mental stress of a Chicago commodities trader!

 

[somarco]

My idea of retiring is spending more time on the forum.

Still growing my business, but at a slower, less hectic pace. Going to invest about $20k this year to smooth out the activity vs concentrated from Sept through Dec. If my plan succeeds I will also generate significantly more qualified prospects which makes my life easier.

If my plan works I can dial back my hours in 3 - 5 years.

But I will never retire, health permitting.

 

[bekahsack]

My idea of retiring is spending more time on the forum.

Still growing my business, but at a slower, less hectic pace. Going to spend about $20k this year to smooth out the activity vs concentrated from Sept through Dec.

Spending $20k on what, might I ask?

 

[sman]

Spending $20k on what, might I ask?

 

[Chazm]

When I read all the posts about customer service on dental plans and Part D, it sounds like you all work 80 hours a week! And have the mental stress of a Chicago commodities trader!

Well if you sell a regular dental plan and make $2/month, your damn well right you don’t want to do any service work. It’s why I won’t sell those.
Part D is only worked during AEP. I may get 2-3 calls a year during non aep, in regards to a med not covered or cost of a med.

But with my telemarketer setting all my appts I run about 10 T65 appts each week now. Which is actually up from before I hired her last April. I usually bunch those appts on Tuesday Wednesday and Thursday. A tiny bit of office work on Monday and Friday’s. So I literally work maybe 25 hours a week.