Hector Lamarque 2024

The speaker discusses the potential of changing one's life if they have financial freedom and the importance of taking action and applying knowledge. They emphasize the power of closing in sales and recruiting, and how it can lead to success and confidence. The speaker shares their personal experience of overcoming shyness and learning how to sell professionally. They stress the importance of self-confidence and continuous personal development. The goal is to attract and help more people, and to constantly strive for growth and improvement. I have a question for you. What would your life look like if money weren't an issue, if all your expenses were covered and you had money left over every month? I want you to think about that. I want you to think about, you're in a place today, the information we're going to share with you today is, has a potential, has a potential to change your life. You're the, you're the, oh thank you, you're the, you're the key to that. I mean, you're going to decide whether you're going to take this information, you're going to study it over and over and over again, and then apply it as you go forward. Learning something is not good enough. It's the application of that thing that you learn that really makes the difference. And what's really exciting is that a lot of you are going to do that. What's kind of sad to me is a lot of you won't do it. I wish you would. One of the greatest things about Primerica, one of the greatest things about life that I've experienced is that I know every single last one of you can become hugely successful if you really wanted to. The reality is, not everybody is willing to do the work to make that happen. That's just the way it is. I think if you go through your Primerica life and you have that belief that everyone can succeed, but also simultaneously understand that everybody will so that you don't get depressed because everybody doesn't do what they need to do. I know you can, and I know some won't. But I also know some will. And those are the people that I am here for. The whole point of this event is for you to go out of here, you take this information and you apply it. I know it works. There's nothing that you can't do if you do the work to master it. So why today? Why did I decide to do this? Well, in my career, the single most important skill I developed was learning how to close. By far that was it. Even in the ministry, you have to close people on coming to God. You've got to close them coming to the church. You've got to close them to keep coming back to the church. You've got to close them on taking part in the ministry that you have. You're always closing. There's no time when you're not closing. In our business, there's no time when you're not closing. Everything about everything is closing. If you have a spouse, a partner, you close them on you. If you have a spouse or partner, you're going to decide where you're going to go on vacation. One of you, whoever the best salesperson is, is going to decide where you go on vacation. The best salesperson is going to decide where you go out to dinner tonight. They're going to decide what movie you see. They're going to decide where you live. They're going to decide. Whoever is the best closer is always going to get what they want. You need to look at that as a positive, not a negative. As long as you're moving people towards what's good for them. One of the things that professional sales is really about is helping people solve issues, solve problems, solve challenges in their life. That's the whole point of being a professional. If you're not doing that, you're not a pro. One of the great things, a good friend of mine, Dr. Robert Anthony, wrote tons of books. He's kind of a prolific writer. He said to me one time we were having dinner and he said, money flows to those people who solve other people's most pressing problems. Money flows to those people who solve other people's most pressing problems. What's more pressing than financial issues? Most everybody's having some sort of financial issue in this world today. If you involved in Primerica have the solution to those problems for those people, you can change their lives. You have the ability to literally change people's lives if they follow your advice. You do, which is very exciting. Instead of thinking about how much money could make or who could I recruit so I could win a contest, you should be thinking about how can I help more people. If you do that, the money will come. My experience is most people in Primerica are chasing money when they should be chasing being great at what they do and helping people. That should be your total focus. If you have that focus, it's a never ending. I mean, it's like a purpose. It's never ends. There's no limit to how many people you tell how how how big you can get. It's just limitless. Look, so learning how to close for me. I'm an introvert and shy by nature. I grew up. I'm very shy and not so much today like I was before, but but even today I still kind of lean towards that. I'm the kind of person when I was growing up. If I was walking down the mall and I saw you coming towards me and I knew you, I would duck into the store to avoid talking to you. Okay, because I just didn't know what to say. I felt embarrassed. That's how I was. I was really, really shy. And so everything about selling and recruiting for me was very difficult. It was not easy for me. And I don't like rejection. You know, I hated rejection. So I figured this is what I figured. I don't like rejection. You know, everybody hates rejection. I hate a rejection. So I figured if I learned how to sell professionally, right, I would minimize the rejection I would get. And I was 100% right about that. So I got really great. I listened to Tom Hopkins, how to master the art of selling audio program. 12 CDs. He's heard me say this many, many times, right? I listened to that program, at least two hours a day for three straight years. I did never listen. I never, I stopped listening to the radio. I didn't listen to the music. I only listened to that program for three years. I got to the point where it was so easy for me to close people, to overcome objections, to, you know, get people to say yes to set appointments to do all that stuff. And the business was never because of that work that I did building my primary business was never difficult for me. It just wasn't. It was actually really pretty easy, but had I not done that work, I never, that never would have happened. It was me doing the work that allowed that to happen, because what happens, I was talking to Manny just a sec, a little while earlier today, people are attracted to self-confidence. Your level of self-confidence is going to determine who and how many people you attract to you. The challenge of self-confidence. It comes with a price. You have to do the work. You have to do the study. You have to do the do what you need to do to learn the stuff so that you get confident. You know, one of the things the pastor was just up here talking. Do you think he's confident about what he does? My God is unbelievably confident. He knows that he knows that he knows what he's doing is the right thing. And the message is the right thing. And the message can change people's lives. There's no, there's no, I'm watching him. And I said, there's complete, total confidence. He doesn't know all of you people. He's, this is, this is not his congregation. He's talking to a bunch of strangers, but you know what? I got excited listening to him. And I know I could see why he's built such a huge church and why he's helping so many people because he is, he's attracting people like crazy to who he is. Well, you've got to think about that. Who are you? What's attractive about you? Why should people want to be involved with you? You see, if you want to have people like you, like those of you that have meetings, you want people coming back to your meetings. You got to create a value gap. One of the reasons that I'm such a fanatic about personal, personal development is because my goal is to continuously keep a gap between me and Rick or me and Kurt or me and Chris. I want to have a gap there, that gap where, where you say, I need to stay connected to Hector because he can offer me information and stuff that I need so I could go to the next level. That that's, that's why you should follow me on Twitter. I'm on at Hector Lamarck on Twitter. I put out personal development, positive information every day. I don't do anything but that. That's all that is. I, and I do it every day. And all I'm doing is sharing things that I'm studying that I'm reading. I'm reading that stuff. So you could get a dose of the right thinking every day, just by, by following me on Twitter. Every day I send them out. There's no day that seven days a week. First thing I do when I get up, I'm reading what, you know, that kind of information and then I'm sharing it. Okay. I want to keep growing. I had, I had this thinking when I was starting to, I, I'm at a certain level of, of, of where I want to be, right? This is a long time ago. If I continuously develop myself a year, five years, 10 years, 20 years, how my, I had a challenge to myself. How good could I get? How good can I get? And, and the better you get, the easier it is for everything to happen. Then that, so you have to have, be relentless about that. I don't think I see people in our business where they start having success and they may make a hundred thousand dollars or 200,000 or 300,000. And then I could see that, you know, like you were talking to Mark about how you, when you hear people talk, you can tell where they're at and what they're going to do and whether they're going to do it or not. And you can tell that as soon as I hear you talk, I know, and I can tell you're not working on yourself. I can tell immediately by the way you speak, the questions you ask, right? What you focus on, why you are exactly why you are. You got to keep growing. You, this is the most important thing. The whole point of today is to grow. You grow your team. A lot of this stuff is going to be for you that have been around a lot. You've seen this before, but you know what you need to be reminded and you need to see my, my goal here was to show you how I developed the people in my business, which group, which has grown to a substantial size day that this is how I did it. Okay. So, uh, so basically I'm going to, we're going to show you how I trained people. That's what I did. This is what today, all you, all, everything you see in here, you can learn to do everything you're going to see today. You can learn how to do this. And the key to this is thinking about not just learning it, mastering it, and then teaching it and sharing it with your team, sharing it with other people, master it, then teach it. That's, that's what this, this whole meeting is about today. That's why we're not, this is not a motivational meeting. We're not, I'm not trying to be, there's not any really any recognition. That's not what this is today's about. Today's about getting down and dirty about what you need to do to be successful in our business and what you need to teach people to be successful in our business. Okay. So, um, I'm excited that you're here. I, I'm, I guess maybe we should do this again. Right? I mean, maybe we should do this again. Right? Okay. So that's what we're going to do. We're going to do this again. We're going to make it even better. This is going to be really good. This is our test pilot thing today. The next one we do is going to be even better than this one. I guarantee you. And what's going to happen is we're going to train an army of people that are fantastic at the business that know how to make money. Because the reason you guys have revolving doors in your businesses where you recruit people, they come in and then they leave, they come in and they leave. And the only way to retain people in our business is you got to add tons of value and you have to teach them how to make money. Right? I was, I was, I was talking to Chuck or, or, and I get at the earlier, I said, look, Chuck, the, when I was building my business, especially the first 10 years, I, my average for every recruit for one recruits in my business for, for at least 10 years, I averaged five life transactions. Okay. In 1988, my biggest, my biggest Bay shop year I ever had, I rec, I recruited average 32 recruits a month and 153 life sales a month in my Bay shop. Okay. And on top of that, I averaged 60% recruit to code ratio. So for every rec, every first, if I recruited 10 people, we got six people licensed. Today, that ratio is somewhere being 15 and, and in 20 or 25% at best. Okay. And the reason it's so low, the reason why there's not a higher recruit to, to recruit to licensing ratio is because there's not the proper training that's taken place. So what happens when I would recruit somebody, if I recruit, I've been like a, I recruited Gary McCrummon, for example. Okay. I feel trained Gary. I, I, we probably went on 20 to 25 appointments and I closed 18, probably close to 20 transactions with him. By the time he was finished training, he knew exactly what to do, right. And how to do it. You can't train somebody when they go on one or two or three appointments, it's no way you're going to teach them how to do the business on two or three appointments. It's never going to happen. They're never going to be good enough. They're not going to be confident. They're not going to know what to do. You have to go on a lot more. So what I would do with the new recruit is I would say, I'd say, Kurt, okay, listen, you're getting started. All right. You're excited about the business. I need to get a commitment from you today that you're going to go on 10 to 20 appointments so that I can teach you by the time you go on 10 or 20 appointments, you're going to have seen so many different situations. You're going to really understand the presentation backwards and forwards. You're going to have, you're going to see me answer the questions. You're going to see a lot of different things so that by the time you get licensed, right, you're going to be totally ready to go on your own. In fact, you're not only going to be ready to go on your own, you're going to be ready to train people and you're going to be able to take off and you're not going to need me right there by your side. You're going to be able to, you're going to be free to just go build it. Okay. But if you go on two or three, it's not going to happen. So if you're not willing to go on 10 to 20 appointments, there's probably no reason for you even to get started because you're not going to do, you're not going to do well. So now most of you would never say that somebody, cause you'd be afraid that you would blow them away. But the reality is the right people are going to do that. And if you did that, Danny, if you did that with every new person, imagine if you could get them to go on. The reason people don't get by the time we've already gone on those appointments and we've closed 10 or 15 transactions, I've recruited five or six people for him. He's, he can't wait to get his license because he knows it works. The problem, why most people who get licensed, they don't really believe it works because they haven't seen the results to prove it to them that it works. That's how we got those kinds of recruit to code ratios. You've got to be able to do that. It's not just about recruiting, recruiting, recruiting, recruiting is critically important. Don't get me wrong. Okay. But it's really in the development of the people that's going to make it's what's allowed me to build this business that I have today. And you, how you guys rarely see me, right? As Santy, right. They probably hate the fact that I don't go to anything in the company or I'm sure they don't like that. Okay. But I don't care. Okay. I've been, I've been training salespeople since 1979. Okay. I've trained tens and tens of thousands of people since 1979. So, uh, my whole goal in building a Primerica business was be completely debt-free and financially independent. And I've been that way a very long time, actually, since 1988, I have not had to work for money since 1988. Okay. I was debt-free and financing. So that, that the key is that allows you to have a, an enormous amount of freedom. Okay. I, you have a vehicle at your disposal that can allow a level of freedom that very, very, very few people experience in this life. Okay. That's what you have to look at. This is not this little part, you know, people say, Oh, it's a little part-time. It's not a little part-time thing. It's huge. And you can have a huge impact on people. What I'd like to see is all of you having these kinds of meeting like this, that you're running, not that I'm running, but that you're running. That's what I want to see, right? That's the point of this is the key to leadership is equipping your people. You've got to equip them. That's what this whole day is about. And, uh, so let me, let me, um, I don't know how this thing works. All right. All right. So, all right. Let me go back real quick. If you apply what we're going to teach today and you master it, this is what can happen. All right. These are my numbers, uh, for the last 12 months. We, in my organization, recruited 33,650 people for the last 12 months. We, uh, we did 47, almost 47 million dollars in life premium, 261,000 initial securities, a total of 397 total. Right now we have assets under management of two, almost 3 billion. I believe by the end of this year, it could be maybe 4 billion. Okay. And then, uh, career cash is total at my average. I average about $250,000 a month and I haven't been to my office and it more than a couple of times a year for almost, um, 14 years. Okay. That's because of all so many equip people and then cash lifetime cashflow, 76 million. I don't know. I don't know what it's going to be when I'm done. It doesn't really matter at this point, but instead of looking at that and being impressed, you should be looking at it and going, that's the potential. That's what I could do if I really get good at this thing. Yes, that's what you, and I want you to imagine what would your life be like if it, if your business looked like that. Thank you very much. Um, right. Okay. Okay. The number one financial concern is the consumer has is their financial challenges, right? That everybody has problems. Very few people are in great shape. So 78% of full-time workers live paycheck to paycheck. CNN, the average household, and this is really something that Chris Howard shared this, this information with you is from Chris. Chris came up with this stuff. Look, it was 2000. The average house was 52,000 in 2018. It's 53,000 with 3% cost of living increase. It should be 85,000. That's $32,000. So the average family out there over the last, well, how many years is that? It's a lot of years, 18 years. They're basically behind where they were when they started 18 years ago. There's a big show. Would you, if knowing this, do you think people need an opportunity? Absolutely. Right. But, so this is a great question. So like, if this is your situation, you're sitting down with somebody, you say, would $2,500 per month, extra income be important to your family? If I were able to show you how you could earn an extra $2,500 a month, get completely debt-free and get completely financially independent over the next X number of years, can you think of any reason you wouldn't explore that or get started at doing that? You need to ask questions like that. If you show information, you need to tie them. That's called a tie down. You're tying them down. That's what you should be doing. Asking those questions. Because what you're looking for, look, I'm looking for people that are looking for me. I'm looking for motivated people. I'm not trying to talk you into doing this. I'm trying to find somebody who's motivated. For the first three years in my business, I wanted everybody to succeed. I worked my tail off to help everybody. You know what I found out? Everybody's not that motivated. Some people are and some people aren't. And so when I stopped working with the people that are unmotivated and I paid all my attention to the people that are motivated, my first year I made $18,000. My second year I made $35,000 in Prime America. My third year, when I figured this out, I started to do that. I made $86,000. The next year my income jumped to $409,000. And then the next year my income jumped to $855,000 because I started working with motivated people as opposed to trying to motivate people. Right? Like you're here, a lot of you made big efforts. I mean, Sam brought 40 people all the way from Georgia, right? We have a couple from Wisconsin I just met earlier, right? I forgot their name already, but yeah. So yeah, they're over here. People are coming. You guys made sacrifices. Some of you come from all over the place to be here today. What that tells me is you're motivated. So I don't need to motivate you anymore. What I need to do is equip you to go out and do what you've done. One of the problems I see in a lot of Prime America meetings, there's so much motivation and you've got a million dollar earner up front telling you what kind of car he drives, what kind of house he lives in, all that stuff. You ever hear me talking about that? Never. I don't talk about that because that doesn't do you. You're not going to live in my house and I ain't going to let you drive my car and I ain't going to give you my money, right? I'm not going to do that. If people are coming, they're saying they're motivated. Well, then I know I need to equip them. What they want to know is, wow, you do that? You've done that? Could you teach me how you did that? Not could you tell me what kind of vacation you take? I don't care about your vacation, okay? I want to know what you did and how you did it so I can do what you did. Teach them. Look at that. 300 million plus population in the U.S. This is from the Social Security. 38% of American workers make less than 20. 51% less than 30. 52% less than 40. And 71% make less than $50,000 a year, folks. That's as individuals, not family, but individuals. So is there a need for an opportunity? Okay, so you need to share that opportunity with everybody. Don't worry if they say yes or no. All we're looking for is people who are looking for you, right? You don't need to talk them into it. If you ask them the questions, right? Yeah. If I could show you how to double or triple your income, would you be open to that? Would that be something you'd be open to looking more closely at? That's all. Just ask. If they say no, then next. Get an appointment with them. Go help them do an F&A and get them on the right track. But otherwise, don't be wasting time, okay? Cost of living from 88 to 2,000. And over the last 30 years, a new house in 88 cost 91,000. Now it's 350. It's up 380%. A car went from 10 to 36, up 350. A movie ticket went from 350 to $9. Look, that's huge, right? People aren't keeping up. If you want to make more money, there's four ways to do it, right? You can get a part-time job and it's a great way to start. Prime America is a great part-time business, right? I got a guy that's here today and he's been part-time for a long time. Makes about $30,000 a year part-time. He's a schoolteacher, right? Should be an RVP. He's got to be an RVP. Actually we already talked about that. But hey, that's great, right? There's nothing wrong with that. Get another job. Hire a paying job, right, if you can. You can go back to school. One of the things I was going to do before I started Prime America, I was thinking of going back. I have a degree in psychology and I was going to be a clinical psychologist and I started working with young kids earlier in my life and I would work with them for one hour a week and they came from dysfunctional families and then they'd come back at the next week and it would be just the same. You can't fix somebody in an hour a week, right? It's impossible. I saw that and so I just decided I didn't want to do that. I got into the sales business but then I was doing well and I was making about $50,000, $55,000 a year before I got Prime America, which today would probably be like $125,000 or $150,000. Back then that was a long time ago and I figured if I went back to school and got my MBA, I could potentially get a higher paying job, but that would take going to night school. I'd have my job and all that stuff and so instead I found Prime America and the way I looked at Prime America, I looked at it like going back and getting my MBA or getting my PhD. That's how I thought about it. I said, look, if I go back, I could do this with this Prime America business. I could learn how to do it. If I get really good at it, if I get straight A's while I'm learning it, you know what I mean? If I really focus and study like crazy so that I'm, you know, what do they call that? MAGA dum-dum? I don't know what it is, but MAGA cum laude or something like that. See, I didn't go to school after that, but anyways, I could make a lot of money and that's what I did. So my freshman year, like I said, when I was learning the business, I made $18,000. When you go to school, you don't make any money. It costs you money, right? The second year I made 30, my sophomore year, I made $35,000. Then I heard that in 86, in my junior year, in my senior year, I made $409,000. Now who does that while they're going to school? That's the school you're in right now. That's the potential of the school you're in right now. Okay? Or start a business. By the way, everything you're seeing today, all the slides, we're audio and videotaping this thing professionally. Every one of you is going to get a copy of this whole meeting today. Okay? The reason we charge $20 is because all that's very expensive to do, but you're going to have access to all this information. We're going to give you a code that you can go online, go to my website and download every single thing you're seeing today. Okay? You don't need to, uh, you don't, you don't need to, if you don't, you want to take notes, take notes. That's fine. But I just want you to know if you miss something, if you go get something to eat and you miss something for a second, no worries. You're going to have it. Okay? Why you should consider why you should consider the financial service industry. Okay. Today, 95% of retire broke at age 65. There's no financial education. That's why, right? No financial game plan, no financial coach. That's where you come in. That's why you've got to get fully licensed and know how to do everything. So you can be that coach for people this time of just buying only doing life insurance or only doing securities. To me, that is not intelligent. Okay. You should do it all folks on the security side. That's 12 months. I've made about a million dollars in just in the securities income. I have not written a securities transactions since about 1990 is the last time I wrote one. That's all overrides from building a business. Okay. Americans are blowing it on personal finance. 40% don't know what to do to prepare. I think it's actually higher than that. Honestly, 58% of 18 to 30 year olds have not started saving. Most people don't have any money. Nearly seven and 10 Americans have less than a thousand bucks. Most people, if something happened in their life, they couldn't even come up with $400 to fix it or their car breaks down or something like that happens. They don't even have, they have to charge that. That's ridiculous. You have the solution. You can help those people get out of that situation, right? Five charts that show American families, debt crisis. There's 2 trillion in student loans, credit card loans, auto loans, and mortgages. People need to get out of debt. Debt is terrible. Every one of you should be having a debt elimination plan in your life. If you don't have a debt elimination plan, you're, you're just not, you need to be a student of what you're teaching other people. You should have a debt elimination plan. Listen, I want you to imagine right now, if you had no debt, zero, no house payment, no car payments, no credit card payments, no student loans, no debt, but you were making what you're making now, how much better would your life be? Be amazing, wouldn't it? Well, that's what you need to get to. There's nothing like it. The greatest, one of the greatest things I've done in business is to get completely debt free. I have, I own three properties. I have no payments. They're all paid for. I don't have any debt whatsoever. I, I, I, I don't have any, and I have a lot of cash flow, right? So that allows me to have tons of freedom. To me, things are great, but freedom is way better than things. The fact that I could come and go and travel and folks, I've been to 65 countries over the last 10 years, you know, traveling and all kinds of stuff there. You can do all kinds of things that you can't do. I just don't want you to imagine. I want you to be thinking about being debt-free, get debt-free, have a plan. It's not going to happen overnight, but you should be chipping away at that debt. Debt is not good. Car loans hit a trillion for the first time. Is there a market? Look, is there a market for what we do? Let's take a look. There's 77 million Bay boomer, but it's 54 to 70. That's where a lot of your investment income is going to come from folks. I mean, that's, they, these people have money, right? A lot of money, 50 million generation X from 36 to 53. And this right here, this millennial generation, 18 to 35. How many of you are in that generation? Look around. God bless you. You know why? Because that's the group. When I started my business, I was 26 turning 27 and my whole, all my guys and gals that I had in my business at that time were in that age group right there. That group, they're the group that has energy. They're the group that still listens. They don't, they're not like, you know, already like all negative about life and now what a bad promotion and all that stuff. Right? And they've not, now they've been in a job long enough. They go, I hate having a job. That's terrible. I hate having a boss. That's terrible. And they're open, right? You guys are open, right? You want more, right? You want to change your life. That's, that was, that was me back then. That was the group we started with. That's the group. If I were you, I would focus on that millennial generation. Not 18 though. I would say probably 25 to 35 is probably better. Okay. 18 they're living at home. Not so much. Okay. Our mission to help families earn more income and become properly protected, debt-free and financially independent. You should tell people that's what you do. You should memorize that. This is what I do. I help people become, earn more income, become properly protected, debt-free and financially independent. That's what, that's my business, right? It's a simple way to tell, it's a little elevator speech. We teach how money works, right? Well, you all know this, right? This year money, most people put in banks, credit cards, insurance companies, terribly low rates of return. And then they, those companies invest in the global economy. What we want to do is we want to bypass that middle group. That's, that's, we want to, we don't want to put our money there. The rule of 72, these are basic things, but folks, I guarantee you a lot of people in this room aren't using this information. This is stuff to teach people the rule at a 3%, your money doubles every 24 years at six, 12 years at 12% six years. How many doubling periods do you have in your life? Think about it. That could be, if you're really young, like some of these millennials, you've got a lot of time, but some of you are older, right? You don't have a lot of doubling. You got to work harder. You got to get this thing going, man. You got to stop procrastinating. The rule of 72, look at this, that $10,000 a one-time investment in, in, in, uh, there you go. It's 40,000, but at 6%, that same 10,000 is 160,000. And at 12%, there you go. It's 2,000,560,000. Right? So, and, and historically, you know, right now I was looking today, actually it says today, less than 5%, but actually you could get, you could get in money, Mark and in a, in a CD and stuff, you can get up to almost 3%. Wow. Right? Okay. How important is for people to know this? You don't have 10,000. If you could invest 200 a month, $50 a week from 25 to 65 at 3%, it's 185 at six is 398 at 10 is 1.2 million. Is that a big difference or a little difference? Yeah. Right. 12% it's $2.3 million. Okay. So what, what, what if I was talking to him and say, look, I don't know where you're investing your money right now, but what you want to do is you want to get the highest rate of return you possibly can. Right? There's no guarantee, but the fact is that's what you want. That's what you want to be looking for. Right? Are you sure you're doing as well as you could be doing on the money that you're saving or investing right now? If you're, it would, would it, would it make sense to you to sit down with me and take a look at this and see how we could show you how you could get a much better rate of return over time than you're currently receiving. Ask questions, folks, ask questions. There was over 12 trillion in bank accounts in the end of 2017. That's a lot of money out there. It's just sitting, getting terrible rates of return. People don't know what they're doing, right? Merrill Lynch. This is really big. So one of the things that I love about prime America is we're the only company that I'm aware of that does all the things we do where we help middle Americans with their debt, with their investments, with their protection, right? With the auto and home with all who's doing that. There's nobody else. You ever run into another company is doing all the things we're doing. No, we're the only game in town. It's like if you have the only gas station in town and everybody had to buy gas at your gas station, that's what it's like. It's the only game in town. So look, if you, if you want to save money with Merrill Lynch, you have to come with 250,000. They don't even want to talk to you unless you have that. You believe that even Raymond James and A.G. Edwards is a hundred thousand dollar minimum. How many clients do you run across and have that kind of cash laying around? It's very rare, right? It does happen, but it's rare. The vast majority of Americans, those ones that are that 71% that make less than 50,000 a year, they don't have that kind of money. They're the ones that need to help more than these people and no one's helping them except for us, right? You should be very proud of that. You should be talking, screaming from the mountaintops about what you do for people. You should not be one bit embarrassed about what you do. You should be so excited that you got to share it with everyone. You are the answer. Look at this Invesco client. This is no guarantee. This is, I'm not trying to sell you a mutual fund, okay? This is just to show you what happens. Invesco, this particular fund, it's a growth and income fund, has $8 billion. Since inception, the average rate of return on that particular fund is 9.56% for 60 years or something like that. Oh, wait, I think I missed something here. Okay. Yeah. And this fund, one of the great things about investing in a mutual fund, folks, is diversification. Look at all the companies they invest in, like Citigroup, Chase, General Electric, Target, Carnival Cruise Lines, Merck, which is a drug company, Lilly, Cisco Systems, and on and on. I think in this particular fund, there's like 60 or 70 or 80 different companies that you invest in. So when you invest that thousand dollars, you're actually getting a tiny piece of 60 or 70 or 80 different companies. So you're very, very diversified, and you have professional money management, okay? Okay, so look at this. If you would have started, by the way, this is how I used to do mutual funds when I was in the field. This is exactly what I used to do. Remember I used to show you that, Kurt? I would do a, you could, if you invested, you started in 1975, investing $200 a month for 20 years, from 33 to 55, you would have been, does this have a laser thing? No? Oh, okay. Anyways, if you invested that $2,400 a year for 20 years, and then started withdrawing $30,000 a year, can you hear me still? $30,000 a year, over that time period, at the end of the 20, you'd have $322,000, and after withdrawing basically $48,000, at age 35, you'd have $497,000 in cash in your account. That's on an investment of basically $48,000 or something like that. That's pretty incredible, right? And the average rate of return was over 12%. If you invested $50,000 and $300 a month, you'd have $125,000 total investment. If you withdrew $48,000 a year for 20 years, you would have withdrawn a million dollars, and your account would be worth $60,000 or $60,000. So if you're sitting down with somebody and you're sharing this kind of information with them, who's going to say no to that? No, I don't want that. No, I'm not interested in my money growing like that. I'm not interested in retiring really well. This is not for me. It's not going to happen. This is why you have to get your securities license, because you can't talk about this unless you have a securities license. But if you had your license, you could talk about this, and you don't think you could close Danny. Who could you not close with that? Close anybody, right? Everybody would do that. So one of the biggest mistakes people make is buying life insurance or sold life insurance as an investment. You see that still today. The numbers are crazy. This is 1991 from USA Today. The product sold in 1991 was 82% was whole life, 18% was term insurance. In 1991, it was 56% whole life, 12% term, 23% universal life, you can't read that, and 7% variable life. The fact is during that time period, the amount of cash value insurance actually went up 4%. People still, when they're buying insurance, that's what people are sold. And why are they sold that? Because the commission is so much, it's incredibly higher, right? But there's some problems with it. This is from 1997. If you buy a cash value policy, it doesn't even start to have a positive return at least until three years. It's a negative rate of return for the first three years. Now how from an investment standpoint does that make any sense whatsoever? It's ridiculous. Anybody that understood how it worked would never buy it, would they? No. So I would tell people, say, look, if you have a problem closing somebody who has a cash value life insurance, I would ask you this question. If they understood it like you understand it, is there any way that they would purchase that product? Absolutely not. So then what you've got to learn how to do is you need to learn how to explain it so that they can understand it the way you understand it. And you will never have a problem closing an insurance transaction like that. So it's, I'm not going to go through all that. Retirement, disaster looms. One of the problems with universal life is that inside of a universal life policy, folks, the insurance part is actually annual renewable term. So every year the cost of the life insurance goes up. So if you start at like, say, 25 or 30, it's relatively inexpensive. But when you get to 40, 45, 50, 60, it's really expensive. And if your investment isn't performing like it should perform, right, the investment performs poorly, which you don't know what's going to happen, right? Then, because the premium for the insurance part is so high, they start taking the money from your savings account to pay the thing off. And then what that does, it erodes your ability to grow your retirement account, which they call it a retirement account. It's a terrible product, right? It's a terrible product. Universal life insurance, the 80 sensation has backfired. Long-term decline in interest rates caused premiums to soar when they were supposed to stay level, which causes the policy to explode, okay? Transamerica had to pay $195 million to set a lawsuit over universal life because people were finding out this was happening to them, they sued them, and that's what they had to pay, right? It's a terrible product. Millions could get slapped with steep premium hikes for universal life. Over just the last two years, tens of thousands of universal life policyholders have been hit with double-digit premium increases from companies such as AXA, Equitable, Voya, blah, blah, blah, Transamerica. More premium hikes, especially to long-time policyholders are expected. Understandably, universal life policyholders, many who have been assured by salespeople that their premiums would never increase, are not taking this well. There are now a dozen lawsuits against insurers who sold those policies, according to the New York Times. Folks, when you're equipped, you have the right information to share with people, closing a transaction like this is a piece of cake. You need to study. One of the things I did when I got started in the business, I read everything, you know, what's wrong with your life insurance by Norman Dacey, Consumer Reports on life insurance. There's all kinds of different books and there's publications regarding life insurance and how terrible cash value all forms, including universal life, you know, you bet your life, wildlife, all those things, right? They're just, they're terrible. It's a terrible product. Anybody that understands them, no one would ever buy a product like that. You wouldn't do it. Look, I'm a high net worth individual and I've been, people try to sell me that, you know, those policies, but the problem is, as soon as I sit down with them and I explain to them how it actually works, they go, oh, I didn't realize that. Nobody that was financially astute would ever buy a cash value insurance policy. Nobody. Okay. So they tell you, oh, for high net worth, that's a bunk. Okay. Total bunk. Well, retirees, we can imagine, imagine if you do this, it's a retirement thing. Now you're getting to retire and it, and all your cash is getting eaten up by the raising cost of insurance. And you thought you were going to have all this money and you're not, you spent 20 or 30 years putting, you know, thousand, 2000, 3000, $4,000 a year into something like this. That'd be disaster folks. Protect your most valuable asset. Cash value insurance. This is what it looks like. 295 monthly premium cash value at 65, 124. And plus, you know, one to four years, zero rate of return or negative return. You have to borrow your money if you need it out of there. And most lose cash value. Not all of them, but some of them do. If you don't lose your cash value, then the cost of insurance is even higher. That's the problem. So that gets eaten up faster if you're not, it's not the case. Right? So by term and invested difference, look, you've got to master this by term invested difference thing, because this is, this is, you didn't know how to explain this and get somebody to really understand it. So they would not only, well, I'll allow this. Here we go. 400. If you took that same premium, you could get that 30, Mary and John could get 400 each, which is 800,000, right? That's almost triple the coverage for $169 less a month. Is that, is that good? It's phenomenal, right? And then if you invest that 120, the difference in that it at 9%, it's 500,000. So you tell me, right? Plus the savings is separate. This is why I used to do it. I'd say, I say, Kurt, here's your savings in a term by term invested difference. Here's your investment. If you were to pass away, your family would get both. Okay. So in this case, if they still had the 400,000, they get the 400 plus the 500, they get 900,000. In this case, they just get the 150. Knowing what you know now, Kurt, is there any way that you would, if you had a product that you'd keep it, is there any way you wouldn't make a change to the, to the, to the, this by term invested difference? It's a no brainer, isn't it? Why don't we get started right now? Just close them. Okay. Cause it's not something you don't even have to think about. They have to think about it. I would say, if he tells me I have to think about it, this is one of the closest, right? I'd say, what part do you need to think about the fact that you're going to have 400,000 each versus 150? Do you need to think about that? Do you need to think about having 124,000 versus 500,000? Do you need to think about having a definite of 150 versus potentially 900,000? Which part? Oh, come on. That's it, right? Let's go ahead. Let's do it. Piece of cake. That's what's calling recapping what you're doing. That's what you got to recap, right? So then, cause what you do is you, when you're, the close is making it so that it's, that it's so ridiculous that they can't say no. They'll be embarrassed to say no and they'll go forward. Right? Not only that, it's the right thing for them, isn't it? Okay. Airbnb, Airbnb, right? Okay. So how life where you guys know all this, I'm not going to spend a lot of time in this, but when you're, when you're young, you have children, children, high debt, house mortgage. You need a lot of protection. You don't have a lot of cash, but if you're saving and investing in retirement, you have grown children, lower debt, mortgage paid, retirement income. That's what you need is retirement income, right? So you eliminate one of the things that I, when, when I would talk about life insurance, I'd say, look, I don't even know why they, John and Mary, I don't even know why they call it life insurance. It's actually income replacement insurance. It's not really like it doesn't guarantee your life. You're dead, right? What it does is it replaces your income because it's, you know, so John, if, if you were to die prematurely or Mary, you both work, you're both bringing cashflow into the, into the household. If you were to die prematurely, that cashflow, let's say you're both making $50,000 a year, that 50,000 goes away. But the problem is your mortgage is still there. Your kid's education is still there. You know, health insurance, blah, blah, blah, all those things that you're right now, you're, you're using that a hundred thousand dollars a year, but also if that goes away, what are you supposed to do? Right? Sell your house, move in with your folks. I mean, you don't want to have to do that. So the insurance is to protect your income. So if you die prematurely, what that does is it replaces that, you know, that 400,000 could potentially pay you 25 to 30, 40,000 dollars a year of income and offset, you know, the loss of income. That's the whole point of it. But as we get you investing, investing properly and getting debt reduced and investing more money at hopefully at some point in the future, you're going to have, you know, 500, a million, 2 million, $3 million, and you won't even need the insurance at all. You can let that go because you have enough cash that you saved and invested that you can, you can live off that if something were to happen. Does that make sense? So my goal is really to get you out of ever paying insurance premiums in the future. But the only way to do that is you've got to have it temporarily start saving and investing. You do that at some point, you're going to be self-insured. That's, that's, that's what I would tell a client. My goal is to get you self-insured. This is a temporary thing. These are some compensation. On a 1,500 annual premium as a district, it's 750, division 900, regional leader, 1,050 as an RVP. Look at that. I mean, plus bonuses, right? Now, you're going to have this presentation. If you're sitting down, you want to recruit somebody, this is something you might want to share with them, right? I mean, I don't know. District leader, you know, well, you can see what the numbers are. If you did four transactions a month, it's 3,036, 42 and 6,600. You can earn money two ways. You can help families and override. So to me, the override thing, the override is where you get freedom. This is why this meeting today to develop people, your ability to develop people allows you to get overrides. My income right now, and for many, many, many years has been 100% overriding. I have not. I don't know. I can't remember the last time I wrote any transaction personally. Okay. A life transaction, investment transaction has been years and years, but because I developed a bunch of people, I, my income, I don't have, you know, one of the greatest things is never having to be anywhere that you don't want to be. That's, that's the best. Okay. I mean, that's incredible. Okay. That's what you want to have. If you have nine families, it's $6,900 as a regional leader. As an RVP, it's even better, right? If you have a district division, a regional leader, they're doing production for production for sales transactions, it's 18,000 plus a bonus total comp for an RVP that you had a business like this is $28,000 a year, which is almost $360,000 a year of income. Every single, there's not one of you in here that doesn't have the capacity, the ability to do that. All right. Now you're going to have to master what we're talking about today, but every one of you can do this. I want you to think about how, how much different your life would be on that income versus the income you're currently experiencing. Would it, would it, would it behoove you? Would it make sense for you to stop? Listen to the radio, stop watching TV, to start focusing on mastering this information, mastering this stuff so that you could build a business and attract people to do that. Would that be better than going back to school to get a degree? There's no question about that, right? No, I'm just going to go keep going here. It's it's I'm going to need to go through every single one of those things. So where do you want to be in five years? Where do you want to be in 10 years? Where do you want to be in 15 years? Where do you want to be in 20 years? I don't know. All I know is your life could be radically different in, in five to 10 to 15 to 20 years, radically different. That's, that's what, that's what you're sitting right now. You may, I don't know if you're bored or you're excited or what, what your situation is right now. But if I was, if I was just starting out and I could see that that could happen to me, I would be going through the roof. I could not wait to, I'd be studying like crazy to master this stuff and get really, really good. All right. You know what? Good is the enemy of great. Okay. Good is the enemy of great. And if you want to, I have a saying, I actually, I made this saying up myself, right? Money follows greatness. You think of every single, what does it matter what the field is? Sports, the great ones, what do they make? I was saying some of these baseball players are signing contracts like 20 years for $300 million or something like that. Right? I mean, you look at LeBron James or anybody that's great, great. Like a tiger woods at golf, right? I mean, he's made, he's, I think his net worth right now is like $800 million and you know, and he had a nasty divorce and it should be over a billion dollars, right? Michael Jordan is worth over a billion dollars today. What do they have in common? What all the great actors, the great, you know, like a Warren Buffett, what is he? He's great at what he does, right? If you think of all the people that are great at what they do, money follows them. Instead of chasing money, chase being great at what you do and money will follow you. That's what you should be doing. That's the focus. That should be your focus. How can I get better at what I'm doing? How could I get to the point where I'm so confident? I'm almost cocky, but cocky is not good, but I mean, so you're so confident you, I was so confident when somebody didn't say yes, I go, what? You're kidding, right? No, that's how you want to get. You want to get that good that you feel like anybody that doesn't follow you is just silly, right? Okay. Our next speaker.