Chad Owen tells financial advisors to stop selling hypothetical projections and start selling guaranteed numbers instead. He walks through a client who got a 22% bonus that only activates after 10 years, and explains why guarantees beat hypotheticals every time.
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Hello, Chad. Owen. With retirement realized, if you guys haven't noticed, our vlogs are now called Live Drive vlogs. And I love it. My executive assistant, Marisa came up with that name and I love it because I'm actually out in the field just like you. I'm driving around all the time. When I get a couple minutes, I pull over and I record one of my vlogs, whether it be current market condition or something that I did in the last appointment or ran into a last appointment. Anything I can do to help you. As you know, all these vlogs are free if you want to be a part of our academy. That of course costs some money because all training, all coaching is going to cost you. If it's going to be beneficial, it's going to cost you. But Live Drive vlogs, that's what it is from here on out. I want to share something once again, something I just ran into and I actually got a sale because of it. This client was being presented, they needed to draw income. And two to three years this company was presenting or the agent before presented a product that had a 22% bonus. Now, the company is great, the product is great, but the product for the solution was not. In other words, I had a product that paid a little bit more in the income side of it and it met the client's need. But it wasn't based off of a hypothetical because as we know, that product that you have to wait, that gives you the 22% bonus, you have to wait 10 years to activate. At the end of 10 years, you can activate it for guaranteed income for life. But what's that number going to be at the end of 10 years? We don't know. So they recommended that you do your penalty free withdrawals for the first years, really years two through ten. And then hypothetically, this is how much income you would get. If we keep working off of hypothetical scenarios, we demean what we do. In other words, variable people really use hypothetical for pretty much everything they do. And unfortunately, when it comes to retirement, if you're using variable or hypothetical anything to produce income, it can really tarnish our image because what happens if it doesn't perform like the hypothetical scenario? So that's why you always use guaranteed numbers. I use guaranteed income riders. Now there's an exception to that. If there's a hypothetical number that meets the minimum amount. In other words, let's say they need to draw income in one year and they have to take a little bit less, but it meets their needs. That's fine because if it grows and it produces hypothetically and it increases your income, then I'm the hero. But my number one thing, I always tell people this, I sell off of the worst case scenario. I never sell off of the hypothetical or the best. And think about how great this is. If I just bought a new Ford truck, it's going to be coming in this week. What if I went to the dealership and they said hey you know what, this truck's probably going to break. There's going to be a lot of issues. It's going to be high in maintenance. What if he sold sold off of the worst case scenario? I might never buy a truck ever if they were selling off that. But in our products we can, we can sell off of the worst case scenario. This is your worst case scenario. You get X number of bonus, you get X number of roll up rate, you get X number of payout percentage and this is how much you get guaranteed for the rest of your life no matter what happens to the market. That's why I love what we get to do. We never need to call our clients and say man, the market tanked, you lost money. We just don't to worry about that. So guys, let me just once again warn you against don't sell a hypothetical scenario because it sounds good. Solutions sell, don't product push because as long as you keep doing that, I'm going to keep getting the sales when I come behind you because I'm providing something that is guarantees not a. I hope so. I wish maybe possibly mine is a guarantee. Mine is a worst case scenario. So once again if you guys need help go to retirementrealize.com as www.retirementrealized.com be sure or you could go to my LinkedIn or you could go to my Facebook page. You'll see the links to that. Sign up for our memberships. I can help you absolutely 100%. I just got off the phone with a guy that went back to an appointment thinking he was going to lose the deal. Through some coaching and just great circumstances. The client did not free look the policy. They were actually very excited and very happy because I was able to help coach him on what to when he goes back to that client that wanted to free lick the policy. All he did was reconfirm why they got it, what they wanted, how they were out of the market, how they had safety and security and they were able to save that deal. Once again, if you like our YouTube videos, be sure and like make a comment and subscribe ring the bell. And that way, anytime I have something new, you'll be able to be notified of that. Thank you so much, guys. You have a great day. Happy selling.
