Since the recession officially began back in 2007 (and in all honesty, for quite a while before that), many of us have been facing a new, and rather grim reality. The ongoing recession has caused us to reconsider many of the basic elements of our lifestyles, including the way we spend, save and invest. What’s more, it’s often taken a significant toll on our livelihoods, whether in the form of pay cuts, layoffs or a reduced client base.
It seems that you can’t have a conversation with anyone without hearing about their hardships. It’s obvious that a lot of people are very worried and need to get it off their chest. Today, as I was standing at the gas pump filling up my car, the woman next to me struck up a conversation that started with the rising cost of gas and quickly moved on to bigger concerns. “It seems like everything is going up except for my salary,” she said. Sounds familiar, doesn’t it? She went on to tell me that she had lost approximately 50 percent of her client base and that although business had been better of late, June was always her busiest month and she had no idea what the future would bring. I don’t even know what she did for a living but does it really matter? These stories are taking place every day across the nation, and the globe, for that matter.
This steady barrage of gloominess can bring on a low-grade panic at times, so it’s nice to get a little perspective. Lew Nason’s latest article “Attract more prospects in a month than most advisors will see in an entire year
” provides just that. He says that despite the steady barrage of grim figures every time you pick up a newspaper or turn on the radio, the recession actually only affects a small portion of the population. He insists that most people aren’t dealing with anything different than they would under normal circumstances, and, if anything, they’re more willing than ever to receive advice from a knowledgeable advisor. Although his article focuses on life insurance prospects, the principles can be applied to every industry. Give it a read; it’s nice to hear a calm voice once in a while when the sky is falling.