Yes at first glance things are tough on everyone. Rich people and poor people — we are all on the same ship that was thought to be unsinkable. The primary key to saving this ship is working together as a team organization built on discipline and educational sharing.
The keys to success are all around us — we just have to look at the available tools. What can we do as financial services professional??
We need to follow the teachings of Zig Ziglar and Jim Rohn. We have to feed “the goose that lays the golden egg.” We pay fair taxes, and we offer help to the less fortunate.
Modern day life insurance agents (financial services professionals) offer some relief by identifying the changes in the life insurance industry.
We learned life insurance was not a good investment vehicle during the 60s, 70s and 80s. It was buy term insurance and invest the difference in real-estate, mutual funds, bond funds and ETFs.
Our job as financial services professionals is to teach our clients the changes. Life insurance has become a safe investment alternative to the stock casino. Never risk your nest egg in the quest for financial gain, protect it and remember Grandpa's favorite message, "a bird in hand is worth two in the bush."
Eliminate procrastination because it is a deadly thief of financial security. We have to educate our clients to become more conservative in consumption and avoid wild investment in the stock market.
The salaries of the service industries will never replace our once large manufacturing base. We need to teach our clients to start early and go slow in this new service-based economy.