No more poems to Mr. B

While I do not know with whom or when they started, the poems my Nana would write are famous amongst not only our immediate family but those friends, of friends we have all made through the years. Nana didn't just write poems to me, she wrote them to my cousins, my mom, my stepdad, aunt and uncle, and I'm sure she wrote them to many others as well. Every birthday, or every occasion that warranted a card, you always knew there would be at least a small poem to come with it.

Some of the best poems wouldn't stop. Some poems seemingly lasting forever as we would read them aloud to the audience of family and friends gathered for one of our birthdays. I do believe I have in my possession the record for longest Nana poem, of 11 pages. I believe I received it at one of the momentous birthdays, either 18, 21, or 25. At least as of today, I hope I have it in my possession.

You see, my Nana passed away last night. It really is amazing that she was able to even make it to last night given the fact the doctors originally said that she "might" have 6 months left and that was well over 2 years ago. My Nana wasn't just mine; (although I was the one who created "Nana" as a child) she was Nana to my cousins, my many friends, and to most of the extended family as well.

Nana would write about what was going on in her everyday life as well as ours. She would throw in some historic facts, or write about the weather and how she hoped it would be a sunny day for our birthday. She would write about my favorite sports and somehow make it all rhyme.

Today looking back, trying to hold back the tears of her loss, I realize that most of the good that has been instilled in me was ultimately from her. I know she didn't invent the ideas, but she engrained each and every one of her sayings she lived by in all of us. Some goodies:

    Sticks and stones will my break my bones, but names will never hurt me.

Actually, as of right now that is the only one I am thinking about because I remember looking out her window after someone 'hurt' me by calling me a name when I was not more than 5. I remember her telling me that saying and had me repeat it. She was THE master at nursery rhymes. Somehow, she remembered them all from, "Little Jack Horner" to "Mary had a little lamb."

The point of all of this is that everything in life is at least in part emotional. Most of what we really have to hold on to are our memories of the people we have loved. My Nana had no real idea of what or how I do what I do, and there is no way I could ever explain it to her so she would fully understand. Until today I couldn't fully understand how to explain it to her, and it's too late.

I help people establish a plan so all they need to do if something happens to a loved one, is remember and have the time to grieve the loss of that loved one and not worry about anything financially.

 

Letter to Friends, and Family

To all my friends and family,

 

As you all know, I have been fulfilling my dream as a financial advisor.  A dream that I've had for several previous years and have been blessed with the opportunity for it last year.  Sadly, however, my dream will be coming to an end if I cannot keep my foot in the door.  The choice to become a financial advisor was a journey I knew would be rough, but also a journey that happened at the same time as the economic fall.  It's been a rough year trying to help people see the benefits of the products I offer and the service I provide, protecting not only them and their lifestyle, but their loved ones as well.  Many people just aren't willing to take the time to see and evaluate what could happen if tomorrow never came, or a sudden disability caused a job loss, or the value of putting towards a retirement.  For many, they believe tomorrow will come, or "it won't happen to me".  Sadly, this is not the case and I've seen many people struggle and hurt from this point of view and the consequences it brought.  Others state "I get insurance through my company, why would I want to pay a bit more to get it through yours?".  Well have you ever read the fine print on your companies' policy?  What happens if you are laid off or switch jobs?  What happens if you become disabled?  Do you know what your policy through your work can offer?  Basically – nothing.  If you are laid off, switch jobs or simply quit, you lose your policy and ALL the money that went into that account is no longer in your hands put is put back into the company's shareholders.  So what do you get?  Nothing. 

 

Having an outside company handle your insurance guarantees your policy to stay put no matter where you go.  So you never lose out on the money you invested.  What about disability?  What happens if you sprain a tendon, break your arm or are unable to walk because of a herniated disc?  What will your policy through your company do? Nothing.  Most companies only offer disability if you dismember a part of your body. (read the fine print!) NOT if a simple disability puts you out.  And disability from the state?  Though it's something, will quickly disappear once you find a new job.  This is where I come in.  Not only will the services I provide quickly get you out of the stresses of a financial bind, but will ensure you and your family that you are covered for life.  Can no longer use your hand in your current job but can work doing something else?  Not only would a disability policy through my company cover the time you are out of work, but will continue to pay out even if you find a new job.   Don't believe me?  Ask me about the doctor.

 

Basically my point is this:  I chose a career to help benefit people, their families and ensure the peace of mind incase anything devastating happens.  But many people, friends, and family as well as strangers, have quickly shut the door in my face because they believe tomorrow will come, that they will never be hurt on the job, are not in need of my services or simply can't afford it.   They are also worried of investing their money into any retirement accounts, trusts funds for their children, and etc.  The big "I can't afford it" is the ONE thing that holds them back.  But what if you can?  Would you be more willing to have the peace of mind of that your financial needs are safe and secure if you just gave a few minutes to listen to what I can bring to the table?

 

If  you fall into any of the following categories, I just ask that you please give me a call and I will be more than willing to meet with you anytime, anywhere, to discuss any financial needs, no obligations, no pressure and with a fully trustworthy answer.  I will be more than happy to look over your current policy(ies) and read the fine print and explain what it really means.  If I think your policy is better than mine, I will tell you.  But I can guarantee that most of them are not, especially if they are through the company you work for.  I can give you a better rate, better service, and a better product to ensure your peace of mind. So if you are a parent, a wife, a husband, a business owner (talk to me about insurance policies for your employees!), wanting or willing to roll over a 401k, an IRA, needing or interested in an estate trust (I have a great referral), life insurance, disability insurance, an employee of any company who may have a policy but is willing to let me look over and see what I can offer you, or even if you are someone who currently holds a policy with another company – I ask you that you please grant me the opportunity to fulfill my dream as a financial advisor and see what I can offer you,  your family and your peace of mind.  My company offers better service then State farm, prudential, common wealth, and all of the smaller companies that work only through employers.

 

This isn't a plea bargain, but more of asking of help of opening of eyes, and a way for me to still hold onto and continue my dream.

 

If you know anybody that is a business owner, a parent, a friend, a co worker, anyone that has even the slightest interest or even may not have any idea what the benefits of the products I offer can do but are willing to just listen, please, I ask that you pass my name and number to them.  I will meet you/them anytime and anywhere.

 

If you think you can't afford it, I ask that you give me a chance to see that the products I offer are very affordable.

 

Think about your life and the life of your family.  A simple policy can do wonders for you and them. 

The 4 C’s

I was reminded last night about what I believe every relationship needs. I call it the 4 C's: Communication, Compromise, Compassion, and Commitment. While I believe undeniably that these are needed very strongly in a romantic relationship, I also believe it is needed in a professional relationship as well. That is what I want to discuss; a professional relationship that I like to have.

Communication

Communication is the key to all understanding. Communication is also a fantastic way to educate and to build trust. If a person has an understanding of why I am recommending something, then I believe I have done what is right by educating them enough to make a solid decision. If for example, someone does not communicate to me their current needs, and I come back to them with a recommendation that did not address any of their current needs -then there was a problem with our communication. That leads to a lack of trust, and potentially leads to questioning someone's honesty.

Compromise

Compromise in business usually means that in order to get good service you need to compromise on price or vice versa. In my business compromise means something entirely different. Compromise in my business is taking a little from this pocket and moving it over to another pocket. Compromise is putting that $4 that is usually spent on that morning coffee to work for you and not towards that coffee. Compromise is letting 1% to 3% protect the other 97%.

Compassion

Compassion - a feeling of deep sympathy and sorrow for another who is stricken by misfortune, accompanied by a strong desire to alleviate the suffering. My career depends on this. In my profession is it said that you never know how good of a career choice you've made until you deliver your first benefit check. This is the very foundation of my belief in my business. I have the 'strong desire to alleviate the suffering', which is entirely why I do what I do. I want to help other people achieve things that they didn't know how to achieve before.

Commitment

Commitment in business is gaining understanding and then moving forward with a plan. In my business it is no different. The types of products that I have available to my clients are ones that take commitment; they are not short sighted. Please understand that just as a client is committed to their plan, I am committed to the client. My whole purpose is to understand where the client is and where they want to go. Then, it is my duty to submit a plan that they could follow. That is my commitment to the client that I will find a good plan/product mix to achieve their goals.

Why bother investing?

Why is it that people are so willing to invest their money in stocks, bonds, mutual funds, their own 401(k)'s, IRA's, Real Estate, Commodities, but are so unwilling to use another financial instrument? The instrument I am talking about is insurance. Life, disability, long term care insurance, just to name a few that have tremendous consequences on someone's financial outcome.

Believe me, before I got into the financial services business I didn't believe in, or understand insurance, more so the latter. I didn't understand insurance and believed like my parents and so many others that it was throwing money away. To be honest, even when I was getting my license I still really didn't understand or want to understand what the benefits of insurance were. People who are in the insurance side of the financial services industry say that you will never appreciate this business until you deliver your first check. Although I am sure that would solidify my beliefs, and even compound my appreciation for the business, I am here to say that I already appreciate it more than I ever thought I would.

Insurance is just another financial tool that should be used to achieve your financial goals. In fact, life insurance in particular is probably the most versatile financial tool, yet people do not use it. Why? People don't understand how to use it, and secondly they don't want to consider thinking about death. I am going to let you all in on a little secret--one day, we all are going to die. I'm just dealing with facts here--death and taxes, are the two certainties right? Why not find a way to pay as little in taxes while you are still here and still have access to your own money. Little known fact: Life insurance enables you to do that! Get over the fact you will one day die, and get over the fact that this financial instrument will pay your beneficiaries, if you happen to die sooner than you have planned. Life insurance is a financial tool that could make you wealthy over time, but too few of us use it!

Most people I know seem to have the "Superman complex". They seem to think that they are either invincible, or are lucky. If you are a 30 year old you are 4 times more likely to become disabled than you are going to die. What does that mean to you? That means you are likely going to lose a significant portion of your income if you don't have a plan in place to protect that. How many of you have a plan in place that will protect your income? Did you know that a good disability insurance covers you if you are unable to perform your own occupation until you are 65? An example: if you are unable to perform your own job responsibilities but are able to go out and get another job, not only will you receive your new job income, but you will also receive the disability payment as well, which is usually up to 60% of your income tax free!

Someone recently told me this year that they are going to "invest all they can into their retirement" rather than pay for a long term care policy. I find that to be an interesting strategy and here is why: it is estimated that 70% of people who reach 65 will need some form of long term care before they die. (Council of Economic Advisors. Economic Report of the President. 94. Washington, DC: U.S. Government Printing Office. 02/17/07) Are you going to be part of the 30% who will not need any form of care? Odds are, most of us are not. Based on national averages the cost of Home Care is $58,400/year as of 2008 and increasing year after year. The cost of Facility Care is $77,380/year and is also increasing.

Let's use this person as an example: Age 56, so they are actually able to contribute up to $21,500 into their 401(k). Let's say they plan on retiring at age 62 (because 2008 happened). So from now until 62 they will contribute the maximum into their retirement account and let's assume that they will also get an 8% return each year until then, and once retired a more conservative 4%. Let's also assume at age 72, they will need some form of long term care (probably home care). So at retirement just based off of the 6 years of 401(k) contributions they have an additional $147120.29. By 72 they will have amassed $217,773.97. By the time this individual will need long term care it will cost roughly $135,000/year for Home Care. So putting all their money into their retirement will afford them roughly a year and a half of care. However, if they would have purchased Long Term Care Insurance the insurance would cost roughly $2,800/year and cover $104,000 of expenses. Leaving a little more than $30,000 needed to come out of pocket. Using this illustration seems to me that their retirement would benefit longer by passing some risk onto the insurance company.

Financial Advisor Misconceptions

The other day a friend of mine posted on her Facebook Wall, "Loves Dave Ramsey. We are on the road to Financial Peace." While I am happy that she is so enthused about her financial situation, I am more concerned about what followed during our discussion afterward. I responded to her comment with the following response:

I've watched the entire course and he has some really good ideas on reducing debt and spending. I would love to question him on where he comes up with guaranteed 12% returns in mutual funds and I would press him on paying down your mortgage as fast as possible. Lastly, I totally do not see eye to eye with him regarding life insurance.
I personally think it's sort of sad that people don't seem to realize that there are local professionals that are willing to help individuals and families and are willing to have that personal relationship with people, but instead they listen to someone who they will never truly know like Dave Ramsey or Suze Orman and think that those individuals have the "right" plan for you without even knowing who you are or your circumstances.

She in kind responded with this: "I agree that having a personal touch is way better!!! BUT, isn't a financial advisor for people with money? What about us poor folks that don't even know how to balance a check book? That is what this class is to me. Just getting out of debt and actually have a budget and plan. It actually is a lot of fun relating to other people that are in the same boat."

Finally, I had to respond with:

I believe that is the big misconception with financial advisors. Yes there are those of us, who really focus on people with money, however, there are many of us advisors who want to build a lifelong relationship with our clients. What does that mean to you? To me, it's starting from where you currently are and building a plan that you are able to implement and grow with.
The biggest misconception of all is that you need money to have an advisor. Just like how do you eat an elephant? One bite at a time. That is where a good advisor will help you most is helping you realize that you can and will achieve your goals, and they will help show you what is important to start doing today.
You may say you don't have money; a good advisor sits down with you and finds the money for you to be able to achieve your goals, and possibly your dreams too.

The point I am trying to make is that I believe everyone should have a financial advisor. You go to a doctor's office if you are feeling sick, don't you? You go see a lawyer if you have questions concerning the law. You go see a dentist if you have problems with your teeth, don't you? You go see a realtor when you want to buy a home, or a mortgage broker to find a loan. Why wouldn't you consider sitting down with a financial advisor if you have questions about your finances?

While it is entirely true that wealthy people have estate issues to plan and deal with, I would venture to say that more modest income based families could actually benefit more from what a financial advisor has to offer than many people realize. I believe a good financial advisor could help those families achieve their goals faster, and possibly reach for things they originally only dreamed about. At the very least, a financial advisor would help establish a financial plan that would stay in place throughout, no matter what stumbling blocks may appear in your lifetime.

Wouldn't it just make sense to talk with someone who is genuinely interested and concerned in your well being? Rather than some marketing guru who isn't going to answer the phone when you call them? Or better yet, someone who doesn't know you personally and doesn't know what your particular circumstances are? Unfortunately, I am finding more and more people are interested in listening to these guru's who offer up cookie cutter answers. Sometimes, your problems cannot be answered by those answers, sometimes a personal relationship could assist you in finding solutions to those problems where you could not get a solution otherwise. I want to build a relationship with my clients that will last a lifetime. I want to help individuals, families, and businesses in whatever stage they are in currently get to wherever they want to go. Why doesn't that seem to make sense to people?

Drive for show, Putt for dough

Drive for show, putt for dough. Many people may have heard this golf analogy before. Basically, it is saying it is sexy to hit your drive into the next town but if you want to really make money you have to putt well. Unfortunately for many of us, we fall into the trap of having the desire to be sexy.

When it comes to our personal financial plan many of us have taken the exact same approach. With the way the stock market gets idolized for its terrific gains, the housing market – how it can never lose, and now gold with how it's going to continue to go up in value because the ultimate decline of the dollar and how "everyone is scared and needs a safe investment." Although things and people say certain avenues are safe for investing please understand that there is also significant risk in all of those avenues. Now, I'm not saying to not invest in any of those places, but I will say there is a time and place to do so in your financial plan.

In creating your financial plan what most gets overlooked tends to be the base or the foundation which you actually build your plan on. You wouldn't go out to Home Depot and purchase everything you need to build a home and start building it on the ground without a foundation, would you? Consider your financial plan just like building a home. Your foundation needs to be strong and able to stand and hold up your building or plan, otherwise when something unexpected comes along, your building or plan may not be able to withstand the unexpected.

Take a look at the Financial Planning Pyramid to start to take inventory of what you already have in place. If you don't have your base or foundation covered, perhaps you should consider stabilizing your plan. Why not set something up to ensure your plan works regardless of the disaster happening or not? Remember, if your plan isn't strong enough to hold up when the unexpected comes along, you are essentially driving for show, but not putting for dough.

Resurgence of Whole Life

A day that changed my outlook

A day that changed my outlook

I cannot quite remember the exact date, but I do know it was a Friday sometime this last winter. It was the first time I was a guest at a NAIFA meeting at the Contra Costa Country Club. NAIFA (National Association of Insurance and Financial Advisors) holds monthly breakfast meetings for its members for educational purposes and networking opportunities.

At this particular meeting, the speaker failed to show up. As I recall, I was very much looking forward to the speaker, so I was particularly bummed. Little did I know at the time, I would be blown away by the conviction of the stand-in speaker. The president of the chapter apologized to everyone for the miscommunication with the speaker of the day, and asked politely if we could have someone step up and offer some stories. Up walks this older round faced individual to grab the microphone. Just as he begins to speak I am somehow reminded by his voice that I have heard him speak before. This gentleman who was a former NAIFA president, was none other than Dick Callahan, the Oakland A's/Golden State Warriors announcer!

Having no prepared speech, Mr. Callahan pulled from his library of stories that had amassed through the years to pull out some real special cases he had worked on, but one in particular still stung for him to think about because it was a recent case. He had a particular client for years. This client had recently needed to replace a life insurance policy that just had finished its term period. The client was an older gentleman somewhere near 70 years old. The client still was able to get insurance, but compared to his last term policy the premiums were significantly higher for the same amount of coverage. Because of this, the client decided to change the face amount to half of what it was before. The client still had a lovely wife…as Mr. Callahan was speaking a noticeable change in his voice occurred.

The client that Mr. Callahan was referring to passed away 2 weeks earlier. Mr. Callahan was noticeably upset at the loss of a client, someone who had become a friend, but mostly he was upset because he believed he didn't do a "good enough job pushing the client into keeping the same coverage." Although delivering a $500,000 check to the wife was not a bad thing, Mr. Callahan believed it should have been $1,000,000. Everyone knows $1,000,000 goes further than $500,000.

I was touched because although Mr. Callahan is extremely successful, it wasn't about the money to him. It was about providing for others. It was about walking up to that widow and offering condolences with a check in hand, something that would provide a little comfort amidst the turmoil of dealing with the loss of her husband of so many years. What struck me deeply was Mr. Callahan's conviction that he didn't do enough. As the tears rolled down his cheeks I realized that this isn't about how much money we all could make, it's about how much we all can make a difference to the people we call our clients.

I sat and ate breakfast that morning with Mr. Callahan, and although I doubt he remembers who I am, I will always remember that winter morning that changed my life…

Friday September 5, 2008…thoughts to remember

I originally wrote this last year on Friday September 5, 2008. I was at a funeral for someone I did not know, but was a dear friend to many others, including my wife, Dana. I feel it is appropriate due to September being Life Insurance Awareness Month.

As I sit here I am reminded how short time we have in this we call "life". I am reminded of all the beautiful places I have seen , the wondrous events I have been a part of, and how many people that have actually made a difference in my life. I am thankful for being able to acknowledge the very present. To know where you are at any given time and be at one with that place with the understanding that you will never have that moment again. How different would we all behave if we all took that knowledge? Would we all choose to take a higher road?

I didn't know this man Tom whose funeral I am at but I am thankful for the inspiration I have gained by coming. It has reminded me to choose the high road and that we all have choices and to try harder to choose happiness. For each moment we choose something other than happiness we lose that moment we could have, and should have chosen happiness.

So, choose happiness and know that it is a personal choice and not something another can give but something another can take if you choose to let them. I hope when it is my time to walk out of this life, that all the good times will rush back to me and I leave with a smile of knowing maybe I had given a few smiles to others along the way.

Let me take a moment to explain why I have life insurance, but why I believe in it so much. You see, before getting into the industry, I didn't believe in life insurance at all. In fact, I felt it was such a waste of money! I had even a worse taste in my mouth since my previous experience with a life insurance person, and company were of total deceit! One person told me a blatant lie, and I bought it! I vow to never, ever have someone I do business with walk away without understanding or the feeling like they have been "sold".

I have life insurance for two main reasons: 1) to provide a benefit to my wife. If you really want to know the truth, I feel under insured even though I have a $1,000,000 policy. What this provides her is the ability to pay off the mortgage if she chooses to do so, eliminate any and all debts we may have and also to provide a cushion to enable her to do whatever she wants to do. If she chooses to go back to work, that is entirely up to her. However, my point is life without me in it will be difficult for her to cope with let alone try and go back to work within a little time (at least I hope it would be). I want her to live life, travel, do all the things she's always wanted to do, start her dream business and not have to worry about trying to make it because my life insurance will provide that. 2) I believe in using life insurance as a retirement supplement. I believe in the benefit of tax deferred growth with guarantees with the option of pulling from it in tax advantaged ways. I believe in leaving a legacy and providing for my retirement dreams and goals.

I want to help people achieve their goals and beyond. That is why I do what I do. That is why I believe in what I believe. I want people to leave with a smile, knowing exactly what they want and need and how to get there.

 

 

A penny compounded grows…

Which would you do: take $1 Million right now, or would you take a penny that doubles every day for the next 30 days? That seems like a really simple question to answer right? I mean, who wouldn't want to have $1 Million sitting in their hands? And after all, a penny is just a penny right? People do not even pick pennies up off the street anymore!

I am here to tell you if you would take the $1 Million, you would be picking the wrong choice. Ok, disclaimer: Yes you could take the $1 Million and invest it and get a better return, however that would include risk, which in this illustration does not exist.

Please view the illustration for proof positive to take the penny! After 30 days you would have $5,368,709.12. Yes you read that correctly, you would have an astounding total of over $5 Million. That my friends is compound interest taken to an extreme, but it just goes to show you the power that even amazed Einstein!

How Good Do These Look?

How Good Do These Look??

Interested in how to get them?

All you have to do is refer a friend, family member, or just someone you may know that might be interested in my services.

You may or may not know that I am a Financial Services Professional with MassMutual in San Ramon. I help individuals, families, and businesses in the entire East Bay with their retirement planning, educational funding, and income protection. My goal is your satisfaction in the service I provide and the relief in knowing that your future is secure.

If a friend, family member or an acquaintance that you refer to me becomes a client,

I will send you a worthwhile treat.

I also send these delicious treats out to my clients, so why aren’t you a client yet?

Don’t know anyone… but are interested in my services for you? Call me to set up a free no obligation consultation.

We’ll review your financial plans and goals and determine the appropriate path for you.