In
the past week, we’ve had several agents ask us how our systems are working. “Are
the agents still having the tremendous success using the Found Money
Management™ Concepts, with home equity?” We didn’t realize it
initially, but what they were really asking us: “Is, with the climbing mortgage
interest rates, (and declining home values) does the Found Money Management™
system still work?” The answer is a resounding… Yes!!!
Unlike many of the home
equity management systems (like Missed Fortune) being taught and used out there
with prospects, the Found Money Management™ system isn’t about
harvesting home equity to invest into life insurance. In fact, many of the cases
do not involve refinancing at all, even when mortgage interest rates are low.
The Found Money
Management™ system is all about helping people to solve their
financial problems, by helping people to find and freeing up the money that most
people are spending unnecessarily in many ways. They may be spending money
unnecessarily on lower insurance deductibles, unnecessary riders, unneeded
policies, high finance charges, auto leases, income taxes… and the list goes on
and on.
Found Money
Management™ is about helping people to see and understand the
problems they are facing today and in the future, and then helping them to
establish a clear set of financial priorities to solve those problems. (And,
as you’ll see in the second example, when using home equity properly, higher
interest rates are not really a problem.)
And, in most cases,
families can do it all without taking additional money out of their pockets or
changing their current life style!
Here are some quick
examples…
We were coaching an
Allstate agent the other day and we asked him what he had for a deductible on
his auto insurance? He told me $500. We asked him how much money he would save
each year, if he raised the deductible to $1,000. He ran a quote right then and
there for himself and found that he would save over $700 per year. He was
shocked. And, that was on just for one of his autos. If he puts that savings
away each year for him and his family, how much better off are they? Could he
find and free up even more money if he looks at all his insurance policies and
determines which riders, deductibles, waiting periods, etc. are really needed?
Another example:
An agent was telling us that he had met with a family who had just refinanced
their home for a lower 30-year fixed interest rate. To get that lower rate they
could only take out a mortgage for 70% of home’s value. They couldn’t refinance
right now without incurring a penalty and more refinancing costs. However, they
still had over $40,000 of equity in their home. He didn’t know how he could help
them.
After reviewing the
case, we suggested he help them to take out the home equity with a HELOC (Home
Equity Line Of Credit) to pay off their two auto loans and credit card debt, all
totaling approximately $30,000. The agent was concerned that the interest rate
on the HELOC could rise.
Let’s think about it…
Even, if they had to
borrow the $30,000 at 12% right now, (instead of the current 7%-8%) wouldn’t it
only cost them $3,600 per year, or $300 per month? If they paid off the two auto
loans and the credit card debt they would save almost $1,000 in current
payments? So, wouldn’t they still have a difference of almost $700 per month to
put away for their children’s education or their retirement? ($1,000-$300) Plus,
can they write off the interest for the car loans and credit card debt on their
income taxes? …No! Can they write off the interest on the HELOC? …Yes! Have you
really helped these people, without asking them to spend additional money or
change their current life style?
The above examples are
just two very quick ideas of how you can really be helping people, even with
climbing mortgage interest rates. As you can see Found Money Management™
is about helping people to reposition money and is not about harvesting home
equity to invest into life insurance.
Isn’t it time you learn
how to help your family, friends, clients and prospects to ‘Live Debt Free
and Truly Wealthy’, without taking additional money out of their pockets, or
changing their current life style!
And consider, if people
just save $700 per month, that is $8,400 per year they can put into a life
insurance policy. That’s a commission of over $5,000! If you write just two
cases per week that would be over $500,000 of income per year.
It Doesn’t Matter
whether you are using the LEAP, Missed
Fortune, Infinite Banking, Circle of Wealth, or one of the various ‘College
Funding’, ‘Equity Management’ or
‘Mortgage Early Payoff’ sales systems. Our 12
breakthrough marketing strategies, in the
Found
Money Management™
'Advanced' Life Insurance Sales Success Tool Kit,
with our live personal 'one on one' coaching will
put you in front of more of the 'RIGHT' life insurance prospects in one month,
than most agents will see in an entire year.
And, when you really learn how to
help your prospects to find the money to fund the strategies in those systems,
you'll consistently close more and larger sales.
We’ve been using and
teaching agents the same ‘Cutting Edge’ concepts found in Infinite Banking,
Circle of Wealth, Missed Fortune and LEAP Systems for three decades... long
before they wrote their books or created their $4,000 to $10,000 systems!
There is a reason why over 30 of
the most trusted and respected names in this industry, the IARFC
and hundreds of successful advisors highly recommend our Found Money Management™ marketing and
sales training.
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