What if you could generate tax-free income in retirement? A diversified retirement portfolio can help lessen your tax burden, protect your nest egg, and provide financial peace of mind in your later years. We hear clients often say that although they have most of their money in tax-deferred accounts, they actually hoped more of their money was in their tax-free bucket. This is where life insurance comes into play. Cash-value life insurance is a great way to increase the value of your tax-free bucket. Further, a funding strategy known as hybrid leveraging can help you maximize the growth potential of a cash-value life insurance policy.

In this episode of Money Script Monday, Luke explains the difference between getting taxed now versus later and the benefits of using hybrid financing to purchase a cash-value life insurance policy.

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It was around 10 years ago when LifePro first dove into college planning. During this time, it was difficult for our advisors to find qualified prospects during the college season “off season” due to the industry’s sole focus on promoting in-person seminars and workshops. Advisors were spending up to $10,000 per event using direct mailers to try to get people to show up, and there was no guarantee that they would find prospects who met their target demographics. In 10 years, we’ve been able to optimize our marketing strategy to help our advisors get in front of the right prospects for a fraction of the cost that they were used to seeing. A big factor in that was our shift to digital marketing when the panemic hit, which has completely transformed the way business is done. Today, we’re able to get advisors in front of qualified prospects for $8-$10 (on average) per RSVP.

In this episode of Money Script Monday, Gabe challenges you to re-consider the college planning “off season” and presents an incredible opportunity to tackle your 2023 production goals.

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How do you show, rather than tell, interested prospects and clients how money works? What prospect data do you collect to create custom reports and financial plans? Every opportunity that you have to meet with a client is your chance to close a sale. Clients are inundated with generic financial advice and won’t implement a plan unless it’s from a trusted financial expert and the plan clearly addresses their goals. Circle of Wealth® provides you with the tools and training to be seen as a trusted expert so you can confidently deliver reliable financial strategies to your clients.

In this episode of Money Script Monday, Sal explains how to utilize this powerful communication tool to provide tailored financial solutions that can result in a sale.

Call Your FSR for a Software Demo

Do you want to see more of the Circle of Wealth® Software? Sal was only able to scratch the surface! Get in touch with your Field Support Representative (FSR) today to receive a personal walk-through of the most powerful communication tool in our industry. We'll strategize on how you can use the software to triple your production in 2023.

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Have you ever wondered how an insurance company makes money through an annuity sale … how it’s possible that there are no fees charged inside a contract … Or how the advisor you work with is compensated? These are all reasonable questions to ask especially considering the popularity of annuities among pre-retirees looking to establish guaranteed income in retirement.

In this episode of Money Script Monday, Kyle dispels the most common annuity myth and explains what an insurance carrier does with the money you pay into a policy.

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Insurance is a way to protect the things that matter most to you. Did you know that annuities can be thought of as insurance for your income stream in retirement? There are many things near and dear to us now for which we have insurance. If you are currently either owning a house or renting, you need to have home owner’s insurance and/or renter’s insurance. If you own a vehicle, you need to have auto insurance in order to drive the car around. If you’re in your working years, you might have a medical plan or some sort of disability insurance.

In this episode of Money Script Monday, Michael explains how you can use an annuity to create an additional stream of income in retirement similar to a social security or pension plan.

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Parker Obert Highlighted in Broker World Magazine

When was the last time you bought a product, online or in-person, without looking it up on Google first?

Nowadays, utilizing our access to information at the tips of our fingers has become second nature, whether you are asking Siri what top-rated restaurants are nearby or searching for YouTube reviews on the latest Marvel movie.

Say you are going to Best Buy looking to buy a laptop, and when you walk in you realize there are dozens of brands and models to choose from. On the surface they basically perform the same functions besides a few bells and whistles. But this begs the question: How do you choose the laptop that is best for you?

There are a couple of different approaches you can take. Some people may think that the most expensive laptop is obviously the best, while others may only consider buying the cheapest option under the assumption it performs all the same core tasks.

While these are both approaches you can take, they are not very effective at choosing what is best for you. A common practice for retail shoppers is finding a product of interest, pulling out their smartphone, typing in the brand or model, and seeing what shows up on Google. It could be a YouTube video, a blog review, etc.

Let’s take a step back. Maybe you’re not looking for a laptop; maybe you’re going to a restaurant, maybe you’re going to a movie, or maybe you’re looking for a financial advisor.

From the customer’s perspective, a financial advisor is someone that is looking out in the best interest of their client. Clients or potential prospects expect to trust their financial advisors with all their money and assets and hope the advisor can help them reach their financial or retirement goals and well-being.

If someone looks up a financial advisor’s name on the internet, they could find a book they’ve written and published on Amazon, or maybe a TV interview; maybe the first result is a professional and welcoming LinkedIn account.

To view the full article, please click here: View Article in Broker World Magazine »

It’s no secret 2022 has been a year of inflation, interest rate increases, and stock/bond market volatility. We’ve seen everything from a 40-year high increase in the CPI, the highest mortgage rates in almost two decades, and the worst start to the 60/40 portfolio ever.

In fact, according to Bank of America’s data, $22 Trillion has been lost in the financial markets this year, with risk assets hit especially hard. As we turn the page to 2023, it’s crucial to understand where we’ve been and, more importantly, where we are going.

In the Fed’s attempt to subdue stubborn 40-year high inflation, rising interest rates significantly increased borrowing costs while also increasing rates on interest-sensitive savings products. One of the biggest benefactors of these rate increases was fixed annuities. In fact, LIMRA reported Q3 22 non-variable annuity sales climbing 75% year over year to $56 billion.

Seeing their investment and retirement accounts decimated, certain savvy clients took the opportunity to de-risk a portion of their portfolio prior to what most believe will be a rocky, recessionary year in 2023.

Not only helping prevent future stock/bond losses but also locking in some of the highest annuity rates we’ve seen since the run-up to the 2008/2009 Great Recession.

Recently BlackRock, the largest asset manager in the world, released their 2023 Global Outlook and stated, “equity valuations don’t yet reflect the damage ahead, in our view. We find that earnings expectations don’t yet price in even a mild recession.” BlackRock was joined by other major investment banks, Goldman Sachs, Bank of America, and Citi calling for a recession in 2023 with a negative outlook on equities. Citi bank forecasts “rolling country-level recessions during the coming year” and is “expecting new lows for equities in 2023.”

It’s not all doom and gloom.

There have been some positive developments recently. The US Consumer Price Index has fallen over the last five months after peaking at 9% over the summer. The most recent November 22 CPI data came in at 7.1%, the lowest since December 2021.

Due to the pullback in inflation readings, the Fed has tipped its hat to a slowdown in rate hikes with the potential to stop the increases in 2023. As a result, 30-year fixed mortgage rates have pulled back from over 7% down into the mid to high 6% range, offering some relief on the borrowing side.

The 10-year treasury, a popular benchmark to gauge interest-sensitive products, peaked in mid-October at around 4.23%. Since then, the 10-year has dropped to about 3.5%, causing a reduction in yield on insurance companies’ investments and, in turn, lower benefits to annuity purchasers.

The good news is annuities, especially Fixed Indexed Annuities, are repriced less frequently than mortgages, fixed-rate annuities, and SPIA’s.

While we’ve already seen a noticeable decrease in borrowing rates and some fixed annuities, most insurance companies have yet to reprice their FIAs at the new lower rates. While nothing is guaranteed, we expect FIA rates to stay strong throughout the rest of 2022, with the likelihood of a meaningful reduction early in 2023.

Many of us remember rushing to our mortgage broker back in 2020 to refinance debt at some of the lowest interest rates we may ever see in our lifetime.

We’re seeing a similar situation today where clients are flocking to their insurance agents and financial advisors to lock in, what many believe, could be peak annuity rates heading into what major investment banks predict will be a tremulous year.

With still a few weeks left in December, our advisors are having one of their best annuity submit months!

Don’t pass up this opportunity, and please let LifePro help you get the word out to your clients and prospects. We have a ton of free, turn-key content available to you through our hundreds of Money Script Monday episodes and outside resources such as the Alliance for Lifetime Income.

As a partner with LifePro, you have access to a custom, branded Money Script Monday page for each episode that is unique to you and your business.

As we wind down 2022, it’s essential to stay active and continue to market so we can help ensure a strong finish to the year and set us up for success as we head into 2023.

Contact LifePro Today!

Give your Field Support Representative (FSR) a call at (888)- LIFEPRO, and they will walk you through these concepts, including the latest annuity rates, and how we can help grow your business!

Advisory Services offered through LifePro Asset Management, LLC Registration does not imply a certain level of skill or training. The information presented here is not specific to any individual's personal circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials.

Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Fixed Index Annuities are designed to meet long-term needs for retirement income, and they provide guarantees against the loss of principal and credited interest, and offer the reassurance of a death benefit for your beneficiaries. Income benefit riders may be offered either built-in or for an additional cost. Although external indexes may affect contract values, a market downturn cannot reduce your credited interest or principal. The contract does not directly participate in any stock, bond, or investments. You are not buying any bonds, shares of stocks, or shares of an index. The market index value does not include the dividends paid on the stocks underlying a stock index. These stock dividends are also not reflected in the interest credited to your contract. Before any decisions are made regarding your client’s financial situation, your client’s individual circumstances and objectives should be discussed. There are many factors to consider.

The views expressed herein reflect the views of LifePro as of 12/14/2022. These views may change as conditions change. The views expressed herein are not intended and should not be construed as investment advice and they do not address any individual’s specific situation. For Agent/Advisor Distribution Only - 2640508 - 121422

Sources:
https://finance.yahoo.com/news/blackrock-says-throw-old-investment-190219280.html
https://finance.yahoo.com/news/citi-recession-global-economy-2023-132128461.html
https://finance.yahoo.com/news/bank-of-america-us-equity-outlook-stock-market-165556408.html
https://www.goldmansachs.com/insights/pages/why-the-bear-market-in-global-stocks-is-forecast-to-get-deeper-in-2023.html
https://www.thinkadvisor.com/2022/10/27/fixed-annuity-sales-rocket-higher-in-q3/

Social Security, as most of us know, is a federal government-sponsored form of supplemental retirement income. You pay into it during your working career, and when you reach retirement age, you can tell the government to start your stream of income. Did you know that there are over 80 different ways a married couple can take Social Security benefits? It’s crucial to work with your financial professional to create a strategy that can help you maximize your Social Security benefits. Since Social Security typically only cover 40% of the pre-retirement income you’ll need in retirement, it’s also vital to uncover additional sources of income that you can’t outlive to bridge the gap between social security income and a dignified retirement.

In this episode of Money Script Monday, Adam explains how you can supplement Social Security income to help reduce the chances of outliving your money in retirement.

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• [PDF] Retirement Ready: Fact Sheet

Annuities can be a great addition to a retirement income portfolio if they are structured correctly. You can think of it as insurance for your retirement income. If you have insurance on your house, car, and health, then why wouldn’t you do the same for your retirement?

In this episode of Money Script Monday, Michael addresses the most common misconceptions about annuities and breaks down how they can help generate income for life.

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Sara Sullivan Highlighted in Broker World Magazine

It’s 9:00 pm on a Thursday evening, and you’re just wrapping up one of your most triumphant dinner seminars yet. Your speaking game was on fire, your rapport with clients unmatched, and appointment request cards were stacked by your side at the end of the night. After you pack up your gear and make several trips to the car, you survey your room one last time and head for home.

When you finally make it to bed around 11:00, you attempt to sleep but the adrenaline rush of the night simply will not dissipate. On top of that, the Sunday Scaries have come early: You’re still wide awake at 3:30 am, thinking of all that needs to be accomplished the next day. How can you possibly maximize the potential of your event if you’re alone and running on fumes? “The hard part” has begun.

This real-life situation is just one of the many examples that inspired the writing of this article. Within the last several months I’ve received phone calls from too many producers that sound so unbelievably frazzled about things that are going on in their worlds. One of them said, “Gosh I really wish I had an assistant!” Another advisor jokingly said, “Will you please come be my assistant?”

So, that got my mind spinning in a creative direction and I thought about my past almost-20 year career at LifePro, and how the useful tools I’ve learned should be passed on. Not only have I been an executive assistant to two leaders at LifePro, but I’ve also helped with the interview and hiring process over the years. I work daily with the assistants of our top advisors. My experience with how much a rock star assistant can be an asset to your practice is something I don’t want to keep to myself! Without further ado, the following are my recommendations to help galvanize your decision to acquire a top-notch assistant.

To view the full article, please click here: View Article in Broker World Magazine »