Save & Grow
How much should someone have in emergency funds
6-12 months of expenses
What age can you begin to pull from IRA/qualified assets without penalty?
59 1/2
What does LTC stand for?
Long Term Care
Who is the only person that any asset can transfer tax free to?
spouse
What are the 4 Pillars?
Grow, Secure, Protect, Pass
What index do we track when we are referencing market performance?
S&P 500
What age do RMD's start?
73
What type of product do we use to protect from unknowns?
Insurance
What is a contingent beneficiary?
The beneficiary if something happens to the primary
WKA minimum requirements
set time, 50k investable opportunity, and completed Discovery conversation
What is the minimum time commitment I am looking for to invest?
3 years
What is the earliest and latest you can start collecting social security?
62/70
Term is like renting while Whole is like owning
What legal vehicle allows a third party to hold and direct assets?
A Trust
What are examples of qualified assets?
IRAs, Roth, 401k, 403b, 457, etc
What are at least three types of products I can offer
Managed Money, Structured Notes, Annuities, Insurance, SBL, Mutual Funds
What age does someone qualify for Medicare?
65
How is a death benefit taxed?
Tax Free
What does being a beneficiary bypass?
probate
What is my monthly sales goal?
1M
What does allocation mean?
split between stocks and bonds
What are the three actions someone has if they have a low success rate to retire?
work longer, spend less, save more
What is an example of uninsurability?
age or illness
How many years do you have to withdrawal from a qualified inherited account?
10
How would you overcome the objection of someone saying they already have an advisor?
position the four pillars