They are considering all options. One of their options, is to continue with the 40/40/40 plan. Their existing plan. Therefore, you have to create doubt that is a good plan.
Attack their existing plan for life. Attack:
- Fear for retirement. Point with vivid detail they do not have enough money for retirement. The average retirement requires 1.3 million (AVERAGE). Most folks, even if they are doing well, have less than 500k. I believe the national average for a 50 year old is 50k or less. What does the really mean: o Working at walmart or being a crossing guard. Tell a story about a broke 65-90 you know, and how terrible life is. Paint the picture. o Golden years, for many has no gold. How many want to travel, how many want give back, home……? You need more the 300k in your retirement to get there. o 1 of 3 people will retire on 900-1200 a month on social security.
- Fear stock market will crash, unless you know how to profit from it. Stock market goes up for 4/5 years on average, then crashes, 18 months usually of a down cycle. Remind them of 2008 CRASH. They lost 30-40 of their account. Drive home the pain. Drive home. YOU MUST take control of your account. Self Direct. Diversification to real estate.
- Fear they are going to miss the real estate cycle. Show the cycle. Demonstrate the how indecision will steal you blind. Opportunity cost of missing out.
- Fear of eating dog food, in later years. Use news stories to point out how old age can be a major challenge.
- Fear of death. You really do not have the time. The purpose the 80 year close (boxes) is to drive this point home.
- www.deathclock.com Is showing them they do not have much time.
- A story of loved one dying (early or all of a sudden). Drive home, we never know.
- Fear of making a mistake. Losing 50k on deals. If you teach them something, take it away with a caution, or mistake they can make. üü Wrong contracts. Cost 1000’s. Blowing a deal.
- Missing out on a bonus. Reward for action. Bonus if they take action now. Something they do not get otherwise (I am working on this). Conditioned response. Only a few get this deal. Give stuff away. Only a few receive. I remind you I give bonus to go to the back. Why? To condition the emotional state of missing out. Or reward.
- Fear of passing on the JOB curse.
Do for your family and the next generation
- Do not pass along the generational curse of working for a living. Break job bondage.
- Do want them to work for 30 plus years, before they make a change?