According to “The Millionaire Next Door” by Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D., self-employed individuals account for two-thirds of the millionaires in the U.S. These millionaires are your neighbors, your auto mechanic, the local dry cleaner and maybe even the neighborhood handyman. You won’t necessarily recognize them right away, as most live well below their means in modest homes, driving modest cars and otherwise maintaining a low profile. In fact, most of the assets these individuals possess are tied up in their businesses and are generally not liquid. As their preferred local agent, you have the opportunity to position survivorship life insurance as an option for meeting more than just their estate tax needs.
Eloise Glaspie, CLU, ChFCAgency Development and Education Manager - 2/2 - Creative Edge
When Less Is More
During their golden years, retirees face many significant lifestyle changes. Some are positive, like gaining the ability to spend more time on the golf course or at the bridge table, more time playing with the grandchildren or gardening, more time reading or writing their memoirs, and more time taking long drives in the country or trips abroad. In essence, many retirees enjoy more of so many things they have spent their lives working toward and anxiously awaiting. In fact, they seem to have more of everything – except INCOME.
