Does anyone Know of a Million Dollar Medicare Producer??

[sman]

I'm sorry but you guys are naïve. I hate to do this because we're basically putting Chris out there but many of you have mentioned he has said in a video his renewals are $1 million per year, do you even know how many clients that would have to be renewing in the 13th month, not first your commission. And as I said earlier every four years (estimated) you move clients to a different company which means you lose the renewals but you get first year commission. The number is just over 3700. Can it be done in seven years of course it can. But if every year you wrote 575 clients and after deaths and cancellations you then have just over 3800 clients. But assuming everything is perfect in the world and it was personal production you still wouldn't be making $1 million a year until the beginning of the ninth year, assuming bank draft of course. Again this has nothing to do with Chris this just has to do with the fact that you guys need to look at the numbers deeper. Until you get to the point we you are actually moving three or 400 clients every year to a new company you'll realize your renewals are not actually what they seem they should be. Anyway, do I believe it can be done, of course do I believe that 99.99 % of all agents can do it, NO absolutely not. At that level you need to run this like a business, you need to understand the statistics and the analytics, and be almost perfect in everything you do, along with you better work harder than anyone has ever worked before. And regards to F you money, my point was taken out of context were talking about $1 million per year with the normal 400k but, I am not talking about a billionaire now we would be talking about 01%. ---------- An absolute beast. ---------- I can't highlight the things that I disagree with in your post but let me put it to you this way I didn't say every four years you would lose clients I meant as everyone knows in the Medicare supplement business you move your clients to a new company which takes work and effort and time and that is not a renewal its first year commission. You may say it's all the same thing but clearly you haven't gotten to the point where you're moving 300 clients year it's a full-time gig. Also clearly you haven't gotten to the point in your income level where you said oh my God I just got $24,000 everything is paid for my retirement is set up I don't know what to do and I'm going to get another 24,000 next month and next month and next month and next month. I'm using 24,000 is just a number but it 1 million is $84,000 a month. And I'm not saying you have a windfall and all the sudden get money I'm talking about renewals it goes on for a very long time. So picture what you make today and it pays your bills and your fine you're driving The car or motorcycle you rationalize is the car you want and you're fine with it , and you're doing great. But next month your income doubled and the following month it stayed the same and the same and the same and the same, and you realize it's going to keep happening over and over and over again. And you just realized you could go by the Harley you want for $46,000 cash and it doesn't matter it doesn't change your bank account doesn't change your bills doesn't change anything. You start to realize dropping $6000 for whatever you want changes your bank account or income in no way shape or form. This is my point maybe you understand maybe you don't, but that amount of money that we're talking about most people can't even fathom it. When someone tells me they're comfortable they like driving a cheap car they like having little things and so on and so forth it's because they don't really make the money they act like they make just do the math. Oh and don't forget they like that they're saving money for the retirement. Those are excuses for a person who makes a couple hundred grand a year which is not very much money and it certainly isn't 4000 clients per month

Not sure if the cheap car and retirement comments were meant for me, but since I mentioned them I will assume they were. Most people don't consider $40-$50k cars as cheap cars. Just because a person decides not to spend $100k on a car even though they could doesn't mean they are making excuses. And saving money for retirement isn't an excuse for a person who makes "a couple hundred grand a year". It's called an exit strategy and thinking ahead. While I enjoy what I do, I enjoy other things more. So I need to set aside enough money to continue in my current lifestyle when I decide to shut it down.

I'm not one who is saying Chris makes seven figures in renewals. I don't have a clue whether he does or not. Nor do I care because it does nothing for my bank account.

One last thing, those of us with several hundred (or a few thousand) Med Supp clients choose to be paid as earned so it looks just like a renewal commission. We aren't waiting until the 13th month for the steady revenue stream.

 

[Thad.Sipple]

I dont know if I disagree or agree with that ^^, cause I have no idea what u were trying to say. But it doesnt matter, we can agree to disagree...you have your opinion, I have mines. I know once I reach MY goal of 1000 clients, I will be good at just maintaining my biz, working referrals and working AEP every yr.

One thing I will point out that you keep saying is clients moving every 4 yrs & then they are no longer renewal income....WRONG, I would be (and most ppl in this biz once they reach a certain point) are on "as-earned", so moving a client from 1 company to another would still be renewals. Once I reach 500 clients, Im pretty sure every company Im with will be as earned from that point on. And once I reach 1000....SEMI RETIREMENT baby!!

Fair enough, if you go on as earned that is awesome, but most agents don't, which is what I have been referring too, and when you go on as earned it will effect your immediate income for about 14 months. Also if you ever want to run this as a business and grow, and have an, office and an assistant, FYC is a good thing, cash flow is part of a thriving business.

I do completely see your point.

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Not sure if the cheap car and retirement comments were meant for me, but since I mentioned them I will assume they were. Most people don't consider $40-$50k cars as cheap cars. Just because a person decides not to spend $100k on a car even though they could doesn't mean they are making excuses. And saving money for retirement isn't an excuse for a person who makes "a couple hundred grand a year". It's called an exit strategy and thinking ahead. While I enjoy what I do, I enjoy other things more. So I need to set aside enough money to continue in my current lifestyle when I decide to shut it down.

I'm not one who is saying Chris makes seven figures in renewals. I don't have a clue whether he does or not. Nor do I care because it does nothing for my bank account.

One last thing, those of us with several hundred (or a few thousand) Med Supp clients choose to be paid as earned so it looks just like a renewal commission. We aren't waiting until the 13th month for the steady revenue stream.

I did not read your post only first sentence. NO they were not towards you or anyone in particular. I know you understand my points, whether you agree or not is not the point, this isn't 7 years in I am rich. We all must understand those taunting their income are usually marketers.

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Fair enough, if you go on as earned that is awesome, but most agents don't, which is what I have been referring too, and when you go on as earned it will effect your immediate income for about 14 months. Also if you ever want to run this as a business and grow, and have an, office and an assistant, FYC is a good thing, cash flow is part of a thriving business.

I do completely see your point.

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I did not read your post only first sentence. NO they were not towards you or anyone in particular. I know you understand my points, whether you agree or not is not the point, this isn't 7 years in I am rich. We all must understand those taunting their income are usually marketers.

I now read the rest, I think you would agree that 99% who talk the talk, are usually in a wheelchair. Secondly most agents don't go on as earned, mostly because they are cash rich and bank poor. Also you are one of the smart ones, so your example sucks, (it sucks cuz most are not like you)
but is an example most should try and follow.

 

[Bevo]

I would be (and most ppl in this biz once they reach a certain point) are on "as-earned", so moving a client from 1 company to another would still be renewals. Once I reach 500 clients, Im pretty sure every company Im with will be as earned from that point on. And once I reach 1000....SEMI RETIREMENT baby!!

Good point, it's all money in the till, whether you switched to as-earned or still take the advance. But of course, the OP mentioned residuals specifically so this isn't entirely splitting hairs.

I see no reason to switch to as-earned. Most companies advance with zero percent, and money today invested is better than money spread over 12 months.

Charge backs are so minimal it's absolutely worth it IMO.

 

[Thad.Sipple]

Ok here is real advice that I believe in. So if your new or not, don't listen to the hype or the marketers.

Wake up at 4:30 am every morning Monday thru Saturday for 10 years straight. Eat well and exercise, do not drink during working hours, on non working hours do not get buzzed ever. It clouds judgment and makes it hard to get up at 4:30.

Work from 5:30 am to 6:30 pm Monday thru Saturday for 10 years straight. Work means sell, build, crunch numbers, do what everyone else will not. Focus on building a business a self sustaining business.

Do not indulge at ALL for 10 years straight, that includes cars, watches, house, vacations, boats, motorcycles etc. Have 1 car that you own, rent cheap, impress no one.

Become a corporation. DO NOT co-mingle money. Pay yourself a W-2 wage, regardless what all the experts say. You will not get into IRS trouble. Start a retirement fund from day one. Just $100 per month. Have health insurance.

That is it. It doesn’t matter what insurance you sell.

 

[Bevo]

Ok here is real advice that I believe in. So if your new or not, don't listen to the hype or the marketers.

Wake up at 4:30 am every morning Monday thru Saturday for 10 years straight. Eat well and exercise, do not drink during working hours, on non working hours do not get buzzed ever. It clouds judgment and makes it hard to get up at 4:30.

Work from 5:30 am to 6:30 pm Monday thru Saturday for 10 years straight. Work means sell, build, crunch numbers, do what everyone else will not. Focus on building a business a self sustaining business.

Do not indulge at ALL for 10 years straight, that includes cars, watches, house, vacations, boats, motorcycles etc. Have 1 car that you own, rent cheap, impress no one.

Become a corporation. DO NOT co-mingle money. Pay yourself a W-2 wage, regardless what all the experts say. You will not get into IRS trouble. Start a retirement fund from day one. Just $100 per month. Have health insurance.

That is it. It doesn’t matter what insurance you sell.

Awesome advice.

 

[Thad.Sipple]

Awesome advice.

My buzz wore off, in about an hour I will stick my foot in my mouth again.

 

[TDFnCali]

Good point, it's all money in the till, whether you switched to as-earned or still take the advance. But of course, the OP mentioned residuals specifically so this isn't entirely splitting hairs.

I see no reason to switch to as-earned. Most companies advance with zero percent, and money today invested is better than money spread over 12 months.

Charge backs are so minimal it's absolutely worth it IMO.

Thats true, very lil charge back in medicare....Im so used to FE where I started. Maybe everything ELSE will be on as earned & medicare still advance, who knows? Itll be a good problem to have once I get to 500....which I estimate will be between Jan-Jun 2018.

 

[Thad.Sipple]

Thats true, very lil charge back in medicare....Im so used to FE where I started. Maybe everything ELSE will be on as earned & medicare still advance, who knows? Itll be a good problem to have once I get to 500....which I estimate will be between Jan-Jun 2018.

Dude you will totally get there. You have a plan and your are working towards it, FE made you thick skinned so this is easy, just a slow ride.

 

[Daytona_Guy]

It's actually just over $83k per month and yes, it's possible.

I study marketers and implement what I learn for a living.
One recently caught my attention when he spoke about the "new middle class" and he also touched on this very topic of dumping stupid money on fancy cars..

Here's my edited version, to save time:



As to taxes, one of, perhaps, the dumbest things I could have done was move from a 0% income tax State of Florida to 7% unlimited income tax in South Carolina. #dumb

Someone posted a link to the video on my site where I mentioned that while sitting by the pool on Memorial Day weekend. The point was not to brag, but to invite other agents to hear exactly what I've been doing in my business for the last two years that made it possible.

If you're happy right where you are, and MANY folks here are - awesome!
I would not change a thing!

You guy are funny clearly no one who has posted makes over 300k.

If you think you make a lot, ask yourself. Can I drop 120k cash on any car I want and you say to yourself "self who the f cares, next month I'll have another 70k hit account".

 

[Thad.Sipple]

It's actually just over $83k per month and yes, it's possible. I study marketers and implement what I learn for a living. One recently caught my attention when he spoke about the "new middle class" and he also touched on this very topic of dumping stupid money on fancy cars.. Here's my edited version, to save time: Video Link: http://www.youtube.com/watch?v=X8cI0vR6YW4 As to taxes, one of, perhaps, the dumbest things I could have done was move from a 0% income tax State of Florida to 7% unlimited income tax in South Carolina. #dumb Someone posted a link to the video on my site where I mentioned that while sitting by the pool on Memorial Day weekend. The point was not to brag, but to invite other agents to hear exactly what I've been doing in my business for the last two years that made it possible. If you're happy right where you are, and MANY folks here are - awesome! I would not change a thing!

And the dude is still the man.