You’re not getting 25% unless it’s a self generated lead or other high quality lead. For $7 a lead, you’ll be lucky to get a 10% closing ratio. Hell, 50% of them won’t ever answer the phone.
Making it through the first year
- Thread starter BrandonPaul
- Start date
You’re not getting 25% unless it’s a self generated lead or other high quality lead. For $7 a lead, you’ll be lucky to get a 10% closing ratio. Hell, 50% of them won’t ever answer the phone.
This is a little sticky.
Ideally, you'd want to have both personal and entity licenses in all states but as you inferred, it will double your licensing fees and admin.
That being said, if you keep separate business accounts, have an established LLC, file as an S corp, pay yourself a payroll (w2) wage via paychex (or whoever) AND have a bookkeeping service and a CPA who will reconcile everything appropriately, it is doable. It's just a little messy.
I think you'll find that structuring your business the right way from go is the best option but most can't afford that to start with (I couldn't) so we work with band-aids and glue until we get there.
Your tax savings alone will probably cover the extra licenses though...
When addressing bragging on yourself, my first District Manager would say, "He that tooteh not his own tooter shan't have his tooter tooted".
"He that tooteh not his own tooter shan't have his tooter tooted".
When addressing bragging on yourself, my first District Manager would say, "He that tooteh not his own tooter shan't have his tooter tooted".
The top 100 Humana Amassador agents get invited to a 3 day meeting . With 232 apps this yr if I get snubbed it will destroy my confidence!!!! Lmao .
I'm going to call my accountant on Monday. He's sure to confuse me even more than you did. Love him but he does not speak layman's terms in at all. Plus I am totally ignorant to all this stuff ATM. I'm not even sure he would understand the nuances of an individual vs a entity specifically for insurance agents but he very well may. Do you happen to know if the appointment fees for UHC/Anthem are higher for an entity? The sheet I have indicates "Agency" and not sure if agency and entity are used synonymously.
No need to do am LLC till your NETTING over $50k plus a yr . The expense of added accounting and licensing offsets any tax savings with that little amount .
This is what my 80 yr old Aunt Gussie said. She's been a successful CPA for 50 yrs. She still works. BUT, she said the S corp part is not necessary until you are making 100k +. She said that's when the tax benefits would kick in. Not my forte, I still have questions on this.
It is sticky Tahoe...most people don't bother with all that until down the road a bit. To each their own.
Update on my first year so far. I'm in month 9, goals are on track but not without blood and sweat, and well, no tears yet, but I could see where that could happen. Probably no tears, bc I am only new to the Medicare part, not the grind of ins in general---there were tears back then in the first year U65. haha.
Note to self and any other newbies who choose to work another job while building: don't drop the ball on marketing even if other job gets in the way. A SOLID marketing plan is a must or no way for this to work.
Working my day property mgmnt job while doing this is proving to be challenging. I'm feeling my age some days. No time for chilling during any weekday at all. I won't bore ya'll with all of that, but it entails at least 4 dif govt agencies....including 3 different courthouses in 3 different counties--a couple other state licensing agencies---loads of paperwork. I was exhausted as hell by friday last week. It's getting harder, bc we just inherited an apt complex equipped with a few meth heads that need put out. I keep this job by choice, bc there's a built in minor lead pool at a few of the places quite a few seniors or close to that age...and a free office, eventually I'll hire someone else part-time.
I would go just drive a taxi (Vic), that actually sounds like a great idea some days. Was smart Vic. Not sure how that'd work out now with gas so high, but was a great idea for b4 ridic gas.
The hardest part I am finding is the learning all the ropes as I go...I know all the basics, but every week something else needs to be figured out (DME, differences btwn Rx formularies, why isn't this doc in the network on physician finder even though doc office says they take it, whoa wait a minute, Aetna/HAP not in that county, all the variations btwn dental which sucks anyway...I mean tons of little things that people learn as they go). It's not so much the two jobs colliding each and every day, it's the non-stop learning. some days I feel like I'm in college again. Oh, need to get CEC done asap. Well it's all of it...it all can be challenging. All the easy little CS calls often done in car from courthouse to courthouse or place to place.
Whoever those dudes are out there that say, "do medicare, make money fast" are so full of it.
It's a new week. And won't be a dry week. My keep it simple way of doing it is "no dry weeks"...2 to 3 a week. Think Mommy Dearest--NO WIRE HANGERS (no dry weeks)--just kidding but feels like it some days. Not always easy, bc I'm not a big baller.
Just thought I'd share. YES IT'S a GRIND! And it's monday. gotta go work on something....should have an enrollment (or two) by days end and need it to stay on track.
Note to self and any other newbies who choose to work another job while building: don't drop the ball on marketing even if other job gets in the way. A SOLID marketing plan is a must or no way for this to work.
Working my day property mgmnt job while doing this is proving to be challenging. I'm feeling my age some days. No time for chilling during any weekday at all. I won't bore ya'll with all of that, but it entails at least 4 dif govt agencies....including 3 different courthouses in 3 different counties--a couple other state licensing agencies---loads of paperwork. I was exhausted as hell by friday last week. It's getting harder, bc we just inherited an apt complex equipped with a few meth heads that need put out. I keep this job by choice, bc there's a built in minor lead pool at a few of the places quite a few seniors or close to that age...and a free office, eventually I'll hire someone else part-time.
I would go just drive a taxi (Vic), that actually sounds like a great idea some days. Was smart Vic. Not sure how that'd work out now with gas so high, but was a great idea for b4 ridic gas.
The hardest part I am finding is the learning all the ropes as I go...I know all the basics, but every week something else needs to be figured out (DME, differences btwn Rx formularies, why isn't this doc in the network on physician finder even though doc office says they take it, whoa wait a minute, Aetna/HAP not in that county, all the variations btwn dental which sucks anyway...I mean tons of little things that people learn as they go). It's not so much the two jobs colliding each and every day, it's the non-stop learning. some days I feel like I'm in college again. Oh, need to get CEC done asap. Well it's all of it...it all can be challenging. All the easy little CS calls often done in car from courthouse to courthouse or place to place.
Whoever those dudes are out there that say, "do medicare, make money fast" are so full of it.
It's a new week. And won't be a dry week. My keep it simple way of doing it is "no dry weeks"...2 to 3 a week. Think Mommy Dearest--NO WIRE HANGERS (no dry weeks)--just kidding but feels like it some days. Not always easy, bc I'm not a big baller.
Just thought I'd share. YES IT'S a GRIND! And it's monday. gotta go work on something....should have an enrollment (or two) by days end and need it to stay on track.
Oh I did that before uber, and at the beginning of uber, Now uber killed that industry,
But you get the idea, there are many of that type , Waiter/waitress, Bartender, come to mind, and other cash type jobs where you have some flexibility of hours, And makes enough for the day, and can work nights so you can work buis days
Similar threads
