Producers: What Does It Take to Make 50k Plus Your First Year?
- Thread starter bonsaikc
- Start date
- 15,319
- 14,809
Even better would be Romney's rate of 15%.
wjw0006
Expert
I don't fault Romney - he's already been taxed on that money that he is now being taxed again on at 15%! Oh, and when he dies that money will be taxed yet again.
Correct, but he didn't say $50K net, I assume he meant gross.
I was more just trying to point out that there are expenses, and not just a few hundred dollars when you talk P&C. A lot of agents will want $50K, write a business plan for $50K, and not account for the $25K in expenses involved in the plan. Its easy to say that you are going to work 10 internet leads a day, 5 days a week, which sounds great till you realize that is 50 leads a week at $10 a lead, $500 a week, $2000 a month, and hopefully you make enough to pay for them.
Dan
- 15,041
That is absolute BS. Capital gains is a tax on the GAIN in an asset. You are not taxed on your basis.
There was some validity to this with dividends. The corporate is taxed and the profit is what is left, and then the dividends were taxed again as income to the recipient. But for capital gains that come from the selling of an asset, that is the first time that money was taxed.
wjw0006
Expert
I do not agree. Here's why.....lets say you have a job that pays you your salary. That is taxed obviously. Then you buy an asset with money that has already been taxed. That asset that was already purchased with money that was taxed then increases in value. As a capital gain it is then taxed again, albeit at a lower rate usually.
Then people scream about nobody paying their fair share. Wait a minute, more than 50% of the people don't pay any taxes to begin this. This leads one to conclude that the people that are screaming about this must be made up of at least 50% that do not pay any taxes, although probably a much higher percentage that that. It's not fair, it's not fair they yell.....Yet that money has already been taxed multiple times already while a majority of the country does not pay a dime. How many times and at what percentage would it have to be taxed for it to be "fair" in the eyes of those stating it's not fair?
Then people scream about nobody paying their fair share. Wait a minute, more than 50% of the people don't pay any taxes to begin this. This leads one to conclude that the people that are screaming about this must be made up of at least 50% that do not pay any taxes, although probably a much higher percentage that that. It's not fair, it's not fair they yell.....Yet that money has already been taxed multiple times already while a majority of the country does not pay a dime. How many times and at what percentage would it have to be taxed for it to be "fair" in the eyes of those stating it's not fair?
Alright somehow this thread took a wrong turn.
You said you were looking for the nuts and bolts..
You need a solid marketing plan. You need to have at least five different strategies going on at once to bring in new business. An example of this would be 1) cold calling 2) direct mailing 3) lead purchasing 4) referrals (realtors, mortgage reps, car salesman) 5) Hosting events or seminars.
Doing these things consistently will separate you from the competition.
Remember in this business for the first 3 years you are over worked and underpaid and then from there on it is the opposite.
You said you were looking for the nuts and bolts..
You need a solid marketing plan. You need to have at least five different strategies going on at once to bring in new business. An example of this would be 1) cold calling 2) direct mailing 3) lead purchasing 4) referrals (realtors, mortgage reps, car salesman) 5) Hosting events or seminars.
Doing these things consistently will separate you from the competition.
Remember in this business for the first 3 years you are over worked and underpaid and then from there on it is the opposite.
