A 3 Part Framework for Every Big Decision
The 3 Parts:
Evaluate the Opportunity - What happens if this works?
Analyze the Downside - What is the worst realistic outcome?
Assess Adaptability - Can this be adjusted if conditions change?
Investing in technology, changing your client onboarding process, hiring your next employee, or spending money on a new prospecting system... These are decisions that advisors face on a regular basis. To pursue these or say no doesn't have to leave you wondering "what if?".
Entrepreneur provides a 3 part framework that can be used to evaluate any big decision. It'll leave you with clarity instead of that "what if?" feeling. You can read the full article HERE
A few things I'd like to highlight:
Start with the upside. Change comes with risk, but starting with the risks can lead to burning a good opportunity before it ever gets going.
A decision doesn't have to be all or nothing. Spend $10k to test a new prospecting system instead of committing to $50k.
To pivot or persevere. Learn to identify what's a temporary setback vs what's a structural issue that needs to be addressed.
Spotlight Client Solution*
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Rate Renewals: The annual cap is contractually guaranteed to stay at 10.25% for all 7 years.
Indexes that Don't Perform: The index is the actual S&P 500. Not some hyped up index.
Notable Client Solutions*
Deferred Income is Back
A 65 year old depositing $100,000 is guaranteed $7,900/yr of income for life starting immediately.
Waiting 12 months, that same deposit would guarantee $8,700/yr... 10% higher income every year just by waiting 12 months.
With markets near all time highs, now is a great time to generate some cash from equities and defer the annuity 12 months
6.40% for 7 Years
Knighthead's Staysail MYGA is the go-to for clients who are RMD age or want to withdraw interest annually.
0.45% higher rate than the next A rated carrier.
$3,150 extra interest withdrawn while maintaining principal on a $100k deposit.
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At Foundational Income, we strive to bring relevant topics and solutions to your fingertips in a straightforward way. We don’t see the need to keep products nor carriers a mystery. If you’d like to discuss any of this in more detail, give us a call!