Being poor has nothing to do with income.

[Rick Lee]

I'm not trying to talk anyone into anything. Remember, these people contact me. I don't cold call. They say they have existing insurance and want to add to it or find a better price, I show them exactly that and then, well, it's sometimes hard to convince this demographic that $10 is more than $8. When I know the guy has overpaid for years on an existing policy, would get more coverage for a lower price from me, as well as cash back from the old company, I don't feel guilty in going for the close.

And I can't count the number of times someone said they had to think about it, when they were perfectly healthy the day we met, they call me a few weeks or months later and now they're ready to sign. I ask if their health has changed at all since we met. Every. Single. Time. "Oh, well, I started insulin last week." Or, "I was in the hospital for a blood clot yesterday, but it's fine now." Every. Single. Time. I tell them I'll talk to them in two more years.

[stevej37]

Originally Posted by LWJ

In my life, I lived way under my means early on for benefits to be reaped later. It worked out well, providing I live a few more years.
Second hand televisions, goodwill clothes, remodeling houses, slaving at rentals, never a new car...
Brought me to 911sc, 930, and now a Boxster.
Funny that my frugal existence has lead to people envious of my lifestyle.
Choices.

In a lot of cases I think a person raised in a poor family....like myself, have a better chance of building wealth. Once a taste of the better life...more drive to get it.
Someone born into a higher class of living usually doesn't have that drive.

My family was next to the bottom. The first time I ever ate anything other than home prepared was when I got my first job and went to a McD's.
My mother sewed and made all our clothing. Always sack lunches at school.

[ChrisHamilton]

I have made some piss poor life decisions along the way. Usually because I'm to stubborn to admit I'm wrong. THey have followed me and taken me years to recover from. I am not rich, nor even moderately well off, but I have no debt, I own my home, no payments to make other than the normal monthly stuff.

The poor though nowadays can live better than someone like myself who tries to scrimp and save as there is so much given to them by the government. It disincentives them from getting a job and creates this culture of dependency that we have now. True compassion IMO is helping someone better their life not just giving them a handout that they end up depending on. I read somewhere that the amount of benefits and aid someone can get is around $75K-$80K per year. Insane.

[Rick Lee]

This business is a one call close kind of business. If I walk out of the house without an app, there's about a 1% chance of them ever calling me back. That's just how this business works.

I hit the jackpot a month ago when I walked into an appt. The woman was waiting for me on her front porch, said she wasn't feeling well and wanted to cancel. I totally ignored that, showed her the card she'd mailed in (it was TWO YEARS OLD!) and she got interested, forgot about feeling bad. We sat on the love seat swing on her porch and when she saw a company logo on my phone's quoter app, she said, "Hey, we have a death claim going on with that company now. My mom died in August and they haven't paid the claim yet." Just so happens I know everyone at that company, so I called them up find out what was going on. Turns out the mom had changed beneficiaries a week before her death from her kids to a funeral home. I got it all fixed and she got a check for $17k a week later. I was a total hero then, and she told me to come to her daughter's house a few days later. I wrote FIVE applications for that family that day.

Now, here's where putting things off comes back to bite you in the ass. The daughter was 36 and on insulin since age 27. I have a few companies that will take that. But she got declined ..... because she forgot to tell me she was taking Sublocade injections for opiate addiction. Ooops. So, there's exactly one company in the US that will take under-40 year olds with no questions asked, they're not cheap and there is a two year wait. But this woman was in tears when I called to say she had been declined and this was the only option left. She wanted life insurance more than anything in the world. Hey, I don't get it, but I wasn't going to talk her out of it. She waffled and dithered for two weeks, didn't respond to my last text. I texted the mom, who still thinks I'm the hero, and the mom said she'd talk to her.

Then, while on a bus in the middle of nowhere in Peru last week, I get an email that that company is discontinuing that product and all apps must be submitted by 2pm last Friday. I forwarded it to the daughter. I don't think she believed me. Now that product is no longer available. She cannot get life insurance AT ALL until she turns 40 and hopefully that product will still be available at that time.

[masraum]

Originally Posted by Rick Lee

This business is a one call close kind of business. If I walk out of the house without an app, there's about a 1% chance of them ever calling me back. That's just how this business works.

Years ago, I worked in a shop that sold stuff in a mall, cheap jewelry, figurines (cheap to expensive), etc.... My boss used to like to say, "the be-back bus don't stop here." It was his way of saying that if someone was looking at an item, and you didn't sell it to them right then, they were going to leave and were unlikely to ever come back.

[masraum]

Originally Posted by Rick Lee

I get an email that that company is discontinuing that product and all apps must be submitted by 2pm last Friday. I forwarded it to the daughter. I don't think she believed me. Now that product is no longer available. She cannot get life insurance AT ALL until she turns 40 and hopefully that product will still be available at that time.

not exactly the same, but it's not unusual for my wife to say "lets buy XYZ" so I go and find XYZ online at a good price and say "Here it is. Do you want me to order it?" Then she wants to think about it. I ask another time or two over some time, and then stop. Weeks or months later I'll get "OK, let's buy the one that you found." It's not uncommon for the price to have drastically changed or for the item to be NLA.

Bugs the crap out of me.

[911 Rod]

Rick reminds me of Saul Goodman. lol
(This is a complement)

[Rick Lee]

Just saw this posted by a co-worker on our group chat:

"Just sold a guy living in a homeless shelter. He had a job and a bank account. Took at the max $25k benefit. While I was doing the E-App he asked ‘what is that?’ I said a Microsoft surface pro. He said he wanted to get one and asked how much. He didn’t flinch when I said around $1,000. For a homeless dude he was pretty baller"

Priorities.

[Baz]

Rick - I just want to give you some love for doing what you can to help your clients.

Don't know why it's so hard for some to recognize you are trying to help these folks.

Kudos and mad respect, brother!

[Rick Lee]

Thanks Baz. I'm not a do-gooder at all and I'm in this for me. I have to walk away all the time when I can't help someone. But there are plenty of times when I can help them.

[tabs]

Originally Posted by KC911

You can't fix $toopid, but Car $hield can save you money if you are ....

Idiot$.....

I have Car Shield and it save me twenty five hundreeeed $.

[tabs]

Originally Posted by fintstone

It is really hard to break out of being really, really poor. It is the lower middle class and the middle class that have the ability to advance their situations the most easily. The best bet for the really poor is to avoid doing anything when young to preclude their joining the military. The military instantly takes them away from most of what would hold them back (without having to tug/push-pull of friends and relatives). If wise, they can choose an area of work/training that has excellent job opportunities on the outside/private sector. If they have any ambition at all, they will learn from colleagues from other places/circumstances. They can leave in four years with a good deal of money in the bank, job skills, personal skills and an education if they even remotely try. If they choose to stay for 20 (or more), they can leave very young with a good chunk of money every month (to invest) for the rest of their working life (while they live on their post military job/income).

You have to have an IQ above 95 to to do that.

[tabs]

Originally Posted by LWJ

In my life, I lived way under my means early on for benefits to be reaped later. It worked out well, providing I live a few more years.

Second hand televisions, goodwill clothes, remodeling houses, slaving at rentals, never a new car...

Brought me to 911sc, 930, and now a Boxster.

Funny that my frugal existence has lead to people envious of my lifestyle.

Choices.

By the old standards of what used to be that is admirable.

[KFC911]

Originally Posted by tabs

I have Car Shield and it save me twenty five hundreeeed $.

Replacing the gas tank on a '74 Pinto ain't cheap!

[tabs]

Originally Posted by Aurel

Being poor has everything to do with paying more for less, or spending more than you make.
It is such a simple equation, but apparently many lack the basic math skills to get it.
Math skills correlate with IQ, and so does income and wealth. Those are some hard facts.

What foolish things people will believe...

You are a rather prosperous bourgeoisie kind O guy...but when you are on the Savannah IQ alone ain't gona do it..you have to have moxie to. From listening to you your moxie skill set is rather low.

That lion behind the bush over there is licking his chops waiting for your next move, cause he is thinking dinner is about to be served...

10 yr Treasury 3.42%
3 Month Treasury is 4.27%
FED rate...3.87%

Does this mean anything to you?

[HobieMarty]

I see it all the time at work. The same people always bringing in food from some restaurant for their lunch every single day or buying things out of the vending machines at each break and always talking about being broke. Hmmm, I have worked at my job for nearly 12 years and have always brought my own lunch, drinks, and snacks from home. I'm not "rich" by all means, but I ain't broke neither!!!! I'm good.

Sent from my SM-N950U using Tapatalk

[tabs]

Addendum: FED funds rate is at 2.25% to 2.5%, today 7/28/22 the 10 year US Treasury briefly hit 2.64%. closing at 2.69%. The question becomes what happens if the FED Funds rate INVERTS with the 10 year Treasury? this has never happened before. Usually when the 2 year and 10 year Treasuries invert it signals a recession. If the FED Funds and 10 year invert does this signal a depression? Who will dare to call it a depression?

[tabs]

Originally Posted by HobieMarty

I see it all the time at work. The same people always bringing in food from some restaurant for their lunch every single day or buying things out of the vending machines at each break and always talking about being broke. Hmmm, I have worked at my job for nearly 12 years and have always brought my own lunch, drinks, and snacks from home. I'm not "rich" by all means, but I ain't broke neither!!!! I'm good.

Sent from my SM-N950U using Tapatalk

You should stop and reflect upon what I write...

In the scheme of things the money chase is an excercise in futility....for when you are laying in bed unattended to for hours and hours (if you are lucky) sobbing for God to please help you or somebody to please help you...I will come up to you and say cheer up you just made another 100K on your equity portfolio today.

[masraum]

Originally Posted by tabs

What foolish things people will believe...

You are a rather prosperous bourgeoisie kind O guy...but when you are on the Savannah IQ alone ain't gona do it..you have to have moxie to. From listening to you your moxie skill set is rather low.

That lion behind the bush over there is licking his chops waiting for your next move, cause he is thinking dinner is about to be served...

10 yr Treasury 3.42%
3 Month Treasury is 4.27%
FED rate...3.87%

Does this mean anything to you?

Hell yeah, dog! It means I should buy $20 in lottery tickets and stick the rest under my mattress!

[tabs]

Originally Posted by masraum

Hell yeah, dog! It means I should buy $20 in lottery tickets and stick the rest under my mattress!

You shoulda thought about that before...you odds of it paying off are better than anything you have done so far...

ABC New early morning World Report said today...That Walmart says inflation is receding...not in all areas but sporting goods, toys and clothing prices are coming down.. because they have too much inventory....yeah that is a real positive report there ABC..it is called fluffing the news...

What does that tell you? There is DEMAND DESTRUCTION in consumer goods..they are not selling it...people are spending their money on essentials..food, utility bills, gas and rent...people are getting stretched thin just to make ends meet...

Consumers are using the credit card to make those ends meet...US credit card debt is up to 950B...