Become a Financial Guide for Nurses
Have you ever driven through a really nice neighborhood and wondered, what do these people do for a living?
Most of us have, it’d be nice if you could drive up, knock on their door and say:
How have you found success? And how do I figure that out for myself?
We don’t do that because it’d be awkward and also because it can feel embarrassing to admit we don’t understand it.
Money can be a mystery.
We don’t want to open up about it because we don’t want to look dumb and we don’t want to be taken advantage of.
The truth is, it’s okay to wonder about those things. It’s just important to know who to ask and where to look for answers.
This video was created by a group of friends who asked those questions and found answers.
We have a strong desire to help others.
I’ll tell you more about that group of friends and the companies we represent later.
But for now, I want to pull back the curtain on the mystery of how some people are financially successful, and why most of us aren’t.
Think about where you are in life right now. You just got out of college, or you’re in a career as or maybe you’ve been forced into unemployment.
It’s possible you chose a career path with a sense of purpose. It’s also possible you just took any job that was available. No matter where you are, or why you’re there, it’s important to know that your future is not written in stone on some mysterious Mount Olympus. You have the authority and power to choose where you go from here.
And it’s okay if you want to make extra money so that you can live out your purpose and have a greater impact on your life. Even if you love what you do, it’s okay to ask, “is there a way I can do better financially?” Or have more freedom of time?
Answering that question might lead you to a different and equally or more satisfying career, or it might simply help you create another income stream? In any case, let’s knock on that door together and ask some questions.
Why do so many people struggle with money?
The biggest reason is that we don’t know how it works.
Most families across North America have too much debt and too little savings.
Unfortunately, school doesn’t really teach us how to navigate this stuff. We graduate from high school and even college with no real map or GPS to find our way to financial success.
We have blind spots that we are totally unaware of that often cause trouble later in life that could have been avoided. This is true in just about every neighborhood.
Most people are living paycheque- to-paycheque.
We’re drowning in debt from student loans, credit cards and car loans.
Most savings accounts are nearly dry.
And the same goes for retirement accounts.
Did you know that over half of millennials have saved nothing for retirement? All the stats on this stuff continue to get worse, and things are not improving.
And we know the average life insurance gap is $495,000 per household. That means when someone dies, typically their life insurance falls a half a million dollars short of what is actually needed by the family they’re leaving behind.
All of these financial mistakes and struggles can create quite a mess.
The good news is that you don’t need to be tangled up in it anymore.
You have the power to free yourself and help others, too. That leads to question two.
What can I do right now to be on the best possible path for my own financial security?
One option, the option we can help you with, is learning how to earn extra income, building a business that helps people navigate their money questions like reducing debt, investing for the future and planning for the unexpected.
We’re talking about serving middle-income families who are often ignored or even abused by large financial companies, and wealthier people who are confused or unsure if they’ve been getting the correct advice.
And this business has very easy-to-understand tools. So you don’t need to be a financial wizard or a math genius to do well.
You’ve probably heard phrases like financial coach agents or guide. That’s basically what we’re talking about, but within a context that allows you to be yourself, and to enjoy helping people who will otherwise be ignored or not given the best advice.
And in this case, there are multiple ways you can create income for yourself. You can literally build the business of your own without all the expense that typically comes with that.
More about that in a minute.
For now, I want to answer another question that often comes up.
How can I be a financial guide for others if I’m not a master of this topic already?
The knowledge and tools that people used to become financially secure are not overly complicated. You really can understand them and help others to understand them too.
You will have great people around you to help you in a process that literally does the work for you.
Ultimately, you can be in a business that changes people’s lives by helping them in an area of their life that is incredibly important to them.
It’s like you’re helping someone learn how to use the GPS app on the phone. You don’t need to design and build the app.
You just show them how to turn it on, choose the destination and enjoy the journey.
What are some of the financial tools or concepts you use in teaching to help people build their wealth?
This is an important part of the conversation.
These tools are not just good for helping other people, they can be powerful in your life, too.
The first one is a favorite for us because it addresses the most painful part of dealing with money debt. We have a strategy that helps people prioritize the quickest way to become debt free.
This is called debt stacking. It’s when you pay off one debt, and then use those dollars to pay off the next debt and to continue that pattern, and so you are totally free from debt.
Using this strategy, people can pay off debt several years faster, saving 10s of 1000s of dollars in interest payments, allowing them to invest exponentially more towards future retirement or college for the kids.
Let’s say you have $1,500 of debt payments, not including your home mortgage using the Debt stacking strategy. You can have that $1,500 freed up in probably two or three years.
And once it’s freed up, you can invest that $1,500. If you invest $1,500 per month for the next 20 years at a 9% return, you’d have just over a million dollars.
We can show you more about how this works, so you can understand it really well.
Being in debt is so painful and debt stacking is a powerful way to crush it and move on.
It’s really fun helping other people understand it, and then watching them untangle from debt.
Another very important concept is the
Rule of 72
It tells you how long it takes to double your money.
It’s a great tool for people who are just starting to figure out how to invest the Rule of 72 on covers something that the bank and insurance industries often don’t talk about. And that’s because it reveals how your money can potentially grow exponentially by investing.
A lot of us were taught to put money away in savings accounts. But if we’re saving for the long term, that’s not the best idea.
If you put your money in the bank, you get a small return.
If you invest your money, you can see a much larger return over the long term because of something called the power of compound interest.
For example, if you invest $100 a week, or $400 per month, for 35 years, your money would grow to $297,367 at a 3% interest rate at a 6% interest rate, it would have grown to $572,734. But if you would have received a 9% interest rate, your money would have grown to $1,185,539.
That’s the power of compound interest. Your money can earn you more money just by being in the right place.
Another very important thing we talk about is income protection
That phrase is interchangeable with life insurance. But to call it income protection is more accurate.
So why it’s it valuable?
Sometimes when people think of life insurance, they think of money that can be used to pay for a funeral when someone dies. But it is far more than that.
Imagine a couple who has two children. Their monthly budget is $8,000. Each spouse makes $4,000 each month. If one of those providers dies, the other spouse and their children are not just losing someone they love.
They’re losing an income and they now only have $4,000 per month to pay for an $8,000 budget.
Now, in addition to grieving the death of someone they love, they’re going to have to change their lifestyle in dramatic ways just to make things work financially, when the income stops because it’s not protected, and the bills keep coming.
It leads to financial ruin, and it’s easy to make mistakes in this area.
Most financial planners and insurance agents will first sell you on a life insurance called cash value life insurance, or whole life insurance, which is a product that provides too little protection against too great a cost.
And sometimes we think recovered under a group policy at work, not realizing that plan only pays out if you’re an active employee. So if you’re out of work too long, because you’re sick or recovering from a surgery, you may not even be covered.
Too many people learn this the hard way.
Our priority is to make sure that families can pay their bills and focus on healing and not be overwhelmed by financial stress.
That’s income protection.
We all need it. And it feels really good to help other people find it.
Let me tell you about one more valuable tool that we use with clients.
It’s called the financial independence number.
To discover your financial independence number is to learn how much money you have to accumulate through saving and investing in order to one day live the quality of life you want without working anymore.
The Financial Independence Number (FIN) is the most important number in our financial lives and yet most people have no idea what it means or how to attain it.
We have a digital tool that makes it easy to discover.
It can help clients navigate their entire financial journey
You’ll have access to a platform that functions like a GPS for money decisions.
It’s easy to use, and it’s designed to help you do a good job serving your clients.
Who made this video and why?
Earlier I referenced a group of friends who created this video.
What we all have in common is that we all got excited about this opportunity years ago. Today, we love working together as independent contractors. We live in cities all over North America and we represent many different backgrounds.
These are real pictures of some of the people I’m talking about.
This group has had a lot of fun helping people and they’ve been very successful doing it and truly, we believe you can do what we’ve done.
We can help you start into this business for yourself and make sure you are supported along the way.
We represent some of the most trusted names in our industry.
This group has had a lot of fun working together and has been very successful but we are not done yet.
Our hope is to find more people like us to grow more and make an even greater impact in the marketplace.
Ultimately, we believe we can make financial success super accessible for everyone, not just wealthy individuals.
Let’s look at a couple more important questions.
How do I start? And how do I get paid?
Step one, submit an application.
This gets you set up to start training and to get the necessary licenses. If you would get those licenses on your own, in some provinces, it would cost up to $1,200 but our distribution partner pays the majority of those costs for you.
The only investment on your part at this point is a $99 licensing fee and we have incentive programs that can allow you to get that back.
Step two, complete a 30 to 60 day training program.
Depending on how fast you want to move.
Step three, continue to plug into the system.
If you stay focused or willing to learn and do your best, the system will go to work for you and you will be amazed where you could be just 6-12 months from now.
When you start you get access to amazing technology support for $25 a month you’ll have access to all the software you need to operate professionally and paperless including a client relationship manager and many other super valuable tools.
For context, software in this field can easily run $2,000 a year.
One of the most attractive reasons to be in the financial industry is the income that’s typically earned upfront, recurring and for training and developing others who help clients.
The potential exists to build an income that comes in whether you personally are working with new clients or not.
Here’s an example of how you could potentially earn income beginning part time.
Let’s say you help a family save money with low-cost term life insurance, you help them roll over an old RRSP of $20,000, get a will and set up a monthly investment of $250 a month.
Some products like the term life insurance or income protection pay you up front while others provide a recurring income stream.
As the account values increase, so does your compensation for servicing them.
You may earn $500 or more each time you provide a service like that to a client.
So, if you can imagine helping four clients a month, that’s about $2,000 or more and once you earn a couple promotions, that amount per client goes much higher.
And like I said, there’s a recurring income that builds from all the future contributions and account values that grow over time.
An important aspect of building a secure business income is having the ability to earn active and recurring income. Our model allows for both.
The third way to earn an income is probably the most exciting.
Fast forward a few months clients are being developed, you are meeting more and more people. Some decide they want to learn how to do what you were doing. They obtain licenses and complete their field training and begin to develop clients of their own.
When that happens, you are rewarded by earning a percentage of the business they produce.
The compensation plan rewards you to train and develop others to serve more clients. That compensation is upfront and recurring.
Just like when you develop a client yourself, and there is no limit on the number of people you can train.
As you find more clients who are able to invest for retirement and college savings, it’s possible within five years to be making five to $10,000 a month of recurring income from those accounts.
This business model is very common...
When a doctor has other doctors who work for her she has a practice.
When a lawyer hires other lawyers to work for him. He has a firm.
When you train people to be financial guides for others. You have an agents.
Once your agency or team is productive enough, you earn the title of Regional Vice President and you get paid four ways.
- You earn money through your own personal clients.
- You earn money when the people you train help clients.
- You may earn bonuses and stock awards monthly depending on overall performance.
- And if you help the people you trained to become a Vice President like you, then you are compensated on their businesses.
To give a sense of timeline, it depends on the person, but we find that if you’re focused and coachable, it’s possible to qualify as a Regional Vice President fairly quickly once you make a commitment to doing what it takes.
Once you are a Regional Vice President, if you continue to work hard, it’s not unrealistic to earn $8,000 a month in no time.
We are not trying to WOW, you by throwing around big numbers.
Everyone is unique and it could very well take longer than this, but that will give you an idea of what’s possible.
How hard is it to do this for real?
Well, submitting your application completing your training and getting licensed will take some work, you’ll need to study and be curious, ask questions and push yourself to be ready for the licensing exam.
Many of us are not the best test takers, but we all did it, so you can too!
Once you get started, you’ll just have to be consistent.
If you know how to send an email, make a phone call or send a text, connect on social media and ask questions, you can do this.
Overall, it will take hard work, but anything worthwhile is going to challenge us in new ways. Might as well challenge yourself doing something that can be meaningful for you and others.
The keys are to be self-motivated, follow the steps we provide you and to have faith in yourself, have faith in the people who want to help you and in the system that’s designed to support you.
At this point, you may have more questions, but you probably have an idea of what you might be interested in.
I’m wondering if you could pick from this list of three possible paths.
- 1Path 1:
You want to learn more about the financial concepts we talked about and create a plan for your own financial success
- 2Path 2:
You’d like to learn more about the part time opportunity making some additional income with a flexible schedule, and much of it can be done from home
- 3Path 3:
You’d be fine to start part time and possibly transition to a full-time career and work toward a six-figure income.
Ready to take the next steps?
Contact us to schedule a discovery call and let us know which path makes the most sense for you.