Been thinking a lot lately about the concept of a “trusted advisor” because I keep getting people in front of me who needed a trusted advisor, but something bad happened and now it’s too late.
I recently met with a family who had been burned. Big time. They knew that, as a young family with two small kids and a Stay-At-Home mom, they needed life insurance. Problem was, they didn’t know anything about life insurance or what they really needed. The person they turned to sold them life insurance that had a small death benefit and a huge premium. It was totally wrong for their needs. They sunk about $15,000 in to this life insurance and then had to stop, because they couldn’t make the huge monthly payments. (The dirty little secret? The kind of insurance he sold them gives the biggest commission to the insurance salesperson. He had to know that he was selling them the exact wrong thing… but he didn’t care, because he got a bigger paycheck out of it).
So that $15,000… gone. And now they have no life insurance at all, which is really scary.
Now they know they need an estate plan… but they have two obstacles. First, they have “trust” issues… they are scared to put their faith in a professional again, only to be sold a piece of cr*p that isn’t right for them by someone just out to take their money. Second, they can’t really afford it. They are living paycheck to paycheck and they spent most of their life savings on this bogus insurance.
What to do?
Well, first off, every family needs a trusted advisor that they can turn to, to get their legal and financial questions answered. Yes, that means you too! Luckily, these people have found me. And they can get to know me, so they can get comfortable that I’m the “real deal” before they put their faith in me. Second, well, because I am the real deal, I’m willing to put my money where my mouth is. I’m in this for the long-haul with my clients. And I know this planning is super important – more than you even know- and so we work with families to make it happen, even when you think you can’t afford it. Call me and we can talk more about it.