Podcasts about playchecks

Annuities might sound boring, but you know what's NOT boring? Having Paychecks and Playchecks... Tom Hegna famously describes it like this... Being able to enjoy *every* opportunity that comes your way in retirement – stress-free, All because you covered your basic expenses like utilities, food, and taxes with a steady, guaranteed income, So you can focus on the fun stuff – traveling, spoiling the grandkids, or chasing new adventures.

Welcome to another episode of The Richer Geek Podcast. Today, we are joined by Mark Murphy, CEO of Northeast Private Client Group and a renowned expert in financial planning and wealth management. He explains the importance of building multiple income streams and designing a life with intention. Discover the principles of cash confidence, the significance of investing in your money-making endeavors, and the importance of creating both paychecks and playchecks. Learn how an entrepreneurial mindset and strategic collaboration can transform your financial future. Plus, explore Mark's book, 'The Ultimate Investment,' and uncover the secrets to achieving financial freedom. In this episode, we're discussing: Cash Confidence: Importance of maintaining liquid assets or reliable income streams to navigate financial challenges. Money Machine: Investing in one's business to generate a significant return on investment. Paychecks vs. Playchecks: Differentiating between income-generating assets and expendable assets for financial stability. Entrepreneurial Mindset: Emphasizing strategic planning and financial engineering to create multi-generational wealth. Collaboration Over Isolation: Working with a team of financial experts to optimize wealth management. Transformational Language: Using impactful, memorable language to reinforce financial strategies and principles. Invest in Yourself: Continual self-improvement and education to advance career and financial goals. Diversified Asset Classes: Understanding the significance of various asset classes beyond traditional investments. Resources from Mark Email | Northeast Private Client Group | Contact number: 973-422-9140  Resources from Mike and Nichole Gateway Private Equity Group |  REI Words |  Nic's guide

What's in this episode:- Planning for retirement the right way- Improve your portfolio performance- Appreciating assets- What's happening in crypto?- Becoming a millionaire- State of the economyAbout Tom:Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert.As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. He has condensed a large chunk of his considerable knowledge into 5 books.Contact Tom:Website: tomhegna.comYouTube: @TomHegnaLinkedIn: Tom Hegna Catch the full video of this conversation:Text BUZZ to (816) 727-7610 to connect directly with us and share your favorites from the episode or learn more about upcoming events and challenges happening in our industryJoin Weaver Sales Academy: https://www.weaversa.com/Follow Michael & Courtney on social media:Facebook: https://www.facebook.com/mandcweaverInstagram: https://www.instagram.com/mandcweaver/Youtube:Michael LinkedIn: https://www.linkedin.com/in/michael-weaver-a2940095Courtney LinkedIn:  https://www.linkedin.com/in/courtney-weaver-4b8139a0/

Scott welcomed Retirement Expert, Economist, Best Selling Author, Public TV host and International Speaker Tom Hegna virtually in studio to have a discussion on financial planning in the current economy, the importance of using the right tools at the right time, and practicing what he preaches when it comes to his own retirement.Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. He has condensed a large chunk of his considerable knowledge into 5 books.As a financial professional, after learning from this value packed episode you will walk away with a greater understanding of how wealth preservation strategies can deepen client relationships and grow your business better moving into the future.Connect with Scott on LinkedInConnect with Tom on LinkedInFor more on The Optimized Advisor Podcast click here  For more on Tom Hegna click hereFollow us on LinkedInFollow us on InstagramFollow us on Facebook **This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at optimizedadvisor@mailpcwest.com

Having a guaranteed lifetime income (your paychecks) during retirement can help you cover your basic living expenses, so you can focus on what's left — the playchecks. In this episode, J. Barry Watts speaks with retired U.S. Army Lieutenant Colonel Tom Hegna, who is now a retirement expert, best-selling author, public TV host and international speaker. Together, they share ways to build reliable sources of retirement income and minimize risk.  Colonel Hegna discusses: Key takeaways from his books “Paychecks and Playchecks” and “Don't Worry, Retire Happy!” The benefits of insurance (and why people should not see it as something negative) How insurance companies differ from banks (in light of the Silicon Valley Bank fiasco) Why retirees should always consider long-term care in their financial plan And more Resources: “Paychecks and Playchecks: Retirement Solutions for Life” by Tom Hegna “Don't Worry, Retire Happy! Seven Steps to Retirement Security” by Tom Hegna “The Secret to a Happier Retirement: Friends, Neighbors and a Fixed Annuity” by The Wall Street Journal Connect With Tom Hegna: TomHegna.com LinkedIn: Tom Hegna Connect With Barry Watts: Schedule an Introductory Call PriorityCare@WealthCareCorp.com  800-278-1755 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts  About Our Guest: Tom Hegna is an economist, author, and retirement expert. As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping baby boomers and seniors retire the "optimal" way. Tom specializes in creating simple and powerful retirement solutions. He has the unique ability to pump up a crowd, make people laugh and solve complex financial problems using easy-to-understand words, ideas and stories. He's been featured in Business, Forbes, Money Rates, and many other leading publications. He is available to speak with businesses, government organizations, professional associations, financial professionals and their clients across the globe.

Retirement Income Expert Tom Hegna Shares Financial Secrets To A Happy, Healthy Retirement Welcome to episode #30 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Tom Hegna and they discuss many aspects of his wide-ranging knowledge on retirement planning. This episode would be useful for both consumers and financial professionals who want to understand the current situation surrounding successful retirement planning. Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be the Retirement Income Expert. As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. He has condensed a large chunk of his considerable knowledge into 5 books. Here is what to expect on this week's show: A look into Tom's background, how he went into retirement issues and how his extensive experience in the Army plays into his life now. Why are the financials of retirement planning so different from other types of financial planning? (With examples of how this plays out) Important highlights from Tom's PBS TV special Don't Worry, Retire Happy. What financial planning help is most needed these days, and how has it changed recently over the past few years? What is it that the average thing that pre retiree do not understand about security and what problems are created by this lack of understand? Why must one use insurance products and annuities to remove retirement risks? What dilemmas do baby boomers face that other generations have not faced in the past? More information about annuities and the value of adding them to your retirement portfolio.   Relevant Links: https://tomhegna.com/ Connect with Tom LinkedIn: https://www.linkedin.com/pub/tom-hegna/40/83a/336 Twitter: https://twitter.com/tomhegnaspeaks Facebook: https://www.facebook.com/tomhegnaspeaks YouTube: https://www.youtube.com/c/tomhegna Email: info@tomhegna.com   Learn more about your ad choices. Visit megaphone.fm/adchoices

Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!.As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. He has condensed a large chunk of his considerable knowledge into 5 books. Paychecks and Playchecks: Retirement Solutions for Life.This has sold over 120,000 copies around the world. The top-rated Kindle version has been the #1 best-seller in its category for over 2 years.Retirement Income Masters: Secrets of the Pros.This book compiles the very best tricks of the trade from the very best retirement experts.Paycheques and Playcheques: Retirement Solutions for Canadians.Tom has teamed up with Canadian financial advisors Steve Tate and Rob Gawthrop to share the math and science behind a successful retirement!Don't Worry, Retire Happy! Seven Steps to Retirement SecurityThis book is based on Tom's popular Public Television Special. Haven't seen it? You can LEARN MORE HERE!Don't Worry, Retire Happy! Seven Steps to Retirement Security for CanadiansFor his latest book, Tom collaborated with Jim Ruta and Michael Morrow to help Canadian retirees Retire Happy! LEARN MORE HERE!Tom specializes in creating simple and powerful retirement solutions. He has the unique ability to pump up a crowd, make people laugh and solve complex financial problems using easy-to-understand words, ideas and stories. He's been featured in Business, Forbes, Money Rates, and many other leading publications. He is available to speak with businesses, government organizations, professional associations, financial professionals and their clients across the globe.

Have you ever filled out a questionnaire at your financial advisor's office? If you have, it was probably a risk tolerance questionnaire. I have my own opinions about them, but you'll have to wait until the end of this episode to hear what it is.  On this episode of Retirement Starts Today, we'll explore an article from AdvisorPerspectives.com written by Dr. Wade Pfau and Alex Murguia which argues that risk tolerance questionnaires (RTQs) don't work. You'll hear new retirement slang and acronyms as well as a discussion of retirement income sourcing.  Dr. Pfau has also developed his own tool to use that can help you select the best deaccumulation approach. Don't forget to stick around until the end to hear my thoughts.  Outline of This Episode [2:22] How risk tolerance questionnaires are used [5:45] The different approaches [10:35] Two different styles [12:58] My personal criticisms of risk tolerance questionnaires What are risk tolerance questionnaires used for? RTQs are a tool that help financial advisors identify the amount of volatility that clients can handle in their investment portfolios. These tools generally consist of 9 questions and they are designed to establish a baseline so that the advisor can rank the investor on a scale of 1-5 from conservative to aggressive. These documents are especially helpful for advisors to stay compliant as they choose portfolio recommendations. Why retirement investing is different RTQs work best in the accumulation stage of people's lives, but when it comes to retirement they fall flat. In retirement, a person must shift their way of thinking from accumulation to decumulation and this can be a challenging adjustment in mindset. Viewpoints on funding daily expenses inevitably change when one is completely dependent on living off one's investment capital without the luxury of human capital to cushion the blows of a bear market.  Retirement brings added risks In addition to a change in mindset, there are unavoidable spending shocks that arise in retirement. This means that retirees need to consider how much of their assets they need to keep on hand for these unexpected events and market downturns.  Not only are there the everyday expenses that come along, but retirement brings on further risks. There is constantly the risk of outliving your money and becoming a burden to others since no one knows their own longevity. Another retirement risk is lifestyle risk. To maintain a comfortable lifestyle in retirement it is important to ensure enough discretionary income to fully enjoy retirement.  Why RTQs don't work  RTQs work better for people in the accumulation stage of life because they weren't designed to handle the broader questions that retirement brings. They can play a small role in helping to decide asset allocation, however, they cannot be used in place of a retirement plan.  It is important to come up with a retirement income strategy based on goals first. By beginning a retirement plan with a questionnaire you end up boxing yourself into a strategy that may not be in alignment with your ultimate retirement goals. Listen in to hear why I think RTQs are a poor excuse for proper retirement planning.  Resources & People Mentioned Boomer Benefits Why Risk Tolerance Questionnaires Don't Work for Retirees The Mullet Episode BOOK - Paychecks and Playchecks by Tom Hegna Wade Pfau's Retirement Researcher blog The American College Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

This week on the Against All Odds Radio Show, hosts Sean V. Bradley, CSP and L.A. Williams discuss how to become a millionaire.   While a million dollars isn't what it used to be, most people are going to make well over $1,000,000 in their lifetime.  Over your lifetime, a person making $50,000 a year with regular pay raises is going to make $3.7 million over 40 years.  The question is not only how much money you are going to make, but also how much of that are you going to keep?  How much of that will you have for retirement?  Joining Sean and L.A. this week is Tom Hegna.  Tom is an economist, author, and retirement expert.  Considered as THE Retirement Income Expert, he has been a subject matter expert and speaker for many years.  As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way.Tom specializes in creating simple and powerful retirement solutions. He has the unique ability to pump up a crowd, make people laugh and solve complex financial problems using easy-to-understand words, ideas and stories. He's been featured in Business, Forbes, Money Rates, and many other leading publications. He is available to speak with businesses, government organizations, professional associations, financial professionals and their clients across the globe.ResourcesDealer Synergy & Bradley On Demand: The automotive industry's #1 training, tracking, testing, and certification platform and consulting & accountability firm.The Millionaire Car Salesman Podcast: is the #1 resource for automotive sales professionals, managers, and owners.  Also, join The Millionaire Car Salesman Facebook Group today!The Against All Odds Radio Show: Hosting guests that have started from the bottom and rose to the top.  Also, join The Against All Odds Radio Show Guests & Listeners Facebook Group for the podcasted episodes.For more interactivity, join The Millionaire Car Salesman Club on Clubhouse.Win the Game of Googleopoly: Unlocking the secret strategy of search engines.Sean V. Bradley, CSP is the star of Vice TV's hit show, I Was A Teenage Felon, season 2.  New episodes return this fall, and “King of Clubs”, the season 2 finale starring Sean, airs on November 22, 2021 at 10:00 PM EST.The Against All Odds Radio Show is Proudly Sponsored By:Car.com: Visit Car.com today, where they do the research and you do the driving.Scar Food: Scar Treatment for Scars, Acne Scars, & Stretch marks - visit ScarFood.com today!

Tom Hegna   – The Insurance Marketing Organization Podcastwith Seth GreeneEpisode012Tom Hegna Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert! As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. He has condensed a large chunk of his considerable knowledge into 5 books. Tom specializes in creating simple and powerful retirement solutions. He has the unique ability to pump up a crowd, make people laugh and solve complex financial problems using easy-to-understand words, ideas and stories. He's been featured in Business, Forbes, Money Rates, and many other leading publications. He is available to speak with businesses, government organizations, professional associations, financial professionals and their clients across the globe.   Listen to this insightfulepisode with Tom, full of valuable financial tips: Here is what to expect on this week's show: How the pandemic changed the insurance landscape Why you need to invest against inflation Inside Tom's “paychecks VS playchecks” approach Why life insurance is the best gift to pass on to your kids   Connect withTom: Guest Contact Info: Website: Twitter: https://twitter.com/oneincsystems Facebook: https://www.facebook.com/oneincsystems/ Linkedin: https://www.linkedin.com/company/one-inc/   Learn more about your ad choices. Visit megaphone.fm/adchoices

Economist, author, and retirement expert Tom Hegna joins us to share his expertise on handling finances and preparing for retirement. Find out how he helps people solve complex financial problems using easy-to-understand words.   Read more and get additional financial resources here: https://www.cornerstonevegas.com/ep-13-paychecks-and-playchecks-author-shares-top-retirement-tips/    About our guest: https://tomhegna.com/    What we discuss on this episode:  1:27 – Meet Tom 3:34 – Books 5:01 – Fixed expenses 6:03 – Transition to another paycheck 8:31 – Income 11:03 – Guaranteed sources of income 13:11 – Don't Worry, Retire Happy 14:32 – Legacy 16:57 – Long-term care 20:46 – Social Security 23:25 – Fear of tax brackets

Josh Jalinski, The Financial Quarterback is joined by Tom Hegna, economist, author, and retirement expert. Tom is a former First Vice President at New York Life, retired Lieutenant Colonel, economist and author of multiple books. Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. His latest book Tom Hegna's Guide to Social Security and Medicare 2020: Income Maximization Strategies is a 36-page booklet that explains why Americans should maximize their Social Security retirement benefits and provides useful advice, tips, and websites you can use to increase your lifetime income from the Social Security Administration. In this segment, Josh and Tom discuss why right now, it's the best time to buy annuities. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

Josh Jalinski, The Financial Quarterback is joined by Tom Hegna, economist, author, and retirement expert. Tom is a former First Vice President at New York Life, retired Lieutenant Colonel, economist and author of multiple books. Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. His latest book Tom Hegna's Guide to Social Security and Medicare 2020: Income Maximization Strategies is a 36-page booklet that explains why Americans should maximize their Social Security retirement benefits and provides useful advice, tips, and websites you can use to increase your lifetime income from the Social Security Administration. In this segment, Tom Hegna explains why you can't retire optimally without an annuity in the portfolio. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

Josh Jalinski, The Financial Quarterback is joined by Tom Hegna, economist, author, and retirement expert. Tom is a former First Vice President at New York Life, retired Lieutenant Colonel, economist and author of multiple books. Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. His latest book Tom Hegna's Guide to Social Security and Medicare 2020: Income Maximization Strategies is a 36-page booklet that explains why Americans should maximize their Social Security retirement benefits and provides useful advice, tips, and websites you can use to increase your lifetime income from the Social Security Administration. In this segment, Josh's guest, Tom Hegna talks about "Paychecks and Playchecks" and why it's important to have guaranteed lifetime income. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

Josh Jalinski, The Financial Quarterback is joined by Tom Hegna, economist, author, and retirement expert. Tom is a former First Vice President at New York Life, retired Lieutenant Colonel, economist and author of multiple books. Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. His latest book Tom Hegna's Guide to Social Security and Medicare 2020: Income Maximization Strategies is a 36-page booklet that explains why Americans should maximize their Social Security retirement benefits and provides useful advice, tips, and websites you can use to increase your lifetime income from the Social Security Administration. In this segment, Josh's guest Tom Hegna talk about why long term care insurance is so important and why people are advised to purchase life insurance. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

Josh Jalinski, The Financial Quarterback is joined by Tom Hegna, economist, author, and retirement expert. Tom is a former First Vice President at New York Life, retired Lieutenant Colonel, economist and author of multiple books. Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. His latest book Tom Hegna's Guide to Social Security and Medicare 2020: Income Maximization Strategies is a 36-page booklet that explains why Americans should maximize their Social Security retirement benefits and provides useful advice, tips, and websites you can use to increase your lifetime income from the Social Security Administration. In this segment, Josh and Tom break down the sequence of returns risk and how it can wipe out a retirement portfolio. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

In this episode we talk about how important it is to have both political as well as financial information that you can trust. Tom talks about how to position your retirement so you don't run out of paychecks and playchecks. He talks about the differences and importance of both.

In this podcast Ed Greene and I interview Tom Hegna. In 12 minutes, Tom shares some key things to consider as you plan for retirement. Tom is an economist,author of five books including Paychecks and Playchecks,and public television host of Don’t Worry, Retire Happy! seen in 80 million homes.  

Today Tom Hegna, best-selling author of https://tomhegna.com/shop/product/9/book-paychecks-and-playchecks-retirement-solutions-for-life (¨Paychecks and Playchecks,¨) breaks down the complexities and myths surrounding savings, annuities, and long-term life insurance, with practical pointers based on current maths and science metrics.  In a time of great uncertainty, his fail-proof method of securing a risk-free retirement by covering your necessities with guaranteed life-income sidesteps flashy marketing gimmicks for solid steps that will weather future obstacles, and get your retirement back on track for 2021.  Discussion Topics https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html (¨Lost Passwords Lock Millionaires out of Their Bitcoin Fortunes¨) The benefits of opening a ROTH IRA for children and grandchildren. Important age milestones for your retirement journey.  Get your retirement on track for 2021. Why you need to save and invest 20% of your earnings instead of 10% Why a 401K is not the best place to put your money.  How to prepare for retirement as a young investor. Getting life basics covered with guaranteed lifetime income. Why long-term care is a 3-in-1 saver. Why you should spend all your money and leave your children life insurance.  How to increase your savings right now.  Resources: Buy:https://tomhegna.com/shop/product/9/book-paychecks-and-playchecks-retirement-solutions-for-life ( ¨Paychecks and Playchecks¨ )by Tom Hegna Buy: https://tomhegna.com/shop/product/10/book-dont-worry-retire-happy-seven-steps-to-retirement-security (¨Don't Worry, Retire Happy¨ )by Tom Hegna Website: https://tomhegna.com/ (tomhegna.com) Youtube channel: https://www.youtube.com/channel/UCZLVr1-144LsPDrWR1cyqWQ (https://www.youtube.com/channel/UCZLVr1-144LsPDrWR1cyqWQ) Social:https://www.facebook.com/TomHegnaSpeaks/ (Tom Hegna - Facebook) https://tomhegna.com/shop/product/10/book-dont-worry-retire-happy-seven-steps-to-retirement-security (Tom Hegna - LinkedIn) https://www.facebook.com/retirementresource/ (Beau Henderson - Facebook) https://www.linkedin.com/in/beauhenderson/ (Beau Henderson - LinkedIn) https://twitter.com/richlifeadvisor (Beau Henderson - Twitter) About Beau Henderson:Beau Henderson is a retirement consultant, money and business coach, best-selling author, radio host, and Founder of RichLife Advisors. He has helped over 3,000 clients to not just improve their relationship with money, but to live their unique definition of a fulfilled life with purpose. RichLife Advisors helps clients across the United States approaching retirement with a strategy to: Save more money Pay less in taxes Properly address the 12 components of creating a successful retirement Protect the people and things that they care about the most Live their unique definition of a RichLife in retirement The Retirement Resource is produced by http://crate.media (Crate Media).

This week's guest on Marketing for Financial Advisors is financial expert, speaker, and author Tom Hegna to discuss the concept behind his best selling book Paychecks and Playchecks and his book / PBS special Don't Worry Retire Happy. Tom Hegna and Don Anders discuss how important guaranteed income is inside your portfolio, and why financial advisors should make sure their client's income is covered first and foremost. Tom and Don get into a discussion about the all annuities are bad myth, and what it truly means to be a fiduciary. Resources:Tom's Coaching, Webinars, and Resources (Tip: Watch one of his webinars for a lifetime discount): TomHegna.comMeet The Author Customized Webinars: https://www.advisorsplatform.com/products/tomhegna

Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert! As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way. He has condensed a large chunk of his considerable knowledge into 5 books. To learn more about Tom, make sure you check out his webinars at https://tomhegna.com/webinars (https://tomhegna.com/webinars) Check out Club Capital Univeristy's Latest Course Financial Essentials for Insurance Agents. (https://clubcapital.teachable.com/p/financial-essentials) Check out the Club Capital Website: www.club.capital (https://my.captivate.fm/www.club.capital) Check out our Sponsor: www.directclicksinc.com (https://my.captivate.fm/www.directclicksinc.com) Find Club Capital in Facebook: https://www.facebook.com/ClubCapitalLLC/Find (https://www.facebook.com/ClubCapitalLLC/Find) Find Club Capital on Instagram: https://www.instagram.com/joinclubcapital/ (https://www.instagram.com/joinclubcapital/)

This week, Jamie Hopkins talks with Tom Hegna about income planning for retirement, long-term care, and annuities vs bonds. Tom is a thought leader on income planning for retirement space and has written several books on the topic.  You can find show notes and other information at CarsonGroup.com/Framework.

On this week's podcast, we sit down with well-known financial author and speaker, Tom Hegna. Tom discusses his book Paychecks & Playchecks and different methods that can generate a lifetime income stream. Important Links: Website: PlanWiseRetireFreePodcast.com Call: 800-779-4592

In our talk today, Tom Henga, author of "Don't Worry, Retire Happy" and "Paycheck & Playchecks" broke down the science behind the optimal way to retire and the many reasons most Americans don't have a comfortable, confident retirement.

Tom Hegna (Economist, Author, former Vice President at New York Life) joins The Insurance Guys podcast to discuss life insurance, financial services, and how to start planning to become a Million Dollar Roundtable Agent (MDRT). Tom is an industry expert and thought leader in the world of financial services. Tom has done more than 5,000 seminars on helping people with retirement and income and is the author of Paychecks and Playchecks, Don't Worry Retire Happy!, and Retirement Income Masters. Resources: Website - tomhenga.com Books: Paychecks and Playchecks: Retirement Solutions for Life Don't Worry, Retire Happy! Seven Steps to Retirement Security   About The Insurance Guys The Insurance Guys Podcast is made and dedicated to agents by agents. Scott Howell and Bradley Flowers discuss all aspects of becoming an insurance agent and give real-life examples of their experiences in all aspects of hiring, sales and the day-to-day reality of running your own successful insurance agency. Please subscribe, review and rate our show on iTunes, SoundCloud, IheartRadio App, Spotify & Overcast.  

On this show, we talked with Tom Hegna about designing retirement income. Tom is an economist, author, speaker and is regarded by many to be THE retirement income expert. You can learn more about it from Tom at TomHegna.com, Facebook and Twitter. For Tom's book, Paychecks and Playchecks, click here. For Don't Worry, Retire Happy, click here. For any other questions or to contact George, click here.

Today’s episode is on retirement income solutions. Tom Henga is a retirement income specialist. Learn more at MarkMiletello.com. Note: “Where The Insurance Pros Meet” is an audio podcast and is meant for the ear. A transcript of the audio is provided for referencing a particular section or for you to follow along. Listen to the episode to get the most out of our show. We use both speech recognition software and human transcribers to create the transcripts so they may contain errors. If you’re going to quote us in print, please be sure to check the corresponding audio. TRANSCRIPT Announcer 1 Where the Insurance Pros Meet, Episode 2. Announcer 2 If you really want to get good, I mean, you want to be the best in the business, you've got to train a little bit every single day just like the pro football players do. Announcer 1 Where the Insurance Pros Meet is a podcast that brings the greatest talent in the world together: managers, coaches, and producers. The very best experts the insurance and financial services industry has to offer. Get ready to change the way you do business to have your most successful year ever. Now, here's Mark Miletello, a top one percent producer, manager, and your host of "Where the Insurance Pros Meet". Mark Miletello Today we're going to discuss retirement income solutions. We have on the show with us the retirement income specialist himself. He's the author of four best sellers, "Paychecks and PlayChecks", "Retirement Income Masters", "Paycheck and Playchecks for Canadians", and most recently, "Don't Worry Be Happy: Seven Steps to Retirement Security, which has played on public television to over 72 million homes in the US and Canada. Our guest specializes in creating, what I love, is simple and powerful retirement solutions based on math and science and not opinions. I've seen him speak myself. He's exciting. You should look him up. He speaks to businesses, government organizations, professional associations, financial professionals, and more importantly, clients across the globe. The road warrior himself, Tom Hegna. Welcome to the show, Tom. Tom Hegna Thank you, Mark. Thanks for having me. Mark Miletello Well, Tom, NFL season is here. I'm excited. The pros are practiced, rehearsed, the butterflies are gone. It's game time. Tom, congratulations, and thanks for being a leader, a voice, and a consummate professional in the insurance industry; and is, really, the leading speaker and coach in the financial services industry. So, thanks for coming to the show. Can you give us a kickoff of this show with a professional tip or advice just to start us off and get this game going? Tom Hegna Sure. I mean, since you're talking about pro football, let me ask you a question. How often do they train do you think? Do they train once a quarter? Once every six months? A couple of times a year? They train every single day. Sometimes they do doubles. Sometimes they do triples. What people don't understand is that the top producers in any business, but let's just say pro football, they're constantly training. You know what else, they've got a coach. Why would they need a coach? They're the best players in the world. Because the coach sees things they don't. The coach can come up with a game plan. And I think what both you and I do is we focus on training and coaching. Why do people in our industry think that they don't need to train every single day? And, you know, if you or I were training or coaching them, even for 10 or 15 minutes every day, imagine how much better they would be in three months, six months, nine months. And so, I guess that would be my opening pitch, is that if you really want to get good, I mean, you want to be the best in the business, you've got to train a little bit every single day just like the pro football players do. Mark Miletello You know, I'm even more excited now because you're spot on. As a producer, as an agent, sometimes we're out there by ourselves; and here I am, 27 years into my career, and I still have a coach. I still have a mentor. I still look for more knowledge. So, you're exactly right, and that's the type of stuff I knew we were going to get right off the bat from you. Right now, let's break for industry news. There's no secret, the Department of Labor rulings are dominating the news in the insurance and financial services stadium. Tom, help us out. How do you think the industry will or will not change with these Department of Labor rulings? Tom Hegna Well, you know, it's kind of interesting, I was just on a nationwide debate last week with Knute Rothstead. He's the co-founder of the fiduciary standard, and he debated for the ruling. I debated against it. And I'd encourage your listeners to listen to it. It's free. They can go to apviewpoint.com and register for free and it's in there, or just look up any of my social media. I've got the recordings posted, but I encourage them to listen to it. But to your question, I would say this. I think some good things will come out of it. We all know there were some bad products out there. We all know there were some bad people out there. But what I tried to say in the debate is, you know, Bernie Madoff was a fiduciary, but I don't go around saying all the fiduciaries are Bernie Madoff, and I don't have anything wrong with fiduciaries. But my point in the debate is, right now, it's legal in all 50 states to do business with a fiduciary. So, if you really want a fiduciary, guess what? You can do business with one, but not everybody's choosing that. I said this, "If fiduciaries were so good at what they did, if they were so good, guess what, they'd put everybody else out of business." How could State Farm do what they do? How could New York Life do what they do? How could American National do what they do? If fiduciaries are so good, everybody would have to become a fiduciary, or they'd go out of business. But here's the truth, the truth is they aren't always that great. There are fiduciaries who are not taking longevity risk off the table. There are fiduciaries who are not taking long-term care risk off the table. There are fiduciaries who aren't using life insurance to leverage wealth transfer to children and grandchildren. So, my question to them is how can you be doing what's in the best interest of your clients if you're not using annuities, life insurance, and long-term care? So, that is on their side. But on our side, I would say this, I think we are going to see products, maybe a little more leveling of the commission, which I don't think is bad. I don't think there should be necessarily you make more commission on that versus this, and then you're tilted to recommend that over that. I think that's one of the good things that will come out of this rule is that companies are going to really must look at what is in the best interests of their clients? Now I don't agree that just a fiduciary puts their best interests. I see insurance professionals or financial professionals all over the country, every day, who are putting their client's best interests first; but I think there will be some good things that will come out of it as well. Mark Miletello Well, the Department of Labor ruling, I mean, I agree. I think that protecting clients ultimately is the goal, and that's more important than anything, but there is a balance, and I think that's the issue that you're talking about. We must find the balance, right? Tom Hegna Right. And what I proposed, at the end, instead of just beating up on my opponent or just trying to trash the DOL rule, what I tried to propose was a fiduciary process. You see I think the argument about fees versus commission, that's ridiculous. I can show you plenty of places where a commission is better for a client, and they can show you plenty of places where a fee is better. So, let's just agree that the fee commission argument just depends on the client. That's a ridiculous rule. But, let's also agree that nobody knows what's going to be the best. Here's the problem with the fiduciaries. It's the best interest. Did you know that if you go to five different fiduciaries, give them your exact same set of circumstances, you will get five different courses of actions proposed? Speaker 5 Exactly. Tom Hegna All in your best interests? I mean, that doesn't even make sense. How could five different people give five different solutions if this is in my best interest? So, what I say is let's agree that nobody knows what's going to be the best, all right? And what math and science do is when you get into a situation where you don't know what's going to be the best, there are so many variables, what math and science look for is the optimal way to do it. And all optimal means is this will be the best more often than anything else will be the best and it'll never be the worst. So, what I propose and what I talk about all the time, I don't talk about the best way to retire, because nobody knows what's the best way to retire. I talk about the optimal way. And so what I proposed at the end of the debate is something that I think both sides could agree on. What if we had a fiduciary process that said step number one you got to have a plan, and it's got to be in writing, and you need to work with a financial professional, and it needs to be reviewed regularly. That'd be step one. Step two, why don't we insist that they cover their basic living expenses with guaranteed lifetime income. That's what all the PhDs who study retirement say you should do. And then what if we said for the rest of the portfolio you optimize that to protect yourself against inflation. Or, if you weren't in the securities business, you could ladder their income products, so they could have one that starts at age 60, one that starts at age 65, one that starts at age 70; but the key is to give them increasing income for the rest of their life. What if we taught our clients how to maximize their social security benefits? See social security's the largest retirement asset most people have. What if we said that no retirement plan is complete without a plan for long-term care and that we were required to discuss a long-term care plan with the people. And then what if we used life insurance as the most efficient way to pass wealth. That if they have a life insurance policy for the kids, they could spend more of their money in retirement. I said now that is a process that would be based in math and science that, whether you are a fiduciary or non-fiduciary, whether you sell annuities or manage money, or you pay fees or commissions couldn't we agree that that would be a powerful process that would be in the client's best interest, and then we can just disagree. To me, that's the solution. Mark Miletello Wow. And thanks for being a voice for our industry. We need a voice right now more than ever, and really, you're a voice for the client as well. As I've read and studied and followed you, the sound advice you give is on behalf of the client and, like you said, the little things, how commissions are paid, that's the little things. Now giving more than 5,000 speeches and seminars and really influencing hundreds of thousands of advisors out there, let's talk about you. Let's talk about Tom Hegna himself. Can you tell us in your own words how you arrived at the point where you are today? Tom Hegna Well, look, I'm driven right now by one thing. There are 78 million baby boomers out there who are retiring. They're either in retirement or close to retirement. And tens of millions of them are going to run out of money if we don't get to them first. And so, I'm really driven by the fact that I can't get in front of 78 million people, but you know what? You can get in front of a 1,000. They can get in front of a 1,000. They can get in front of a 1,000. They can get in front of a 1,000. So, if I can get in front of 300, 500 thousand advisors, a million advisors, through the leverage of their work, we can get in front of most of these 78 million. Look, most people won't do everything they're supposed to, but we can fix a lot of them. I've been in the business for over 30 years. I've learned a lot in that time. When I was at New York Life, I was kind of in charge of their retirement income push, and so I found out things I never knew. Mortality credits. Longevity credits. I learned things about longevity risk. I learned things about why guaranteed income is so important. And happiness in retirement. See, I talk to people all the time. You know, it's one thing to retire optimal or not optimal, but don't you want to be happy in retirement; because I can show people how they can be happy in retirement. And happiness in retirement is tied almost 100% to guaranteed lifetime income, and so I can demonstrate that to them. I can show them all the research and all the articles that have studied it. And so that's kind of what gets me up in the morning is I'm trying to help 78 million baby boomers. I can't get to all of them, but I can get a bunch of advisors and try to help them help their clients. Mark Miletello Well, perfectly said. I'm looking at the parallels in our history. First, thank you for your service in the army, six years’ service. I had six years’ service in the army, as well, before I started my career, during my career. But I was an agent, I was a producer, and nine years ago I went into management. I had won a lot of the awards that I set out to and had the success that I wanted to have as a producer. I think at a point I wanted to touch more people, as well. I found that my passion and heart is helping clients with what you call miracles, selling life insurance, which I totally agree with that in your book. But what I wanted to do was touch more lives, just like you said. And going into management, I felt like building 20, 30, 40 agents, we could touch more lives and get the message out there. I love the fact that you've taken it even additional, and that's, of course, the reason for this podcast, having a place where we can touch more people, help more people through the things that you talk about and teach in securing and doing the right things. I told you right before we started to show that I read your book a third time Monday on a plane. I couldn't put it down until I got to St. Louis and I must tell you, it just meant something totally different to me at this point in my career. So, we talked about the industry, the news, we talked a little bit about you, and congratulations on all the accomplishments you've had, and the best sellers that you've had. Let's talk a little bit about clients. What is the number one piece of advice, Tom, that you would give to retirees today? Tom Hegna Well, that they've got to have a plan to retire. See, most people don't have a plan. And again, that plan should include some very simple things. They should make sure that their basic living expenses are covered with guaranteed lifetime income so that no matter what happens to the market or no matter what happens to interest rates, they will at least have their basic living expenses covered. Then they got to have a plan for inflation because guaranteed lifetime income, if you just buy one, unless you buy inflation protection on it, it's going to stay the same, and over time prices go up. So, you've got to have a plan for inflation and I leave that up to the advisor. They can recommend a market-based solution of stocks or mutual funds, commodities, real estate, that's fine, or you can ladder your guaranteed products. That's what I've done. I've got eleven of them and I've got them starting at different ages, and so I will have increasing income for the rest of my life. You've got to have a plan to protect yourself against inflation, and then you've got to have a plan to protect yourself against the risk of long-term care. That's probably, after longevity risk, that's the other biggest risk. Seventy-two percent of all people will need to have a plan for long-term care. They should maximize their social security benefits. That's the largest retirement asset that most of them have and, in general, just very simple, the breadwinner should delay. So, if you've got a husband or wife, and the husband made more money than the wife, the wife can take her benefits early if she wants to, but the husband should wait until 70 because his check covers both lives. That's why the breadwinner should delay. And then use your home equity wisely. There are all kinds of new things like reverse mortgage market. You can sell your home and capture capital gains tax breaks, and so use your home equity wisely. Then I always say leave life insurance to your kids for pennies on the dollar, and then just go out and spend your money and have fun in retirement. So, I talk a lot about how to have fun in retirement, how to never run out of money in retirement, and how to not have to go to a nursing home so you get to stay in your house for the rest of your life because you have a plan. And so, those are the concepts that I talk with retirees. Mark Miletello Well, I've been training based on a lot of what you've said, and I've also been following and mentoring with Van Mueller who, by the way, speaks very highly of you. Tom Hegna Dan's a great guy. We go way back. Mark Miletello Absolutely. And so, I've been rolling out to the agents that I'm mentoring and acronym, TVFIL, taxes, volatility, fees, inflation, and longevity. In your book, Paychecks, and Playchecks, you say the greatest threat to retirees is longevity. It's a multiplier of the rest. Can you expound on that? Tom Hegna Yeah, because the longer you live, the more likely the market will crash. The longer you live, the more likely you'll take out too much money. The longer you'll live the more likely inflation will decimate your purchasing power. The longer you live the more likely you're going to need long-term care. What I tell the people is this. Look, if you retire when you're 65, and you drop dead when your 68, it doesn't matter if the market crashes 10,000 points. It doesn't matter if inflation was 15%. It doesn't matter if you were drawing 12% a year. It doesn't matter if you forgot to buy long-term care insurance. You didn't a life long enough. But if you live to be 75, 80, 85, 90, it's all those other risks that will wipe you out. So, of all the research, I can find from the smartest PhDs in the world who study retirement said this: "To retire successfully you must take longevity risk off the table." Well, guess what, stocks can't do that. Bonds can't do that. Mutual funds can't do that. Real estate can't do that. Only some form of an annuity can do it. A lifetime income annuity, you might call it an SPIA, a deferred income annuity, you might call it a DIA, or an income or withdrawal benefit rider from a fixed index variable annuity, that is it. Those are the only things that can take longevity risk off the table. So, you've got to put an annuity in that portfolio. And then people don't understand that the reason is that you put it in the portfolio is to take longevity risk off the table. Why? Because only a life insurance company can issue an annuity. Why? Because only a life insurance company sells life insurance to be on the other side of that risk. See because an insurance company is on both the life insurance and annuity side, that if people die too soon or live too long, they can neutralize themselves. Because if this person lives to be 115, that's okay, that person over there died when they were 60, so they're protected against both longevity and mortality risk because they're on both sides of the risk. Your banker can't do it. Your broker can't do it. Only the life insurance industry can protect people from dying too soon or living too long. That is a mathematical, scientific, and economic fact. Mark Miletello I'm so pumped up right now. I read your book on a plane. I got off to give a speech. I believe it was the most powerful speech of my career. And in the speech, I held up your book and ... it was a study group of the top leaders in my company. I held up your book, and I said, "You have to find your voice right now." One of the things that you said in your book, Paychecks, and Playchecks, you said, "We are at different times." And I think one big message that you give is to wake up. Wake up and look around. And I think that's the hardest thing for me, was for me, is to find that voice like you have found, like Van's found, like others succeeding and ... Let me go back to one little point. You had mentioned annuities that pay for life, and you know what, I get caught up or have been caught up, with clients talking about rates of return. You get completely away from that, and you focus on the longevity. The income stream for life and the value and importance of that, and I really had some of my first discussions where I said that the interest rate doesn't matter. Can you dive a little deeper into how reps should consider ...? Because I've got to be honest, I've sold tons of annuities, tons of life insurance, I've helped protect families and clients; but I've never really until, I think this week, saw the value and importance of what you say and how you use these products to protect people in these uncertain times. Tom Hegna I often talk about the payout rates of annuities. And if you look at SPIA OR a DIA, the guaranteed payout rates for those things are very high. They're 7, 8, 9, 10, 11, 12, 13, 14 percent guaranteed for the rest of the client's life. And I always tell advisors, I say someday if you talk about payout rates the client's going to ask you, "Okay, but what is my interest rate?"  I got two ways to answer that. Number one, "What would you like it to be?" Because the insurance company does not set the interest rate on an income annuity. They set the payout rate. It never sets the interest rate the client by how long they live. So, I say, "If you want a higher interest rate, just live longer. If you want a higher interest rate than that, live longer than that." That's what I love about these products. You get to set your own interest rate. I hope you set it very high. But the second way I handle it is this. It doesn't matter. Just like you said, it doesn't matter what the interest rate is. When somebody asks you "what is the interest rate", in their mind they think this is an investment that they want to compare to their Merrill Lynch or their Schwab or their Edward Jones investment. And what I would say that an income annuity is not an investment. It is a guaranteed paycheck for the rest of your life. So, if I went on an appointment with that advisor, these are the exact words that would come out of my mouth. "I'd say Mr. and Mrs. Client, congratulations, you're now retired. In retirement, you're going to need a paycheck. Now at our company, you can have your paycheck guaranteed or non-guaranteed, which do you prefer?" Most people say guaranteed. "We can guarantee it for your life or for both of your lives, which would you prefer?" Most of them say for both of our lives. So, I repeat it back. "What I just heard you say is you would like a guaranteed paycheck for the rest of both of your lives." Yes. That's what this does. And there's no other product in the world you can buy that will give you a higher guaranteed paycheck for the rest of both of your lives. So, it doesn't matter what the interest rate is. You want a paycheck. You want it guaranteed. You want it guaranteed for the rest of both of your lives. That's what this does. Merrill Lynch, Schwab, E-trade, they can't do that. Mark Miletello So, I've got my checkbook out. I feel like I need to pay you for that. Tom Hegna I mean, let's keep it simple, and let's have fun in the appointments too. I have fun when I'm in front of people. I get in front of more people probably than almost all your listeners combined. So, I'm in front of people every day and I have fun with it. [crosstalk 00:21:36 Mark Miletello Absolutely, and I'm glad I asked that question because I needed the answer to that, and I would imagine a lot of my agents and my listeners as well needed the answer to that. And so, that'll help us find our voice in competing again what interest rate is at, and just spot on. I obviously brought up "Paychecks and Playchecks" several times. That book is just filled with so many nuggets. I've highlighted the entire book, and it's going to be part of my process going forward and training, and teaching, and reading, and learning myself. I'm excited to hear a little bit more about, "Don't Worry Retire", but before that, what inspired you to write "Paychecks and Playchecks"? Tom Hegna Here's kind of what happened. I was still at New York Life at the time when I was asked to speak at the top of the table for MDRT, which is a huge honor. This is a top of the table event of MDRTs, the top of the top of the top, but I didn't know that MDRTs, that to test their speakers because it's a smaller group. It's the highest group, but there are only about 500 people. If you do good there, then they'll ask you to domain platform at MDRT, the general session, where there's six, seven thousand. But anyway, I had a presentation and they said you got have a name for this thing, you got to have a name for this. And we talked about it and said what about Paychecks and Playchecks. I said, "Oh, that's a great name." So, we titled my talk "Paychecks and Playchecks". Well, it was a huge hit, and then I did MBRT the next year in Vancouver. It was a huge hit. I didn't have a book. And that's killer. You're on the main platform at this big thing. I didn't have a book. Everybody said, "You've got to have a book." So, I sat down and I wrote the book and then what we did is we took my "Paychecks and Playchecks" talk from MDRT and we broke it out into chapters, and then we built up the chapters. I put in all the knowledge that I'd learned over the years and that was "Paychecks and Playchecks". And it was a foundational book. It sold over two million dollars. I mean less than one percent of books ever sell a million dollars. That sold over two million and "Don't Worry, Retire Happy" has now sold over a million. So, it's kind of cool. I got two books in the top one percent of all books ever written, but it was I wrote it out of my heart, you know. It was really all the knowledge and all the words and language. Because I tell people this, people think this is a knowledge business. I've got news for them. This is not a knowledge business anymore. You give me an iPad and the internet for 15 minutes, I can figure out anything I need to figure out. This is not a words business. This is a language business. This is a questions business, and this is a stories business. And my books are full of words, language, questions, and stories that are powerful. I always tell people if you don't have your ... People say all the time you got the words, you got the questions, you got the stories. You can borrow the stories, borrow the words, borrow the ... that's what I did when I was brand new. I listened to audiobooks every single day. I watched tapes of the Kinder Brothers so I could close business the way the Kinder Brothers taught me how to close business. I can handle objections the way they taught me to handle rejections. And what I did was learn the words, language, questions, and stories of the top producers in this industry 30 years ago and those words, language, questions, and stories made me millions of dollars. And now I've got the words, language, questions, and stories for this retirement income market and people can make millions of dollars off of that, but they're worried about spending 35 bucks on an audiobook or something. It's crazy. You've got to invest ... and I'll tell you this. The best investment you'll ever make is not in stocks or bonds or bitcoin, the best investment you'll ever make is an investment in yourself. That will make you the most millions. Mark Miletello It's perfectly said. I believe that what you've said it's not that ... you look at my upbringing and my challenges and I had Richard Weylman on the show last week and the struggles that he came through. It's about finding your voice and telling a story. And like I said in a speech, I used several things that you've said from "If a dollar was a second, what would a trillion dollars mean?" And things like that. It's just stories and I held up the book and I said, "You have to learn these stories because you don't have to make them up." They've already ... someone's already paved that way and you learn from the Kinder Brothers. We all have learned and quoted from someone that has inspired us, so thank you for putting that together. You know, I've got some self-published books and maybe that's what I need to do, record myself speaking and quit trying to sit down and write everything out. That's some good advice. But you know what? I work with a young team, but even us veterans we've, keeping with the theme of football, we've all had fumbles; and so, looking back, do you ever think about some mistakes that you could avoid, or you would have avoided for these new agents that are. Tom Hegna Well, kind of my best advice for new people is activity. I say an app a day keeps depression away. Look, this is a business is where you go way up, and you go way down emotionally. You go out and you close a million-dollar sale and you're on top of the world, "Oh, man I just sold the biggest case I ever did." And then two days later you get a call, and he says "Well, I talked to my brother-in-law. He says it's stupid. Please cancel that." Or, the guy got declined, or he changed his mind, or whatever. And now you're down and the depths of depression, and then you write another case and you go up here and then something bad happens, and you go down here. So, what got me through the storms, because I went up and down terribly. My first, in my first year, was very hard, but what I found is the more activity I had, then I could weather it. See if I got 12 applications in, and I lose one no big deal. If I got one application in, and I lose one, that's a life-threatening event. So, I started trying to see three people a day and then once I started doing that I saw five people a day. And then I would see seven people every day, and if you're seeing five to seven people every day, I promise you, you'll get through it. An app away keeps depression away. I tried to write at least one app a day, and my record I think was 13 apps in one day and I routinely get five or six in a day, that was not uncommon at all. I never had a blank week my entire time as a producer. I'm kind of proud about that because it was drilled into me activity, activity, activity. And so, there are only three ways to increase your production. See the people. See the people. See the people. So, I would encourage new advisors, see people face to face every single day. Mark Miletello Well, we can dive more into that. That could be its own separate show, but the good news on this show is you get the repeat of a first down. You get a do-over, so you're starting over, Tom, you know how tough today is, you're starting over right now, how do you grow a successful practice? I think you've given us a lot of these nuggets already, but I'm just going to point blank ask you because this is what a new agent wants to hear. What do you hear today? Tom Hegna I think you've got to build your frontal as full as you can, and what I mean is that you've got to be on social media. You've got to be on Facebook. You've got to be on Twitter. You've got to be on LinkedIn. I guess Instagram for millennials and all these guys. But you've got to be on social media. You've got to network and get as many people into your funnel. I don't care how well you know them. Go to Chamber of Commerce, get everybody's business card, put them in your funnel, connect with everybody you can. Because what you want to do it early in your business now you want to get thousands of people in your funnel of social media and then you want to watch your social media because you can learn a lot about people. Oh, we got engaged. That'd be a perfect person to call. Oh, we just got married. Oh, my dad died. My mom died. We had a baby. All that's on social media. Well, those are all life events that people need to buy more life insurance and they need to roll their 401K or they need to do something, right? So now today we can know when all these things are happening. When I was an agent, we didn't know. We had to buy a baby list from the paper or something and we'd get it like six weeks later or something, or the obituary list and you got go through there and figure whose parents they are. I mean, really, seriously? Now you've got all these tools and then there are marketing people that I'm not the marketing guy, but there are marketing people that can help you do campaigns and do things to get more leads. And then I would encourage people to do seminar selling. It does work. It's not dead. People think it's dead. It's not dead. I do seminars every single day almost. And they fill the place with three, four, five hundred people. If you're giving great content, great content, people will come. The number one producer I work with is a guy down and Florida. He does about a million a month in commission, a million a month, okay? And he runs educational seminars, no food; he brings them in two or three a day, does two or three days a month, he brings in top speakers, he said all the money I used to spend on restaurants now I put into my speakers. And he just is known as the educational place for all these retirees and they bring their friends, their neighbors, their brothers, their sisters. There's no selling done at these seminars. They are just educational workshops. He brings me in. He brings in Mary Beth Franklin, and he brings Moshe Maleski in, and he just educates people in the community. And guess what, they do a lot of business on him. Mark Miletello I bet. Well, activity is the key, we all know that, and you're right. There are almost so many places to go to create an activity that one doesn't know where to go. I think sometimes they're just looking around at all the different places and they don't know which one to choose. But you said get out there, get involved, and everyone watches it, make contacts because one thing you and I know that it's about timing more important than anything. You can call me today and discuss an annuity and a year and a half from now might be the right time to discuss that annuity. So, in this industry what I've found is when I was born there wasn't a big sign at the hospital that said Welcome into the world, Mark Miletello, natural born insurance salesman or financial services agent. No one's born, you know, you practice, rehearse, study, and so whether you find yourself successful or not, I believe activity is the key and timing, as well, is the key and with social media, we can hit that timing a lot better than we did just culling obituaries. Tom Hegna It's a numbers game, right? So, you want to have lots of numbers in your circle. As many as you can, even if you don't know them well. Then it's a timing thing, and then you've got to have the skills. So, it's really three things. It's numbers, it's timing, and it's skilled. And so, if you have the skills if you have the words, the language, the questions, and the stories and you know somebody who's right for talking to and you have enough of those people every day you've got people to go see every day. Just stop by. Hey, I saw you had a baby. We have a bib in our office, and it's just, you know, give them something. We used to hand out road atlases. I don't know what you hand out anymore, but just something you could give them, or bring them a little present, bring them some chocolates. I don't know what but get in front of people who it's the right time to talk about things and build a relationship with them and then help them. Do what's in their best interest, and they'll refer people to you. Mark Miletello Wonderful. Well, Tom, it's the future. It's the year 2027. This is maybe one of the toughest questions I'm going to ask you because this is on the minds of all of us with everything going on around, but also technology the future. What will the industry look like in ten years and how do we fit in, how do we stay relevant? Tom Hegna Well, there's all kinds of people worried about that, and I know on the P&C side they're worried that amazon.com is going to have a little thing you just plug into the USB port and you drive from here to the store and it just charges 12 cents to your prime account for insurance. And then you drive across to California and it's $2.42 for insurance. That your insurance will charge you by the number of miles that you drive, and it will be automatic, and you won't have to worry about it. That's was the P&C people are worried about. I think for life insurance, annuities, and long-term care investments you know these robot advisors, yeah, that's fine, let's see how that all works when that market crashes 50 percent. At the end of the day, people need help from people. People trust people. And I think they're going to need a financial person to walk them through this. The average person doesn't spend enough time learning about this stuff and what they hear, they hear from Ken Fisher or Susie Orman or Dave Ramsey. People are giving them opinions, not facts. And that's why I say stick with Tommy. Tommy's got the facts, and the facts beat opinions 100 percent of the time. And so, if we can just present them mathematical, scientific, and economic facts these are irrefutable. These are not opinions. I can win every argument with Ken Fisher because he's dead wrong. You know when he says, "Oh, anything you can do with an annuity, you can do better elsewhere." That's a lie. You know what I'm going to do? This week, I'm going to write an open letter to the SEC, because what I think he is doing is almost criminal and he's leading people astray and for the SEC and [Senator 00:34:37 to allow that kind of stuff to happen ... I'm just going to write an open letter and I'm going to clearly expose him for what he's doing. He's not doing good things. So, I got math and science behind me. He's got his opinion. Let's see how that works for him when that market crashes 50 percent. Mark Miletello Well, what you're saying is, we can't predict what the next 10 years are going to be, but we can sure be prepared. We can be an advocate for our clients. So, thank you for protecting us, and doing those things. You're right. Some of it is ... I don't even know what to say about some of the things that I hear, but one thing that I keep going back to that's one of the most powerful things that I've read in your book, and that's, "I talk about facts." I'm going to use that if you don't mind. I'm going to steal that when I'm talking to clients is that you know let's not look at all the opinions out there, let's talk facts. Tom Hegna Facts win, every time. Mark Miletello That's right. So, look, I would like to keep you for hours on end. I know your time's valuable, and thank you for sharing with us. We've gotten so much already. I'd like to ask you a hundred more questions, but give us your professional recommendations. How do we get started following you? What steps do we take to find, maybe this is a two-pronged question, but how do we get started to find a voice like you have found? Is part of that following you? What can we do? Tom Hegna Well, look, I know you got some great training, and you said Van was one of your mentors. Van and I are good friends. We've done a lot of work together. Joe Jordan was one of my mentors, as were the Kinder Brothers, as were some of the top producers back in the day, the Ben. And now Mark Feldman has a great book, "Man on a Mission", all about life insurance. Great life insurance questions. But if people want to follow me, I'm at tomhegna.com. I'm easy to find. If you google my name a million things will pop up. I got free videos on YouTube they can sure watch. I've got a subscription service called Tom Hegna on Demand where I literally put my entire brain online, sorted by video clips, three to eight minutes. over ten hours sorted by life insurance, annuities, long-term care, questions, sales ideas, handling objections, social security, all that stuff. So, my entire brain is there available 24 hours day, seven days a week. And I say what if you spent 10 minutes a day there, 15 minutes a day, or what. How good would you be in three months or six months or nine months? There's also a coaching site where, let's say, they get to the appointment at ten minutes early. They get on the iPhone. They go to the coaching site, and a video of me pops up. I say, tell me about this appointment. Is your client single or married? They put single. How old is this person? She's 70. Once you hit those two buttons, a video of me pops up. Okay, so you're going to an appointment with a 70-year-old widow. Here's going to be her key questions. Here's how I would answer those. Here's going to be her objections. Here's how I would answer those. Here's the product you're going to want to use. Here are the questions you want to ask her. And I coach you for 5, 10 minutes before you go on your appointment. The next day you're going on an appointment with a 45-year-old couple. You hit married, 45, and I coach you totally different than I did for the 70-year-old widow. Now that's all available online. We've got package deals on our podcast. So just go to tomhegna.com. I'm easy to find. Mark Miletello Well, the financial investment is ridiculous. That's a no-brainer. What we must do, and what I've tried to teach and install in the ones that I mentor is the time investment. And it's not that much. It could be 5, 10 minutes. It could be a ride on an airplane. But we must take what you're handing us, and we got to pass it down to the next generation. We got to build upon that, so that's what this podcast is for, is to reach out. With all the noise out there, it's getting hard to find who's the real deal. And you are the real deal, and I'm going to continue to follow you. I appreciate the advice on man on a mission. I didn't know that one. I'll look that one up. I hope that everyone out there listening to this will immediately go to your website. You are one of the top one or two that I recommend following, as well as you mentioned, Gary Kinder, the Kinder Brothers, and Van Mueller as well. So, thank you for being a guest on the show, and thank you for all you do. Tom Hegna Thank you, Mark. Great being with you. Mark Miletello Absolutely, and you can follow me on markmiletello.com. If you like what you hear on the show, go to iTunes and rate and review, and you'll help others find us.    

Fasten your seatbelts, keep your arms inside the car at all times, and hang on! Author, TV personality and retirement guru Tom Hegna, takes us on a fast and wild ride... Listen as Tom shares his wisdom on... Why words, language, questions, and stories are the key to selling... How to use seminar selling to overcome prospects' objections before you're in a sales meeting... Breaking sales down to the absurdly simple... How to persevere through the ups and downs in business (and guarantee that you move higher with every cycle)... The one word that drives Tom's social media success... Timeline 00:13 Steve introduces Tom Hegna. 00:33 Tom gives us his background in quick-fire bullet points and tells us exactly what he does: advises people how to “Optimally Retire”. 02:40 Tom talks about life and how he gets over the obstacles that that get thrown at him. 04:17 Tom explains how the life insurance business is about “Words, Questions & Stories” and how to make 50K-300K per year. 06:18 Tom tells us why he loves Seminar Selling, Referrals and Social Media all while being authentic. 10:06 Steve agrees with the importance of both Seminar Selling and Authenticity. 11:36 Tom actually doesn't sell insurance, he creates buyers. 13:56 Tom tells us what he's got lined up for the future. Teaming up with like-minded people and companies. 15:23 Tom tells us how best to get in touch with him. Mentioned in this episode: Book: Paychecks and Playchecks www.tomhegna.com

With the uncertainty of social security and pensions becoming a thing of the past, retirement income planning has to be a top priority for those looking forward to retirement. Join Prism Insurance Agency with our guest to discuss the changes that have occurred over the past twenty years and the rules that we face planning for retirement. We’ll share practical solutions to help you plan for a long, successful retirement. www.myprisminsurance.com/ www.youtube.com/user/PrismInsuranceAgency www.linkedin.com/company/prism-insurance-agency www.twitter.com/prismins www.facebook.com/PrismIns/ http://www.myprisminsurance.com/life/

What's our late fee? Major and Lise are back to apply a smooth layer to 2017. This week the ladies talk folks aiming to lose their jobs on New Year's Eve, Mariah Don't Care-y at all, Drake is for everybody, The King of Misogynoir came for our Asian baes, our stories on the silverscreens, and the Golden Globes were bad, boujee and very Black. For Let's Talk About It Sis, it is so hard to say goodbye to the Obamas...and you can't make us! A inspirational teacher gets our love offering, and Lise is willing to wait for Atlanta to travel to a galaxy far, far away. Major spotlights an aspiring librarian and a Nashville native who we won't let be a Hidden Figure.  Love our new intro? Follow the producer on Soundcloud @hitmanmemphis Listen to this episode and others on The Nashville Winner's Circle's Best Blog of 2016 www.nashvillesocialbutterfly.com - - - -  Follow us @toycpodcast on Twitter, Instagram and Snapchat  Like us on Facebook at www.facebook.com/toycpodcast Email us at toycpodcast@gmail.com Archives at www.toycpodcast.libsyn.com  - - - - Nashville Happenings:  -12/17  Paychecks and Playchecks by @knowledgebanknashville at American Baptist College