A 747 And A Retirement Income Analysis

Just like pictures are worth 1,000 words, stories can be equally powerful.

Here’s a great way to explain why it’s in their best interest to have a Retirement Income Analysis prepared NOW, compared to waiting until they’re well into retirement.

This 747 analogy makes so much sense and if explained properly, prospects definitely “get it”. So here’s the story you’ll want to memorize and share with prospects wondering why they should have you prepare a Retirement Income Analysis for them.

747 Story

Let’s assume you’re flying on a 747 from Los Angeles to New York City, but the prob- lem is they’ve only put enough fuel onboard to get you somewhere over Chicago. So, it’s four hours later, you’re 30,000 feet in the air, somewhere over Chicago, and you’re out of fuel, but you’re only two-thirds of the way to your destination.

When would be the best time to address that shortfall? When you’re 30,000 feet in the air over Chicago, and you’re out of fuel…Or while sitting on the ground in Los Angeles before that plane ever takes off?

The answer is pretty obvious, isn’t it? You’d take care of it on the ground before that plane ever took off.

See, here is how you should relate that story to a Retirement Income Analysis.

• Los Angeles = you’re about to retire
• New York = the end of your life
• Chicago = well into your retirement, you’ve been retired for several years
• Out of fuel = out of money, your nest egg has been depleted
• Two-thirds of the way to your destination = 20 years into retirement, but you

could easily live another 10 or 15 years
So, now let’s redo that story plugging in these new components as it relates to a

Retirement Income Analysis….NOW.

When would be a good time to address that shortfall? When you’re two-thirds of the way into your retirement, and you’re out of money, but you could easily live another 10 or 15 years….Or while you’re still working, before you enter retire- ment so you’ve got time to make adjustments?

By having a Retirement Income Analysis prepared NOW, before you board the plane, you’ve got time to course correct and make appropriate adjustments.

If you wait until you’re 20 years into retirement, it doesn’t leave you with much wiggle room to make any adjustments at all.

This is why it’s in their best interest to take advantage of a no cost, no obligation Retirement Income Analysis NOW.

I don’t know about you, but this is not an area you want to cut too close. I don’t want to have enough fuel on board so I barely arrive at my destination. No…I want to arrive at my destination with plenty to spare. You never know. I just might

A 747 And A RetiRement income AnAlysis | 2

need the extra fuel held in the reserve tank for some unforeseen event.

You and I both know flights get diverted due to bad weather, outright cancelled, or they have a mechanical issue and they’re delayed. Flights are routinely late for a whole host of issues.

Retirements can get sidetracked as well.

The issues for your clients are bad investments, poor planning, taking too much risk, not diversifying, rising health care costs that have decimated their portfolio, living longer, and a whole host of issues.

I hope this helps you to explain to your prospects the importance of taking action NOW.