Much like Goldilocks looking for the right porridge, investors preparing for retirement have a great deal of choices and many are not “just right.” I’m the lead portfolio manager of The Principal target date series, and I’m going to use a fairy tale analogy to help explain the forest and the path we take through it. Target date investment options are designed to help an individual navigate the course between a career of saving and a comfortable retirement. Read more
Posts from the ‘Advisor’ Category
If you haven’t noticed yet, I’m fan of food, and this won’t be my last analogy incorporating something delicious in 2014.
Last week, I was looking back over 2013, identifying what I learned and can share with you in 2014. My first thought: trick-or-treating with my kids.
My kids had set a goal this year to get as many Kit Kats as they could, 100 was a good number. They’re fans and frankly, I can’t blame them. At the start of the night, I laughed at their plan, but by the end of the night, the final count was 114 Kit Kats! They had crushed their original goal of 100 Kit Kats. How in the world could a 7-and 5-year-old get that many? The answer? It was right in front of me.
Regardless of how you go about your annual planning, you should: Read more
Have you ever watched an ultimate fighter train? I have. It’s fascinating. Imagine a steel cage, six fighters, five five-minute rounds, two-minute breaks in between. Every five minutes a new fighter with fresh legs comes in the ring to take on the guy who’s training. By the time the fifth person comes in the ring the guy, or gal, training is gassing hard. For them, they train like they fight – hard. Give it all you’ve got and then, give it some more with tenacity, passion and unfaltering perseverance to get to the ultimate goal.
If you think about it, a fighter is training for at best, 25 minutes in the ring. When we prepare for retirement, we are training for the rest of our lives. When they say your life depends on it, well it really does. Read more
Recently The Nyhart Company of Indianapolis, Ind. was named one of The Principal 10 Best Companies for Employee Financial Security. http://www.principal.com/about/news/2013/crp-10best-111913.htm
As a winner, they were featured in national media outlets such as Fox Business and Yahoo! Finance as well as local media outlets including the Indianapolis Star. The company’s employees already knew that this 70-year-old employee-owned company valued them as was evident at the award ceremony. A picture of just some of their 110 associates on the day of the recognition event:
As parents we often tell our kids to try their best (or harder or again). After all, in many things, it is effort that matters. But, as the great philosopher Yoda reminds us of in Star Wars: Episode 5 –The Empire Strikes Back sometimes effort is not enough.
“Try not. Do…or do not. There is no try.”
Yoda not so gently reminds Luke that results matter. Granted, most of us are not trying to save the entire galaxy from the evil empire; it does not diminish the fact that results matter.
Ryan Schutty covered cold calling – creating your list (remember to personalize) to overcoming objections (interrupt their pattern). I covered a method you can use in your first meeting – ICC: inquire, clarify and challenge. Now, it’s finally time to close the sale. We may not like the ABC method (always be closing) – but that doesn’t mean we never close.
In between the first and second meeting, you’ll need to come up with a strategy. One way to do this: benchmark the retirement plan. A good benchmark helps make your review tangible and be a foundation of your second meeting.
With some plans, you might simply benchmark the investment options, cost, and service provider. In other situations, it might be worth going the next step and benchmarking plan design features like match, eligibility, and vesting.
To maximize your chances of closing during the second meeting, try following these 3 simple steps: Read more