I was wondering if anyone has used the financial planning service offered by Primerica. Has anyone had a positive or negative experience with them? I’m hesitant because of their whole recruiting representatives thing in their presentation makes me question things.
This is just regarding their financial planning service…not employment.
If you’re a Primerica rep, please don’t answer this.
This is basically what I do when I sit down with clients. I educate them on how money works, how life insurance works, and how to get out of debt. Then I ask them what their goals are, when they plan to retire, what percentage of their current income do they need when they retire(usually its between 80% to 100%), and so on. Then I gather all important financial documents such as mortgage documents and statements, credit card statements, any other loans such as student loans or car loan statements, any life insurance policies, any investment statements, etc.
So I know their goals and with all the necessary documents I gathered, I also know exactly their current financial situation. Using this information, I figure a way to help them make adjustments in their current situation so that they can reach their goals. I say that 99% of my clients don’t spend a single cent more than what they are currently spending. I just move money around. After all this work, I present my financial needs analysis to my client and recommend what they should do. I do a side by side comparison and let them decide what they think is better for them. Side A shows them what they currently own and Side B shows my proposal. So far, all my clients choose Side B because it saves them more money, get more coverage on their life insurance, get them out of debt sooner and reducing their total interest, and have more wealth built up by the time they retire. If there’s a shortfall of income, I talk to them about the business opportunity at Primerica.
I hope this gives you an insight on what Primerica does for families. Its not all about recruiting. Thats only one side of the business. Its also doing the right thing for our clients.