Ask your client, “How do you feel about the economy in 2020?”

Many publications and organizations (including MDRT) are addressing the fact that a large percentage of Americans feel as though a recession is likely in 2020.  Now, for people that are more than 5 years away from retirement, that is okay as they will have time to financially recover.  But, what about those that are within 5 years of retirement?  Also, what about those that are already in retirement?  Do they have the time to recover?  Also, what if they have plans to start taking retirement income out of their portfolio and the markets go down?

You know, I think there is a pretty simple solution for our clients that can’t afford a 5%, 10% or more loss in their equity portfolios. Maybe they need to look to see if they have the “appropriate” amount of their nest eggs at risk?  Maybe it is time for a very frank conversation.  Maybe it is time to ask these questions.  I am not immune to the potential recession or market downturn. 

​We all know that this will happen sometime.  But, when?  Correct, if we knew the exact date we would make millions of dollars writing books, speaking and counseling the world.  But, of course, we don’t know when.  So, grab a cup of coffee with your prospects and clients and have them take a look at their nest eggs and make decisions.

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Until next time… good selling!

Raymond J. Ohlson, CLU, CRC, LACP
​President and CEO of The Ohlson Group
1-877-844-0900