Well, I am not talking about losing interest in activities, etc. I am talking about the paltry interest being earned on bank CD’s. Please allow me to review that landscape. At the time of this writing, the Fed 10 year bumped above 2% the average 5 year CD rate, according to bankrate.com is .35%. The highest they showed was at Pentagon Federal Credit Union at 1.3%. Okay, what might the banks do? Most predict… nothing. They have too many deposits, and will not start hunting for more deposits until they can find good loans to make and a good profit. Why should they allocate monies to back up these deposits if the profit isn’t there? So, very paltry returns for the American saver. Please allow me to continue…
The new annual inflation number came out this week: 7.5%, which is the highest in 40 years. And, I believe, “you ain’t seen nothin yet.” Findings show that the average American household is spending $287 more per month to feed, drive, clothe and more. There is tremendous volatility in the equity market today and many retirees, or soon to be retired, are pulling their money out of the market. Most will probably never get back in and they won’t recover. Let’s do some simple math. If inflation is raging at 7.5% and your client can get 1.3% on a cd, they are going nowhere fast. Can I continue?
Okay, Americans love CD’s. And, this FDIC product is a great place for “some of their money.” So, why not help them out with a 5 year MYGA? Ladies and gents, we have them at 3%. That is more than double the highest rates I found today. Some of you might have read my article in one of my books entitled, “If they want a ham sandwich… give them a ham sandwich.” Yes, you have other products like FIA’s that could yield more. But, let’s help Americans out, get new clients and total account develop the clients you now have. If I have your interest, book an appointment with one of our marketing consultants to find the best MYGA rates in America.
The new annual inflation number came out this week: 7.5%, which is the highest in 40 years. And, I believe, “you ain’t seen nothin yet.” Findings show that the average American household is spending $287 more per month to feed, drive, clothe and more. There is tremendous volatility in the equity market today and many retirees, or soon to be retired, are pulling their money out of the market. Most will probably never get back in and they won’t recover. Let’s do some simple math. If inflation is raging at 7.5% and your client can get 1.3% on a cd, they are going nowhere fast. Can I continue?
Okay, Americans love CD’s. And, this FDIC product is a great place for “some of their money.” So, why not help them out with a 5 year MYGA? Ladies and gents, we have them at 3%. That is more than double the highest rates I found today. Some of you might have read my article in one of my books entitled, “If they want a ham sandwich… give them a ham sandwich.” Yes, you have other products like FIA’s that could yield more. But, let’s help Americans out, get new clients and total account develop the clients you now have. If I have your interest, book an appointment with one of our marketing consultants to find the best MYGA rates in America.
 | Until next time… good selling! Raymond J. Ohlson, CLU, CRC, LACP President and CEO The Ohlson Group 1-877-844-0900 |
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