As we wrap up the first Truth Training of 2021, and the last one in the current Paradigm Life building (they’re moving locations), it feels fitting to add another round of quotes. We’re fortunate to work with some of the brightest minds in the business, and we love sharing nuggets for those minds who could not attend. Or those who could and want to review!
Unless otherwise noted, quotes are from Todd.
Quotes on Truth
“We all want to be right. If you’re really seeking Truth, you have to be willing to be wrong.”
“[Clients] are battling the desire to be right, and that’s what we have to overcome.”
Quotes on Software
“When you’re new to the ideas, the software is going to be a serious tool to back that up.”
“You have to be careful that the software doesn’t become: ‘See, you’re wrong and I’m right.’ “
“The software should be a confidence builder for you before you meet [with clients], and then something to back you up.”
“If a simple calculator is all I need, I’m not going to overcomplicate it.”
Quotes on Being Intentional
Peter Diamandis: “Without a target, you’ll miss it every time.”
Kim Butler: “Don’t be afraid to try some things and fail.”
“If there’s a finite amount of time and energy, I want to spend it doing the most efficient things possible.”
Quotes on Working with Clients
“A client can only handle so much. If you do too much [with them], you’re going to undo what you were hoping to do.”
“If I can get my clients to the education level where they can make a decision, I have the next 30 years with them to teach.”
“What good are you if a computer can do what you do? But it can’t–all it can give you is the pure mathematics.”
“When we understand our clients, sometimes a wrong mathematical decision can be the bet decision for your client.”
“You can’t project your meaning of money onto clients.”
Kim Butler: “One of the best skills we can learn is to ask a question, and then be quiet.”
Quotes on Opportunity Cost
“You cannot leave time out of the equation. Time is a third dimension that you do not learn in grade school. You cannot take anything [in finance] out of time and be correct.”
“There is no such thing as simple interest.”
“Just as you can’t take time out of your calculations, you cannot add and subtract rates and be accurate.”
Quotes on Whole Life Insurance
“Where does the strength of the life insurance policy lie, the cash value or the policy loan?”
“When the policy loan becomes a license to buy, you’re sending your clients down the wrong path.”
“Can you make somebody rich with life insurance? No. The best you can hope is to replace their human life value.”
Quotes on Language
“There’s language being used incorrectly, and who is it impacting? All of us.”
“Does life insurance have a good reputation, or a bad one? And is it fair? Maybe.” (Because the language and tactics used can often be ineffective.)
Quotes on Certainty and Uncertainty
Patrick Donahoe: “The quality of your life is in direct proportion to the amount of uncertainty that you can comfortably live with.”
Life insurance can make someone rich if understood and utilized during life.
Numerous examples of this concept exist.
Hi Ken, it’s definitely important we add context, so thank you for your comment! When Todd says life insurance can’t make someone rich, he means that you can’t over-insure someone. Companies have limits, and you can’t buy more than the human life value. Sometimes clients have the objection that they “don’t want to make their kids rich” with the death benefit. However the insurance itself won’t do that, because it’s replacing a lifetime of lost income. A million dollars is less than we think when stretched over decades, with inflation.
Of course there are ways to optimize your policy and create new cash flow, if properly utilized during life–we’re big advocates for the living benefits of whole life insurance.