Truth Quotes, Part 1

We had the privilege of conducting a Truth Training in Salt Lake City hosted by Paradigm Life. Jay Gentry of Chandler Advisors, LLC compiled his favorite quotes from the training. (Thanks Jay!)

We hope you'll enjoy (and maybe even repeat) some of these “Truth Quotes”:

“Eliminate ‘government' from our vocabulary and replace with ‘taxpayers.' ”

“#1 job of a life insurance company is to be profitable.”

“FDIC money doesn’t actually exist.”

“Carriers ‘earmark’ interest up front.”

“Banking is simply doing the same as all other retail – they are marking up money.”

“Monthly premium charge = the carrier loaning the annual premium.”

“Ask clients early on if they are analytical or conceptual.”

“Retire on less? Every day is Saturday and you are somehow going to spend less?”

“Income tax initially was a temporary, never to exceed 7% income tax.”

“In order to stay mutual, the insurance carrier must – by law – ultimately distribute all profits pro rata to the policyholders.”

“There are no deals in the insurance industry- everything is a trade-off. Less risk to them = more risk to client.”

“We must understand real world vs. pure economics.”

“We don’t get to pay the interest at the end.” (when showing the maximum potential calculator)

“Accountants do not do tax planning- they do tax reporting.”

(Quotes compliments of Todd Langford, though we make no claims that he originated all of them!)

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