Here are some sample sections from Financial Mistakes of New College Graduates:

lulu_CollGrad-Cover-small“Example: let’s compound out between now and retirement age, real quick, paying taxes every year, or letting the money accumulate in a tax shield. For simplicity let’s say taxes are going to be 33%, and you put aside $5k a year, earn 9% per year like clockwork, and it sits there for 40 years. If you do this, it’s called a Roth IRA by the way, you would have $1,689,412. If you pay taxes every year along the way, so the 9% really becomes 6% after one third goes to the taxman, you have after 40 years (drum roll please)….$773,810! A difference of almost a million dollars for just being a little smarter! That’s real money ladies and gentlemen. You get that, in your pocket, for just taking advantage of what is in the Code, but doing everything else exactly the same as your buddy who wasn’t quite as smart. Think of the money they have to pay as the stupid tax.”


“Now, we don’t want too much cash sitting around, because at the top of the Savings level is the Inflation Line. Things cost more over time, which is the way of the world. What did a beer cost when you were a freshman? Now? I remember quarter drafts on Mug Night! Ten bucks doesn’t buy what it used to. Things below the Inflation Line lose ground over time.”

and of course, to abuse the Red Sox Nation:

“And remember that there are two ways to make money: people at work and money at work. Money at work is much more efficient than people because my money that is in the market is still working when I am sleeping or watching the Yankees thump the Sawx.”


And here are some from the new book “Do You Want To Make MDRT, Or Not?”, co-authored by Dr. John Stolk.



2011, The Unique Minds Consulting Group, LLC

All Rights Reserved.

You are going to fail in this business. There, we said it. We hope

you were told this before you decided to enter this field, but

management “didn’t want to scare you” as we have been told by

several offices. Better for you to hear the cold hard truth before it

blindsides you. You are going to fail. You are going to fail in this

business every single day, hopefully multiple times. And that is a

good thing.

Quick: who is the non steroids tainted Home Run King of Major

League Baseball? That’s right, Hammerin’ Hank Aaron with 762

home runs. Did you realize that he had more strikeouts than

home runs? That the greatest hitters ever (Cobb, Williams, Ruth)

failed to get on base over half the time! Every single baseball

player who has had enough opportunities (plate appearances) that

their output can not be attributed to pure dumb luck (or better

hitting through chemistry like Bonds) has failed at a significant

rate. As will you.


You Are Valuable

One thing that REALLY bothers us is when we see young

financial Representatives begging for referrals and discounting

themselves until they are essentially crawling on the floor.

“Please help me stay in business by throwing me a bone and

meeting with me at seven at night! I’ll do anything to get just one

introduction from you!”

Grow a backbone, stand up, and be a man. Or a woman. But be a

professional! You are a well trained, licensed, and regulated

professional. Stop crawling on your belly in the dirt and look the

potential client in the eye and KNOW that you are important and

will make their life better and as such are highly valuable.

Believe in yourself and what you do and proudly talk about it

with them so that they can believe in you and what you do too.


The secret process of success is to follow the planning cycle (also

called the sales cycle). Just like harvesting crops can only follow

the plowing and sowing of the fields, then the nurturing of the

crops in their natural order, so too does selling financial products

naturally follow fact finding and problem discovery and closing.

It is the natural order of things, and when you try to violate the

natural order you create chaos and abominations. Embrace and

adopt the sales cycle, trust in it and you will be well served

because your activities will naturally lead to sales and success.

Always maintain the integrity of your process and you will have a

high probability of success in any particular client engagement.


Let’s get something perfectly clear. Referrals are the only way to

build a business. Cold calling is for people that like to get

punched in the face again and again and again. As martial artists

we have learned that not getting hit is better than getting hit, not

because of the effect of any particular punch or kick but the

accumulated effect. Repeated blows to the head cause brain

damage. If you get hung up on or told NO! one hundred times a

day (which is the threshold to survive in a cold call environment),

either you are a masochist or it will suck away your will to live

and self esteem. It will literally damage your psyche to try and

survive just by cold calling. It also wastes time, because all the

studies have shown that working on an introductory basis is many

times more effective than cold calling. You can literally be told

NO one tenth as often while building a more successful practice

and business if you transition to introductory based relationships

with clients. That is probably a much more efficient and fun way

to go about your career.

But if you want to continue to buy the same lead lists as everyone

else or call the people in the paper having babies and buying

houses, feel free. Knock yourself out, since you have about as

much chance of success as pulling the Ace of Spades from a deck.

While you are at it, just go to the casino and put it all on 00 on the

roulette wheel and get through your misery and go broke quicker,

as you have about that much of a chance of building a sustainable

MDRT level business if you are cold calling for appointments.

Might as well stand on a street corner and ask everyone that walks

by “Hey buddy, wanna buy some life insurance?” because it will

be about as effective.