Do You Remember When…

Have your client remember back to how inexpensive things USED to be …

  • Ask them how much different things used to cost
  • Get them talking about their past

Now they want a guaranteed income for the rest of their lives, and they are expecting you to help them.

Through using this “re-collection of how things cost” exercise, you can lead them into a conversation about how much things will cost in the future. This income has to last for the rest of their LIVES … and that could be potentially 15-30 years.

By purchasing a SPIA with a lower payout now and putting an inflation option on there, their income will more likely keep up with the increase in the cost of living that WILL occur over time.

Use the “remember when” exercise to paint a picture for them that will enable them to see the need for the inflation option. You can also supplement this with a simple spreadsheet that compares the cost of things now with a projection of how much things will cost 5, 10, 15, 20 years out.

A list of “Remember When” factoids follows on the next page. Numerous other examples can be found on the Internet.

Do you remember …

Let’s go back . . .
Close our eyes . . .
And go back . . .

Before the Internet or the PC or MAC.
Before the drug war and crack.
Before chronic and ritalin and dysfunctional.
Before SEGA or Super Nintendo.
Before…..
Way back . . .
I’m talkin’ bout hide and go seek at dusk.
Sittin’ on the porch, HOT fresh from the oven bread or bisquits and butter. A time when mom or grandma would make bread and biscuits from scratch, not just scratch them out of a box of store-bought mix. (And we could snitch pieces of dough, or help push down and knead the bread, or cut the bisquits with a mason jar ring and plop them on the cooking sheet. Didn’t it smell good??)

 

Do you remember …
· Watchin’ Saturday Morning cartoons at the Rialto , all day for 10¢. And if your allowance was a quarter, you had enough left over for 2 bags of popcorn and a soda!!
· When there were 5¢ and 10¢ stores, where you bought things for 5¢ and 10¢.
· BiRite and Tripenys sold ice cream cones for a nickel or a dime, for a single or a double.
· For one nickel you could ride a bus, make a phone call, buy a Pepsi or a Coke, or enough stamps to mail one letter and two postcards.
· You could buy a new Chevy Coupe for $600 (but who could afford one?)..and gas was 11¢ a gallon for regular and Ethyl was 13¢ a gallon.
· You could get a FULL breakfast of coffee, juice, 2 eggs, hash browns, a slab of ham or sausage or four pieces of bacon, toast and jelly for 39¢ !!!