Primerica

Primerica Financial Services
"Help families become debt free and financially independent"

"Knowledge is everything, arm your self with it"

This is a question and answer session about the power of network marketing, and Primerica. Do you know what these are? If you do not, I encourage you to read this Q and A.

What is Primerica?

Primerica is a network marketing company affiliated with CitiGroup.

For the basics and history of Primerica, check out the Wikipedia article HERE.
The following is my interpretation, and the most important impacts and what Primerica has to you with you.

What is network marketing?

"This is something that you need to know about. Consider this the public memo on network marketing companies because you are going to see alot more of these very soon.
Network Marketing is the future of business. Why do you have to go to Wal-Mart when they can come to you. Everything that you need can be delivered to your house.

What do I have to do with Primerica? Why should you care?

Let me tell you what we do.

As our slogan says we help families become debt free. This is true.

What I have learned from working with CitiGroup...

I have to say that out of the 16 jobs that i have had, that Primerica is in the top five. Now i have to be completely honest. So far, I have not made that much money yet. And that is the reason that most people tend to shy away from it.

Network marketing is very powerful. It basically goes something like this. You only do business with people in your network. This includes everyone that you know. With email and online networking groups such as Facebook and MySpace, you have constant contact with most of your network.

The way that it is supposed to work is you take someone that you know trying to sell you something that you need, and not just trying to rip you off. Friends do not recommended stuff like this unless it really worked. Primerica is successful because it really does provide a useful service to people.

I just have to add my personal view of the issues of financial security. CitiGroup is a massive capitalist bank. The biggest bank in the world. Now the reason that they pay commission to people for selling their products is because they make money too.

This is very important: Money can make money for you. However, if you are in debt with the credit card company, then they are making money off of you. It should be the other way around. How would you like it if you could loan them money and get paid for it? That is called investments.

Primerica is a company that has found a way to make money by helping teach families how to make and save money. This is a win-win-win situation, most of the time, if you qualify.

Example: You are a client, the Coon Family (30 year old, husband and wife, 2 kids and two full time incomes, $80,000/yr) that has just closed business with Primerica.

You heard about us from your neighbor who has just finished doing some business with us, she highly recommend that you check it out.

I am the Primerica representative. Because I have been highly recommend my your friend, I stop by for a meeting at your house on a Saturday afternoon.

Your background: You are currently renting a 3 bedroom apartment, $1,000 a month, and with $2,000 in credit card debt. You are interested in owning your own home and investing for retirement and children's graduation. However, you have been having a hard time keeping up with the bills every month.

Myself and Primerica wants to do business with you. Because all 3 of us win.


You win.

It is hard to measure exactly how you much win in numbers because there is a certain amount of chance in the world.

You have a written plan that has started getting you out of debt, you invested in the future of your family's security and you have found that getting the first home is easier then you thought.

I win

As the a Primerica agent, I make moderate commissions. Nothing huge, but I helped a family secure their future. Plus, it was not that hard to do because the stuff sells it self, and I leave you house feeling pretty good, and with a few further references that you have given me. And it keeps on going from there. Oh, and you are invited to join and tap into your network and make some money yourself.

They win

The reason that is works so well is because CitiGroup makes money with your money. Let me explain how this works.

Banks invest money into mutual funds which make about 12% interest. The this is the most that can be made with almost complete security so they don't lose your money.
Rule of 72: Divide 72 by the interest rate, that is how long it take money to double.
In this case it takes 6 years and all money is doubled.

So the more money they have invested, the faster it grows. Banks get money to invest in a couple of different ways. Selling of insurance is one of the top ways that banks can collect money to invest. They take your money and invest it while they cover you with protection if anything happens to you.

There are many types of insurances. People insure anything that is valuable to them. Banks make money on this by spreading out the risk among everyone. What do people insure?

People insure what is valuable them, most common things to insure.

Life, Health, Auto, Home

The first thing that we notice is that the Coon family does not have life insurance. If anything should happen to either of the household money makers, there is nothing that protects them in this fend for you self world that we live in.

We are able to get them a mortgage that not only sets them a house, but also pays off the credit card debt. Now instead of paying $3,000 a month, they are pay $1,500 a month mortgage. We encouraged them the take that extra $1,500 a month that they saved and invest it in to a retirement fund. If the Coon family invests $1,000/m for the next 20 years at 12%, they end up with $978,031.12 on a $240,000 investment. This is what compound interest can do. This is what banks do to make money with your money.

Still, an extra $900,000 won't hurt anybody at retirement. Of course, at the current rate of inflation, you will need $1 million to retire on in 30 years from now.


Conclusion

I have to say that Primerica is a good company. Good for the clients an the agents. If you are not in need of any of the services, but you know somebody that is, come check it out.

I need to tell you the reason that I respect this company so much. I have not had much success yet, even thou I have been with them since September 2006. They have given me something more useful than money, they gave me knowledge. Because when you start working there, they teach you how to run your own business.


They taught me to think for myself. They showed me, proof that I needed to see, that there are other ways to make money in this capitalist world, other than working for someone else. This led me to create my own company. One in which uses network marketing and Primerica. One that also helps families for profit. Except unlike CitiGroup, I am going to share all of the profit with the public.



The next Section is About David W Coon, the person...