Most of us just cross our fingers and hope that we’ll be okay for retirement when the day comes.

In most cases, we won’t be.

Here’s a survey by Insights West and Credential Financial that finds the majority of Canadians are not prepared for retirement. We’re guessing that Americans will be much the same. Although, the thought of moving into one of the retirement communities documented at the totv web page will be a huge incentive to start saving.

  • 68% don’t have a retirement plan
  • 30% haven’t saved a cent
  • 62% ended up retiring earlier than expected

Once you’ve built rapport with your prospect and have discovered a financial problem they’d like to solve, you can break the ice by asking them a few simple questions.

Rather than using jargon like “Do you have a plan B?”, here’s a simple questionnaire from Tom ‘Big Al’ Schreiter that puts it all into perspective.


1. When would you like to retire?
___ In one year
___ In two years
___ In five years
___ In ten years

Great! What’s your plan to achieve this goal?

2. How much money do you need monthly to retire comfortably?
___ $1,000
___ $2,000
___ $3,000
___ $5,000 or more

Great! What’s your plan to receive this monthly income?

3. How much money do you need to invest at a 6% return to
receive your desired monthly income? Will you need to look at getting a reverse mortgage?
(Take your answer from question #2 and multiply by 200.)

________ x 200 = $ ________________

Great! What’s your plan to accumulate this money?

Most people will never have crunched their numbers this way, so get out the ballpoint and napkin and help them toward a surprise.

When it comes down to it, simple retirement planning is all about budgeting and securing your financial future.

For example, let’s say your prospect now has an income of $60,000 per year and would like to carry that on during retirement.

In step 3 above, $5000 per month x 200 = $1,000,000!

“Wait a minute! That’s a million dollars! That can’t be right!”

Yes, it is …

If you invest $200 at 6% per annum, you will earn 6% of $200 = $12 per annum or $1 per month.

That means that every $200 in the bank will bring you $1 per month in interest.

If you need $5000 per month, you must multiply 5000 by 200 to get $1 million!

If you have a pension that will equal half of your present salary, you’ll need $2500 per month, i.e half a million dollars in the bank the day you leave the job. Most of us don’t even have $500 saved for an emergency, let alone a complex stock portfolio providing dividend returns informed by subscriptions models such as Stocktrades!

Most people have no way to save that kind of money, especially in the short time between starting to think about it and actually retiring. Other than winning the lottery or the big one at Bingo or inheriting thousands from an unknown rich aunt or having that Nigerian prince’s widow deposit a few million into your bank account or getting a paper route or a second job if anyone will hire you at your age, what alternative do you have?

Once the shock is over and the reality begins to settle in, your prospect might say something like, “Wow, I had no idea! I’m in trouble here … ”

Then you can say (one of our favorite Big Al questions) something like, “Would you like to do something about it?”

If they say, “Yes, but what?” or “Tell me more”, you have an open-minded prospect. And you now have permission to give them your One Minute Presentation!

You can even turn these questions into a flyer you can leave with a prospect to think about. Make sure to include your contact info so they can get in touch with you.

Here’s ours. Right after step 3, we have …

If you need help with a plan, please contact
Bob and Anna Bassett

Please let us know what you think in the comments section below, and share any prospecting ideas that work for you!

For more great recruiting ideas like this, please visit

Bob and Anna Bassett
Skype bobbassett
Tom ‘Big Al’ Schreiter’s 25 MLM Skills
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