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Considering a career change...

Posted on 3/1/24 at 4:31 pm
Posted by geauxdroddz
Member since Nov 2016
2042 posts
Posted on 3/1/24 at 4:31 pm
I have been in the investment industry in one form or another for my entire career - mutual funds, banks, fintech currently and can't imagine doing this for the rest of my life. I make a great living and WFH, but no interest anymore and bored as hell ... I am not complaining because I know am fortunate. I feel like in the second half of my career I need a challenge, do not want a ceiling with salary, and love the idea of building something while helping people.

All that said, I have been investigating insurance sales - primarily life and health. Reasons being is I like the idea of being an independent broker, being able to help people, and earning potential. Early on I had numerous offers to be in investment sales, but one of my early lessons in this industry is very few people need securities sold to them with the emergence of ETFs - the whole setup never felt great to me. Had all my licenses, but decided to work on trading desks and saw how the sausage was really made. Obviously, insurance gets a bad rap, but I would argue needs for those products any day over stock or MF sales.

I know there will be a financial investment and will have to grind, but that is what I want now my children are older. I have the potential to keep my fintech job (WFH and flexible hours) and do this on the side to start - hours would stack up obviously. My personality has always put people at ease and can usually connect to anyone I try with - my background should increase and help add credibility.

Anyone with experience have any advice
Posted by genuineLSUtiger
Nashville
Member since Sep 2005
72907 posts
Posted on 3/1/24 at 4:31 pm to
Go to dental school.
Posted by lnomm34
Louisiana
Member since Oct 2009
12607 posts
Posted on 3/1/24 at 4:33 pm to
quote:

I have been investigating insurance sales - primarily life and health. Reasons being is I like the idea of. . . being able to help people


Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
119005 posts
Posted on 3/1/24 at 4:33 pm to
Fix the shake machine
Posted by Ghost of Colby
Alberta, overlooking B.C.
Member since Jan 2009
11155 posts
Posted on 3/1/24 at 4:34 pm to
quote:

I need a challenge

quote:

do not want a ceiling with salary

quote:

love the idea of building something while helping people.

Welding school should be in your future plans.
Posted by el Gaucho
He/They
Member since Dec 2010
52929 posts
Posted on 3/1/24 at 4:34 pm to
quote:

WFH,

You call this a career?


Why don’t you try working for a living instead of drinking hot chocolate and talking about healthcare
Posted by Froman
Baton Rouge
Member since Jun 2007
36208 posts
Posted on 3/1/24 at 4:34 pm to
I don’t have any advice because I’ve wanted to change careers for years but haven’t due to the money. Oddly enough, I’m very interested in doing what you know longer want to do.
Posted by geauxdroddz
Member since Nov 2016
2042 posts
Posted on 3/1/24 at 4:36 pm to
quote:

I have been investigating insurance sales - primarily life and health. Reasons being is I like the idea of. . . being able to help people





I get it, but its all relative...

BIL at the age of 42 dropped dead beginning of Feb, his 4 girls under the age of 18 wish he had some insurance.
Posted by SPT
Member since Jun 2014
881 posts
Posted on 3/1/24 at 4:36 pm to
There’s always ditch digging or trash collection
Posted by Trevaylin
south texas
Member since Feb 2019
5803 posts
Posted on 3/1/24 at 4:37 pm to
once you run out of friends and relatives to sell to , the monthly take is much tougher. Unless you set up the perfect pyramid.
Posted by geauxdroddz
Member since Nov 2016
2042 posts
Posted on 3/1/24 at 4:39 pm to
quote:

once you run out of friends and relatives to sell to , the monthly take is much tougher. Unless you set up the perfect pyramid


Id start with buying leads, likely the best I can find.
Posted by GetBackToWork
Member since Dec 2007
6252 posts
Posted on 3/1/24 at 4:42 pm to
Apparently there is great need for Air B&B conflict resolution brokers in Europe. If you can carry 6 pieces of luggage you're golden.
Posted by TC Kidd
Member since Nov 2023
776 posts
Posted on 3/1/24 at 5:00 pm to
quote:

There’s always ditch digging

Ditch digging made my pawpaw and dad millionaires, and my brother and I are doing pretty damn good ourselves.
Posted by Mr. Curious
Chocolate City
Member since Aug 2004
642 posts
Posted on 3/1/24 at 5:08 pm to
Can you code??
Posted by tylerlsu2008
London
Member since Jul 2015
1085 posts
Posted on 3/1/24 at 5:08 pm to
quote:

I have been in the investment industry in one form or another for my entire career - mutual funds, banks, fintech currently and can't imagine doing this for the rest of my life. I make a great living and WFH, but no interest anymore and bored as hell ...


Totally get it. Somewhat same.

quote:

I have been investigating insurance sales - primarily life and health.


Huh, bruh?
Posted by geauxdroddz
Member since Nov 2016
2042 posts
Posted on 3/1/24 at 5:11 pm to
quote:

Can you code??




Some, but thats more boring in my opinion.
Posted by hubertcumberdale
Member since Nov 2009
6504 posts
Posted on 3/1/24 at 5:25 pm to
you want to help people so your solution is to get into insurance?
Posted by geauxdroddz
Member since Nov 2016
2042 posts
Posted on 3/1/24 at 5:28 pm to
quote:

you want to help people so your solution is to get into insurance?


Yep, that is listed as a reason and noted an example in this thread.

Any other questions?
Posted by 225Tyga
Member since Oct 2013
15779 posts
Posted on 3/1/24 at 5:30 pm to
quote:

I make a great living


How much a year? I’ll determine if it’s a great living or not.
Posted by geauxdroddz
Member since Nov 2016
2042 posts
Posted on 3/1/24 at 5:37 pm to
150
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