On Today’s Power Hour

Discover how Mark B. generates an average of $6,403.84 in revenue for every weekly webinar he has run over the past 4 years!

📺️ Click to join and watch at 12pm EST / 9am PST!

⚽️ Rock, Paper, Scissors…Score!

Before tricking the goalkeeper, American striker Haji Wright first outwitted his teammate.

Prior to taking a penalty kick, he took part in an impromptu on-field game of rock, paper, scissors with teammate Callum O’Hare.

He won the hand-duel…and then netted the kick.

Asked what he went with, the 25-year-old smiled and said, “Rock…but I had a little delay on my throw.”

We like your style, Haji 🤜 

- Team Advisorist

In Today’s Issue 👇️ 

• What advisors need to know about a ‘silver tsunami’

• A motivation hack for getting more done

• A mother wakes up after 5 years in a coma

☁️ Forecast: The Silver Tsunami is in Full Force

Want to hear a shocking stat?

The U.S. just recorded 2.7 million more retirees in December than were originally predicted by economists at the St. Louis Federal Reserve.

We said 2.7 million MORE than anticipated.

That’s obviously a huge number…and it isn’t going to slow down anytime soon.

A record 4.1 million Americans will celebrate their 65th birthday in 2024 – which is the largest Boomer ripple wave we’ve seen yet.

Many are dubbing this the “Silver Tsunami” and advisors have to be prepared, because it could last a while.

Unlike 40 years ago, when just 11% of people 65+ were still working, today, that figure is 19%.

That means we’re riding a slow wave up to the top of the tsunami, which will likely peak around 2026.

📕 The Silver Tsunami Playbook for Advisors

Having a game plan for how to tackle the next 3-5 years could define the health of your business and your income potential.

Here are a few areas to focus on:

• Retirement Readiness Reviews: With the uptick in retirements, it's prime time to offer retirement readiness assessments. Dive into clients' portfolios, ensuring their 401(k) and other retirement savings are aligned with their long-term goals and lifestyle expectations.

• Holistic Financial Planning: The 'working retiree' is becoming a more common phenomenon, with 19% of Americans aged 65+ still in the workforce. Offer services that blend retirement planning with income strategies for those not quite ready to leave the workforce.

• Estate/Legacy Planning: As clients transition to retirement, it's an opportune moment to discuss estate planning. Ensure their wealth distribution wishes are clearly documented, offering peace of mind and clarity for their families.

• Longevity Planning: With longer lifespans, planning for healthcare costs and potential long-term care needs becomes crucial. Help your clients navigate Medicare, supplemental insurance, and potential long-term care insurance.

Headline Roundup

🏠 Affecting Your Clients

• 401(k) Millionaire Ranks Grew 11.5% in 2023 [CNBC]

• CS: Home Prices Hit a New All-Time High in December [MW]

• Study: Teens More Anxious About Money Than Adults [FP]

📈 Markets & Economy 

• U.S. Treasury Yields Inch Higher Ahead of Report [CNBC]

• Bitcoin Tops $57K as Rally Gains Steam [CD]

• Opinion: Stock Market is Overvalued [MW]

💼 Industry Roundup 

• Minnesota Advisor Charged In Alleged $1.6M Wire Fraud [IN]

• LPL Lands $1B Pennsylvania Team From ML [IN]

• What Clients Are Reading: AI and Financial Advisors [MM]

🧪 Research-Backed Motivation Hack for Doing Hard Things

Want to motivate yourself to work harder or do necessary tasks that you don’t particularly enjoy?

Then you need to check out this study.

A group of researchers wanted to see if the correct motivation could encourage college students to show up to the gym more often.

So they gathered 226 students and split them into three groups:

• Group one got “page-turning” audiobooks loaded onto a loaned device and were only allowed to listen to in the gym.

• Group two got the free audiobooks loaded to their own personal devices and were told they could listen to them in the gym (or anywhere).

• Group three was the control group. They got a gift certificate and were told to go to the gym more often.

Can you guess which group visited the gym more frequently?

Yep…it was group one.

By physically restricting access to something that was tempting, the students enjoyed 22% higher productivity.

🧠 How to Apply the Findings

Find something you love (like listening to new music or going to your favorite coffee shop)

Tie the reward with an action you don’t particularly enjoy…like calling up a frustrated client who left a voicemail.

Only allow yourself to enjoy the reward when doing/completing the action.

🗓️ Upcoming Industry Event Calendar

Feb 28 - Mar 1: LLIS Insurance Academy 2024

Mar 5: RIA Masterclass

Mar 12 -14: 9th Annual FA Magazine Invest In Women Conference

🧮 By The Numbers

31%

That’s the average retirement income literacy grade on a recent test published by The American College of Financial Services.

✌️Good Vibes

After 5 years in a coma following a car accident, Jennifer Flewellen miraculously woke up and stunned doctors.

Her family, including her mother, Peggy Means, who spent the past few years caring for her adult daughter despite being told multiple times by doctors that she would never wake up, was overjoyed.

It happened last August, during a walk around the neighborhood.

Out of nowhere, Jennifer laughed at a joke of Peggy’s, which left her mom stunned.

Since that moment, she’s made incredible progress – including being able to say words with the help of a speech therapist.

And last fall, she was finally able to attend her son’s final high school football game.

"We have a lot of work to do still, so we stay busy," Peggy says.

"I want her to walk. I want everything, as much as possible, and we don't know what's possible, so we just have to keep doing it."

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.