Brandon Bowsky
speaker
77 appearances
1 recordings
1 series
first heard May 2025
last heard May 2025
Brandon Bowsky’s voice in public audio — every appearance, attributed to the second.
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Appearances
And it's easy to make money, too. Don't get me wrong. If you have a good plan, it's easy to make money once you know how to make money. But when you're learning how to make money and you might have just lucked into some and you start blowing it, recipe for disaster.
Yep.
Man, well, it teaches you how to prepare for rejection very well and how to get accustomed to it because a lot of the time when you sell insurance, you're either knocking on doors, meeting people face to face, or you're making phone calls. So it's like the Not a lot of people sell digitally and it's just not scalable.
People don't want insurance until you explain to them why they need it typically, or they know that they need it and they come to you to get it. And it's a matter of, are you cheaper? Are you more personable? Why should they buy from you, et cetera? I think it's a really good opportunity because one, it makes a lot of money. Insurance is a great business. Like it makes money.
It's been around for a long time. It's a proven model and it's all based on actuarial data. So you have a plan and you have loss ratios and you know exactly what it costs for you to fulfill that plan. So maybe it's, you know, 50 cents on the dollar, maybe it's 80 cents on the dollar plus plus.
And you know that that margin there exists for either the company to make money, the agent to get paid or whatever the situation might be. And there could be upsells, cross sells, all those things. That's for the carriers to worry about. For a salesperson though, it's a tremendous way to make a lot of money.
Because let's say you're doing life insurance, you sold one person a policy a day, and you took a standard advance, and let's say you service the customers and they pay off, you could make $1,000 a day. A day? A day. Just selling one person, one family, a life insurance policy.
And I'm not even a life insurance guy. I'm a health insurance guy. You could do the same thing in Medicare where the LTVs are around $1,200, and you could sell a person, have $300 in client acquisition cost, and you're the one selling, you're the one servicing. You could also make $1,000 a day there.
But instead of advancing it, it's realized over time in small little chunks of $30 bonuses here, there, et cetera. In health, though, the reason why I liked health and why I told people to get into health, now it's very seasonal because the American Rescue Plan Act, Inflation Reduction Act stuff that made it all year round is coming to a close at the end of this year.
But even as a seasonal business, you can work for three months and make enough money to live for the entire year and try all the things you want to try. Because let's say you can enroll 10 people a day, which is not a hard thing to do, by the way. The average guy can do that, any average Joe. You enroll 10 people a day, and it's not sales. Everybody needs health insurance.
10 people a day, the average one of those plans will be worth somewhere around $350, $400, depending on your commission levels, contracts. Let's even round down to $300. you got three grand a day coming in. Your cost was a hundred bucks per. So you've got $2,000 a day in profit as an independent guy just sitting in his bedroom selling health insurance.
And a health insurance license, a couple hundred bucks to get. So you go do that, you spend two weeks studying, you take the test, you're out the door. You start your own agency so you have a business for write-offs. And again, 40 grand in a month. You do that for three months, you have 120 grand. Most people, their households make a hundred grand a year now. Dual income households.
So if you've got that 120 grand and it's all residual income and you're answering the phone, answer some questions for your clients and be a good guy, whatever, you've got the rest of the year to play around and figure out what you want to do next or pick up a new hustle or something else.
And that's why I like the don't quit your day job, but also do something that creates recurring income because the recurring revenue model, it's great if it's profitable and insurance is a highly profitable way to do it. So I like that as a vehicle to get started because I've seen it work for so many people and I've taught so many people how to become millionaires doing it.
That's a terrible question to ask me. I try to invest in as little things as possible other than myself. I try to stay pretty liquid or I buy assets that I enjoy because I think happiness ROI is really important. Like being able to get happiness on the money that you spend.
So for me, it might be having a few nice cars or a really nice house or maybe five houses in different places and being able to travel. Those things make me happy and are good investments for me because the happier I am, the better I perform and not everybody's like that. And obviously not everybody has the same money to play with.
I think when you're making your first bit of money, I personally believe high yield savings if you are somebody who can repurpose that money. So a lot of people don't think about how to repurpose money. They just think I have money in a bank and it's going up and that's good. Not necessarily because the value of the dollar has been going down lately.
So you can put it into like an S&P and try to battle inflation or an index fund or something like that, which is fine. You can put it in a high yield savings. Again, try to battle part of inflation. That's fine. But I think people should always be looking for what the next thing is and just be open to different ideas.
Like you've talked about franchises to me where I've been like, hmm, it's actually not a terrible idea. That could be a good idea. And for some people, it would be. And for other people, real estate's a good idea. Some people are naturally more risk tolerant and trading might be good for them. I personally will not trade at all.
My buddy convinced me to put 300 grand into a crypto project last year. It wasn't like a meme coin. It was like a real project. I mean, it was WorldCoin backed by OpenAI. Took a freaking bath on it. I threw another 100 grand in. Still, I'm taking a bath. And I think it's less than half of what I put into it. I mean, it's a terrible, terrible situation.
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