I couldn't get hired as a stockbroker when I first moved to San Diego in 1979.
I needed sales experience. Brokerage firms were reluctant to hire me, I didn't come from money.
I took a sales path with the Northwestern Mutual Life Insurance Company.
I had no family with money. No friends in San Diego to sell to. Just a rotary phone and the phone book.
It was a tough sell in the early 80's. Selling "death" insurance to the living on a sunny day in San Diego!
Prime rates were in the 15-20% range. Most regular savings accounts paid double-digit returns.
Mortgage rates fluctuated from around 12–13% early in 1980 to near 16–17% then settled in the 12–15% range. In 1981, they climbed higher, with weekly averages reaching as high as 18.45%–18.63% in October (the all-time peak for 30-year fixed rates).
Selling a whole life policy was a tough sell.
Best sales experience I had in my life.
Only toughened my resolve to move up.
I wasn't going back and I wasn't going down.
One way.
Dream big.
As General Powell said, "Optimism is a force multiplier".
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