Meet Dr. Randy and Sue Norris from Battleground, Washington!
Several years ago, while attending a chiropractic seminar, Dr. Randy heard Tom McFie speak about the Perpetual Wealth Code and how life insurance can be used as a wealth management tool. It made such good sense that Dr. Randy and Tom connected with each other after the seminar to talk further.
Dr. Randy already had life insurance policies from the early nineties (he wanted to make sure his family was provided for if the worst were to happen). In fact, Tom remembers congratulating Randy because he was one of the best insured men that he’d ever met. However, Dr. Randy says, “I was in the frame of mind where I thought the sooner I could quit paying and let them ‘self-fund’, the better.”
But while talking with Tom, Dr. Randy’s whole concept of life insurance, and how he had been using it, changed and he thought, “I’ve got somewhat of a gold mine sitting here! This could be great for me and my family immediately, (and) this could be a great retirement program.” And they asked Tom to review their existing policies to make sure they were the kind of insurance policies that would provide them the greatest benefit. Some of the policies fit their purpose, and the ones that didn’t were replaced.
Over the years the Norris’ have used the cash values from their policies to do many things: help their oldest son start a dance studio, purchase office equipment, fund office expansion and make other investments, including real estate, which have benefited them greatly.
Paying themselves back, their policies will have more cash value for them to borrow when needed. “It gives me a nice opportunity to have some money sitting there where I can help the kids get a good start on life,” Dr. Randy explains.
Purchasing policies from insurance companies that have paid dividends over a hundred years has given the Norris’ a very secure feeling. “I know my money is going to be there.” Dr. Randy says, “It’s a lot more secure than just going the route of the stock market and…other things.”
He continues, “I really want to get a return OF my money, rather than just a return ON my money. But I’m getting both from this, which is nice. I have a much more secure plan, and I’m really happy that when I do pass, I’m leaving my family something.” And speaking of the possibility that some sort of unexpected financial situation could arise in the future, “We’ve got backing…it’s already there for us.”
When explaining the Perpetual Wealth Code to others, the Norris’ state, “This isn’t a life insurance plan; this is a way to generate income and benefits down the road. The life insurance is a kicker on the whole thing.” Speaking of Tom, Dr. Randy says, “I’m very trusting of his desire to help people and the direction that he has led me…it’s worked out very well.”
Although Dr. Randy isn’t in retirement mode yet, it’s not far away, “As I slowly cut back in my office, I can supplement my retirement income with the cash value from my policies which will be wonderful.” As a business owner Dr. Randy likes to think of his life insurance as a retirement plan which will give his family additional benefits down the road.
In April, Dr. Randy and Sue’s youngest son, Zane, and his wife, Erica, had a baby boy, the Norris’ first grandchild! “We’re going to buy a policy for our grandson,” Sue says and Dr. Randy adds, “And all the grandkids from here on out.”
The Norris’ love spending time as a family. This includes traveling…especially to Puerto Vallarta, which they call their second home, and ski vacations. They are also big exercise buffs. Their two sons, Slade and Zane, have always liked playing ball. Now in adulthood they enjoy playing softball and city league football. As always, Dr. Randy and Sue enjoy watching and cheering them on from the sidelines!
Sources: Dr. Randy and Sue Norris and the Living Richly Newsletter, 2018