Let me tell you a true story. Over the more than five decades that I have been in this business, my clients have told me there are six or seven areas that are the most important to them. I decided to make an acronym from these six or seven areas. The acronym is “FFREEDM.”

I take a yellow pad and write “FFREEDM” across the top. I then write each of the seven letters down the side of the paper, placing a horizontal line in front of each letter.

The first “F” stands for the phrase “financial planning,” which is what my business is all about. I help people plan for their financial future.

The second “F” is “family income.” How much does your family need each month to live in their own world? If you didn’t come home tonight, how much would that change? Would they still need the same, or about the same, amount of income? Without you here, where would it come from?

The “R” is for “retirement.” Do you plan to retire some day? At what age?

Have you thought about how much in today’s dollars you would need in retirement? Do you know you may live 20 or 30 or more years after you retire? Is your retirement plan sufficient to provide that income?

“Es” are for “estate planning” or “education for kids or grandkids” or an “emergency fund.”

Estate planning isn’t just tax planning. It’s planning for the necessities of life.

Education is important, isn’t it? Have you thought about how much it will cost to send a child to college for four years?

Emergencies are the repair or replacement of a major appliance or a car or a medical emergency not covered by insurance.

“D” is for “disability.” If you were to become sick or hurt and unable to work, how much net income will it take to enable you to live in your own world?

I then take a business card from my pocket, turn it face down and slide it across the desk or table where we are sitting. I say, “I want you to write three names on this card, the names of people who would pay you an income, possibly for the rest of your life, equal to what you earn today.”

I then sit back and wait for their answer. They eventually say, “There is no one.”

I then say, “Now turn the card over. That’s who will pay you an income, possibly for the rest of your life, equal to what you earn today.”

“M” is for “mortgage.” Do you want your mortgage to be paid off or at least have enough income to meet the debt service on your home? And if you don’t have a mortgage, at least enough to cover the rent you pay on this home?

Then I say, “Now, I want you to take my pen and number them in order, 1 through 7 — 1 being the most important, and 7 the least — that we address as we work together going forward. We probably won’t be able to do all seven, but I promise you that if you allow me to work with you, we will eventually address them all.”

I have found that if he or she takes my pen and begins to number them, I am well on the way toward getting a new, dedicated client.

Gene L. Mahn, CLU, ChFC, is a 50-year MDRT member who served as MDRT President in 1998.