Todd Baldwin: “Embrace social media marketing and networking”

Embrace social media marketing and networking. It’s not all about cold calling anymore. It’s about building relationships. As a part of our series about the “5 Things You Should Ask Before You Purchase a Life Insurance Policy” I had the pleasure of interviewing Todd Baldwin, known on CNBC as the Millennial Millionaire, is an American […]

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Embrace social media marketing and networking. It’s not all about cold calling anymore. It’s about building relationships.


As a part of our series about the “5 Things You Should Ask Before You Purchase a Life Insurance Policy” I had the pleasure of interviewing Todd Baldwin, known on CNBC as the Millennial Millionaire, is an American entrepreneur, investor, and real estate enthusiast. He lives in Seattle, Washington with his wife Angela where the two of them have amassed a House Hacking and Airbnb Empire. He is using the knowledge he has learned in these endeavors on his YouTube channel to help others build wealth and gain financial independence.


Thank you so much for doing this with us! Before we dig in, our readers would love to get to know you a bit. Can you tell us a story about what brought you to this specific career path?

Although today I am a full time real estate investor, I got my start working in the insurance industry. I am a licensed life and health insurance broker and I started that career while I was in college.

Can you share a story about the funniest mistake you made when you were first starting in the industry? Can you tell us what lesson or takeaway you learned from that?

I was working for a big insurance company and the headquarters was in Chicago. But I was working remotely from my home in Seattle. Well on my lunch break I wanted to go to Old Country Buffet, and I had some coupons to print out. I went to my home computer to print them out, but nothing happened. I inspected my printer and saw it wasn’t jammed, so I hit print again. Nothing. I kept hitting print and my coupons never came out of the printer. Out of pure frustration I probably keyed in “print” about 100 times and it never worked……Then my phone rang. It was the corporate office in Chicago. Apparently my computer was hooked up to the printer at headquarters. I had printed out over 100 coupons to Old Country Buffet and I completely jammed all the printers in the corporate office.

Are you working on any exciting new projects now? How do you think that will help people?

I am currently looking to build affordable housing in the Greater Seattle area.

Are you able to identify a “tipping point” in your career when you started to see success? Did you start doing anything different? Is there a takeaway or lessons that others can learn from that?

The insurance world is kind of an “old guy” business. I started when I was a teenager, so I just outworked everyone. By the time I was 22 I was making $110K per year.

What advice would you give to other people in the insurance field to thrive and avoid burnout?

Embrace social media marketing and networking. It’s not all about cold calling anymore. It’s about building relationships.

Ok, thank you for that. Let’s now shift to the main focus of our discussion. As an “insurance insider”, you know much more about insurance than most consumers. If your loved one wanted to buy a policy from another person, which 5 things would you advise them to find out about before committing to a policy? Can you give an example or story for each?

All I can really say is don’t buy whole life insurance. It is a ripoff and a complete waste of money. Whole life insurance is a terrible financial product. Don’t buy it.

Insurance agencies or companies are often known to be very creative and innovative marketers. Do you use any clever and innovative marketing strategies that you think large legacy companies should consider adopting?

I do a ton of networking and social selling. Cold calling is the old way, and the old ways aren’t as effective as they used to be.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

Early on in my insurance career there was a guy I worked with named Chad. Chad was making about $500K per year. When I was 22 I came to Chad and I was excited to tell him that I was going to make $110,000 that year. He looked me dead in the eye and asked, “Are you bragging or complaining?” $100K is trash. You can do better than that.” That tough love helped make me the man I am today.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂

I want to teach financial literacy to underprivileged youth.

How can our readers follow you on social media?

@toddjbaldwin.

Thank you so much for joining us. This was very inspirational.

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