Your Clients Need 3 Types of Income: Aaron Seurkamp
June 22, 2022 by Allison Bell
Aaron Seurkamp wants you to help your clients with not just one type of income planning, but with three types of income planning.
Seurkamp is a senior vice president at Protective Life and president of the company’s retirement division.
Wink’s Note: There are a couple of things that Aaron Seurkamp said in this interview, that really resounded with me.
First, he said that of Protective Life “Our focus will always be on protecting people.”
Not every insurance company feels that way. However, I feel that we are here to protect people, first and foremost. (Do you feel the same?)
Next, he said that “There are three types of income to consider:
1. Essential income: Enough available income to essentially keep the lights on and groceries on the table.
2. Lifestyle income: Activities you enjoy doing that you’ll need to make room for in retirement.
3. Legacy income: If all things go according to plan, what will you leave the next generation?”
That is a great way of summarizing the different types of income that people need to address in retirement. I like it! -sjm