Corey Baker discusses maximizing retirement income with insurance strategies
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-corey-baker-retirement-specialist-with-kkb-financial-services-discussing-using-insurance-for-retirement/
Corey Baker emphasizes the crucial distinction between viewing money as a plan for living or dying when discussing retirement planning. In the podcast episode, Corey highlights the common fear among individuals of spending their hard-earned money during retirement. Many people are hesitant to utilize their savings because they want to ensure they have something to leave behind for their loved ones. This fear often stems from a desire to leave a financial legacy and provide for family members even after passing away.
Corey’s approach challenges individuals to consider whether their money is designated for living expenses during retirement or as a financial safety net for their loved ones in the event of their death. By posing the question: “Is this money a plan for living or dying?” Corey encourages people to confront their fears and uncertainties surrounding financial planning for retirement. This introspection prompts individuals to evaluate their priorities and goals for their money, whether it be to sustain their lifestyle during retirement or to secure their family’s future after they are gone.
By addressing this fundamental question, Corey guides individuals toward a more comprehensive understanding of their financial objectives and responsibilities. This critical distinction helps individuals align their financial decisions with their values and priorities, whether it involves ensuring their own financial security in retirement or safeguarding their family’s well-being in the future. Corey’s emphasis on this distinction underscores the importance of thoughtful and intentional financial planning to achieve both personal financial goals and legacy planning objectives.
Corey shared: “I understand why people don’t like to have these conversations because they’re uncomfortable. Because we don’t like to imagine a world that doesn’t include us. That doesn’t mean that you’re selfish, it means you’re a human being.”
Corey Baker provides a clear distinction between life insurance and annuities, emphasizing their unique roles in financial planning. Life insurance is designed as a protection in case of death, ensuring that loved ones are financially secure in the event of an unexpected passing. There are various types of life insurance policies, including term policies that offer coverage up to a certain age, whole-life policies that accumulate cash value over time, and universal life policies that combine insurance coverage with a cash-building component.
Overall, Corey’s emphasis on education and understanding in the realm of insurance and annuities serves as a valuable reminder for individuals to proactively seek knowledge and expertise in managing their retirement finances. His willingness to engage in conversations and offer personalized solutions underscores the importance of seeking professional guidance to make informed decisions about financial planning for retirement.
Corey said “My mission is to help you win with your retirement dollars plain and simple. Life is too short and you worked too hard to have your retirement dollars at risk. I help people identify problems with their financial plan for the future and offer solutions solve them.”
Video Link: https://www.youtube.com/embed/A83rjc-f_vc
About Corey Baker
Corey is originally from the Chicago area and is a lifelong Cubs and Bears fan. He and his wife Julie have 2 daughters and an incredibly spoiled poodle. As a former minister of one of the fastest-growing churches in Florida, Corey has extensive experience connecting with people and assisting them to become the best versions of themselves in every area. In 2017, Corey and his family relocated to Lexington, Kentucky where he now has dedicated himself to helping families and individuals all across the Midwest thrive with their retirement, and with their money.
Corey is also a best-selling author, accomplished motivational speaker, and personal health and wellness coach. His life’s passion is working with people and he is tenacious in his dedication to helping others win. In his spare time, Corey loves to travel all across the US pursuing his other life passion, which is bowling.
Learn More: http://www.kkandb.com/
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