Page 3 - MidWeek - May 3, 2023

PAULETTE ITO
SVP Marketing
Hawaiian Financial Federal Credit Union
Retiring From
Work, Not Life Paulette Ito
situations and high medical expenses are other reasons people either don’t leave or end up returning to the workforce after retirement. Situations in life will change over time, requiring pivots to any plan. Therefore, creating and refining a solid retirement plan is vitally important — especially a plan that can withstand abrupt changes.
When financial advisers or articles address retirement planning, they’re usually trying to ensure financial stability during your golden years based on what you want to do. But what most do not prepare you for is the psychological aspects of retirement life. We may retire from work, but we do not retire from life. We all still need a sense of purpose.
Some retired professionals find purpose by continuing to contribute to society. They become consultants,
teachers or mentors before transitioning to full retirement. And, a purposeful retirement life filled with meaning leads to better senior health. In 2021, the Journal of Applied Gerontology studied 12,825 adults over age 51 and associated a strong purpose in life with healthier lifestyles and slower rates of chronic illness progression.
Maybe your retirement vision is creating the manicured garden you always dreamed of, or finally being able to teach yoga at the beach during sunrise. Whatever it might be, it is absolutely not working 60-hour weeks with endless emails and calls. Developing and pursuing new goals regardless of your stage in life is crucial to your mental, emotional and physical health.
The “Get Your House in Order” campaign assists your retirement planning process by posing important
questions to ensure you have everything you need. Is your 401K or pension information documented? Is all your beneficiary information up to date? Do you have other retirement plan products, and are they all current? Are your Social Security checks paid through direct mail or direct deposit, and does that need to change?
Ho‘okele is a free “Get Your House in Order” planning guide. The Ho‘okele guidebook is a roadmap for gathering and organizing all your most important retirement-related documents in one place. The guide is only available from Hawaiian Financial Federal Credit Union’s website and everyone can download their personal copy from HIFICU.com/gyho today!
What are you hoping to do in your retirement and how are you planning to finance it? Can you afford to retire? Only
May 3, 2023 MIDWEEK 3 you can answer these age-old
questions. Visit our website at HIFICU.com/gyho to find trusted partners who can help you navigate this complicated arena — because we want to make sure your golden years are truly golden!
“Be Well, be safe and be prepared” are founding tenets of the “Get Your House in Order” campaign. We believe that if you are well, safe and prepared, you are able to thrive. So, start living your best life by downloading and completing your Ho‘okele guidebook today!
For more information about the “Get Your House in Order” campaign, email GYHO@ hificu.com. Also, check your local listings or go to YouTube (@HawaiiGetYourHouseInOrder) to watch Yunji de Nies talk with local experts on how and why to get your house in order.
Retirement is a milestone many people look forward to. As folks get closer to that age, you generally find two types of people: those who are counting the days and those who can’t imagine themselves outside of the workforce. The day counters are prepared and ready for retirement life. They’ve done their due diligence planning and are ready for their next adventure. The latter can’t imagine not receiving a paycheck, have no idea what they would do without work and have not planned for a life of retirement.
Deciding when to retire is a personal question only you can answer because you are the only one who will know when the time is right. I’ve had some friends who pulled a Brett Favre when they retired — they simply changed their minds and jumped back into the workforce. They were not
ready for retirement life. They felt their skills could still be utilized.
This happens for several reasons, the biggest being self-identity. Most will have worked more than 40 years before retirement. As careers progress, workplace responsibilities usually increase as well, and a greater number of people may have come to rely on you and require your guidance. When retirement comes, work- related phone calls and emails stop, demand for your time stops, and your pool of friends and acquaintances shrinks. Successfully dealing with that huge transition requires planning and preparation, but most never do. They expect a transition, but until they experience it, it’s tough to imagine and prepare for.
A potential for reduced income, changes in family
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