We welcome back Karl Sadanaga, wealth advisor for INPAC Wealth Solutions to discuss the importance of properly preparing for retirement.

Intro 0:00
Caroline's Story - 3:18

Preparing for Retirement - 4:57
• Retirement is a financial and emotional decision.
• Not preparing leaves one vulnerable to emotional and financial difficulties.
• Knowing when you want to retire is the first step.
• What do you envision as a successful and fulfilling retirement?

Financial Instruments - 10:27
• Company pension plans, IRAs, and 401ks are most common.
• Most times the employee determines the investment.
• Pretax contributions allow investments to grow tax deferred.
• Consistently contributing is the most important factor.

Start Early - 13:03
• Starting early gives your investments time to compound.
• Investing consistently and properly will grow your retirement savings.
• Working with a financial professional helps manage market volatility.
• Check your investment accounts at least once a year.

Social Security - 16:05
• Claiming social security at age of 62 can reduce benefits by up to 25%.
• Waiting until full retirement age allows you to claim 100% of your benefits.
• Full retirement age allows you to continue working without penalties.
• The retirement age that maximizes social security benefits is 70.

Transitioning - 19:16
• Retirement planning should address emotional concerns.
• Daily work provides structure, identity and a sense of community.
• Planning what you will do during retirement is very important.
• Remaining physically active and mentally engaged is crucial.

The “Get Your House in Order” campaign is designed to engage, motivate and educate Hawaii’s ohana to do exactly what it says … help you get your house in order.

To download the Ho'okele Guidebook:
http://hawaiigetyourhouseinorder.com#GetYourHouseInOrder #HIFICU #HookeleGuide #lifeplanning #financialplan #lifeinsurance #estateplanning

FOLLOW US:
IG & FB @hawaiigetyourhouseinorder
http://hawaiigetyourhouseinorder.com