Retirement isn’t as simple as reaching age 65 and quitting your job.
It takes planning and the earlier you start the better.
You need to think about when to take Social Security, how to pay for health insurance, and how much you can spend on living expenses and just enjoying life. That’s why AARP Hawaii is holding free “Think of Your Future” workshop in Kaneohe and East Oahu.
The Kaneohe workshop will be held on Saturday, Sept. 30 at the Hoomaluhia Botanical Garden, 45-680 Luluku Road, from 1 p.m. to 4 p.m. The East Oahu workshop will be held the following week on Saturday, Oct. 7 at the Aina Haina Public Library, 5246 Kalanianaole Highway, from 9 a.m. to noon.
Call toll free 1-877-926-8300 to register or go online to bit.ly/aarpHIevents.
No individual advice will be given and no products or services promoted or sold. The workshop is just about helping you plan for retirement and you don’t have to be an AARP member to attend.
The following sessions are included in the workshops:
- 10 Steps to Get Ready for Retirement – Many pre-retirees overlook the rising cost of medical care. According to estimates, the savings needed to cover most health care expenses in retirement, including premiums, is $116,000 for men and $131,000 for women.
- Understanding Your Social Security Retiree Benefits – Begin claiming your benefits at age 62 and your monthly check will be 76 percent less than if you wait until age 70. Conversely, some people need the money or fear they won’t live long enough to collect what they paid into the system.
- Medicare 101 – You generally have a seven-month window to sign up, starting three months prior to turning 65. Not doing so could trigger late penalties and delay coverage – unless you’re covered beyond 65 by insurance from your or your spouse’s employer.