Aging is a process that’s changing. We’re now living longer and more active lives. And as we approach our later years, many of us have strong feelings about where and how we want to spend this period of our lives.
The first steps in your estate planning journey are learning 1) how to stay in control of your stuff while you are able to be in control and 2) how to make sure your wishes are carried out when incapacity or the grim reaper catch up with you. Sorry to rub it in, but there is a 100% probability that at least one of these things is going to happen to you and a 70% probability that both of them will.
At the turn of the 20th century, the average life expectancy was only 47. Today, it is rapidly approaching 80. Our fastest growing age group is folks over the age of 85, with someone in this country turning 50 every eight seconds. More importantly, older adults are healthier than previous generations and this has created an unprecedented average lifespan.
A Greek proverb says, “A society grows great when old people plant trees under whose shade they will never sit.” This is the basis for an expanding network that is harnessing the power of the over-50 age group. The demographic landscape has changed over time, requiring a paradigm shift regarding what we think and how we feel about people over 50 — including how they work and contribute to society.
Those who do not have children tend to have more financial flexibility to pursue their goals throughout life and retirement. This makes sense when you consider that the cost of raising a child from birth to adulthood is currently estimated at $233,610 (before you factor in college). However, childless singles and couples still need to manage their future financial needs.
Is it the right fit? Will the community support your wants, needs and desires? When you or a loved one consider senior living, questions and options can become overwhelming.
our first step in exploring your future is to take an internal journey in order to make a decision to work for pay, for fun or for the good of others. Part-time and other ways of working flexibly are bountiful. Many offer unique advantages to mature workers over that old classic — the 9-to-5 job.
An interview with author Michael W. K. Yee, Financial Advisor and Ameriprise Certified Financial Planner
In my 2005 book Boom or Bust, I made the case that if you are prepared, it is never too late to do the work you are meant to do throughout the bonus years of your lengthening life. But if you’re not prepared, watch out for the storm clouds ahead.
I’m trying to figure out how much to save for my retirement. Does the government offer any help with financial education? Will my son be eligible to receive benefits on his retired father’s record while going to college?
Meaningful employment is one of the best ways to keep fit in every way as we age — socially, mentally and even physically. But some of Waikīkī Community Center’s clients had difficulty finding employment. Retirees also found that the way people look for work has changed significantly. Others felt employers didn’t want to hire them due to their age. Many wanted to change career paths entirely. Therefore, WCC started Back-to-Work Force, a free service employment program focused on adults 50 and over.
Yes, the journey of life continues even after we retire!
How long our journey on Earth will be is one of the unknowns we must live with. In my earlier article, entitled, “I’ve Never Been Old Before,” I wrote about how lost I was when I retired from my career in the federal government. It took me quite a while to find purpose and meaning during the empty days that kept coming at me. Thankfully, I realized how rewarding it is to give back in whatever way you can.
I’ve never been old before so this is a new experience for me. After retiring from a 37-year career, I found myself adrift. What should I do now? The days seemed very long as I pondered what I should fill them with. Life looks very different when you remove yourself from the “working world.” You feel as though you are invisible when you are with other people.
For most mature employed people, work was considered having a job with one or two companies in a working lifetime. Now retired, many may still have debt; few have the savings to take them through their remaining years. Countless mature workers believe that just one more job, perhaps much like the one they just left, is all they need to secure their futures. Unfortunately, those jobs may no longer exist or they may have been completely re-framed so that they are no longer a possibility for most mature workers.
Is your home too large now that the kids are gone? Maybe you have a 3-, 4-, or 5-bedroom home and you’ve realized that your kids aren’t coming back home. Maybe it’s time to downsize to a condo, townhouse or retirement community.
I’m planning to retire next year. I served in the Navy back in the 1960s and need to make sure I get credit for my military service. What do I need to do?
It’s expensive living in paradise. It’s really expensive aging in paradise. Many seniors have had to resort to relying on the “cash economy” to help them out. “Cash economy” is the term used to refer to hiring or purchasing things“ under the table” or with cash so that there is no paper trail and therefore no taxes have to be paid.
We encounter risk in all facets of our life. Why do we take risk if we have a choice? Simply put: We take on risk in exchange for some kind of return. Generally, the potential for higher returns from investments comes with greater risks.
Searching for warmer weather, moving closer to adult children and grandkids or pursuing a change in scenery are just a few reasons why many Americans choose to move in retirement. These retirees often relocate for emotional reasons, but it’s important to consider the financial impacts, too.
The Plaza at Kaneohe, The Plaza Assisted Living’s sixth location, is undergoing construction with an anticipated opening in Summer 2019. In line with its other locations, The Plaza at Kaneohe embraces the concept of familiar faces in familiar neighborhoods, believing that people want to reside in a community that they grew up in, raised their kids, or where their adult children currently live.
The most important goal for many of my clients is to retire on their terms – which often means planning a long, secure retirement that enables them to check off items on their ultimate bucket list. Retirement requires careful planning in addition to avoiding financial missteps along the way. Here are five common mistakes, and strategies to avoid them…
The biggest surprise about retirement is that I am busier now than when I had a regular job. My to-do list seems to get longer every day, even though I know I am continually completing tasks. Keeping busy with meaningful work is good advice to anyone contemplating retirement.
Portfolio workers are the “Jugglers” of multiple opportunities who know a diversified work portfolio increases the probability of realizing financial and personal success, improves their sense of control and boosts feelings of security.
When I moved from Moloka‘i to Kapolei earlier this year, my goals for retirement were to spend time with my granddaughter, become involved
in my new community by volunteering at the library and local school, and to continue what I enjoy doing — walking daily, reading, acrylic painting, gardening, cooking healthy meals, attending art shows and educational workshops, and hosting new students from Southeast Asian countries who are currently pursuing their degrees at UH-Mānoa.
What I’ve learned is about just that: What I’ve learned these past 16+ years since I entered this field called “aging.” I was 42 years old and didn’t know a whole lot about retirement planning, Social Security or health issues, let alone caregiving and Alzheimer’s. Most people in that age range don’t think about this stuff; however, it is important to think ahead to when we get older and/or about our parents own aging and health issues.
It is not just families who disagree about the interpretation of legal documents. There seems to be tension among estate planning attorneys in regard to recommending that clients write down their heartfelt intentions to accompany those documents. Many lawyers believe that it is the form that is most important — that the written legal language will communicate their client’s heartfelt wishes. Others believe that, no matter how carefully written, the form alone cannot transfer intention.
Many parents, in addition to planning for their own future, care deeply about helping their children find their financial footing as they enter adulthood. Having spent decades building up their nest eggs for retirement, they recognize the power of long-term financial planning and hope their children will capture the same benefits by starting to invest while they are young. Convincing someone just starting off in their careers to set aside money for retirement — which to them, may seem like light years away — can be a tough sell.
One question that is frequently asked by people about to turn 65 who have health insurance through an employer is: “Do I need to enroll in Medicare?” Good question! If you or your spouse are still working when you turn age 65 and have insurance through your employer you may consider delaying Medicare Part A and Part B until you retire if you have Creditable Coverage, which means coverage as good as Medicare. Or you can choose to elect your Part A, which is premium-free, and delay Part B until retirement. Depending on the size of the group, one plan would be primary while the other would be secondary.
Only one out of every 44 cases of financial abuse among the elderly ever gets reported and even fewer make it to trial. This is the true story of one of those cases.
There are three estate planning documents that every competent adult living in the State of Hawai‘i should have. Of course, “competency” can be an elusive quality, but once a Hawai‘i resident has turned 18, the law of our State presumes that person to be competent.
Q: I’m trying to decide when to retire. Can Social Security help?
A: The best place to start is with a visit to the
online Social Security Statement. The statement provides you with estimates of benefits for you and your family as well as your earnings record and information you should consider about retirement and retirement planning.
Despite the great advancements in retirement community resident care in recent years — some through government involvement, but most through business owners seeking to create a better quality of life for seniors — one of the challenges faced when discussing senior living options is the negative stigma that immediately comes to mind about “assisted living.”
Aging is a natural process that no one wants to face alone. Many people choose to live alone in their home as they age, but find themselves depressed, lonely and not eating right. There are many benefits to living in a retirement community.
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May 8, 2023
Senior Medicare Patrol (SMP) Hawaii invites you to its 20/23 Web Series on Fraud Prevention: Scam Free in 2023. Learn from Hawaii residents, and local and national experts, including top security officers from American Savings Bank, Bank of Hawaii and First Hawaiian Bank, the Medicaid Fraud Control Unit - Hawaii Department of the Attorney General; Better Business Bureau and the Financial Industry Regulatory Authority (FINRA) Foundation.
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May 17, 2023
You're invited to join host Percy Ihara today for our monthly workshop at the Ala Moana Hotel. Topics include finances, gerontology, legal mistakes, support services, long-term care options, reverse mortgages and many more. Call 808-600-4383 to RSVP. Seating is limited. 8:30am – 4:30pm
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May 21, 2023
You're invited to enjoy a catered lunch and seminar at Valley of the Temples in Kaneohe at noon on Sundays, May 21, June 4, July 16 and July 23.
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May 24, 2023
Musical memories will come alive on Wednesday, May 24 at 7:00 p.m. as The Makaha Sons and Hawaii Theatre host Music & Memories, a concert to benefit the Alzheimer’s Association – Hawaii. Honoring and celebrating music’s role in our lives and the memories that come alive through music, the concert will feature a lineup of local, talented musicians including Nā 'Ukulele 'Ekolu, Kawika Kahiapo, Bobby Moderow, Jr., Robi Kahakalau, and The Makaha Sons.
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May 25, 2023 – May 31, 2023
‘Ilima at Leihano senior living community in Kapolei is hosting a Toy & Towel pet supply drive to help local shelter pets. The public is invited to take a "paws" for a good cause by simply driving up to drop off donations on a table located at the ‘Ilima front entrance, or donors can buzz the door and care associates will help to collect the items. Requested donations include unopened, unexpired pet food, supplies, towels, and toys
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May 25, 2023 – May 31, 2023
‘Ilima at Leihano senior living community in Kapolei is hosting a Toy & Towel pet supply drive to help local shelter pets. The public is invited to take a "paws" for a good cause by simply driving up to drop off donations on a table located at the ‘Ilima front entrance, or donors can buzz the door and care associates will help to collect the items. Requested donations include unopened, unexpired pet food, supplies, towels, and toys
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May 25, 2023 – May 31, 2023
‘Ilima at Leihano senior living community in Kapolei is hosting a Toy & Towel pet supply drive to help local shelter pets. The public is invited to take a "paws" for a good cause by simply driving up to drop off donations on a table located at the ‘Ilima front entrance, or donors can buzz the door and care associates will help to collect the items. Requested donations include unopened, unexpired pet food, supplies, towels, and toys
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May 27, 2023
Henrietta Lacks was a Black woman who was diagnosed with cervical cancer which quickly consumed her body despite treatment. She died at only 31 years of age in 1951. While undergoing treatment, researchers took samples of her cancerous tumor and Henrietta’s HeLa cells changed the world. Henrietta's phenomenal HeLa cells continue to lead to the most significant advancements of our time, from polio to the Human papillomavirus (HPV) vaccines.
Hear from Alfred Lacks Carter, Jr., Henrietta’s grandson, about her story and how her descendants honor her legacy.
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May 25, 2023 – May 31, 2023
‘Ilima at Leihano senior living community in Kapolei is hosting a Toy & Towel pet supply drive to help local shelter pets. The public is invited to take a "paws" for a good cause by simply driving up to drop off donations on a table located at the ‘Ilima front entrance, or donors can buzz the door and care associates will help to collect the items. Requested donations include unopened, unexpired pet food, supplies, towels, and toys
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May 25, 2023 – May 31, 2023
‘Ilima at Leihano senior living community in Kapolei is hosting a Toy & Towel pet supply drive to help local shelter pets. The public is invited to take a "paws" for a good cause by simply driving up to drop off donations on a table located at the ‘Ilima front entrance, or donors can buzz the door and care associates will help to collect the items. Requested donations include unopened, unexpired pet food, supplies, towels, and toys
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May 25, 2023 – May 31, 2023
‘Ilima at Leihano senior living community in Kapolei is hosting a Toy & Towel pet supply drive to help local shelter pets. The public is invited to take a "paws" for a good cause by simply driving up to drop off donations on a table located at the ‘Ilima front entrance, or donors can buzz the door and care associates will help to collect the items. Requested donations include unopened, unexpired pet food, supplies, towels, and toys
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May 25, 2023 – May 31, 2023
‘Ilima at Leihano senior living community in Kapolei is hosting a Toy & Towel pet supply drive to help local shelter pets. The public is invited to take a "paws" for a good cause by simply driving up to drop off donations on a table located at the ‘Ilima front entrance, or donors can buzz the door and care associates will help to collect the items. Requested donations include unopened, unexpired pet food, supplies, towels, and toys
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June 4, 2023
You're invited to enjoy a catered lunch and seminar at Valley of the Temples in Kaneohe at noon on Sundays, May 21, June 4, July 16 and July 23.
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June 16, 2023
The Hawaii Okinawan Center presents a day of products and services for seniors, including valuable information for caregivers and their family; health, safety, financial, cultural booths. Win a 4-night stay at the California Hotel in Las Vegas courtesy of Vacations Hawaii. Free admission.