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Free Workshop to Help Pre-Retirees Secure Financial Future

August 22, 2016, 2:01 PM HST
* Updated August 22, 2:04 PM
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Big Island Now stock photo. Aug. 2016

Big Island Now stock photo. Aug. 2016

What steps should pre-retirees take to ensure their future is secure?

The growing emphasis on personal responsibility for retirement savings creates greater uncertainty for people looking to retire comfortably in the years ahead.

In response to requests from residents looking for information to help make smart financial decisions, AARP Hawaii will host a free workshop at the West Hawai‘i Civic Center in the Community Meeting Hale on Saturday, Aug. 27, from 9 a.m. to noon.

Hawai‘i residents live, on average, three years longer than other Americans, and for many people, longevity comes with greater anxiety about outliving their assets.

Add to the mix questions about the best time to collect Social Security benefits, and preparing for a secure retirement can be daunting.

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The following sessions are included in the workshop:

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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 healthcare 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% 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.

Introduction to Medicare 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.

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Residents can register online at or call 1-877- 926-8300 toll free.

Snacks and event materials will be provided.

AARP is a nonprofit, nonpartisan organization with nearly 150,000 members in Hawai‘i. AARP helps people turn their goals and dreams into real possibilities, strengthens communities and fights for the issues that matter most to families such as healthcare, employment and income security, retirement planning, and protection from financial abuse.

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