Plan your retirement, then plunge into work

By Catherine E. Toth
Advertiser Staff Writer

• Get finances in order: Experts suggest retirees check with a financial planner to help organize their finances and map out their retirement strategy. They should also consider the cost of long-term care, which, in Hawai'i, can be exorbitant. Nursing homes start at about $230 a day or $7,000 a month and more. "Planning for one's longevity is highly recommended," said Pat Sasaki, executive director of the state Executive Office on Aging.

• Do what you love: It's sound advice for anyone contemplating a career. But work is an option for many retirees, so they should pick something they enjoy. "You should enjoy yourself," said Barbara Kim Stanton, AARP state director. "It's about quality of life. If you chose right, it really won't be drudgery. It will be a joy to go to work. ... This time of your life is the best time of all."

• Take a chance: Many retirees are collecting Social Security and pensions — and may even have money saved in the bank — to be able to take a financial risk. This may be the perfect time for them to start a new business or take a job they couldn't have taken before. "Now they have a safety net, they can try things they've never done before," Stanton said. "They can take a risk they hadn't been able to do before. It allows for a lot more flexibility. They don't have the daily responsibility of the kids, so this is really their time. And they're loving it."

• Stay healthy, stay sane: Keeping active, whether in a job or with a hobby, is a way to stay young in both body and mind. "It's extremely important to keep active mentally and physically," said Marian Grey, 70, who works full-time and is active in various organizations including the Hawai'i Kai Hui. "I always have a lot on my plate."