Most dream of reaching financial freedom by their 60s. Even though this is not always possible, we all have the ability to improve our financial literacy and take better control of our financial futures no matter how old we are. Anyone who has worked hard throughout life deserves a financially secure and comfortable retirement.
Learning is an ongoing lifelong process, it’s never too early or late to become more financially literate. Basic financially literacy is knowing how to manage money, pay bills, how to borrow and save responsibly, and how to plan and invest wisely.
Some members of every ohana will require assistance in becoming more financially literate. Taking the time to educate yourself on the basics of life planning and managing finances will leave your entire ohana better off in the future.
Many spend most of their lives avoiding important discussions about finances, especially as some cultures deem them rude. While conversations about life planning issues can be difficult, they are without a doubt very important.
When it comes to financial literacy and financial advice, especially complicated issues surrounding life planning, it’s always wise to consult a professional financial planner. Working with a professional helps create financial plans tailored to specific goals, and provides guidance on the appropriate allocation of ohana resources.
A professional financial planner helps create a roadmap and a financial blueprint of all aspects of one’s financial picture. The foundation of a financial plan are one’s goals and objectives and helps answer some crucial life planning questions. Is your financial house in order? Where are all your most important documents? What do you want your lifestyle to be in your later years and who do you want to spend your time with? What are your long- term care plans if you are not able to take care of yourself? Will your loved ones be taken care of if you were to suddenly pass away?
Having a financial plan helps answer these questions while providing direction and clarity. Everyone’s financial situation is different which is why it is important to work with a professional. Professional financial planners have the requisite knowledge, financial expertise and experience to properly organize one’s finances to greatly increase the chances of success.
Helping all Hawaii’s ohana achieve their highest quality of life possible is the main goal of the “Get Your House in Order” campaign, while reminding everyone of the importance of sound life planning decisions.
How can you develop better financial literacy and start a plan to get your house in order? Hawaiian Financial Federal Credit Union’s Ho’okele Guidebook helps you navigate the complexities of end of life planning. This valuable resource is one of the very best ways to get your house in order by having all your most important information in one place.
Ho’okele is a personal planning booklet containing legacy wishes, employment and retirement information, insurance and bank document locations and important contacts. Downloading the Ho’okele PDF booklet on the HIFICU website is a great start and the foundation for financial planning. Putting down everything you have in writing helps you see what you have and helps you identify the gaps in your plan.
Check the HIFICU website for more details on the Get Your House in Order campaign here.
And remember, Hawaiian Financial Federal Credit Union is a full service financial institution. Please contact us directly if you have any questions or would like assistance getting your financial house in order.
You can reach Hawaiian Financial Federal Credit Union at 808-832-8700 or at hificu.com.