It is so good to be retired! I don't miss the daily alarm at 4:30 am to get ready to face the…read moretraffic to work, deal with the work challenges, running to the market right after work, cooking dinner, and tending to the kids. It was just not enough time to do all that was needed. Now retired, I am, in fact much more busy than when I was working. But there is a big difference: I can choose what I want to do and enjoy every moment of it!
We all have that choice to look forward to. I never thought I would be retired at age 58, as I had always thought that age 65 was the magic year. Enter Island Wealth Management (IWM), who made this happen.
Started in 2008 by its founder and President of IWM, Brian Enoka, this company provides retirement planning, investment management, and multi-generational asset transfer strategies. They've helped our family to objectively create a customized financial plan for our needs by:
* Putting our savings into assets, e.g., stocks and bonds, and managing them via LPL Financials, to realize growth that exceeds regular bank savings.
* Overseeing our life insurance plans, as well as ensuring that we have adequate long-term care options.
* Utilizing programs that can analyze our income and expenses in any point in time, taking into consideration when our next car will be purchased or any big-ticket items, such as travel, in the coming years. They plug in the numbers to estimate the monies needed and how we will get them.
* Setting up a college fund for our grandkids, with the eventual withdrawal of college expenses being tax-exempt.
* Coordinating with our Estate Attorney to ensure the proper transfer of assets to the kids.
* Coordinating with our Certified Public Accountant to ensure that our tax liabilities are minimized.
* Alerting us to take advantage of a little known spousal benefit in collecting social security.
IWM's process includes a six-step process in understanding their clients' unique needs and goals:
* Establish an advisor/client relationship.
* Gather client data.
* Analyze and evaluate data.
* Develop and present recommendations.
* Implementation.
* Monitoring.
They also provide various workshops for their clients during the year, with outside consultants giving presentations on diverse topics, such as social security benefits, Medicare, long-term care benefits, etc. These workshops allow us to understand complex laws and regulations on a more simplistic level.
IWM is located at Waterfront Plaza, also known as Restaurant Row, and provides full validated parking.
IWM has six Financial Advisors on staff, with each having many years of specialized expertise in retirement income planning, cash flow analysis, risk management/tax-advantaged investments, and/or insurance: Brian Enoka, Krystal Emge, Lance Miyahira, Grant Hashiba, Mike Moss, and Paul Moon. Accolades to Brian, who was ranked a third place finalist in Hawaii's Best of 2017 by the Honolulu Star Advertiser for Best Financial Advisor (Individual).
We work directly with Brian and Krystal, who are always within an arm's reach when we need them to answer any of our questions. And I have called them many times whenever I had the slightest reason to do so, knowing that they will give you their undivided attention no matter how insignificant your question is. They are like family to us. We also have regular meetings at least annually and more often on an as-needed basis to check on our status and review any changes that have recently occurred.
I only wished that we had financial advisors when we were in our 20's. Surely, at that time, retirement is the furthest from our minds, but once you have a plan, you could retire much earlier than the expected retirement age. Plus, there is always a way that one can balance savings and enjoying life at the same time. Believe me, these guys make it happen! Not only are we satisfied with their services, but are now encouraging our adult kids to sign them up as their financial advisors.
We had never thought we would have needed financial advisors, as we thought they were only for the wealthy. But it is because of IWM that we were able to achieve our life goals and be able to retire comfortably when we did. Thank you, Brian Enoka and Krystal Emge, for your on-point advice in making our retirement truly possible and enjoyable!