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SALT LAKE CITY — KSL TV's March Positively 50 Plus is focused on saving for retirement. Particularly, those in their 40s and 50s during the "preretirement years." Our friends at AARP Utah help folks navigate decisions they can make now to prepare for the golden years. Retirement is just around the corner for AARP volunteer, Kimo Pokini. “I’m 54 right now. I’ve been saving up for retirement for a number of years,” she said. Pokini, who runs a non-profit for sheltered animals, realized his 401K wouldn’t be enough for retirement and hired a financial planner. “There were insurance considerations, emergency kind of situations where you needed a bit of a buffer safety net,” Pokini said. As the cost of living continues to increase, Americans aren’t saving for retirement. A new AARP study shows 61% of adults are worried they won’t have enough money to support themselves, and 20% have no retirement savings. Alan Ormsby is the state director for AARP Utah. “If you haven’t done anything, start thinking about it now.” He says first, figure out a budget. “For most people, the unknowns (are) the part that’s the hardest,” Ormsby said. “A lot of it has to do with healthcare.” AARP hosts an online quiz that aims to help people build a plan to start saving. “AARP has a variety of different calculators that can help you for things like when you should take social security,” Ormsby said. When designing your retirement plan, Alan said to think holistically. “What do you want to do? What’s your purpose and what meaning are you going to bring to the world?" he said. Alan suggested discovering your “why,” and once you know, take steps toward your dreams. For many older Americans, traveling the world is on their list. A recent AARP study shows in 2024, those 50 and older are traveling more than ever. Pokini plans to do just that once he leaves behind the daily grind of full-time work. “Where I’m at, I want to live a life that allows me to continue to serve my community," Pokini said. "But also have time, money and resources to travel and try out new things in life." AARP has a wealth of info to get you started on retirement planning on its online quiz.
