Spring 2008 Newsletter

Page 1 -

Introducing:
ASB Free Checking!

Online Banking puts you in touch and in control

Page 2 -

Take control of your retirement savings

Page 3 -

The best banking hours
in Hawaii

Beware of tax scams

Page 4 -

American Savings Bank supports economic development with a $100,000 grant to YWCA

American Savings Bank launches "First Saturday" community program

Page 5 -

Safe Driving, Local Style … and save lives!

"Help Your Dream Grow" Giveaway Winner

Page 6 -

Abbey Carpet & Floors Private One-Day Sale

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Take control of your retirement savings

Since 1904, life expectancy in the United States has been steadily increasing. Those who are 65 years old today are expected to live on average an additional 20 years, and we all want those years to be as financially comfortable and stable as possible. Since personal investments should make up part of a sound financial plan, an Individual Retirement Account (IRA) is a great way to plan for your future. Regardless of what type of IRA you choose, as long as the money stays in the IRA, earnings and capital gains grow tax-deferred.*

To help determine what type
of IRA best fits your situation:

Review the tax-deferred and taxexempt growth potential of different IRA options.
Consider how the investments within the IRA will be used to realize your long-term financial goals, taking into consideration differing time frames and expectations.
Consider converting Traditional IRA assets to a Roth IRA for a tax-free and potentially larger nest egg.

Do I need an IRA if I already have a company retirement plan?

Over 40% of retired Americans say they didn't save enough for retirement. An IRA is an excellent way to have savings in addition to Social Security and a company retirement plan. And with an IRA, you have more control over your investment choices.

Who is eligible for an IRA?
Most taxpayers who have earned income are eligible for an IRA. Spouses of income earners can have their own IRAs even if they don't earn income. The same contribution limits apply; for 2008 the contribution limit is $5,000.**

What exactly is an IRA?
An IRA is simply a set of rules governing annual contributions, transfer and rollover activities, distributions and tax consequences associated with an investment. Think of these rules as an umbrella; underneath the umbrella is the actual investment itself. There are three basic types of IRAs – Traditional, Roth and Rollover.

To learn more about your IRA options, contact a Financial Advisor from the Financial Services Group of American Savings Bank at (808) 735-1717 (Oahu) or 1-888-343-5539 (Neighbor Islands).

*	Taxation for qualified withdrawals and penalties for nonqualified withdrawals differ for Traditional and Roth IRAs. Consult your tax advisor for details.
**	For taxpayers age 50 and up, an additional catch-up contribution is allowable in the amount of $1,000 per year.

Securities are offered by, and Financial Advisors are registered with UVEST Financial Services, member FINRA/SIPC. UVEST and American Savings Bank are independent entities.

NOT A DEPOSIT • NOT FDIC-INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT GUARANTEED BY AMERICAN SAVINGS BANK.

Page 1: Introducing: ASB Free Checking! | Online Banking puts you in touch and in control
Page 2: Take control of your retirement savings
Page 3: The best banking hours in Hawaii | Beware of tax scams
Page 4: American Savings Bank supports economic development with a $100,000 grant to YWCA |
American Savings Bank launches "First Saturday" community program
Page 5: Safe Driving, Local Style … and save lives! | "Help Your Dream Grow" Giveaway Winner
Page 6: Abbey Carpet & Floors Private One-Day Sale