Lee Conrad

Whether the husband takes reduced benefits has no impact on the spousal rate, although it could effect potential widow's benefits, according to a Social Security expert.

A recent report from Democrats on the Joint Economic Committee says that Social Security is being threatened, and the federal government should consider modernizing and enhancing the program.

The differences generally come down to investor eligibility and when taxes are paid, but that can have a significant impact.

Many employees expect to collect more than they actually will, which can prompt them to retire and file for benefits early and, in turn, reduce their actual payouts.

People are expected to have a longer life span, and this could pose a challenge in that it will require bigger nest eggs for retirement.

Elderly workers should make sure they have enough fixed-income in their retirement portfolios to spin off cash to cover the gap between income and expenses until the market recovers.

Even if an employee does not use the triple-tax-advantage of these accounts, the benefits are still valuable.

People looking to retire but wanting to keep a part-time gig will benefit from a new law that gives a 20% deduction for “pass-through entities.”

Employees should look into filing for Social Security as soon as they retire to generate extra income and allow their spouse to delay and grow their retirement benefit.

Many employees may not be able to have a comfortable life in their golden years because they carry a hefty credit card debt into retirement

Employees still have a few weeks to make deductible contributions to various retirement accounts, as well as health savings accounts, to reduce their 2017 tax liabilities.

The bill aims to help workers think in terms of lifetime income — as opposed to accumulated balances — by requiring benefit statements to include income estimates at least once a year.

These funds can help workers put saving plans on autopilot, but they can also take on more risk than expected.

Benefit are usually expected to replace about 40% of their pre-retirement income, but that's an average, so many workers will get even less. The question is: how much less?

Employees should consider limiting their traditional 401(k) savings, as the plans provide taxable distributions that can boost their tax bill in retirement

Despite the recent market downturn, workers should remain invested in their employer-sponsored 401(k) plan.

A decline in income as a result of the death of a spouse and an increase in medical expenses both pose a serious risk to retirement but can be curbed with proper planning.

More workers are gaining access to a Roth 401(k), and employees should take advantage of it.

Employees who intend to invest in an IRA and make the most of the account should determine which of a Roth and a traditional IRA will best suit their needs.

Working seniors who intend to start collecting Social Security benefits in the middle of the year should know about the monthly earnings test.