Margarida Correia

The proposal to limit the 401(k) tax deductions would affect 55 million Americans of all ages and income levels, according to study.

The proposal to limit the 401(k) tax deductions would affect 55 million Americans of all ages and income levels, according to study.

The government should promote universal access to retirement savings and give workers more options for the spend-down phase of retirement, according to the study.

The government should promote universal access to retirement savings and give Americans more options for the spend-down phase of retirement, according to the study.

Although retirees need to protect their savings to avoid losing money, extreme aversion to loss could do more harm than good.

Although retirees need to protect their savings to avoid losing money, extreme aversion to loss could do more harm than good.

An average 50-year-old woman in New York should begin socking away 49% of her income to her retirement account in order to live comfortably in her golden years, according to UBS.

This person in New York should begin socking away 49% of her income to her retirement account in order to live comfortably in her golden years.

If a family contributes approximately $6,000 per year to an HSA, compounded at 6% growth for 20 years, that's $234,000 at retirement, says expert.

If a family contributes approximately $6,000 per year to an HSA, compounded at 6% growth for 20 years, that's $234,000 at retirement, says expert.

Retirees can change their Part D prescription-drug plans, Advantage plans, and/or switch from traditional Medicare to Medicare Advantage during open enrollment, which ends Dec. 7.

About 28% of seniors polled by Nationwide claimed that their lives worsened after they retired.

The annual cost-of-living adjustment could increase by as much as 2% due to inflation spurred by recent hurricanes.

Social Security, pension type, and education are factors that have contributed to the rise in the retirement age since the mid-1980s.

Savings are only as safe as the places that hold personal information, expert says.

Retirees can open health savings accounts, which offer tax breaks on contributions and qualified distributions, and tax-free growth on investments.

Those who left the workforce can open HSAs, which offer tax breaks on contributions and qualified distributions, and tax-free growth on investments.

Some experts say that people are living longer past the age of 70 and they should not be forced to make unnecessary taxable withdrawals.

While delaying Social Security can maximize retirement benefits and boost income, some clients have financial circumstances that make an early retirement a better option.

While delaying Social Security can maximize retirement benefits and boost income, some workers have financial circumstances that make an early retirement a better option.