IRAs

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.

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.

A Roth IRA is an excellent savings vehicle for older people as it is for younger clients.

A Roth IRA is a good savings vehicle for workers who expect to move to a higher tax bracket in retirement.

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.

Workers aged 35 have to set aside 11.69% of their pay to keep up with those in their 20s socking away only 6% of their salary.

Sometimes the strategy can eliminate a domino effect of other expensive tax problems down the road, Ed Slott writes.

Employees can simplify retirement portfolios by merging multiple accounts

Employees may expect a lower tax liability because of the new rates under the new tax law, especially those who were in the 25% bracket under the old law.

High living costs and lack of saving opportunities in the workplace are preventing many from building up a nest egg.