3 retirement rules employees should know by heart

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3 retirement rules clients should know by heart
One retirement rule that clients should know is that Social Security is not enough to cover all their needs in the golden years, according to this article on personal finance website Motley Fool. Retirees also need to adjust their lifestyle based on their retirement income. Despite what some experts think, retirees should continue being invested in stocks, which produce high returns and pay dividends.

This will make you rethink your dividend investing strategy
Investors who are using the dividend investing strategy to generate more income should not focus only on the stock with above-average yield, according to this article on Kiplinger. Instead they should focus on stocks that are committed to growing their dividends. Research has shown that dividend growers and initiators have overtaken all other categories of stocks in 40 years or more.

5 financial milestones you should hit before turning 30
Clients should have stashed away a considerable portion of money in their 401(k) plan or an IRA by the time they reach the age of 30, according to this article from Money. Saving early gives the money more time to grow. Most people think that they’ll start to save more when they earn more money, an expert says. “They just don’t realize how critical those initial years are and how much less they’d have to save over time,” said the expert.

No 401(k)? No problem. You can still save for retirement
Clients who have no access to an employer-sponsored 401(k) plan can still build their nest egg by setting up their own plans, according to this article from USA Today. Self-employed clients may have the option to open a SEP IRA or a solo 401(k). Another savings vehicle worth considering is a health savings account, but only if clients have a high-deductible health insurance plan.

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Retirement readiness Retirement withdrawals 401(k) IRAs Stock dividends