4 retirement moves for employees

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4 retirement moves for clients
Retirement savers should consider increasing their 2017 contributions before the year winds down to reduce their tax liability for 2017, according to this article on personal finance website Motley Fool. They should also check whether they are saving enough to meet their contribution goals, and review their retirement plan to determine the balance by the time they retire. Moreover, owning a traditional IRA and a Roth IRA is a smart strategy for clients to have sources of retirement income with different tax treatments, which can help them achieve financial flexibility in the golden years.

How small-business owners can keep good people: Offer better retirement plans
Offering a better retirement plan is one way for small business owners to retain their good employees, writes a Forbes contributor. "These types of plans are available to employers with fewer than 100 employees that do not sponsor other qualified retirement plans, such as a 401(k) plan or a cash-balance plan," writes the expert. "Essentially, if an employer can fit the profile, a SIMPLE plan can be a very cost-effective benefits solution."

Must-have tools and tips for year-end retirement planning
An expert says that planning for taxes should be part of clients' year-end retirement planning, according to this column from USA Today. They may also convert traditional assets into a Roth IRA or recharacterize converted assets if the outcome does not turn out to be in their favor. Clients also have the option of contributing to their IRAs and checking their IRA's value by year's end. Retirees who turn 70 1/2 this year have until April to take the first required minimum distribution by April, while those who are older should take the mandatory distribution by Dec. 31.

Jobs are everywhere, just not for people over 55
Although there are plenty of job opportunities available for Americans and the country enjoys a low unemployment rate, the case is different for older workers, according to this article on MarketWatch. Data from the AARP Public Policy Institute show that 33% of job hunters aged 55 and older are out of work for seven to nine months. “It’s emotionally devastating for them,” says an expert.

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Retirement income Retirement readiness Small business Roth IRAs IRAs AARP