How to help employees negotiate their retirement salary

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How to help clients negotiate their retirement salary
Seniors who are retired or approaching retirement are advised to weigh their options carefully before deciding on how much income to draw from their portfolio after leaving the labor force for good, according to MarketWatch. They should figure out the amount they will need to cover their living expenses and determine the level of investment
risk that they are willing to take. Clients should identify the ways to invest their equities.

A one-size-fits-all plan won’t give clients their ideal retirement
Clients should avoid the one-size-fits-all formula in developing their retirement plan and instead personalize their plan based on their individual goals and their preferred lifestyle in the golden years, writes an investment adviser on Kiplinger. Risks and missed opportunities are factors that could prevent them from securing their retirement, and they should ensure that they have an income plan in place, writes the expert. "If you are approaching retirement and don’t have a plan in place that you know will work, go see a retirement planner who can devise a specialized approach."

Retirement surprises: What retirees wish they had known
Many seniors retired earlier than expected, suggesting that clients should consider different scenarios and projected costs when planning for retirement, according to a study by Wells Fargo/Gallup Investor and Retirement Optimism Index, Fox Business says. “Information is power when it comes to retirement,” said Ready. “In this case, doing the detailed planning to calculate projected income and taxes pays off in helping to provide confidence — because investors then know what to prepare for.” says an expert.

How long $1 million in retirement lasts in US cities
Retirees can expect their $1 million savings to last the longest if they live in Houston, Oklahoma City, and Austin, Texas, data from GOBankingRates shows, according CNBC. They can also stretch the amount further if they decide to move to Tulsa, Oklahoma and Memphis, Tennessee. The same amount of retirement savings will not last long if they live in New York, Boston, San Francisco and Philadelphia.

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