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Our daily roundup of retirement news your clients may be thinking about.

How to make sure your client is ready to retire
Clients who are about to retire should make sure they have enough in savings — and that they won’t get bored, according to an article on Motley Fool. Consider advising them to determine the amount of retirement benefits they will receive from Social Security, according to an expert. Clients should also make sure they have a health care plan in place, an investment portfolio with a retiree-friendly asset allocation and a bucket list of activities to do. Those who have a pension should determine the best option available to receive payments.
How will the stock market drop affect your clients’ retirement savings?
401(k) participants who invested their assets primarily in stocks can expect their fourth-quarter account statements to reflect hefty losses from recent market volatility, according to an article on USA Today. According to an estimate, the losses for an average 401(k) participant with 100% invested in U.S. stocks could reach $8,733 in the final quarter. “Most holders of 401(k)s will be shell shocked,” an economist says.

Millions of workers didn’t save enough for retirement
The number of working clients older than 65 still employed has increased 240% since 1985, according to an article on CBS Moneywatch. This is the first time they are in worse financial shape than their parents since the 1940s, and some are worried they will never be able to retire at all. "I blame myself for it," says one retiree.

3 ways to reduce risk in your client’s portfolio
Investing in more defensive equities might be beneficial in the face of market volatility, according to an article in Morningstar. Clients should consider upgrading the quality of their bond positions, while pre-retirees should include a short-term bond fund to their portfolio, says the expert. "That short-term bond fund can serve as next-line reserves if Bucket 1 is depleted and there are no obvious spots to go to refill it (i.e., it's not a good time to sell stocks or intermediate-term bonds and income distributions are insufficient)."

This article originally appeared in Financial Planning.
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Retirement income Retirement readiness Social Security benefits 401(k) Risk appetite Risk tolerance