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

Rethinking conventional wisdom on retirement withdrawals
While a stock-first withdrawal approach is viewed as a prudent way for retirees to tap into their retirement accounts, financial advisers should not readily recommend this strategy, as it may expose their clients to sequence-of-return risk exposure, writes an expert. Some clients may be better off using a bonds-first strategy, as studies have shown that those who use this approach are less likely to outlive their savings, the expert argues. "I think it’s important that advisers consider their retirement-income strategy—and also look closely at the tools they’re using to help clients plan for retirement and understand the various limitations and potential biases that they pose." –The Wall Street Journal

Image: Bloomberg
Image: Bloomberg

That 'safe' retirement investment is about to change
401(k) participants can expect changes to the plan’s investment menus as tougher rules on money-market funds will be implemented starting in October, according to this article on CNBC. "We have used money-market reform as a gateway to re-engage retirement plans on cash equivalents and what's appropriate in a low-rate environment," says a plan consultant. "More of them have opted to replace money-market funds with stable value." –CNBC

15 retirement investing mistakes to avoid
Although preparing for retirement appears easy, many investors fumble when markets become volatile and they start to doubt their investment strategies, according to this article on U.S. News & World Report. "I have seen investors destroy their retirement in the blink of an eye with one mistake," says an expert. Read about the15 common mistakes that retirement investors make and learn what clients can do to avoid these errors. –U.S. News & World Report

Retirement involves supporting more than just yourself
People are advised to save more than what they ought to have in their retirement accounts, as they are likely to need to support some of their loved ones after they retire, according to this article on The Street. A survey found that 64 percent of seniors aged 70 and above provide financial support to family members. "Don't let yourself get into financial trouble because you failed to reassess your own budget while helping your child," says a certified financial planner. "This holds true for all sorts of gifts, but it can be harder to say no when you share a living space and witness your child's struggles firsthand." –The Street

Retirement planning for women
Although retirement planning poses more challenges to women than to men, female clients will still be able to secure their golden years by following the basic strategies, according to this article on MarketWatch. They should start saving as early as they can and boost their savings rate to end up with sufficient funds. They should also invest their savings wisely and weigh their options before filing for Social Security. It is also important that they have an estate plan for smooth transfer of wealth to their loved ones after they die. –MarketWatch

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