Portfolio diversity

Despite the recent market downturn, workers should remain invested in their employer-sponsored 401(k) plan.

Tax-free withdrawals could outweigh an employer's match if early withdrawals are made for expenses like healthcare.

Retirees should stick to their strategies and diversify their portfolios with various sources of income.

Surviving spouses will either receive their own Social Security benefit or the survivor's benefit, whichever is higher. But they also may get pushed to a higher tax bracket, which. in turn, could mean higher taxes on Social Security benefits.

Many Americans are facing bleak retirement prospects as a result of the current do-it-yourself retirement system.