Retirement accounts at ‘serious risk’ as COVID-19 spurs bankruptcies
To protect client nest eggs, advisors must know which savings vehicles are protected — and they’re not all created equal.
Portfolio management
Cashing out a 401(k) due to coronavirus? Consider these things first
For one, clients will owe taxes still on the distributions, unless they recontribute the money into the account within three years.
Should your clients stop contributing to their 401(k) in a crisis?
Market volatility brought on by the coronavirus pandemic may present a great time to invest, as many stocks are being sold at bargain prices.
Your client lost their job due to coronavirus. Now what?
In some cases, workers who have received severance pay have the option of investing the money for retirement and other long-term goals.
Retirement planning tips in the time of coronavirus
Clients are advised to keep some of their savings in cash and focus on their long-term prospects.
How to handle Medicare if clients are working at 65
“The advice I give is to calculate the financial impact for each option,” an expert says.
Older workers are staying in the job market. Here’s why
The spike in the number of older employees in the workplace reflects a trend over the past decade.
How to achieve diversification on the road to retirement
"Since no one has a crystal ball to predict what will happen, I advise saving money on both sides of the tax fence," an expert says.
Clients can save for retirement while running a business. Here’s how
It is important for entrepreneurs to have an exit strategy and to take control of their debt.
When retirement expectations meet reality
Financial planners should at least consider modeling early retirement to prepare clients for the possibility of uncertainty, says Morningstar.
Common mistakes clients must avoid during Medicare open enrollment
When searching for the right plan, it is important that retirees assume their health will one day change.
Clients are too conservative with their retirement accounts
Retirees often only take distributions when they are forced to do so because of the IRS’ RMD rules, an expert says.
Mistakes retirees should avoid before a market correction
If they fear a sharp downturn, seniors may want to avoid locking up their retirement accounts in long-term bonds.
Employees about to retire don’t have enough money in their 401(k)s
To make the most of their savings, workers should start funding their accounts as early as possible.
How employers can help parents retire without derailing their own plan
The next generation can assist loved ones with applying for financial assistance, reducing expenses and developing a financial plan.
Millennials are the new face of the retirement crisis
These employees will need bigger savings than other age groups to fund a longer retirement horizon, according to a study.
Nearly half of baby boomers make this pricey mistake
As much as 46% believe Medicare will cover the costs of long-term care.
Is it ever a good idea to hold company stock in a 401(k)?
Heavily weighting any single stock has the potential to make a portfolio more volatile.
Can an annuity help sidestep Social Security taxes?
Although earnings in a deferred annuity will not be included in an investor's adjusted gross income, future withdrawals from the annuity could trigger a bigger tax bill.
Social Security proposal retains — and even enhances — benefits
It would raise enough new revenue to more than restore long-term balance of the program.
