The little-discussed downsides of retirement
One of these snags is taxation on clients’ retirement income, which can hurt their cash flow.
Retirement income
How can women do a better job preparing for retirement?
More than a quarter of women in a recent survey say they are confident they will comfortably retire, while almost a third of men voiced the same confidence.
Clients could be unknowingly sabotaging their Social Security
Filing at the wrong age and failing to take advantage of programs like spousal and survivor benefits are just a few common mistakes seniors make.
Your client was laid off before they could retire? Here’s what to do
Older clients who have lost a job prior to retirement are advised to first consider filing for unemployment insurance and begin making revisions to their budget.
What taxes will my clients owe in retirement?
Aside from income taxes, retirees will also pay consumer taxes and may face a 3.8% Medicare surtax.
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.
How new rules could affect the way clients save for retirement
Seniors choosing between traditional and Roth IRAs must account for their current and future tax rates.
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.
Clients can now make IRA contributions at any age. But should they?
Pre-retirees may consider funding a Roth account to take advantage of tax-free compounding and tax-exempt withdrawals in retirement, an expert writes.
What to do if your client waited too long to address retirement
Taking advantage of catch-up contributions is one of several methods that can help them get back on track.
This could be 2020’s most important retirement savings vehicle
The HSA has become increasingly valuable for future medical expenses, "and the triple tax benefit simply can’t be ignored,” an expert says.
Why clients aiming for early retirement shouldn’t feel guilty about spending
Pre-retirees are encouraged to save aggressively and create a list of things they plan to spend their money on without remorse, an expert says.
Ways retired couples can curb their spending
Clients can void overspending by seeking out sales and discounts to lower their food and entertainment costs.
Benefits Think My Plan B for retiring as an adviser
A succession plan is not only for retirement but in the event of premature death, serious illness or incapacity.
Carolyn McClanahan
Life Planning Partners
Why clients need more than one source of retirement income
While it’s recommended they have at least three sources when they retire, just 6.8% of savers have done so, according to a report.
Why Gen X is the least prepared for retirement
While retirement readiness among Americans has improved in general, Gen Xers are struggling with housing, college and medical costs, a survey finds.
Benefits Think Recordkeepers play a critical role in helping employees benefit from the Secure Act
Employees will need more education and guidance when it comes to taking advantage of their defined contribution plans.
Kara Melber
Corporate Insight
Conversations newlyweds need for a healthy retirement
After developing a plan to cover their bills and emergency expenses, clients in a new marriage are advised to start working on their long-term goals.
Best 2050 target-date funds of 2019
Steady gains made in equity markets last year were "clearly a tailwind,” an expert says.
Where will younger clients find retirement income?
Nearly 48% of younger Americans feel they are not saving enough to secure their lifestyles after leaving the workforce, a report finds.
