Retirement income

Expect clients to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.

If the client makes a mistake, they are advised to take the RMD as soon as they discover it so they can ask the IRS for a waiver of the penalty.

Those who signed up in the past year will get a smaller pension than they would under the old system, but they can expect additional benefits from the tax-advantaged Thrift Savings Plan.

The sandwich generation is struggling to save for its own needs, and when you add in family demands, it paints a "grim picture," an expert says.

Expect employers to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.

Although the test is complicated and misunderstood, eliminating it could “do more harm than good,” according to an expert.

The cap on state and local tax deduction under the tax law may prompt more employees to direct their retirement savings to their 401(k)s than to build home equity.

Although more taxpayers are expected to use the standard deduction, they can still claim the tax deduction for IRA contributions.

Retirees who opt to file at a much later date can earn delayed retirement credits that could boost their benefits by as much as 32%.

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.

It would raise enough new revenue to more than restore long-term balance of the program.

Even middle-class households who have health insurance are at risk, as a researcher points out that they are the ones who filed for the most bankruptcies.

High cash-out rates exacerbate an already challenging situation for some minority retirement savers. Households making $20,000 or less are especially vulnerable.

Lawmakers and policymakers should make retirement savings plans universally available if they want to help Americans secure their golden years.

More than two-thirds of retirees say they live as well or better in retirement than when they were working.

One tip for seniors: They should register their My Social Security account as early as they can before other people can create the account.

High cash-out rates exacerbate an already challenging situation for some minority retirement-savers. Households making $20K or less are especially vulnerable.

About 77% of people 50 and older want to stay where they are as long as possible, according to a survey. But clients who want to — or have to — move, have a number of options each with pros and cons.

Retirees often underestimate the cost of the second-largest expense for people 65 and older.

Seniors are more likely to opt for the standard deduction, which increased under the new tax law, but those who want to maximize their deductions have several considerations.