Now might be a good time to save in Roth accounts
Contributing to these accounts makes sense for clients who anticipate higher tax rates in the future.
Retirement scan
Baby boomers and millennials have more in common than they think
Workers from both generations share similarities — and financial pressures — when planning for retirement, writes an expert.
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.
Multiyear tax planning may help stretch retirement savings
Clients should think of the years as empty buckets and keep the amount of income into each bucket level per year.
Clients don’t need high-paying jobs to become millionaires
To build their wealth, retirement savers are advised to take advantage of tax-advantaged plans including 401(k)s and IRAs.
Retiring early with kids may be harder than employees think
Chances are high that one or both parents who have left the workforce ahead of their full retirement age are still working out of necessity.
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.
How employees can negotiate a ‘phased retirement’
Seniors who negotiate for such an arrangement should consider their finances, flexibility and mutual benefits.
How much do employees need to retire?
Workers need to have saved a certain amount at a certain age to stay on track for securing their retirement.
Working longer may not be the solution to the retirement crisis
Age discrimination, unpredictable life shocks and involuntary retirement casts serious doubt on the “work longer” thesis.
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.
Married women experience higher retirement risk
“The big issue here is being able to maintain your standard of living,” an expert says.
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.
Why aren’t more employees making 401(k) contributions?
Many pin the blame on stagnant or dwindling income, according to a new survey.
Bill could jeopardize savings accounts for clients with Medicare
Withdrawals for non-medical expenses would no longer be penalty-free under the proposal.
Steps to help millennials lay a financial foundation
Before saving for retirement, young employees are advised to pay down high-interest debts and build an emergency fund, an expert says.
Retirees are facing a bigger risk than market volatility
Employees have to increase their risk exposure to ensure they don’t outlive their savings.
