Has coronavirus changed retirement planning?
Nearly 72% of Americans opted to stay the course and stick to their investment plan during the crisis, a survey found.
Retirement scan
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.
Here’s what to do if clients need to postpone retirement
By extending their working years, seniors can see an increase in their Social Security payouts.
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.
It’s a critical time to protect retirees and seniors’ finances
Older clients are advised to take extra steps to protect their finances as the current crisis may leave them prone to making poor financial decisions.
How to build an emergency fund in the middle of an emergency
Clients are advised to minimize spending and tap possible sources of cash and credit, including their tax refund.
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.
Can clients protect 401(k)s from a coronavirus-driven market downturn?
“Find ways to generate income,” says one financial planner.
Clients should expect the unexpected in retirement
While some retirees have seen a substantial increase in spending, many others are enjoying financial freedom.
After the Secure Act, what’s next on retirement legislation?
Industry insiders see momentum building for more retirement legislation that could upend the benefits world.
How to help your clients’ retirement savings last
To ensure their investments stretch as long as they live, clients are advised to develop a sustainable withdrawal plan and consider annuities.
Ways clients can pay off their debt in retirement
Aside from refinancing, retirees are advised to consider downsizing their homes to reduce overall spending.
Young adults can find retirement success. Here’s how
To start, these clients are advised to start saving as early and contribute enough to their 401(k)s to qualify for their employer's matching contribution.
Your clients’ retirement savings may not last as long as they think
“It is really as important for plans to get people thinking about income rather than just accumulation,” an expert says.
The little-discussed downsides of retirement
One of these snags is taxation on clients’ retirement income, which can hurt their cash flow.
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.
