Retirement scan

People are expected to have a longer life span, and this could pose a challenge in that it will require bigger nest eggs for retirement.

Elderly workers should make sure they have enough fixed-income in their retirement portfolios to spin off cash to cover the gap between income and expenses until the market recovers.

Instead of amassing $1 million in savings, clients should consider asking themselves if they are prepared financially for several decades of retirement.

Many retirees kept their financial assets for at least 20 years after retiring, according to a study by the Employee Benefit Research Institute.

A Roth IRA is an excellent savings vehicle for older people as it is for younger clients.

Employees have to change their retirement goals and strategies over the years, starting off heavily in stock allocation while in their 30s.

Employees who think they have lost their retirement assets are advised to seek help from the DOL or nonprofit pension counseling centers funded by HHS.

Even if an employee does not use the triple-tax-advantage of these accounts, the benefits are still valuable.

Employees should account for the tax ramifications before making such a decision.

Seniors who are retired or approaching retirement are advised to weigh their options carefully before deciding on how much income to draw from their portfolio