Social Security

Some of these states, however, may not be tax-friendly for retirees.

The average retirement age is 61, with only 4% of seniors working until the age of 70 or older, according to a Gallup survey.

The average retirement age is 61, with only 4% of seniors working until the age of 70 or older, according to a Gallup survey.

Advisers can protect their clients' retirement savings by allocating their assets across equities, fixed income and cash.

Each pre-retiree couple is in a unique circumstance, and needs to account for their health and longevity, as well as their willingness and ability to work.

Retirees are likely to have fewer choices when they start shopping around for Medicare Advantage plans during the open-enrollment period that begins Oct. 15.

Employees should consider a dependable second-hand car instead of a new one, and then redirect the money saved into a retirement account.

Rates are likely to remain low, which will have a negative effect on retirees and older workers who are adjusting their portfolios in preparation for retirement.

Rates are likely to remain low, which will have a negative effect on retirees and older workers who are adjusting their portfolios in preparation for retirement.

Workers should start shoring up their savings by chipping in as much as they reasonably can to their employer’s retirement plan, especially if it comes with a matching contribution.

Retirees who under-reported their income to avoid taxes will also get smaller retirement benefits than they deserve.

Retirees who under-reported their income to avoid taxes will also get smaller retirement benefits than they deserve.

Retirees should weigh a number of factors, including the fact that the closing costs for reverse mortgages are higher than those for regular mortgages.

Retirees should weigh a number of factors, including the fact that the closing costs for reverse mortgages are higher than those for regular mortgages.

IRA investors should consider implementing a charitable lead annuity trust when converting some of their funds into Roth to mitigate the tax bite.

IRA investors should consider implementing a charitable lead annuity trust when converting some of their funds into Roth to mitigate the tax bite.

New retirees are often anxious about spending to much, depriving themselves of some comforts of life for fear of outliving their nest egg.

New retirees are often anxious about spending to much, depriving themselves of some comforts of life for fear of outliving their nest egg.

Surviving spouses will either receive their own Social Security benefit or the survivor's benefit, whichever is higher. But they also may get pushed to a higher tax bracket, which. in turn, could mean higher taxes on Social Security benefits.

Recent actions by the federal government are not helping Americans to improve their retirement prospects, says analyst.