Tax strategies

As long as their earnings won't exceed the limit set by the Social Security Administration, they will not lose their benefits.

Retirees who consider taking withdrawals from their 401(k) and other similar plans should account for the tax impact before making a decision.

Workers have an option to stash their bonus in their 401(k), but doing it may not be a good idea.

Annual contribution limits for 401(k) plans have been raised to $18,500 this year, with catch-up contribution limits capped at $6,000.

Retirees will have to alter the way they file taxes under the new tax law, including making two years' worth of charitable donations every other year to exceed the standard deduction and itemize.

The law allows clients the ability to make tax-free withdrawals for elementary and secondary school expenses.

One strategy to enhance financial prospects is to get a part-time job via the gig economy.

Missing required 401(k) minimum distributions are subject to a penalty equal to half the amount that should have been taken.

Although the current year has been good for participants, many workers are not investing in a retirement plan.

While clients cannot determine their health care expenses and taxes in retirement, they can improve their prospects by minimizing investment fees and diversifying their portfolios.