Our daily roundup of retirement news your clients may be thinking about.
7 tips for women about to retire
Female clients are more likely to live longer than their male counterparts will, and they have a greater need to prepare well for retirement, according to USA Today. To do so, women need to rely on a financial adviser who can educate them on investing and asset allocation, as well as create a retirement budget. Women also need to know their family's finances, weigh their Social Security and retirement benefit options, and determine their health care costs in retirement. --USA Today
Treasury green lights longevity annuities In 401(k)s and IRAs
Workers are allowed to put as much as 25% of their 401(k) or IRA into a longevity annuity that guarantees lifetime payouts, under new rules announced by the Treasury Department, according to Forbes. The rules will no longer require workers to comply with the age 70.5 minimum distribution requirements, and limit adjustments will be made for inflation in $10,000 increments. Under the rules, the annuity contract is also no longer included in the account balance, and the premiums are returned to the policyholders' heirs if they die before or after the date of their annuity. --Forbes
Advisers keep clients' impulses and fears in check
Financial advisors need to remind their clients constantly about their retirement goals to keep them motivated. This article discusses how a financial advisor convinced a couple to forgo buying a $300,000 home and to stay on track in achieving their long-term retirement plan. Reiterating the plan with the client's accountant and estate lawyer is a good way to keep the client focused on the goal, The Wall Street Journal says. --Wall Street Journal
Social Security: 2 important questions about your benefits
The two important questions workers need to ask about their Social Security benefits concern the best time to apply for the benefits and the approximate amount they are likely to expect monthly, according to Motley Fool. The article comes with a video in which contributor John Maxfield addresses questions about Social Security raised by a confused reader. --Motley Fool
Retirement inspiration from Winston Churchill
Former British Prime Minister Winston Churchill, who led his country to victory during World War II, is an inspiration for clients who prepare for retirement, according to an article from CBS Moneywatch. The British leader was 65 when he faced the enormous challenge, and he sacrificed a lot to defeat the Germans, making a difference although he was already in his golden years. Despite the defeat of his political party after the war and his near financial collapse, Churchill went on to win the Nobel Prize for Literature for his writings and to serve his country again as prime minister. --CBS Moneywatch
Read more
