Roth 401(k)

While an asset protection trust can cover nursing home care expenses in retirement, growth of these investments can trigger a tax bill.

Seniors who negotiate for such an arrangement should consider their finances, flexibility and mutual benefits.

Withdrawals for non-medical expenses would no longer be penalty-free under the proposal.

“We can’t overestimate the influence of having access to employer-sponsored retirement plans," an expert says.

For retirees, dipping into their traditional retirement accounts could trigger an income tax bill while withdrawing from Roth accounts might not result in a tax liability.

An average couple aged 65 who are about to retire this year will need $285,000 to cover healthcare expenses.

As much as 46% believe Medicare will cover the costs of long-term care.

Those who fail to meet the cutoff face a penalty equivalent to 50% of their required minimum distribution.

A higher standard deduction makes itemizing deductions less valuable.

Clients are advised to diversify their tax positioning when investing for retirement, one expert says. This can be done by contributing to three buckets: taxable, IRA (pretax) and Roth (posttax).

Nonprofits may experience a decline in revenue as more taxpayers are expected to opt for a standard deduction this year.

Premiums appear to be stabilizing finally and even dropping in some states.

Even though the program was created by a large multinational corporation, companies of all sizes could utilize this approach.

Seniors are likely to be in a lower tax bracket in the few years after retirement, creating a "sweet spot" for them to convert some of their traditional 401(k) or traditional IRA assets into a Roth account.

The typical tax-deffered savings account can easily hit $1 million — mathematically speaking.

Socking away all retirement savings in traditional 401(k) and IRA accounts may no longer be wise.

If retirees intend to rely heavily on Social Security for income, they should consider adjusting the timing of their bills to the date that they will receive their benefits.

The differences generally come down to investor eligibility and when taxes are paid, but that can have a significant impact.