401(k)

Workers from both generations share similarities — and financial pressures — when planning for retirement, writes an expert.

To secure retirement for both spouses, married clients need to determine their savings rate in their 401(k)s and take advantage of the employer's match.

The change would affect seniors who converted traditional accounts to Roth and paid taxes for the benefit of their heirs.

Female clients should start as early as possible and take advantage of the employer match, contributing at least 15% of their income.

The Secure Act will pave the way for expanded distribution channels, even as J.D. Power finds issuers lagging in measures of client satisfaction.

Seniors hoping to begin retirement next year are advised to review their risk exposure, pay down their debt and save for additional health care costs.

One tip for younger clients is to create multiple income streams that are subject to varying tax treatments.

Failing to enroll in a health care plan and taking on a hefty student loan debt are just two of the most common blunders younger clients should avoid.

"A long life is wonderful, but it is also costly and a bigger drain on resources," an expert says.

Of all the end-of-year financial faults affecting workers, this one could cause them to end up working longer than they had intended.

Medicare savings programs, discounts on prescription drugs and rental assistance are a few ways retirees can lighten their load.

Vesting schedules applies to the type of money, not on the exact amount that was deposited, according to an expert.

Helping clients develop a solid investment strategy is an important step to help them survive market volatility.

Fund industry Darwinism should be seen as healthy and natural in a thriving — albeit brutal — market, an expert says.

Early and consistent saving may not be enough to safely leave the labor force for good.

With pensions gradually disappearing, more retirees will have to rely on 401(k)s.

The decisions made before they retire are integral to their success, according to an expert.

Waiting too long means clients will miss out on the opportunity to maximize the plan’s full tax benefits.

In some cases, clients are advised to pay off their debt instead of putting money aside to retire.

Younger clients are more savvy consumers who know how to minimize their expenses and are less inclined to spend on material goods, an expert says.