401(k)

“Traditionally, 401(k)s generally have some really good investment options that you wouldn’t be able to do on your own,” an expert says.

Market volatility brought on by the coronavirus pandemic may present a great time to invest, as many stocks are being sold at bargain prices.

From Roth conversions to QHFDs: The coronavirus pandemic is forcing difficult questions, and clients rightfully are looking for answers that advisors are uniquely suited to provide.

By extending their working years, seniors can see an increase in their Social Security payouts.

A revocable living trust is one way to reduce their estate taxes, however the law requires clients to sign the document in the presence of the notary.

Seniors should focus on what they can control — such as their reaction to market volatility and their long-term savings.

In some cases, workers who have received severance pay have the option of investing the money for retirement and other long-term goals.

Older clients are advised to take extra steps to protect their finances as the current crisis may leave them prone to making poor financial decisions.

Clients are advised to minimize spending and tap possible sources of cash and credit, including their tax refund.

Market plunges are normal and stocks are likely to recover and earn a positive return over the long term, says an expert.