401(k)

Chances are high that one or both parents who have left the workforce ahead of their full retirement age are still working out of necessity.

Clients are advised place a deeper focus on their life goals when developing a strategy to retire.

If they fear a sharp downturn, seniors may want to avoid locking up their retirement accounts in long-term bonds.

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

Those leaving the workforce before 65 need more cost-effective places to live.

Underestimating their needs, many make decisions that are suboptimal or worse.

Age discrimination, unpredictable life shocks and involuntary retirement casts serious doubt on the “work longer” thesis.

Advisors may need to alert clients as to when these checks will be taxable.

Clients adding investments other than target-date funds to their 401(k) or 403(b) could potentially hurt their bottom line.

With the net unrealized appreciation, workers can roll some employer stock into a taxable brokerage plan.