Image: Fotolia
Image: Fotolia

Our daily roundup of retirement news your clients may be thinking about.

Disappearing pensions hurt U.S. economy as well as workers

A study by the University of Paris-Sorbonne found that the decision by the U.S. to scale back pensions in order to boost corporate profitability more than 40 years ago has resulted in reduced productivity. The absence of pensions prompted older workers to increase their working hours and stay longer in the workplace, reducing the participation of workers in the 25-54 age group, the most productive in the labor force, the study found. — USA Today

How to plan for your clients' retirement in their 50s

Clients in their 50s who fear they are not on track to hitting their retirement targets are advised to work longer, according to The Motley Fool. This provides more time to save and allow their savings to grow. Also, clients will need to lower their spending to free more money to save, and continue investing in stocks for greater returns. — The Motley Fool

Three real-life reasons why couples fail at retirement

Many couples don't succeed in retirement because they fail to prepare for surmounting the problems in the golden years together, according to Forbes. They also fail to realize that spending time apart is as essential as spending time together. Having a spiritual gap and inconsistencies in marriage makes retirement difficult, increasing the odds for them to fail. — Forbes

How your clients can retire without a 401(k)

Self-employed clients and entrepreneurs who don't have a 401(k) plan to use for retirement saving can use other vehicles, such as a traditional or a Roth IRA, according to Yahoo Finance. A SIMPLE IRA and a Simplified Employee Pension also are other options that these people can use to build their nest egg. Those who don't have a steady income may consider contributing to a Solo 401(k), which will allow them to skip contributing within a year if they receive no income that year. — Yahoo Finance

Rich people are living longer. That’s tilting Social Security in their favor.

Affluent people are more likely to have a longer life span and receive bigger total Social Security benefits compared with poor people, according to a study by the Journal of the American Medical Association. For example, a poor man who has an annual income of $30,000 and dies at 78 is expected to get about $115,000 less in benefits than what he would receive at age 87, the average life span of a man earning $2 million yearly, the study said. — The New York Times

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