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

You’re so vain — I bet you think investing’s about you
Investors should not let their egos get in the way when making decisions that will affect their portfolio, writes an expert on MarketWatch. They will be better off sticking to the strategy of owning a mixed bag of stocks and bonds and rebalancing their portfolios, rather than making investing decisions "in purely personal terms" and shifting to investment types that promise incredibly bigger returns, writes the expert. Once you’re down by enough there is no recovery, no magical investment that can recoup a horrible call made when vanity overpowered common sense. Institutional investors know well that outsize gains are typically followed by years of low performance or outright losses, the expert writes. “Concentrated bets have a way of going south. Emotions can drive you into the ditch."

Carly Simon

What you need to do if you want to put off retirement like Warren Buffett
Clients are advised to have a financial plan if they intend to continue working past their retirement age, according to this article on CNBC. They should ensure that they sock away cash in their retirement accounts and make the necessary adjustments to their retirement income. Clients who want to keep working in the golden years should stay fit and healthy, and manage their time well. "Many of us are going to be forced into retirement. Retirement readiness is crucial, regardless of what your plans are," says an expert.

With tax savings, some employers will boost 401(k) contributions
More employers are looking at spending the savings they expect under the new tax law on increasing the company's matching contributions in their 401(k) plans, according to this article from The Wall Street Journal. A dealership company says it will boost its match to 50% of the first 4% of their employee's contribution. “We felt that enhancing benefits would be a continuous opportunity for employees and continue to drive high employee retention,” says a spokesperson of the company.

Should I invest part of my bonus in my 401(k)?
Workers have an option to stash their bonus in their 401(k), but doing it may not be a good idea, according to this article on Morningstar. That's because by doing so they will reach their annual contribution limits before the calendar year ends. Moreover, if they hit the limit too early, they will not be able to get their employer's matching contributions.

Millennials will need more than $200,000 to retire: Chris Hogan
Thirty-four percent of millennials polled by Aperion Care claimed that they would need to save $200,000 to secure their retirement, according to this article on Fox Business. However, an expert thinks otherwise. “It’s depending on your lifestyle and so everyone is going to be a little bit different...," says the expert. Still, if they think $200,000 is enough, “I’ve got to give them a wake-up call,” he says.