Extreme loss aversion is not a retirement strategy
Although retirees need to protect their savings to avoid losing money, extreme aversion to loss could do more harm than good, according to this article on Kiplinger. That's because retirees need to live off the income generated by their savings, and extreme loss aversion prevents them from doing so. Being extremely averse to loss keeps retirees from taking on some risk in exchange for better returns.

(Bloomberg News)
(Bloomberg News)

Attention, high earners: Your Social Security taxes are going up in 2018
The Social Security Administration has announced that it will raise the wage cap from $127,200 in 2017 to $128,700 next year, according to this article on Motley Fool. All earned income will be taxed 6.2% for Social Security purposes. Those who earned more than the wage cap can expect to pay more in Social Security taxes.

What’s next after planning your retirement? Help your children and grandchildren plan for theirs
Retirees can gift away up to $14,000 to a grandchild without paying any taxes, according to this article on MarketWatch. Gifting money is an option to help a loved one boost his or her savings in a tax-advantaged account. A Roth IRA is a great savings account, as it is funded with aftertax money and investment growth is not subject to taxes.

Should you shoot for higher returns by investing outside your 401(k)?
401(k) participants are advised to make the most of their plan's benefits, such as employer's match and tax deduction, according to this article on CNNMoney. Investing outside the 401(k) plan could be a better option if the plan charges heftier fees. Investing in other retirement accounts, such as a Roth IRA is also a smarter move if they want to diversify their tax exposure in retirement. A Roth IRA offers tax-free distribution, increasing the aftertax income in retirement.

Ask Larry: Can I suspend if I get a new job?
Retirees who started collecting Social Security benefits before full retirement age cannot suspend the benefit if they have found a new job, according to this article on Forbes. They are allowed to suspend the benefit only once they reach their FRA. However, Social Security may stop their benefits may involuntarily because of the Social Security earnings test.