How to find clients' lost 401(k) benefits: Retirement Scan

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How to find your lost retirement benefits
Clients are advised to contact their former employer to trace their old 401(k) account, according to this article on Motley Fool. They may also do the Department of Labor's 5500 search to get their former employer's contact information if they don't have the company's details anymore. Another option to trace lost 401(k) benefits is using the National Registry of Unclaimed Retirement Benefits, a free service that connect former employees with their unclaimed retirement benefits.
To build a sturdy financial house, you’ll need a well-designed plan
Clients would be better off developing a well-designed financial plan than having nothing at all to secure their golden years, according to this article on Kiplinger. They should start with creating steady sources of income, such as Social Security, pension and annuity. They may also proceed to conservative investments that can withstand market volatility. When building a portfolio, clients should strive for diversification by investing in different investment types.

Here's how much you have to save per paycheck to retire by 50
Data from NerdWallet show that clients who want to leave the workforce for good at age 50 should have at least $1 million in retirement funds to secure their golden years, according to this article on CNBC. This means people earning $40,000 a year should be saving 34.6% of their income and those with $60,000 in income should be setting aside 23% of these earnings. "[T]he amount you can save is directly tied to how much you spend, so if you can reduce spending enough to save 35 percent of your income, more power to you," says an expert.

Ask Larry: Should my husband suspend or withdraw?
Clients who opt to suspend their Social Security retirement benefits after collecting them beginning at full retirement age can expect their benefits to increase based on delayed retirement credits, according to this article on Forbes. The DRC is computed at a rate of 8% per year or two-thirds of 1% per month.

Suze Orman says you shouldn't retire until you're 70. Here's where she's wrong
Personal finance guru Suze Orman was wrong when she advised people not to retire until they reach the age of 70, writes an expert on Money. "That sort of one-size-fits-all recommendation is too rigid; it simply doesn’t allow for the wide variety of circumstances different people may face as they approach the later stages of their career," writes the expert.

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Retirement planning Retirement benefits Social Security Social Security benefits Retirement readiness