IRAs Could Be the Next Target for Hackers: Retirement Scan

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

Your client's IRA could be the next target for hackers
Experts are warning investors to take better care of their personal information and retirement savings, especially their IRA and 401(k) accounts, which are usually not tracked regularly. MSN advises investors to avoid choosing the "remember password" option in web browsers, use two-factor authentication whenever possible and to use a credit card rather than a debit card for the ease of recovery in case of fraud. Investors should also avoid using personal and other searchable information as passwords. – MSN

How saying 'no' can save your client's retirement
It is important that retirees know their limitations and are able to say no in order to enjoy a smooth retirement, according to CNBC. Retirees should learn to say no to these items: giving financial assistance to family members if it will put you at financial risk, accepting time-consuming favors such as watching grandkids, supporting an adult child and spending too much money on leisure and vacations. – CNBC

4 ways to bridge the retirement income gap
Working a little or part-time can help retirees delay filing for Social Security benefits, according to Time. The benefits increase by up to 8% each year until it is maxed by age 70. Retirees can also make bigger withdrawals from retirement portfolio or begin getting money from pretax accounts such as traditional IRA or 401(k). Married clients can chose to not get Social Security benefits at the same time so they can balance their cash flow. – Time

Americans note improved finances but still lack retirement savings
Important things to know when saving for retirement are highlighted by this Forbes article. First, even a small amount of savings will grow over time. Second, a small percentage increase of long-term rate of return will make a big difference. Lastly, people who plan for retirement mostly end up doing better than people who didn't make a plan. – Forbes

How to make money last in retirement
Social Security decisions, long-term-care insurance, withdrawal rates and asset allocation are four factors that will impact the success of a retirement portfolio. Three retirement experts discuss these elements and give advice on how clients should consider the factors so they can make their portfolios last long. – Morningstar

Read more:

• New Focus for Advisors as Gen X Turns 50
• Key Considerations When Evaluating Target Date Funds
• How Early Retirees Are Different From Other Investors: Retirement Scan