Retirement planning

Although the elderly often lose the most from scams, younger clients are more likely to fall victim, according to a report.

Payouts from pensions and tax-deferred accounts are usually not taxed in states without a state income tax or with levies only on interest and dividends.

Without a rollover, they can experience “untold impact to their plan for securing retirement," an expert says.

Businesses, particularly small ones, are looking for help to limit liability when sponsoring defined contribution plans.

A successful financial plan is contingent on the success of the whole family, according to an expert.

These employers offer plans that pay as much as $6.52 per hour in contributions.

Around 40% blame their lack of preparation on housing costs, according to a report from TD Ameritrade.

Those planning to head back to the workforce are advised to set boundaries at their new jobs and continue doing the things they enjoy in retirement.

“Building and adhering to a budget that accounts for these types of expenses will create long-term security in retirement,” a CFP says.

When searching for the right plan, it is important that retirees assume their health will one day change.

Retirees often only take distributions when they are forced to do so because of the IRS’ RMD rules, an expert says.

Cases often go unreported because many times seniors are too embarrassed.

Securing optimal returns depends on many factors, including the right underlying asset class and close monitoring.

Keeping their money invested for a longer period enacts the power of compounded interest growth.

Armed with some specific details, advisors can explain why the seductive option is both too good and too good to be true.

Clients are advised to have an emergency fund, create a monthly budget and repay their high interest debt.

Proactive measures, like rethinking the index used to assess seniors’ cost of living, may be called for.

Who guards the guardians? Regulators, yes, but as CFPs we must also police ourselves

Investing in tax-advantaged accounts and automating contributions are a few strategies that could help.