Retirement planning

Older clients are advised to take extra steps to protect their finances as the current crisis may leave them prone to making poor financial decisions.

The Secure Act eliminated a popular retirement planning feature. Here are strategies to help clients mitigate the tax hit.

Seeing the size and variation in average returns among a variety of asset classes offers perspective for those who are anxious.

The world’s 500 richest people have lost almost $1.3 trillion since the start of the year.

“[By extending the tax deadline], they automatically extended the deadline to make an IRA contribution last year,” an expert says.

If they plan to use them for current spending, “then the timing of the distribution would not matter for tax purposes,” an expert writes.

Clients are advised to minimize spending and tap possible sources of cash and credit, including their tax refund.

Market plunges are normal and stocks are likely to recover and earn a positive return over the long term, says an expert.

“I don’t think the volatility will be over until we’re finished with this virus,” one RIA says.

“Having retirement assets in both traditional and Roth accounts can help clients hedge their tax bets for retirement,” an expert says.

Clients are advised to keep some of their savings in cash and focus on their long-term prospects.

Retirees tapping their long-term savings accounts for income in an emergency are advised to strongly consider reducing their withdrawal rates.

While younger clients may be putting away more money than Gen Xers and baby boomers, they’re not better prepared for retirement compared with their older counterparts, experts say.

Convenience accounts, power of attorney, trusts: The benefits and drawbacks are legion. Here's a guide.

These retirement vehicles can be less complex and cheaper than alternatives.

“Find ways to generate income,” says one financial planner.

While some retirees have seen a substantial increase in spending, many others are enjoying financial freedom.

Any gains on the sale of a property they've held for over a year may be taxed as much as 20%.

To ensure their investments stretch as long as they live, clients are advised to develop a sustainable withdrawal plan and consider annuities.

A watchful planner might have saved a matriarch’s IRA from being allegedly pillaged by her son.