Risk management

For starters, wage income earned by those working past their full retirement age can boost tax bills and medical insurance costs.

Sixty percent of advisors cited estimating health care costs as one of the biggest headaches when helping retirees plan for the future.

Contributing to these accounts makes sense for clients who anticipate higher tax rates in the future.

Parents can match their children’s savings in a Roth IRA dollar-for-dollar on the condition that they agree not to dip into the accounts until they retire.

Younger clients who adopt an overly conservative investment approach are advised to consider diversified, low-cost equity products to boost returns.

Required minimum distributions are just one example of unforeseen expenses for retirees, an expert writes.

The decisions made before they retire are integral to their success, according to an expert.

They “need to be thinking about guaranteed income streams” because there’s “not a lot of time for recovery,” an expert writes.

Younger clients are more savvy consumers who know how to minimize their expenses and are less inclined to spend on material goods, an expert says.

Raising the assumed age for decumulation to 67 from 65 could dramatically reduce the percentage of families at risk, an expert says.