Social Security

Clients should understand Medicare, Social Security and 401(k) changes that will impact on their retirement savings and income.

Workers from both generations share similarities — and financial pressures — when planning for retirement, writes an expert.

Adjusting a federal income tax return depends on personal tax circumstances, “such as the materiality of the error,” an expert says.

Failing to enroll in a health care plan and taking on a hefty student loan debt are just two of the most common blunders younger clients should avoid.

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

With pensions gradually disappearing, more retirees will have to rely on 401(k)s.

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.

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

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.

The tax basis can change when homeowners compute depreciation, loss or gain for sales purposes.

Students can always borrow money for school, but there are no "retirement loans" available for clients to use to fund life after work, a CFP writes.

Clients should think of the years as empty buckets and keep the amount of income into each bucket level per year.

Just 27% say they expect to have saved enough by the time they retire.

Plans can quickly deteriorate as a result of poor planning and inaccurate assumptions about the future.

Pre-retirees expect their annual health-related expenses to top $7,000 once retired, however the actual cost can be much more.

Savings in mutual funds, annuities and other products from banks are not covered by insurance.

To bridge the gap between employer coverage and Medicare eligibility, retirees face a number of daunting choices.