Social Security

Retirement plan advocates are urging the federal government to allow Hurricane Harvey victims to withdraw from their 401(k), IRA and other retirement accounts without facing any penalty.

Retirees are likely to have fewer choices when they start shopping around for Medicare Advantage plans during the open-enrollment period that begins October 15.

Clients ready to quit the workforce in advance need to understand the impact of doing so on their Social Security benefits, Michael Kitces writes.

Clients should consider a dependable second-hand car instead of a new one, and then redirect the money saved into a retirement account.

Rates are likely to remain low, which will have a negative effect on retirees and older workers who are adjusting their portfolios in preparation for retirement.

Clients should start shoring up their savings by chipping in as much as they reasonably can to their employer’s retirement plan, especially if it comes with a matching contribution.

Advisors are just one tool in the box.

Retirees who under-reported their income to avoid taxes will also get smaller retirement benefits than they deserve.

Retirees should weigh a number of factors, including the fact that the closing costs for reverse mortgages are higher than those for regular mortgages.

IRA investors should consider implementing a charitable lead annuity trust when converting some of their funds into Roth to mitigate the tax bite.