Social Security

IRA investors can draw funds from their accounts tax-free if the money will be used to fund college tuition and other related costs.

Adding five years to their working years will enable clients to replace their pre-retirement income by up to 90% instead of 60% in some cases.

Seniors looking to launch a business should consider collecting their retirement benefits early.

Retirees will have to change the way they file taxes under the new tax law, including making two years' worth of charitable donations every other year to exceed the standard deduction and itemize.

Clients who prefer a simple retirement investing strategy should consider a dividend stock index fund.

Retirees should stick to their strategies and diversify their portfolios with various sources of income.

Clients may want to opt for a fund that follows small companies as they will benefit from a lower corporate tax rate under the new tax law.

Clients will no longer be able to undo Roth conversions once the new tax law takes effect next year.

Clients should refrain from cosigning their child's student loan, as Social Security could garnish their retirement benefits if the child defaults on the loan payments.

If clients miss an RMD, they will be subject to a penalty equal to half the amount they should have taken, and they'll still owe ordinary income taxes on distributions.