Social Security

Working 30 years instead of 29 will yield a fractional monthly benefit increase — "like by 1/29th" — says an expert, who also notes how get a good idea of future benefit

Seniors are advised to get health insurance to complement their Medicare coverage and hire a health care advocate and billing specialist.

Retirement investors who need to decide whether to sell depreciated stocks or ride out a declining market should make a decision based on their investing goals, says strategist.

Seniors may delay the benefit for increased payout in the future if they have other income sources, they are healthy, or interest rates are high.

An expert warns that investors will have to contend with lower returns in the future, as stocks are currently high-priced.

Open enrollment offers seniors the opportunity to change their plans and save hundreds of dollars.

While clients experience various benefits as they age, they still owe taxes after exiting the workforce.

Unlike pension plans which rely on market returns to fund their payouts, Social Security puts its investments in U.S. Treasury debt, which yields only 1% in annual return.

Major home and car repairs are among the unexpected expenses that catch many retirees financially off-guard.

Women are advised to double check their beneficiary information, update legal documents regularly and create a plan for long-term care.

Most respondents to an informal survey said they view Social Security as an income stream rather than as an asset. At least one expert disagrees.

Instead of buying one expensive car after another, clients should invest the money and let it grow. They may even be able to retire early.

Benefits are not capped at a predetermined level. They are based on two variables: a client’s highest earnings over 35 years and their age when they file for benefits.

Many fear that they will feel alienated and irrelevant after they retire, become a burden to their families, or their surviving spouse will go on retirement alone.

To really come out ahead from delaying Social Security, a client has to live past 80. Otherwise, it's probably better to take a reduced benefit earlier.

The odds that your clients will one day stay in an assisted living home increases 1.4% per year, starting at age 65.

Proceeds from selling their current home can be augmented with a "reverse mortgage for purchase," which doesn't have to be repaid until they sell, move out or pass away.

"The uncertainty is often more stressful than the reality" when it comes to planning for a change in administration.

Preferred stocks are good candidates for retirees' investment portfolio as they can provide more income than corporate bonds.

Investors are better off having target-date funds than balanced funds as TDFs provide broader diversification and focus on minimizing risk.