Employee benefits

Clients are advised to keep some of their savings in cash and focus on their long-term prospects.

Retirees tapping their long-term savings accounts for income in an emergency are advised to strongly consider reducing their withdrawal rates.

While younger clients may be putting away more money than Gen Xers and baby boomers, they’re not better prepared for retirement compared with their older counterparts, experts say.

These retirement vehicles can be less complex and cheaper than alternatives.

“Find ways to generate income,” says one financial planner.

While some retirees have seen a substantial increase in spending, many others are enjoying financial freedom.

To ensure their investments stretch as long as they live, clients are advised to develop a sustainable withdrawal plan and consider annuities.

A watchful planner might have saved a matriarch’s IRA from being allegedly pillaged by her son.

Mutual funds and ETFs are often created with lopsided or unequal allocations toward certain sectors of the economy, experts warn.

Aside from refinancing, retirees are advised to consider downsizing their homes to reduce overall spending.