Health and wellness

Clients can void overspending by seeking out sales and discounts to lower their food and entertainment costs.

While it’s recommended they have at least three sources when they retire, just 6.8% of savers have done so, according to a report.

A recent study found American workers would face better retirement prospects if the federal government adopts certain public policy changes.

Failing to pay taxes on side-gig earnings and keeping faulty records of business-related expenses must avoided to prevent an excessive tax burden.

The accounts will be managed through Wealthscape, allowing advisers access to their client’s finances to help manage rising healthcare costs.

Contributing to these accounts makes sense for clients who anticipate higher tax rates in the future.

They are triple-tax advantaged, but also introduce significant challenges — especially for life partners with multiple accounts.

Female clients should start as early as possible and take advantage of the employer match, contributing at least 15% of their income.

One tip for younger clients is to create multiple income streams that are subject to varying tax treatments.

Those in the workforce will not owe taxes on rollovers to traditional retirement accounts, but will face consequences using the strategy with a Roth.