Medicare

Seniors choosing between traditional and Roth IRAs must account for their current and future tax rates.

Seniors may consider working longer or relocating somewhere where their benefits are not subject to state taxes.

While retirement readiness among Americans has improved in general, Gen Xers are struggling with housing, college and medical costs, a survey finds.

Salary increases can make long-term planning more complicated if investors boost their lifestyle instead of their savings, an expert warns.

“The advice I give is to calculate the financial impact for each option,” an expert says.

Along with other decisions, dating the amount of money they need to withdraw would help them in retirement planning and spending.

Ill-prepared investors are advised to vigorously plan their expenses and aggressively save in their 401(k)s and IRAs.

For starters, wage income earned by those working past their full retirement age can boost tax bills and medical insurance costs.

Sixty percent of advisors cited estimating health care costs as one of the biggest headaches when helping retirees plan for the future.

Financial planners should at least consider modeling early retirement to prepare clients for the possibility of uncertainty, says Morningstar.

Clients should understand Medicare, Social Security and 401(k) changes that will impact on their retirement savings and income.

Workers from both generations share similarities — and financial pressures — when planning for retirement, writes an expert.

To secure retirement for both spouses, married clients need to determine their savings rate in their 401(k)s and take advantage of the employer's match.

The change would affect seniors who converted traditional accounts to Roth and paid taxes for the benefit of their heirs.

Deferred taxation on these retirement products, in part, depends on how their distributions are made.

Setting up a tax-advantaged retirement account, automating contributions and reducing their overall expenses are a few strategies to get back on track.

Seniors hoping to begin retirement next year are advised to review their risk exposure, pay down their debt and save for additional health care costs.

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

Medicare savings programs, discounts on prescription drugs and rental assistance are a few ways retirees can lighten their load.

Helping clients develop a solid investment strategy is an important step to help them survive market volatility.