Retirement readiness

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

"A long life is wonderful, but it is also costly and a bigger drain on resources," an expert says.

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

Vesting schedules applies to the type of money, not on the exact amount that was deposited, according to an expert.

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

Younger clients who adopt an overly conservative investment approach are advised to consider diversified, low-cost equity products to boost returns.

In some cases, clients are advised to pay off their debt instead of putting money aside to retire.

The full balance won't belong to them until they are fully vested in their plans — especially if they're receiving an employer match.

Buyout amounts are high right now, but there are many other factors to consider when guiding your client to the right choice.