Retirement scan

Medicare premiums will increase for high-income retirees because of the change in the income brackets that will serve as basis for determining these premiums for their Part B and Part D coverage.

Workers with a high-deductible health plan will be better off setting up a health savings account, which offers tax benefits for savings earmarked for future medical expenses.

Clients should determine the benefits they would receive if they file at age 62, at full retirement age, and after their full retirement age.

More than 25 million workers resigned and left at least one retirement account with their former employer between 2004 and 2013, according to the U.S. Government Accountability Office.

A recent report from Democrats on the Joint Economic Committee says that Social Security is being threatened, and the federal government should consider modernizing and enhancing the program.

The differences generally come down to investor eligibility and when taxes are paid, but that can have a significant impact.

Many people expect to collect more than they actually will, which can prompt them to retire and file for benefits early and, in turn, reduce their actual payouts.

While seniors are often encouraged to lead an active lifestyle in retirement, too much activity may do more harm than good, according to one professor.

Elderly clients should make sure they have enough fixed-income in their retirement portfolios to spin off cash to cover the gap between income and expenses until the market recovers.

Instead of amassing $1 million in savings, clients should consider asking themselves if they are prepared financially for several decades of retirement.