Retirement scan

Although retirees need to protect their savings to avoid losing money, extreme aversion to loss could do more harm than good.

An average 50-year-old woman in New York should begin socking away 49% of her income to her retirement account to live comfortably in her golden years, according to UBS study.

If a family contributes approximately $6,000 per year to an HSA, compounded at 6% growth for 20 years, that's $234,000 at retirement, says expert.

Retirees can change their Part D prescription-drug plans, Advantage plans, and/or switch from traditional Medicare to Medicare Advantage during open enrollment, which ends December 7.

Investors can "make some real money trading, but you really have to know what you are doing,” says one advisor quoted in the article.

About 28% of seniors polled by Nationwide claimed that their lives worsened after they retired.

The annual cost-of-living adjustment could increase by as much as 2% due to inflation spurred by recent hurricanes.

Social Security, pension type, and education are factors that have contributed to the rise in the retirement age since the mid-1980s.

Clients should not assume that Medicare will cover all their medical expenses, or that they'll see a decrease in their expenses after they retire.

Most retirees said they adapted to their situation of having limited retirement income and they have had few regrets, according to a survey.

The Equifax hack has prompted the Trump administration to look at ways to establish a safer technology to replace the existing Social Security number.

Nearly two-thirds of future and recent retirees are worried there will be cuts to the program under the Trump administration. And an even greater percentage think that it needs to change.

Owning a home can bring tax benefits, as well as equity that can be used to create an income stream, but in some cases a rental can be a better deal for retirees.

Some consumer advocates worry that this will negatively affect small businesses and middle- and low-income Americans.

Roughly 15% of government workers are eligible to retire, but for most government jobs there is no mandatory retirement age.

Saving too much for retirement could force clients to take loans or make withdrawals that would carry taxes and penalties.

One guideline to remember is that retirees should continue being invested in stocks, which produce high returns and pay dividends.

Some say the changes could make the Federal Housing Administration's program less attractive to borrowers, but they could also improve the market.

Retirees who are considering investing in an immediate annuity can make sure they get a competitive quote by consulting the annuity payment calculator at immediateannuity.com.

When developing a plan to offset the potential shortfall of Social Security benefits in the long term, annual rebalancing is one step clients should take.