Retirement

Clients ask: "Will I run out of money?" Here’s how planners can confidently tell them "no." Like every approach, however, there are a few drawbacks.

Investors are advised to do a Roth conversion before year-end to make the most of the federal tax deduction for state and local income taxes, which could disappear next year.

Relying too much on tax-loss harvesting to generate an income is a common mistake that clients should avoid after they retire.

A relatively new approach for measuring savers’ progress toward goals is gaining steam, but it’s not without its imperfections.

Retirees should take advantage of their flexible schedule, which allows them to go on vacation during off season to save on costs.

Retirees who have reached the age of 70 1/2 should take required minimum distributions from tax-deferred accounts, while those who are younger should draw from their taxable accounts.

With the right steps, clients can reduce their tax liability, as well as new sources of retirement income with different tax treatments,

Many deductions are likely to disappear if Congress passes the reform bill into law.

If clients set aside a portion of earnings in a 401(k) or IRA, taxes weren't forgiven, just deferred. They'll still owe money to the IRS at some point.

While clients cannot determine their health care expenses and taxes in retirement, they can improve their prospects by minimizing investment fees and diversifying their portfolios.

Small firms are allowed to set up multiple-employer plans, but the government needs to "simplify and rationalize the rules" for these types of plans, says an expert.

Medicare Part B premiums will stay flat next year, but most retirees will still pay more.

Clients should consider tax breaks such as education expenses, mortgage interest payment and small business costs.

Clients should claim their retirement benefits only when other taxable income sources are used up, as their benefits could be taxed if their taxable earnings reach a certain threshold.

Attracting them means knowing what’s really important (hint: it’s not retirement).

Advisors should contact every client who did a Roth conversion in 2017 to discuss a key change in tax regulations, Ed Slott says.

Workers can improve the odds of getting bigger Social Security benefits after they retire by asking for a salary raise from their employer.

Retirees should remain invested in stocks even if they have to scale back their exposure to this investment type, experts say.

Financial advisors can still be held liable for violating impartial conduct standards even though the fiduciary rule has been delayed until 2019.