RMDs

While they don't need a child to claim the earned income tax credit, the benefit's value increases based on the number of kids clients have.

Relief comes as a result of the short notice firms were originally given to comply with the Secure Act, the agency says.

While there are strategies to help reduce risk, clients should recognize the order of investment returns is crucially important, an expert writes.

Many pre-retirees leave the workforce sooner than anticipated as a result of various factors, such as job loss and illness.

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

Failing to pay taxes on side-gig earnings and keeping faulty records of business-related expenses must avoided to prevent an excessive tax burden.

More clients are opting to work after they retire "to stay active and contribute professionally while also supplementing their income.”

The Secure Act was designed to expand retirement savers’ options but it has subsequently all-but-eliminated the stretch IRA for beneficiaries. It's on advisors to make clients aware of the major change.

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

“By and large, many simply have not yet saved enough to retire comfortably.”