Our daily roundup of retirement news your clients may be thinking about.

5 ways to ease the pain of health care costs in retirement
People are advised to maintain a special fund, such as a health savings account, to prepare for the hefty health care costs after they retire, according to Kiplinger. They also can minimize the burden of these costs by avoiding the Medicare surcharge and reducing the costs of prescription drugs. Looking for cheaper health insurance coverage and getting a Medigap policy can also help lessen the burden of health care expenses in retirement.  --Kiplinger

Steps small business owners can take for retirement
Baby boomers who are about to retire and consider passing on their small business to a family member are advised to initiate a conversation with the family about the option, according to Fox Business. They also should explore the possibility of selling the business to an outside party to determine if it is a more viable option. Once they decide to transfer the ownership to a loved one, they will need to prepare a learning plan that will enable their successor to know how to run the business.  --Fox Business

Why retirement is a myth
People haven't saved enough for retirement not because they prepare poorly but because the cost of living has increased, according to MarketWatch. Also, 401(k) and other retirement plans are inadequate in helping people achieve their retirement targets, says Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis at The New School for Social Research. Calling the retirement system in the U.S. a system designed to fail, this article notes that while more Americans are likely to rely on Social Security benefits after retiring, they need to continue saving through existing savings vehicles to improve their retirement prospects.  --MarketWatch

Beyond the gold watch: Retirement has transformed
Retirement has evolved not only because of increased life expectancy but also because of new trends in the workplace, shifts in demographics and changes in retirement financing, according to CNBC. "Retirement is no longer on autopilot for most people," said Richard Johnson, a senior fellow and director of the program on retirement policy at the Urban Institute. "Despite a lot of things we hear, the sky isn't falling on retirement ... there are some positive developments going on as well. Our projections don't show that things are going to be dramatically worse in the future than they are today."  --CNBC

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