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

Average Americans may never retire, but that's okay
Many Americans may need to work longer past retirement age in order to be financially prepared for their golden years, but the truth is that traditional concept of retirement is already "dead," according to this article on Forbes. The conventional rules and standards of retirement are already gone, including the idea that a person does not work anymore when he or she retires. The current trend now is that a big number of retirees engage in some form of work part-time or seasonally or start their own business, and they do it not solely for financial reasons.  --Forbes

4 reasons to keep working as long as possible
Working past the retirement age can be a good option for retirees so they can delay tapping their Social Security benefits and other investment accounts to ensure they won't outlive their nest egg, according to this article on CBS Moneywatch. Such a strategy will also give more time for retirees to boost their retirement savings and Social Security benefits. Retirees also will continue to enjoy health insurance coverage provided by their employers if they remain employed.  --CBS Moneywatch

The biggest oversight in most clients' retirement planning
Most people have been good at planning financially for their golden years but fail to prepare mentally and emotionally for retirement, writes Scott Hanson, a certified financial planner. To avoid this mistake, clients are advised to develop a retirement plan that will allow them to be productive, with things like volunteer work, creative pursuits or launching a business, Hanson writes. "With proper time management and active planning, retirement, and all the freedom that comes with it, can be the best season of life."  --Kiplinger

Can retirement savings cover them and their special needs son?
A pre-retiree couple is advised to prioritize their retirement portfolio over their debt and other financial concerns so they can secure their finances in their golden years and continue supporting their autistic son who cannot live independently because of his condition, according to financial advisors. By having an adequate nest egg, they can also leave something to their son when they die by putting assets in a special needs trust that will be used to fund his therapy and other caregiving expenses.   --Washington Post

How much income will clients need in retirement?
While some experts think that retirement income has to be at least 80% of the person's income before retiring, the income that people need to have in retirement actually depends on their personal circumstances, according to this article on The Motley Fool. To estimate their retirement income target, clients need to account for their usual living expenses as well as their health, travel plans, and costly hobbies and interests. Clients who already have a good estimate of their retirement income are advised to start planning on their income streams, such as Social Security and investment returns.  --The Motley Fool

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