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

For empty nesters, spending habits may trump extra saving
Many empty nesters fail to boost their retirement savings after their last child leaves the house, and instead go on a spending spree that can last for years, according to a study by the Center for Retirement Research of Boston College. On average, over the eight years following the departure of the last child, empty nesters increase their savings in tax-deferred 401(k) retirement accounts by less than one percentage point of income, the researchers found.  The “findings support the view that the retirement-savings crisis is real.”  --The Wall Street Journal

How to make market volatility work for your client
Market volatility provides opportunity for older clients to be invested, and staying on track for the long term is a good strategy to get the best results, according to this article on Kiplinger. To make the most of investing in equities even during volatile markets, investors need to diversify their portfolios and use dollar-cost averaging when buying in the market. They also need to avoid timing the market to sell and take advantage of the down market to fine-tune their long-term strategy.  --Kiplinger

Estate planning can get tricky when art is concerned
Clients who engage in estate planning stand to benefit from the difficulty of putting a price on a piece of art, according to financial advisors. “Art is something whose value is very different if you’re going to use it or if you’re going to give it away or lend it to an institution,” said Jordan Waxman of New York-based HSW Advisors. “It’s an asset that’s not going to solve lifestyle or retirement goals, but it has a distinct advantage as a wealth-transfer tool.”  --The New York Times

Easily missed fee costs retirement savers billions
Retirement savers who invest in in actively managed accounts pay hefty advisory and mutual fund fees, eating away a substantial amount of their returns, according to this article on MarketWatch. A test drive conducted by Rebalance IRA has shown that a portfolio that is actively managed has lower results because of considerable fees, compared with another portfolio held at Rebalance IRA.  --MarketWatch

The consequences of claiming Social Security too early
While investors can recoup their losses from a market decline when stock prices pick up, seniors will have no chance to reverse the reduced Social Security retirement benefit they will get if they retire early, according to this article on CNBC. "The challenge is, every case is different, every individual has individual circumstances, but overall claiming Social Security too early at the age of 62 has compounding effects in the future," says Edward Gjertsen, president of the Financial Planning Association.  --CNBC

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