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

How to ease the search for assisted living
Searching for and moving to an assisted-living or senior housing facility requires much thought and careful planning by clients to ensure proper care and all the needs of seniors are met. Family members who are looking into assisted-living options for their relatives should avoid making the decision at the last minute, particularly when a health crisis occurs, and start talking about the issue with their elderly parent or loved one. Seniors with declining health should take into consideration whether they can safely live on their own, the location of possible new housing arrangement, proximity to friends or family members and their current insurance coverage. --Money

How fix a critical flaw in 401(k) plans
Guaranteed lifetime-income features or functions on managing savings withdrawals during retirement are normally not included in defined contribution retirement plans, making outliving ones’ retirement savings a big problem, according to this article in CBS Moneywatch. Clients should develop a strategy that will allow them to make their income last for life while still having funds for a rainy day. Such a strategy may include using savings to postpone and optimize Social Security benefits, setting aside some money for unexpected expenses, purchasing an annuity from an insurance company with a lifetime-income guarantee and investing some savings for growth potential. --CBS Moneywatch

Could you live on just $32,000 per year? Most retirees do
A survey by Transamerica Center for Retirement Studies found that the estimated median annual household income among retirees is $32,000. Retirees can live on just $32,000 but it won’t be easy especially for those who were accustomed to more prior to retirement. Retirees will be able to live with such an amount if they keep health care costs in check by getting major medical insurance, pay off debts and mortgage before retiring, plan ahead, delay Social Security, review financial plans annually, work longer and be happy. --USA Today

Social security disability won't reduce retirement payments
Social Security disability benefits work differently from retirement benefits and would pay the same amount of money to a senior unable to work due to a disability at age 60 as a fully retired senior who collected full retirement benefits at age 66, according to this article in the Houston Chronicle. An expert also notes that while it is possible to collect Social Security retirement benefits and unemployment benefits at the same time, it is different with disability benefits. Those who file for disability benefits do so due to disabling health conditions that prevent them from working, while in contrast, filing for unemployment benefits means the person is unable to work due only to not being able to find a job and has no connection to their health. --Houston Chronicle

How dumb investment decisions may be doing you in
Investors should avoid making unwise decisions based solely on their emotions or personal relationships with investment brokers, according to this MarketWatch article. The article advises that clients who aim to invest smartly would benefit more from low-cost index funds or ETFs rather than investing their money on big brokerage houses and fall prey to possible fraudulent schemes. The article also notes that low-cost index funds allow investors to have a greater retirement fund, as well as money to leave to heirs and even after taxes. --MarketWatch

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