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

How to ensure adequate retirement income
Investors can have sufficient retirement income even in a low-return environment if they opt to defer their Social Security benefit until they turn 70, according to an article in The Wall Street Journal. Clients can also ensure their future financial security if their retirement income will be enough to cover their fixed expenses like mortgage and taxes, and they hold a cash cushion, such as certificates of deposit, reserved for discretionary spending. As all expenses are covered, they can take an aggressive approach to boost their investments and may adjust their spending according to inflation and other market trends.  -- The Wall Street Journal

More parents use retirement accounts to pay for college
Many parents have decided to withdraw from their 401(k) plans and other retirement accounts to cover college tuition and related expenses, according to an article in U.S. News & World Report. Early withdrawals from retirement plans can be costly, as these will be subject to 10% penalty plus income tax. Such a move may also result in reduced financial aid for the students, so parents are advised to take a loan from their retirement plans instead of tapping their savings.  -- Yahoo Finance

The one thing you need to get right for a secure retirement
The home and location where clients live poses a major risk to their retirement security, a concern that is likely to increase as the number of people age 50 and above is expected to hit 133 million in the next 15 years, a report says. The largest source of expenses for older people is usually the home, which accounts for more than one-third of their budget. Maintenance, insurance, and property taxes are also among the bills that older people have to pay even if the mortgage is already fully paid.  -- Time Money

The 3 most important questions about Social Security
Despite the fact that workers are expected to get Social Security benefits when they retire, only a few people fully understand how the system works, according to this article on Motley Fool. Clients should ask the right questions when seeking information about their Social Security benefits. They should ask if they qualify to receive the benefit, how much they expect to get every month, and when they can claim the benefit.  -- Motley Fool

Investors: You will get it wrong sometimes. Plan accordingly
Because of uncertainties and risks that lie ahead, having an investment strategy in place can help clients especially if the approach accounts for trends, personal priorities, and the subsequent costs. The strategy is also effective if it allows clients to invest their assets into the future and make any adjustments they see fit. Read about four uncertainties that clients face when saving for retirement.  
-- DailyFinance

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