An easy plan for retirement-planning procrastinators
Cients who procrastinate when planning for retirement are advised to face their fear and anxiety to get on their feet and start planning for their golden years. To adopt a resilient attitude toward retirement planning, clients need to embrace their feelings toward aging and retirement wholeheartedly, understand that their family will be involved in their retirement and specify their fears, hopes and actions to realize their aspirations. After having a clear picture of their fears and goals in retirement, clients are advised to discuss these things with their loved ones and seek professional guidance.  --MarketWatch

The major 401(k) hit clients can avoid
People end up with bigger savings in pension plans than in defined contribution retirement plans because 401(k) plans' hefty investment fees. To minimize the 401(k) costs, participants are advised to opt for passive index mutual- or exchange-traded funds and request institutional-class funds in the plan. They can also lessen the costs by requesting separate managed accounts and asking their employer to avoid fund companies that impose commissions, 12b-1 fees or revenue sharing.  --Forbes

Young money: Solutions for millennial financial worries
Millennials need to pay attention to their spending and boost their savings rate to improve their financial prospects, says Karen Carr, a certified financial planner with Society of Grownups. One strategy for young people to ensure they save for their golden years is to automate their contributions to 401(k) and other retirement plans while testing their savings potential, Kerr says. “The benefit isn’t saving an extra $50 a month. It’s that you overcame that mental block of thinking you can’t save more than you already are.”  --Bloomberg Business

What does 2016 hold for Social Security?
Retirees need to know that Social Security benefits will remain unchanged because there will be no cost-of-living-adjustment this year. A new law also puts an end to the file-and-suspend claiming strategy that enables couples to maximize their retirement benefits. Despite Social Security's looming financial woes, the program will continue and is unlikely to disappear in the future. Get to know the estimated average annual benefits for recipients in different life situations.  --The Motley Fool

Saving for retirement: Tips for all ages
Clients who are in their 20s should start saving as soon as they can to take advantage of the time ahead of them, which will allow their savings to grow through compounding, according to this article in U.S. News & World Report. Retirement investors who are in their 30s are advised to strike a good balance between spending and saving while those in their 50s and 60s need to start working on the retirement income they will need based on their living expenses. Investors in their 60s may continue investing and consult a financial advisor to weigh their options and maximize their Social Security benefits.  --Yahoo Finance

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